These days, we economists tend to be very optimistic about the future, certainly compared to the ghastly visions of environmentalists and others.
Alberta’s economy is still on shaky ground as oil prices remain depressed relative to last year’s levels.
No one really thinks there shouldn’t be any taxes. After all, how would governments fund important public services that form the foundation of our economy? Think of services such as protecting property, building infrastructure, upholding the legal system, to name a few.
Provincial cries for more federal money are as old as Confederation, and rarely have any substance to them.
There’s increasing evidence of a relationship between entrepreneurship and age. Younger people are less risk-averse than older people, and more prone to question the status quo. These characteristics are fundamental to entrepreneurism. So how can government influence entrepreneurship to mitigate these demographic effects?
Once the euphoria of the Alberta NDP’s historic election victory subsides, Premier-elect Notley and her leadership team will have to make a fundamental decision about the fiscal-policy path the new government will pursue. This decision will shape the immediate and future prosperity of Albertans.
As expected, the 2015 federal budget had the general feel of an election budget, with a small surplus and a smattering of initiatives to satisfy various voting groups.
Filed your taxes yet? You’ve got until Thursday at midnight. After that, according to the federal government, you’re officially in arrears.