Statistics Canada reported today that the economy shrank in February, driven by declines in resource extraction and manufacturing. Oil and gas extraction as well as hard-rock mining decreased due to temporary shutdowns. However, the most dramatic decline was in potash production, down 19% due to mine closures in Saskatchewan. The…
Read more
The conventional narrative about the performance Canada’s big banks during the financial crisis goes as follows: while American banks bet heavily on sub-prime real estate and had extensive shadow bank holdings, Canadian banks did not. However, the details of exactly how much each Canadian bank received, when they received it,…
Read more
I have an oped in today’s Vancouver Sun as part of its BC in 2035 series. Climate change will shape BC in 2035, one way or another We live on a different planet from the one our parents grew up on, says environmentalist Bill McKibben. Climate change from our rampant combustion of…
Read more
“The time for accountability has arrived.” These were the first words written by Stephen Harper in the Conservatives’ 2006 Election Platform, “Stand Up for Canada.” Indeed, if there is an animating theme in what would become the Conservative’s winning election message in 2006, it was the Tories insistence that they…
Read more
On 9 May 2011, the Charest government presented its Plan Nord. Its objective is to revitalize the economy north of the 49th parallel. This plan relies on natural resource extraction to breath new life into the entire province’s economy. To do so, it invests in infrastructure at the different northern…
Read more
Inequality has become a problem for all Canadians. Nationwide, 3.8% of households control about 67% of total financial wealth. The Conference Board of Canada recently addressed the issue, finding that, “High inequality can diminish economic growth if it means that the country is not fully using the skills and capabilities…
Read more
I wanted to tip my hat to the hard working folks at the PBO for a particularly revealing Economic and Fiscal Outlook that was published today. While the PBO has more than once eaten my lunch on various issues, they’ve done a superb job of looking at Canada’s economic and…
Read more
Many sectors of Canadian society are still in shock, reeling from the recent budget cutbacks announced by the Harper Conservatives. The CBC, the National Film Board, Elections Canada, Canadian Border Services, Atlantic Canada Opportunities Agency, Veterans Affairs, and Fisheries and Oceans have all been slashed. While the government has said…
Read more
With the Alberta Tories proving so many pollsters and pundits wrong after their convincing win last night, one might be forgiven for writing off the ultra-conservative Wildrose Party as an otherwise historic footnote in the annals of Alberta’s Tory dynasty. That, I argue, would be a mistake. First, let’s look…
Read more
Last week, the Ontario Public Service Employees Union released an interesting report by the Centre for Spatial Economics on the economic impact of proposed provincial budget cuts. It provides a timely reminder that the public sector is a crucial component of the economy, with public spending also supporting many private-sector…
Read more