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FRASER UPDATE
A weekly digest of our latest research, commentary, and blog posts.
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Latest Research Mar 23-29, 2020
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Trudeau government gets unlimited spending authority for six months
On Wednesday, the government passed legislation (which the Opposition members either supported or acquiesced to) giving sweeping powers to Finance Minister Bill Morneau, including the power to unilaterally spend and borrow without parliamentary approval until September 2020.
Read More ([link removed])

Boost EI but don’t create new wage subsidy program
As part of the $52 billion aid package to support Canadian workers and businesses, which the House of Commons and Senate approved Wednesday, small businesses will be eligible for a temporary wage subsidy to help prevent layoffs. The $3.8 billion program will provide up to $25,000 in subsidies per employer.
Read More ([link removed])

Recent Commentary and Blog Posts
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Ontario reduces hydro rates yet fundamental problems still plague province’s electricity market ([link removed])
by Elmira Aliakbari, Ashley Stedman, and Jairo Yunis.
Solar and bioenergy generators absorb 15 per cent of the surcharge yet generate only three per cent of Ontario’s electricity.

Don’t shoot the financial-market messenger ([link removed])
by Stephen Kirchner. 
Financial markets are responding to an induced recession.

What is Modern Monetary Theory and why is it gaining currency in these volatile times? ([link removed])
by Steven Globerman.
Providing income support to workers and businesses involves large increases in government expenditures.

Ottawa’s ‘Emergency Response Benefit’ leaves many unanswered questions ([link removed])
By Tegan Hill, Milagros Palacios, Alex Whalen.
Effectively, the CERB will now cost $40 billion, up from $15 billion.

If history is any guide, COVID-19 will transform Canada in heretofore unknown ways ([link removed])
by Livio Di Matteo. 
When the First World War began, there was no expectation that it would spawn an entirely new tax system.

Finance minister can access ‘all money required’ without consulting Parliament ([link removed])
by Lydia Miljan. 
When we learned that the first cases in Canada were from overseas flights, no measures were taken to screen passengers from infected areas.

Price controls and anti-gouging laws make matters worse ([link removed])
by Steven Horwitz.
Letting the price of scarce goods rise forces us to use the limited supply of the good for the most important purposes.

The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute's independence, it does not accept grants from governments or contracts for research. For more, call (800) 665-3558 ext. 590.

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