Bank of Canada doesn’t deserve its bonuses and pay raises

The Bank has one job: to keep inflation around two per cent. It failed

Bank of Canada doesn’t deserve its bonuses and pay raisesIt feels odd to explain this basic principle, but apparently, it’s not obvious to everyone: bonuses and pay raises are for doing a good job. While the Bank of Canada was sowing the seeds of today’s high inflation during the early days of the pandemic, it was also padding its employees’ pockets with bonuses and…

Summertime and inflation ain’t easy

Controlling inflation with interest rates can work, but at a terrible cost

Summertime and inflation ain’t easySummer heat isn’t the only thing making Canadians sweat this summer; abnormally high inflation and rising interest rates are putting the heat on many Canadians. We’ve gone from 0 per cent inflation in August 2020 to 8.1 per cent in June 2022. That’s really fast. The last time we saw anything like it was 1970-73…

Nothing prudent about Trudeau government’s budgeting

The Trudeau government needs to rein in the years of overspending, set a concrete timeline, and plan to balance the budget

Nothing prudent about Trudeau government’s budgetingThere’s great irony in Finance Minister Chrystia Freeland touting the government’s “fiscal restraint” on the same day taxpayers find out that the governor general and her fellow passengers racked up an $80,000 bill on in-flight catering. “I know that my fiscal prudence surprised many,” said Freeland during her keynote address on affordability. “This fiscal restraint was…

Each Canadian owes $56,000 in government debt

We’re being bribed with our great-grandchildren’s money

Each Canadian owes $56,000 in government debtFifty-six thousand dollars. That’s the average amount each Canadian will owe in provincial and federal government debt by the end of the year. Much of this debt will likely be shovelled onto the backs of Canadians’ kids and grandkids. As columnist Chris Nelson warns, “we are no longer being bribed with our own money. We’re…

Ontario politicians plotting to double dip on the taxpayer dime

It’s time for taxpayers to get out of the political party welfare business

Ontario politicians plotting to double dip on the taxpayer dimeOntarians should listen for a giant sucking sound from Queen’s Park. Now that the election is over and MPPs know that they don’t have to directly answer to voters for another four years, you can bet that Ontario’s political parties will team up once again to funnel even more money from taxpayers’ wallets into party…

And the winner is: more stories of government waste

Canada is more than $1 trillion in debt. Maybe it’s time to stop wasting taxpayers’ money

And the winner is: more stories of government wasteBy 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…

Stabilizing volative Alberta government revenues

And help Albertans cope with the scary roller coaster that is the economy

Stabilizing volative Alberta government revenuesAlbertans received the pleasant news that their deficit-plagued provincial government might bank a surplus for their concluding fiscal year and could very well experience the same this year. The reason for this happy state of financial affairs is the elevated price levels of oil and natural gas – coming just as a resurgence in the…

Canada’s electric vehicle ambitions are pure foolhardy fantasy

Here are facts for Canadians forced to face the real-world impact

Canada’s electric vehicle ambitions are pure foolhardy fantasyThe marvellous Christmas movie The Polar Express, starring the inimitable Tom Hanks, ends with the words “anything is possible, if you only believe.” Except, as adults understand, many things aren’t possible, not even if some people do believe them. An obvious example is the fantasy that the 84 per cent of global energy supplied by…

Ontario taxpayers set to choose from three unpalatable options

All three major party leaders are promising to run record-high deficits

Ontario taxpayers set to choose from three unpalatable optionsWhen election day arrives, it appears as though Ontarians will have a choice in which poison pill to swallow: record deficits with Premier Doug Ford, Liberal leader Steven Del Duca, or NDP leader Andrea Horwath. It’s an unfortunate consensus: the three major party leaders are promising to run record-high deficits. But no matter what Ontario’s…

Trudeau looking at a wealth tax to pay for soaring spending

Its impact on the overall economy means everyone will suffer

Trudeau looking at a wealth tax to pay for soaring spendingPrime 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…
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