Equalization rebate should go to Albertans, not the Alberta government

If the feds send the larger equalization rebate to Alberta, then it should be made out to the taxpayers who have been paying the bills

Equalization rebate should go to Albertans, not the Alberta governmentHere’s a fundamental point about equalization: the provincial government doesn’t pay for equalization, taxpayers do. Premier Jason Kenney is calling on the feds to increase the equalization rebate to the Alberta government to offset some of the impacts of the downturn. But any equalization rebate should go back to the Albertans who have been paying…

Reduce income taxes to spur Nova Scotia’s recovery

Attempting to fight high deficits while maintaining high tax rates will reduce the province’s economic growth prospects

Reduce income taxes to spur Nova Scotia’s recoveryBy Alex Whalen and Tegan Hill The Fraser Institute Due largely to COVID-19, the big banks project negative growth for Nova Scotia’s economy in 2020, ranging from -5.5 per cent to -7.4 per cent. Without a strong rebound, such a steep recession could have a lasting impact on living standards in the province and Maritime…

No-fault insurance runs counter to free-market ideals

No-fault insurance runs counter to free-market idealsWith everyone’s attention riveted on COVID-19, it’s important to remember there are still unrelated bad policy ideas that could become legislation. The Alberta government recently convened an expert panel to examine what’s widely being called Alberta’s car insurance problem. As is usually the case in these types of matters, the problem seems to be largely…

Federal tax hikes would do more harm than good

Our high income tax rates discourage productive economic activity and put Canada at a competitive disadvantage

Federal tax hikes would do more harm than goodBy Jake Fuss and Tegan Hill The Fraser Institute On July 8, the government of Prime Minister Justin Trudeau will release a “snapshot” of federal finances, the first such update since the COVID-19 crisis began. The government may also soon look to raise taxes to try to increase government revenue, either to finance new spending…

Better get used to higher food prices

The food sector has never been recession-proof. But COVID-19 may show us that it’s immune to deflationary pressures

Better get used to higher food pricesDespite a negative inflation rate overall, recent Statistics Canada numbers tell us we’re in for a wild ride at the grocery store. While the general inflation rate sits at -0.2 per cent, the food inflation rate is at 3.4 per cent. In December, Canada’s Food Price Report predicted a food inflation rate of about 4.0…

No, the government spending spree can’t go on for ever

The notion that we can pile on debt ad infinitum is at the very least counterintuitive. In fact, it just seems reckless

No, the government spending spree can’t go on for everCanada’s federal and provincial governments have rightfully focused on doing all they can to support people and businesses idled by the COVID-19 pandemic, and to keep people working where possible. But most advocates of aggressive spending always knew there would come a day of fiscal reckoning, in which we’d have to figure out how to…

How to manage your finances in the time of COVID-19

An accounting expert offers a wealth of advice – starting with not letting your net worth define your self-worth

How to manage your finances in the time of COVID-19People struggling to pay their debts in a crippled COVID-19 economy can’t avoid tough choices but shouldn’t let it crush them, says a University of Alberta financial expert. Feelings of fear, frustration or shame can overwhelm the clear-headed thinking needed to tackle tough times, but try not to internalize it, advised Mike Maier, an accounting…

Ottawa’s carbon tax hike out of step with global reality

Ottawa’s carbon tax hike out of step with global realityBy Aaron Wudrick and Franco Terrazzano Canadian Taxpayers Federation Prime Minister Justin Trudeau has chosen to make life more expensive for Canadians by increasing the federal carbon tax by 50 per cent amidst the COVID-19 economic and health crisis. Meanwhile, governments around the world are moving in the opposite direction because hiking taxes during a…

Mortgage misery awaits too many Canadian families

At the heart of the COVID-19 crisis sits the Canadian Mortgage and Housing Corp. and its low-income borrowers

Mortgage misery awaits too many Canadian familiesThe shutdowns ordered by Canadian governments to slow the spread of COVID-19 have caused unemployment to leap. And put mortgages in peril. Many of the millions of workers laid off have been low-income and lower-middle-income earners. They’re just the sort of people who qualify for home mortgages insured by the federal Canada Mortgage and Housing…

Canadians get too little value for their taxes

Whether on corporate income, labour, international trade or anything else, taxes in Canada impose a huge economic cost

Canadians get too little value for their taxesAs Canadians prepare their tax returns, it’s fair to ask if we get good value for all the taxes we pay. We have a little extra time to ponder this, since the federal government has given Canadians another month to file tax returns as a result of the COVID-19 pandemic, to June. 1. So do…

Rise of shadow banking a victory for consumers

Hedge and private-equity funds, mortgage lenders, and money-market funds provide accessible sources of credit

Rise of shadow banking a victory for consumersBy Paz Gómez Research associate Frontier Centre for Public Policy Shadow banking is growing by leaps and bounds in Canada. It’s a C$1.5-trillion industry that expanded by 30 per cent between 2015 and 2017, according to a recent Bank of Canada report. The banking establishment fears a challenge to its power, but consumers benefit from greater…

Canadian homebuyers remain hopeful despite challenging market conditions

Canadian homebuyers remain hopeful despite challenging market conditionsAlthough real estate is what economists call a 'lagging indicator', it appears that the first signs of a real slowdown are starting to be felt, especially in Canada's largest housing markets. After the initial response to news about the spread of Covid-19, which entailed drops in traffic on real estate platforms like Point2 Homes and…

Canadians need help now – so cut their taxes

Tax relief is instantaneous. Money is simply left in the hands of those who need it. There’s no application to be processed

Canadians need help now – so cut their taxesAs Canadians stay home to keep their communities safe in the midst of the coronavirus crisis, millions of people are out of work and countless businesses have closed their doors. It’s an unprecedented situation. Never before have governments deliberately put their economies into a coma in order to fight a health pandemic. And with the…
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