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Thursday, Apr. 16, 2015 5:00AM EDT
The federal budget to be introduced on April 21 should have one clear priority – to boost public and private investment so as to create jobs now and a more productive and sustainable economy tomorrow.
The slowing Canadian economy continues to be mainly driven by household borrowing fuelled by ultra-low interest rates. With wages stagnant, families are still going deeper into debt to spend more than they earn, setting the stage for a nasty housing crash and a rude shock to family finances down the road.More »
Wednesday, Apr. 15, 2015 5:00AM EDT
It has been more than 18 months since the last time we used this column to discuss the macroeconomic background of the world’s largest economy, and our main trading partner, the United States. Those who follow us know that we are very optimistic about the strength of the U.S. recovery, which has in fact entered the expansion phase since late 2013. But like in all things, nothing is ever all black or white, so let’s have a look at where we are a quarter into 2015.More »
Friday, Apr. 10, 2015 5:00AM EDT
One of the best spin words used to justify government spending is the word “investment.” It implies that tax dollars are being used for something that will bring future prosperity. The word itself is impervious to criticism. Yet most government spending isn’t really investment at all. It’s just spending on things voters like.More »
Wednesday, Apr. 08, 2015 5:00AM EDT
It appears more and more likely that the global commodity supercycle has come to an end. While the recent collapse in oil prices has attracted much of the focus, prices for many commodities across the board have softened. These commodities include energy, metals and agricultural products, all of which are important to Canada. No one has a crystal ball but if the commodity supercycle is indeed winding down, Canada will surely be affected.More »
Tuesday, Apr. 07, 2015 5:00AM EDT
From Alberta to Nova Scotia, and especially in Ontario, spring has ushered in fresh discussions about climate policy. On Tuesday, Canada’s Ecofiscal Commission (which I chair) released a new report, The Way Forward, with specific recommendations for how Canadians can make real progress in reducing greenhouse gas emissions (GHG). The report’s two main recommendations will be surprising to many people, but for quite different reasons.More »