Since COVID-19 touched down, Ottawa has dished out $511 billion!
When governments subsidize something, you can expect more of it. With the federal government covering the cost of keeping workers and businesses afloat during provincial lockdowns, it’s no surprise that provincial politicians are biased toward new restrictions. Since COVID-19 touched down, Ottawa has dished out $511 billion through direct subsidies, tax deferrals and low-interest loans.…
The solution to the housing crisis is to build more homes, not raise taxes
By Franco Terrazzano and Kris Sims Canadian Taxpayer Federation The federal government is using tax dollars to dream up a new way to hammer homeowners. In 2020, the online news site Blacklock’s Reporter discovered the federal government funnelling $250,000 through the Canada Mortgage and Housing Corporation to figure out how to improve housing affordability. The…
The government answer to any problem is to hammer Canadians with higher taxes
By Franco Terrazzano and Kris Sims Canadian Taxpayers Federation As we head into the third year of revolving government lockdowns, Canadians have every right to be furious. But we shouldn’t let politicians divide us. And we shouldn’t be duped into believing that we are going to tax our way out of a pandemic. “We’re looking…
Cut the gas excise tax and deliver meaningful savings to everyday Ontario families
The countdown is on to get a gas tax cut in the province of Ontario. Late last year, Ontario Premier Doug Ford said he would keep his promise to cut the provincial gas excise tax by 5.7 cents per litre, nearly four years after he first made the commitment to Ontario voters. After years of…
Since 2022 is almost here, it’s time to reflect on what has happened the past year and anticipate what lies ahead. Food inflation obviously affected most food categories this year, which is why the last 12 months have been challenging for Canadians, at the grocery store and at restaurants. Canada’s Food Price Report 2022 was…
A large portion of deficit spending is artificially inflating demand, and prices
Many factors influence prices, but that doesn’t mean politicians should be let off the hook for the rising cost of living. By printing new dollars, propping up consumer demand, discouraging production and raising taxes, Canadian governments have created the perfect storm for rising prices: more dollars chasing fewer goods. Since February 2020, the Bank of…
The Parliamentary Budget Officer’s data projects the feds running deficits until 2070
Sometimes it’s what people don’t say that reveals the most. And the federal government’s failure to mention the deficit or debt in the Throne Speech is all too revealing for taxpayers worried about the erosion of Canada’s national finances. For a government that is nearly doubling its entire pre-pandemic debt in six years, deficits should…
The current European/Asian energy crisis is a preview of what we can all expect in the years ahead
Industry and environmentalists are on a clash course. The 23rd World Petroleum Congress in Houston last week was enough to highlight the emerging trends, complexities and challenges faced by the oil and gas industry. The message from the industry was clear – a global oil scarcity is on the horizon. Underinvestment since oil prices began…
Families are getting soaked by higher prices while politicians are asleep at the wheel
The federal government is putting on a masterclass about how to increase the cost of living. It’s doing everything from raising taxes during the middle of a pandemic to massive government borrowing and money printing. Now the question is: will any politician do anything to fight inflation? The latest report from Statistics Canada shows prices…
He's right to criticize Trudeau for borrowing too much money. But he has a credibility problem
Conservative Party Leader Erin O’Toole wants to blast Prime Minister Justin Trudeau over inflation. And the prime minister is certainly vulnerable as rising prices at the gas pump and grocery store illustrate the risks of runaway government spending. But using O’Toole’s policies to fight inflation would be like using gas to put out a fire.…
Emissions going up despite the province having the highest carbon taxes in North America
Carbon taxes are an expensive failure when it comes to reducing emissions Emissions in British Columbia are going up despite the province having the highest carbon taxes in North America. Think you’ve read this before? That’s because this keeps happening. If the definition of insanity is doing the same thing over again while expecting a…
It’s possible to live a principled life, working hard to make a better world and still enjoy relative comfort
Growing up Christian in an affluent society, there was a passage from scripture that always left me perplexed: “No one can serve two masters. For you will hate one and love the other. … You cannot serve God and money.” (Matthew 6:24) Did this mean that I was to sell all I owned and become…
Online financial education is changing the game, threatening to impact financial advisers
One-third of Canadian millennials prefer going solo when it comes to managing and investing their money. Online financial education and tools are changing the rules of the game, threatening to affect financial advisers in the same manner emails impacted mail carriers. A recent poll conducted by Finder.com revealed that 33.7 per cent of millennials prefer…
Those who care about the climate act; those who care about blah blah blah will all be in Glasgow
The Cop26 climate summit starts in Glasgow, UK, on October 31, and countries must deliver tougher pledges to cut emissions to keep the goal of 1.5C within reach. According to the UN, carbon emissions will rise by 16 per cent by 2030, rather than fall by half as governments previously agreed to in Paris at…
Our ratio of net debt to GDP is almost as high as it was in 1995 when Canada was really in a fiscal crisis
The Liberals made some big spending promises during last month’s election campaign, amounting to $78 billion in new spending over the next five years. These promises come on top of the existing baseline, which was already no model of austerity. The federal budget was bloated before the pandemic, and even after excluding some necessary public…
When governments subsidize something, you can expect more of it. With the federal government covering the cost of keeping workers and businesses afloat during provincial lockdowns, it’s no surprise that provincial politicians are biased toward new restrictions. Since COVID-19 touched down, Ottawa has dished out $511 billion through direct subsidies, tax deferrals and low-interest loans.…
