July 2015
AN ENCOURAGING START BUT NOT LIKELY TO LAST
In the April 2015 Budget a surplus of $1.4 billion was forecast for this year. The forecast also included a Contingency Reserve of $1 billion. However, for the first five months of the year economic activity has been declining. Private sector forecasters, the IMF and the Bank of Canada have all revised down their forecasts of economic growth by about one percentage point.
Read MorePAYING (or not paying) FOR ELECTION PROMISSES-UPDATED
With Parliament recessed for the summer and an election call imminent, all three major political parties will now spend the coming weeks making new election promises. All of these promises - past and future - will cost taxpayers a great deal of money. The question is how will they pay for them?
Read MorePAYING (or not paying) FOR ELECTION PROMISSES
With Parliament recessed for the summer and an election call imminent, all three major political parties will now spend the coming months outlining their campaign promises. All of these promises - past and future - will cost taxpayers a great deal of money. The question is how will they pay for them?
Read MoreDeja Vue all over again
In the fall of 2008, private sector economists were forecasting that the Canadian economy was already in a recession due to the financial crisis. Prime Minister Harper and his finance minister, the late Jim Flaherty, ignored these warnings and told Canadians there was nothing to worry about. The Prime Minister even advised Canadians that it was a good time to buy stocks, given the fall in equity prices.
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