Livio di Matteo

  • Ontario can’t balance budget

    Ontario’s provincial government wants a balanced budget for the 2017-18 fiscal year, and Finance Minister Charles Sousa is adamant that Ontario will reach that goal. Given the arrival of spring budget season, the most recent Ontario Economic Outlook and Fiscal Review (from November 2014) provides some indication of where Ontario is headed.
  • Canada not ready for next recession

    THUNDER BAY -- Despite high consumer debt and housing prices, Canada went into the 2009 global downturn with several advantages that allowed it to economically outperform the other G-7 countries over the ensuing period. However, the erosion of some of these advantages means the current slowdown will be more difficult. First, Canada went into the financial crisis with the good fortune of a banking system that was strengthened in the wake of a series of failures in the 1980s.
  • Municipal revenues in Canada falling as bills pile up

    Canada is an urban nation with over 80 per cent of its population living in cities or towns. At the dawn of Confederation, the urban-rural split was exactly the opposite, with just over 80 per cent of the population in rural areas. Today, not only is Canada mainly urban, but 40 per cent of its population live in just four urban areas -- Toronto, Montreal, Vancouver and Calgary. The 10 biggest CMAs account for nearly 60 per cent of Canada's population, with cities like Toronto, Montreal and Vancouver larger than many provinces when it comes to both population and economic output.
  • Ottawa must get the deficit under control

    MARCH is often the cruellest month on the Canadian weather calendar and this March also promises a shift in fiscal climate as Ottawa moves to bring a $56-billion deficit under control. To understand why Ottawa must move quickly to restore fiscal balance to its finances, one need only look back over the economic history of the last half-century. If we are to avoid a repeat of the fiscal crisis that engulfed Canada during the period 1973-1996, we need to take steps now to ensure that the recent deficit does not become the thin edge of a new debt wedge.
  • Ontario: after the orgy

    ONTARIO’S economy has been struck hard by the recession leading to a collapse in provin­cial revenue that combined with a massive in­crease in expenditure has helped raise its defi­cit  to a historical high of $24.7 billion. As a share of GDP, this deficit comes in at 4.4 per cent, which is the worst in Ontario's economic history edging out the previous record of 4.3 per cent in 1992 during the Rae Regime.
  • Manitoba's health-care system sustainable?

    Given Canada's slowing economy, faltering government revenues, and uncertainty about Federal equalization payments, 2009 could be a tumultuous year in the province's health sector.


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