OTTAWA - Two studies on tax-free savings accounts sound alarm bells about their long-term fiscal impact if the Conservative government keeps a 2011 campaign promise to allow people to park almost twice as much money in the popular savings vehicles.
The Harper government claims to be paragons of fiscal virtue. They have pledged to balance the federal budget this year, notwithstanding a slowing economy, and are likely set to announce details of the balanced budget legislation promised in the 2013 Speech from the Throne.
The promised legislation will disallow annual deficits in “normal economic times” (whatever they are) and “set concrete targets for returning to balance in the event of an economic crisis.”
OTTAWA — B.C. experienced the worst income growth — in fact, incomes declined — of any province in Canada during the 2006-12 period, according to an analysis of Statistics Canada data by an Ottawa think-tank.
You’ve probably read stories about how Canada’s wage growth is nothing to write home about, but new research from the Broadbent Institute adds a surprising dimension to the story: No fewer than 15 of Canada’s 32 largest metro areas saw incomes slide during 2006-2012.
In a week where the U.S. President has signaled new taxes and fees on the wealthiest American individuals and corporations and where the financially and politically powerful meet in Davos, Oxfam is warning of growing inequality across the globe. Today we look at the implications of counting up the haves and have-nots.
Posted by Harry Postner · November 27, 2014 4:53 AM
Some 50 years ago, an Act of Parliament created a new permanent institution, the Economic Council of Canada. The general economic climate was considerably different back in 1963. Economics had become a high priority subject and economic policy seemed to work better if backed by economic research.
We then had the big econometric models and statistics that were providing reasonable forecasts, and economics per se was not regarded as particularly controversial.