When Finance Minister Jim Flaherty announced last week that the Conservative government will miss its target for balancing the budget, he confirmed something that should be obvious to all students of recent Canadian economic history: Crossed-finger revenue forecasts and unrealistic spending growth projections are no basis for sound economic policy.
government spending
November 16, 2011
2:00AM
November 15, 2011
10:00AM
November 9, 2011
2:00AM
With the release of its economic and fiscal update, the Conservative government finally confirmed it will not meet its 2014-15 target for balancing the budget.
No surprise here.
No surprise here.
September 14, 2011
2:00AM
With Ontario and Quebec accounting for nearly 60% of Canada's gross domestic product, as they go, so goes the Canadian economy. Unfortunately, the economic news from Canada's largest provinces doesn't look good, and many forecasters are now downgrading their economic growth projections.
While part of the reason for their lagging economies stems from external forces (i.e., a shaky U.S. economy), the policies implemented by the Ontario and Quebec governments have contributed to, rather than mitigated, economic woes in those provinces.
August 27, 2011
2:00AM
While many Canadians were on vacation this summer, including many journalists and opposition parliamentarians who might notice taxpayer cash dribbling away, our governments continued to hand out more corporate welfare.
In late August, Ontario offered up $2-million to Dana Holdings and $3-million to Centra Industries, both in Cambridge, Ontario. Predictably, the usual flawed justification was offered: taxpayer subsidies will create or preserve jobs.
In late August, Ontario offered up $2-million to Dana Holdings and $3-million to Centra Industries, both in Cambridge, Ontario. Predictably, the usual flawed justification was offered: taxpayer subsidies will create or preserve jobs.
August 23, 2011
2:00AM
With the United States credit rating recently being downgraded and some European countries teetering on the verge of debt crisis, Canadians can rightly be proud of the countrys AAA credit rating.
That said, Canadians should not get too complacent. With growing concerns about a slowing global economy, Canadian politicians should put forth genuine plans to restore balance to the nations finances.
That said, Canadians should not get too complacent. With growing concerns about a slowing global economy, Canadian politicians should put forth genuine plans to restore balance to the nations finances.
August 10, 2011
2:00AM
On Tuesday, the National Post's editorial page celebrated the continuation of Canada's AAA credit rating, in light of the U.S. downgrade to AA+. While there's no doubt our fiscal health is relatively better than the United States and Europe, the recent market volatility combined with declining commodity prices should not make us too complacent.
August 7, 2011
2:00AM
The latest deals to save American and Greek public financesallowing those countries to put themselves into even deeper debtshould puncture the illusion the welfare state was ever a success. The fact is, it was always built on borrowed time and borrowed money.
June 3, 2011
2:00AM
All expectations for next week's federal budget are that it will look much like the March version -one that included a substantial $30-billion deficit this year (2011-12) and no credible plan to return to a balanced budget.
Canadians deserve more. The newly minted Conservative majority should seize the opportunity to put forth a truly conservative plan to balance the budget -one that puts federal departmental spending on the chopping block.
March 14, 2011
3:00AM
Slash or spend? Cut or conserve? The federal government will bring down its budget on March 22. What should be in it? We ask five prominent Canadian think-tanks to offer their fiscal fix for the coming year.
Over the past five years in office, the federal Conservatives have not exactly been a bastion of fiscal conservatism. But on March 22, Prime Minister Stephen Harper and Finance Minister Jim Flaherty have an opportunity to re-define their fiscal legacy.