The Trudeau government has set Canada on a path to fiscal destruction
By Aaron Wudrick and Franco Terrazzano Canadian Taxpayers Federation The British politician Nigel Lawson once said: “To govern is to choose – to appear to be unable to choose is to appear to be unable to govern.” If Lawson is correct, then the only conclusion to be drawn from Finance Minister Chrystia Freeland’s federal budget…
Would you prefer cash back under the Trudeau model or O’Toole bucks towards buying a solar-powered e-bike?
Conservative Party leader Erin O’Toole is set to lose the trust of millions of Canadians and betray hard-working taxpayers by embracing carbon taxes. The Conservative Party has long promised to repeal Prime Minister Justin Trudeau’s federal carbon tax mandate immediately after forming a government. Former Conservative Party leader Andrew Scheer’s promise to repeal the carbon…
Provincial debt is more than $75 billion, and it’s increasing by $100 per second
British Columbia’s last budget feels like something from a distant, pre-pandemic past. Now the province’s throne speech gives a little glance into the future budget. And if we’re going to get back to balanced budgets, we’re going to have to go faster than Marty McFly to fix our finances in the future. Back in the…
Canadian politicians insist that massive government spending is needed to bring the economy back to life. But they’re dead wrong
Canadian politicians at every level continue to insist that massive government spending is needed to bring the Canadian economy back to life. But they’re dead wrong. Politicians can help our economy. But not with more wasteful spending. Instead, they should let us keep more of our own money. Federal Finance Minister Chrystia Freeland has argued…
But don’t bet on seeing a balanced budget, let alone one in surplus
For the first time in more than two years, the federal government is bringing down a budget today (April 19). So let’s look at what the budget should do to best serve Canada, its people and our economy. The first function of any budget is to compare expected income and expenditures. In a balanced budget,…
Will she put Canada back on the road to fiscal reality or double-down on sky-high spending?
As Canadians wait to see just what will be in the first federal budget in more than two years, this much is certain: that the amount of red ink will surge past any other deficit records in Canada’s modern history. What’s less certain is whether Finance Minister Chrystia Freeland plans to put Canada on a…
Job losses and economic contraction will be substantial
By Alex Whalen and Elmira Aliakbari The Fraser Institute As the New Brunswick economy emerges from the COVID-19 pandemic and recession, the federal government’s new plan to raise its carbon tax will have major economic consequences for the province. Under the federal Greenhouse Gas Pollution Pricing Act, the original plan was to raise the carbon…
Because of rising housing prices
The two necessities in life are food and shelter. It looks like both are getting much more expensive. For a few years, the cost of food has been the most important food affordability barrier. Not anymore. The cost of housing is now seen by Canadians as the most significant barrier. A recent poll conducted by…
Crackdowns fail to recognize that alternative lenders are the last hope for Canadians shut out of the traditional lending market
The media often portray alternative lenders as slippery, unethical loan sharks who exploit the poor. When targeting the sector and not just a few bad apples, such stories are easy, cheap hit jobs. New Brunswick Sen. Pierrette Ringuette, for example, recently described alternative loans to CBC Marketplace as “an abusive financial process that needs to…
Think you can avoid the carbon tax by riding your bike? Think again
British Columbians are now paying even more to heat, eat and drive to work. Prime Minister Justin Trudeau's most recent carbon tax hike has found a willing follower in British Columbia Premier John Horgan. When Team Trudeau was fighting against several provinces at the Supreme Court of Canada, saying he should be able to impose…
So much for being in this together
Albertans are enduring a tale of two downturns during COVID-19. There’s the very real downturn full of private-sector pain. Then there’s the experience of government employees who have largely been shielded from the downturn. Over the last year, 76,600 private-sector jobs vanished in Alberta, while 5,600 government jobs were added. Since the beginning of 2015,…
A 10% pay cut for all sunshine listers would save beleaguered taxpayers more than $2.5B
While most Ontarians were barely getting by during lockdowns, the bill for Ontario top bureaucrats ballooned in 2020. There are still 800,000 Ontarians looking for a job. So, it must be jarring for them to see Ontario’s sunshine list, which discloses the municipal and provincial government employees making more than $100,000 per year, increased by…
Albertans don’t want a provincial sales tax. That much is clear. What’s not clear is why Premier Jason Kenney won’t absolutely take a PST off the table. More than 60 per cent of Albertans do not want a PST, according to a new poll conducted by the Angus Reid Institute. Only three per cent of…
Finland acknowledged its two-year experiment a total failure
The COVID-19 crisis has brought back to the forefront the idea of a universal basic income or guaranteed annual income. It’s an idea that should be abandoned. In response to the economic crisis caused by the COVID-19 restrictions, the Canadian government has implemented the Canada Emergency Response Benefit (CERB). Eligible people receive $2,000 for a…
The idea that we can easily tax rich people with impunity is not supported by the evidence
Since the last federal election campaign, the NDP has been continually beating the drum for a wealth tax. The party’s latest push comes in its supplementary report to the 2021 budget consultations. Their case for the tax, however, is based on significant economic errors. First, the NDP claims that a wealth tax has been recommended…