The fall economic statement does include several revenue-raising tax measures.
COVID-19 has “for all intents and purposes shut down immigration.”
While it would always be preferable to balance the budget, there is little reason to worry about running a deficit equaling roughly one per cent of GDP.
Spending more on infrastructure would boost Canada's economy, Poloz argues.
Economists liken falling gas prices to “an instant tax cut,” and if gas prices stay as low as they are, that “tax cut” will
The federal government now appears once again poised to balance its budget after several years of deficit spending. A step backwards in the direction of borrowing and spending more would be a huge loss with little economic reward.
With federal Finance Minister Jim Flaherty poised to unveil his 2014 budget on February 11, early signs point to a business-as-usual budget with his government staying focused on eliminating the deficit in 2015 and creating the fiscal room to provide tax relief in next year's budget. But Flaherty could take a different approach and positively surprise Canadians.
Prime Minister Stephen Harper and Finance Minister Jim Flaherty went to Russia for the G20 conference this week, and decided that this would be a good time to pressure the world into cutting government spending and implementing austerity measures. Unfortunately, to the leaders at the G20 -- stuck as they are between deficits and sinking economies, between the option of printing money and doing nothing -- Harper and Flaherty are just as likely to come off as a bunch of self-righteous jerks.