And putting your parents' future financial security at risk?
Inflation and supply chain issues are putting affordability matters at the forefront for Canadians. People worry about the cost of childcare and entering the housing market. People planning for retirement or already in retirement worry if they have enough to live the lifestyle they hoped. The Bank of Canada has warned that the low rates…
The Liberals should stop acting like they're considering taxing the sale of your home
By Franco Terrazzano and Kris Sims Politicians think we should trust them just because they pinky promise not to impose a home equity tax, but Canadians pay members of Parliament to do more than talk a good game. MPs need to prove they won’t bring in a home equity tax by scrapping the requirement to…
Canada is more than $1 trillion in debt. Maybe it’s time to stop wasting taxpayers’ money
By Franco Terrazzano and Kris Sims How do you scare a polar bear? You don’t. They are apex predators and could eat you whenever they want. But that didn’t stop the government of Manitoba from spending $150,000 replacing diesel tundra buggies with whisper-quiet electric vehicles so tourists wouldn’t frighten the bears away. Too bad they…
It's time our politicians did what's right and cut taxes to help Canadians afford their daily needs
As far as Canadian politicians are concerned, the soaring cost of living is like winter slush, summer mosquitos and other unfortunate forces of nature. They would love to help, but what can they do? Here’s an idea: our politicians just need to follow the lead of other countries and cut the stack of hidden taxes…
The food we buy is always changing, so keeping customers engaged with brands is challenging
Sobeys recently decided to dump Air Miles and start its own loyalty program. Empire Co. Ltd., Sobeys’ parent company, is joining the Bank of Nova Scotia and Cineplex as co-owners of the Scene+ program. This move by Sobeys is no coincidence. As we brace for higher food prices and cope with a post-COVID-19 workforce still…
Supply management pushed up to 190,000 Canadians into poverty
By Krystle Wittevrongel and Gabriel Giguère New Zealand had never launched a dispute under a free trade agreement until two weeks ago, on May 12, when it launched a trade dispute against Canada under the Trans-Pacific Partnership (TPP), accusing our government of breaking its promises on dairy imports. This was also the first dispute launched…
Bracket creep has cost taxpayers too much for too long
If a business overcharged you by $450, you might want an explanation. The least that business could do is stop overcharging you in the future. Prices for everything from groceries to gasoline are going up fast enough without overcharges on top. Prince Edward Island MLAs owe Islanders an explanation about their income tax bills. The…
Liberal claims of “making life more affordable” since 2015 is hogwash
By Franco Terrazzano and Kris Sims There was a clash between reality and the federal Liberal Twitter account last week. The self-congratulatory tweet claimed Liberals have been “making life more affordable” since 2015. When Canadians look at gas prices, grocery store receipts and mortgage payments, that claim might raise eyebrows. Does life feel more affordable…
Buying only what we really need eases our budgets, simplifies our lives and cools the economy
Inflation is a relatively new concept to younger people, who have never experienced the onslaught of rising prices. It’s chilling to those who have lived through or learned of times when hard-earned and well-saved money depreciated in value. Monetary policy in Canada aims to keep inflation at or under two per cent. The latest rate…
Its impact on the overall economy means everyone will suffer
Prime Minister Justin Trudeau is eyeing a wealth tax to pay for his government’s spending spree. Heavily redacted documents obtained by the Canadian Taxpayers Federation show Trudeau asked for an analysis of a $60-billion wealth tax. With indefinite deficits looming, it must be tempting to grab that cash. But a wealth tax would inflict economic…
And OPEC is in no mood to open taps to fill in any gaps created by the absence of Russian crude
The oil markets are likely to face another round of supply disruptions. Most indicators point to a bullish trend in the near future. After recently announcing the release of over 180 million barrels of crude oil from its strategic reserves (SPR) over the next six months to cool down the markets, the United States government…
Urban containment regulations on the urban fringe must be relaxed
For 18 years, I have been monitoring international housing affordability as author or co-author of the Demographia Housing Affordability series. The latest edition rates 92 major markets in eight nations using the “median multiple”: the median house price in a place divided by the median pre-tax household income. In the early 1990s, median multiples in…
High inflation distorts the application of the capital gains taxes that many of us pay
By Valentin Petkantchin and Olivier Rancourt Montreal Economic Institute The 5.7 per cent year-on-year inflation Canada registered in February has not been seen since the early 1990s. Expansionary monetary policies and the economic sanctions accompanying the Russia-Ukraine war suggest that significant inflation is here for a while. High inflation not only erodes our purchasing power,…
Ontarians need relief, and they need it urgently
Affordability is the elephant in the room as Ontario approaches this June’s provincial election, and it’s time for Ontario’s politicians to address it before they get trampled. All three of Ontario’s major political parties plan to speak to the issue of affordability in their platforms. The Ford government has been busy eliminating user fees for…
Ontarians need urgent action, not vague future promises
When Ontario Premier Doug Ford finally announced his intention to deliver on gas tax relief after four years of delays, the Canadian Taxpayers Federation supported the move. Make no mistake; a gas tax cut is good news for Ontario taxpayers. As gas prices soar and Ontarians face the highest inflation levels in 30 years, relief…