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  • Towards Justice: Tackling Indigenous Child Poverty in Canada July 9, 2019
    CCPA senior economist David Macdonald co-authored a new report, Towards Justice: Tackling Indigenous Child Poverty in Canada­—released by Upstream Institute in partnership with the Assembly of First Nations (AFN) and the Canadian Centre for Policy Alternatives (CCPA)—tracks child poverty rates using Census 2006, the 2011 National Household Survey and Census 2016. The report is available for […]
    Canadian Centre for Policy Alternatives
  • Fossil-Power Top 50 launched July 3, 2019
    What do Suncor, Encana, the Royal Bank of Canada, the Fraser Institute and 46 other companies and organizations have in common? They are among the entities that make up the most influential fossil fuel industry players in Canada. Today, the Corporate Mapping Project (CMP) is drawing attention to these powerful corporations and organizations with the […]
    Canadian Centre for Policy Alternatives
  • Tickets available for Errol Black Chair Fundraising Brunch 2019 June 26, 2019
    You are invited to CCPA-MB’s annual fundraising brunch in support of the Errol Black Chair in Labour Issues.  Please join us to honour: Honoured Guest: John Loxley is Professor of Economics at the University of Manitoba and a Fellow of the Royal Society of Canada. Guest Speaker:  Jim Stanford is Economist and Director of the Centre […]
    Canadian Centre for Policy Alternatives
  • The fight against ISDS in Romania June 24, 2019
    CCPA is proud to co-sponsor this terrific video from our colleagues at Corporate Europe Observatory. It chronicles grassroots resistance to efforts by Canadian mining company Gabriel Resources to build Europe’s largest open-pit gold mine in a culturally rich and environmentally sensitive region of Romania. After this unimaginably destructive project was refused by the Romanian public and courts, the […]
    Canadian Centre for Policy Alternatives
  • A critical look at BC’s new tax breaks and subsidies for LNG May 7, 2019
    The BC government has offered much more to the LNG industry than the previous government. Read the report by senior economist Marc Lee.  
    Canadian Centre for Policy Alternatives
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Archive for 'debt'

Alberta must find alternatives to cutting social spending

I have an opinion piece in today’s Edmonton Journal about Alberta’s current fiscal situation. Points raised in the blog post include the following: -The Jason Kenney government will almost certainly announce cuts to social spending in the near future. -Yet, more than 80% of Alberta’s kindergarten through Grade 3 classes currently exceed the provincial government’s […]

Ontario Electricity VII – Committee Testimony

The PC Government in Ontario has introduced Bill 87 which would eliminate the rate-based borrowing to subsidize electricity prices and replace it with Government borrowing. Last week’s Provincial Budget estimates that the required borrowing to subsidize electricity prices for 2018/19 was $2.8 billion. It is likely to exceed $3 billion in 2019/20. Ontario is the […]

Low taxes are nothing to brag about

I’ve written an opinion piece that appears in today’s Regina Leader-Post. The piece argues that the Saskatchewan government shouldn’t brag about the province’s low-tax climate (which it recently did). Rather, I argue that taxes serve important functions. The link to the opinion piece is here.

Crashed: How a Decade of Financial Crises Changed the World

Book Review Adam Tooze. Crashed: How a Decade of Financial Crises Changed the World. Viking. New York. 2018 The global economic crisis is now more than a decade old, and is far from definitively behind us. Indeed, many fear, with good reason, that the recent, uneven and lethargic global recovery may soon come to an […]

An Analysis of Financial Flows in the Canadian Economy

An essential but perhaps overlooked way of looking at the economy is a sector financial balance approach. Pioneered by the late UK economist Wynne Godley, this approach starts with National Accounts data (called Financial Flow Accounts) for four broad sectors of the economy: households, corporations, government and non-residents. Here’s how it works: in any given […]

Ten things to know about the 2018 Saskatchewan budget

I’ve written a ‘top 10’ blog post about the recently-tabled Saskatchewan budget. Points raised in the blog post include the following: -This year’s budget was quite status quo. -Last year’s budget, by contrast, included a series of cuts to social spending. Last year’s budget also announced cuts to both personal and corporate income taxes that […]

Five things to know about the 2018 Alberta budget

On March 22, the NDP government of Rachel Notley tabled the 2018 Alberta budget. I’ve written a blog post discussing some of the major ‘take aways’ from the standpoint of Calgary’s homeless-serving sector (where I work). Points made in the blog post include the following:  this was very much a status quo budget; Alberta remains […]

Panel discussion at federal NDP policy convention

Yesterday I spoke on a panel discussion on economic inequality, along with Andrew Jackson and Armine Yalnizyan. We were guests at the federal NDP’s policy convention in Ottawa. The panel was moderated by Guy Caron. Topics covered included the minimum wage, basic income, affordable housing, the future of jobs, gender budgeting, poverty among seniors, Canadian […]

Fiscal situation of Canada’s ‘oil rich’ provinces

I’ve just written a blog post about the fiscal situation of Canada’s ‘oil rich’ provinces (i.e., Alberta, Saskatchewan and Newfoundland and Labrador). It consists of a summary of key points raised at a PEF-sponsored panel at this year’s Annual Conference of the Canadian Economics Association. Points raised in the blog post include the following: -The […]

A Response to the 2017 Saskatchewan Budget

I have an opinion piece on Saskatchewan’s recent budget in the Regina Leader-Post. Points raised in the opinion piece include the following: -Reductions in personal and corporate income taxes help the rich more than the poor (and this budget cut both personal and corporate income taxes). -Increases in sales tax hurt the poor more than […]

A Review of the 2017 Alberta Budget

Over at the web site of the Calgary Homeless Foundation, I’ve written a review of the recent Alberta budget. Points I make in the blog post include the following: -Alberta remains the lowest-taxed province in Canada. -Alberta’s net debt-to-GDP ratio remains the lowest in Canada. -For the third consecutive year, the Rachel Notley government announced […]

The Alternative Federal Budget 2017

This year’s Alternative Federal Budget (AFB) was released on March 9. I was proud to be the primary author of its housing chapter (that chapter is available in English here and in French here). The first AFB exercise began in 1994, with the first AFB being published in 1995. That involved a joint effort between […]

Poverty Reduction in Alberta

Over at the web site of the Calgary Homeless Foundation, I’m co-author of a blog post titled “Poverty Reduction in Alberta.” Points raised in the blog post include the following: -The NDP government of Premier Rachel Notley has undertaken important poverty-reduction initiatives since forming a government in 2015. -Alberta (relative to other provinces) has a […]

The Federal Role in Poverty Reduction

Over at the web site of the Calgary Homeless Foundation, I’m co-author of a blog post titled “The Federal Role in Poverty Reduction.” Points raised in the blog post include the following: -Canada’s Minister of Families, Children and Social Development has been tasked to lead the development of a Canada Poverty Reduction Strategy. -Total public […]

Ten things to know about the 2016-17 Alberta budget

Over at the web site of the Calgary Homeless Foundation, I have a blog post titled: “Ten things to know about the 2016-17 Alberta budget.” The link to the post is here.

Deficit Déjà Voodoo again in New Brunswick

The Fredericton Daily Gleaner published an op-ed I wrote about how the province doesn’t have a structural deficit, despite the government claiming it does. The commentary piece is behind a pay wall so I’ve copied it below. Last month, CUPE New Brunswick also published a paper I wrote on this issue, Deficit Déjà Voodoo: is New […]

ROCHON: Greece, Syriza and the Euro

This is a guest blog post from Louis-Philippe Rochon. Follow him on Twitter @Lprochon. — What a tumultuous few weeks we witnessed in Greece. Though the victory of Syriza was ill-received in particular in Germany and the European Central Bank, it was nonetheless a resounding victory for democracy. This victory may now spill into other […]

Seccareccia on Greece, Austerity and the Eurozone

Over at the blog of the Institute for New Economic Thinking, Ottawa U professor Mario Seccareccia has given an interview titled “Greece Shows the Limits of Austerity in the Eurozone.  What Now?” The interview can be read here.

Corporate Cash Stash Surpasses National Debt

Today’s National Balance Sheet Accounts indicate that the amount of cash held by private non-financial corporations in Canada soared from $591 billion in the third quarter of 2013 to $626 billion in the fourth quarter of 2013. Corporate Canada’s accumulated stock of cash now exceeds the federal government’s accumulated deficit, which was $612 billion at […]

Do High Tuition Fees Make for Good Public Policy?

This afternoon I gave a presentation to Professor Ted Jackson’s graduate seminar course on higher education, taught in Carleton University’s School of Public Policy and Administration.  The link to my slide deck, titled “The Political Economy of Post-Secondary Education in Canada,” can be found here. Points I raised in the presentation include the following: -Tuition […]

Beating Back the Ghosts: Be Gone Appeals to Reinhart and Rogoff Authority. Welcome the Triumph of Reason.

They’ve haunted me.  Incessantly.  The ghosts of Reinhart and Rogoff.  Their research here, there, everywhere. Bank of Canada speeches? Yes.  Finance Department talking points? Check. House of Commons debates? Yup.  Globe editorials? Ditto.  Discussions with fellow progressives? Sadly, yes. Results? Arguments conjured in their name.  Reason decapitated.  Modern Monetary Theorists (MMT) banished to the netherworld […]

Ontario hiding savings from lower interest rates

The Ontario government Fall Economic Statement and Fiscal Review ignores and hides billions savings the province will gain from lower borrowing rates in coming years. While this statement acknowledges that borrowing rates will be considerably lower in coming years–and more than 100 basis points lower in 2014–their forecast of debt interest costs (on page 85) […]

Household debt going from bad to worse

Canadians are now more indebted than either Americans or the Brits at the peak of their housing bubble.  Statistics Canada today revised the national accounts.  The result on the household debt front was that instead of Canadian households having a debt to disposable income ratio of 154, it has now been revised upwards to 166. […]

Pour en finir avec la dette…

The previous post reflects a general mood about the Québec election and its perennial debates, constitutional and otherwise. Nonetheless, for all the talk about Québec’s specificity, many economic discussions bear striking resemblance to what is happening in the rest of North America. Worry about the public debt is one of them, one that has taken […]

Dead Money

Kudos to Bank of Canada Governor Mark Carney for raising the profile of the over $500 billion Canadian corporations are holding in excess cash surpluses and not investing in the economy, which garnered front page coverage (and kudos to the CAW for inviting him to speak.) It’s not the first time he’s raised this  concern. […]

Fiscal “Crisis” In Context: Two Indicators

With all the predictions of doom and gloom coming from the austerity camp, one would think that Canada was already about to hit the famed (but never seen) “debt wall.”  Before we get too carried away, however, with the scary debt stuff, consider these two indicators of the fundamental fiscal fragility/stability of Canadian governments. The […]

US family net worth crushed by financial crisis

The US Federal Reserve today released its triennial examination of incomes and net worth of American households in the Survey of Consumer Finances.  It shows the crushing effects on net worth of a housing and financial bust unparalleled since the great depression. The shocking results of this study overviewed in the New York Times are […]

Canada’s Self-Imposed Crisis in Post-Secondary Education

On June 7, I gave a keynote address to the Alberta Union of Provincial Employees Education Sector Conference.  My PowerPoint presentation (with full references) can be found at this link. Points I raised in the address include the following: -Canada’s economy has been growing quite steadily over the past three decades, even when one adjusts […]

Record Low Interest Rates Mean Governments Can Save By Borrowing More

Today’s record low interest rates on long term Canadian government bonds present a fantastic opportunity to save money by borrowing more. Back last December I wrote a post pointing out that the federal government could and should be much more aggressive in locking in low interest rates by shifting new borrowing to long term bonds […]

Quebec Tuition: Between a Rock and Hard Place?

In the context of student protests over Quebec tuition fees, my friend Luan Ngo has just written a very informative blog post on Quebec’s fiscal situation. While I encourage readers to read his full post, I do want to use the present space to make mention of three important points he makes: -On a per […]