Feds need to provide the analytical basis for new programs, like the superclusters project
TORONTO—In predicting that the promised economic benefits from the centrepiece of the government’s innovation strategy will fall far short of what Industry Minister Navdeep Bains has promised, the Parliamentary Budget Office has turned the spotlight on the government’s much ballyhooed superclusters project. This provides an opportunity for the House Industry Committee to review the program—pluses […]
Economic inequality, COVID-19, and the butterfly effect
Back in 2013, when Beyoncé was Drunk in Love, Justin Bieber was breaking up with his pet monkey, and Donald Trump was still tweeting about Barack Obama’s birthplace, a literary phenomenon was born. The book Capital in the Twenty-First Century by French economist Thomas Piketty was published in the original French in August of that year. By May 2014, […]
New COVID-relief programs could cost upwards of $14.6-billion, says PBO
A four-week extension of the now-defunct Canada Emergency Response Benefit could cost Ottawa an additional $5.36-billion this year, according to a new analysis from Canada’s budget watchdog, while new measures approved by Parliamentarians last week could cost more than $14.6-billion. The Parliamentary Budget Officer shared four costing notes Wednesday: three assessing the cost of the […]
Pandemic throws line-by-line approval of billions of dollars in spending off course
Billions of dollars in spending to keep government operations going have yet to be formally approved by the House after the pandemic forced MPs to defer scrutiny to December, throwing off the usual course of parliamentary business. This year’s main estimates, setting out $304.6-billion in federal spending, were first introduced in February but were never […]
If we are truly ‘strong and resilient’ the government should act on the debt
OTTAWA—Like many Canadians, I skipped watching the Speech from the Throne and the prime minister’s “non-political chat” last week. It was unusual, as I have always been interested in the speech, especially as a public servant when I contributed a sentence or two. This time, I thought it was a waste of time, as I […]
Canada’s pandemic spending ‘barely sustainable,’ says PBO, projecting $328.5-billion deficit
Spending commitments outlined in the Liberals’ Throne Speech last week could plunge the country’s finances deeper into the red, says the Parliamentary Budget Officer, who released a new report estimating the federal deficit could hit $328.5-billion. Speaking to reporters through a videolink on Tuesday, Yves Giroux said that, under “current policy parameters” his office took […]
Three possible election date scenarios
There are three possible election date scenarios facing Canadians: the first coming on the heels of the Speech from the Throne, presumably on a non-confidence vote; second, a non-confidence motion put after a fall budget or economic update; and lastly, a vote of non-confidence following a spring budget. In all three scenarios Prime Minister Justin […]
At last, a break from the tyranny of supply-siders
OTTAWA—I may have missed it, but I don’t think we’ve heard from Conservative finance critic Pierre Poilievre on his new party leader Erin O’Toole’s position that a Conservative government would take 10 years to balance the government’s books. The usual Conservative obsession with deficits has been evident in Poilievre’s repeated complaints as Prime Minister Justin […]
Recovery measures for ‘national safety net’ should be in place before any talk of election, says Singh
NDP Leader Jagmeet Singh says his parliamentary colleagues should secure and pass recovery supports for Canadians as the federal government transitions people off the Canadian Emergency Response Benefit and onto Employment Insurance, before considering holding an election. Speaking to reporters Friday morning, Mr. Singh (Burnaby South, B.C.) said his party’s “goal” is not to send […]
Is wielding a rubber stamp the price of keeping a job in Trudeau’s cabinet?
Ministers in Justin Trudeau’s cabinet have learned a hard lesson in recent times: disagreeing with the boss is hazardous to one’s political career. His latest victim was Canada’s chief financier, Bill Morneau, who was cut loose supposedly after a policy disagreement with his boss, making way for the more congenial Chrystia Freeland. Although prime ministers […]
