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FRASER UPDATE
A weekly digest of our latest research, commentary, and blog posts
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Latest Research
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Raising an extra dollar of personal income tax revenue costs the Canadian economy $2.86
What Are the Economic Costs of Raising Revenue by the Canadian Federal Government? finds that for every additional ($1) dollar of personal income tax revenue collected by the federal government, $2.86 is lost in economic activity because of less investment, less entrepreneurship, less spending and other behavioural changes that shrink the tax base.
Read More [[link removed]]
Government interference with Bank of Canada often hurts Canadians
The Ebb and Flow of Bank of Canada Independence is a new study that finds for an optimal relationship between the Bank of Canada and the federal government to exist, the bank must make the costs and consequences of inflation clear to the public while the government must ensure the bank operates under their agreement that inflation targeting has in fact served Canadians well.
Read More [[link removed]]
Commentary and Blog Posts
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Ford government breaks ‘balanced budget’ promise [[link removed]]
(Appeared in the Toronto Sun) by Ben Eisen
In 2022/23, Ontario forecasts a budget deficit of $13 billion.
Long wait times for health care predated pandemic [[link removed]]
(Appeared in the Toronto Sun) by Mackenzie Moir and Bacchus Barua
Canadians could expect a median wait time of 49.2 weeks for neurosurgery.
Ottawa’s new ‘net-zero’ law takes unnecessary step towards unreachable goal [[link removed]]
(Appeared in the Calgary Sun) by Andrew Roman
China and India set targets to increase carbon dioxide emissions, not reduce them.
On government spending—Kenney kept his word, Ford did not [[link removed]]
by Ben Eisen
Between 2018/19 and 2022/23, the Ontario government expects a 6 per cent increase in inflation-adjusted per-person spending.
Ontario on track to add more than $100 billion in debt over five years [[link removed]]
by Ben Eisen
The province's net debt has climbed from $338 billion in 2018 to more than $400 billion.
At current commodity prices, Alberta could (and should) fully fund a rainy-day account [[link removed]]
by Tegan Hill and Joel Emes
According to recent forecasts, the province's resource revenue will likely be higher than forecast in Budget 2022.
Reform could shorten Nova Scotia’s brutal health-care wait times [[link removed]]
(Appeared in the Halifax Chronicle Herald) by Mackenzie Moir, Alex Whalen, and Bacchus Barua
The province's median wait time was about three months longer than the Canadian average.
Bank of Canada rate hike could cost Canadians billions in government debt interest [[link removed]]
(Appeared in the National Post) by Jake Fuss and Tegan Hill
Federal debt interest will cost a projected $42.9 billion in 2026/27.
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