Global corporate tax rate will hamstring economy

A global minimum corporate tax is a 20th-century solution imposed on the 21st-century, where the digital realm is disrupting taxation

Global corporate tax rate will hamstring economyWorld leaders should resist U.S. pressure to enact a global minimum corporate tax, despite a recent move by the G7 countries to adopt the plan. It would harm corporations, small companies, workers and consumers while discouraging investment and wealth creation. If anything, the world needs more competition for post-pandemic recovery. U.S. Treasury Secretary Janet Yellen’s…

Canada’s crypto crackdown does a disservice to the market

Canada must emulate countries such as Liechtenstein and Malta, which adapted legislation in advance to attract crypto entrepreneurs

Canada’s crypto crackdown does a disservice to the marketThe Canadian cryptocurrency industry knew mainstream adoption would inevitably come with a regulatory load, especially after the 2019 collapse of the largest exchange at the time, QuadrigaCX. Participants, however, didn’t expect regulators to come with one of the most heavy-handed approaches possible. On March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory…

How to cool Canada’s overheated housing market

To incentivize affordable housing, officials need to slash taxes and red tape

How to cool Canada’s overheated housing marketAs economists Jake Fuss and Tegan Hill have warned, the macro effects of government stimuli to address COVID-19 lockdowns are starting to emerge. In Canada, they have taken the form of an overheating housing market. With mortgage rates plunging to historic lows, the demand for residential real estate is driving prices through the roof. As…

Alberta must get its fiscal house in order without another oil boom

But any plan for fiscal austerity can’t ignore the elephant in the room – extraordinary health-care spending

Alberta must get its fiscal house in order without another oil boomAlberta’s debt has grown exponentially over the last decade, surging from under $10 billion in 2010 to $98 billion in 2020. The COVID-19 pandemic has set off a trap that earlier provincial administrations laid by their excessive reliance on fossil-fuel revenues. On Feb. 25, Finance Minister Travis Toews announced the province would start 2022 with…

Bitcoin’s future looks bright as a reserve currency

A fraction of the global economy moving to a bitcoin standard will create a ripple effect

Bitcoin’s future looks bright as a reserve currencyFormer Canadian prime minister Stephen Harper recently suggested bitcoin could become a reserve currency alongside the U.S. dollar. Now a business adviser with Harper & Associates consulting, he had a caveat: bitcoin still lacks a key money feature, that being a store of value. In contrast to fiat currencies, bitcoin has done little but rise…

Alberta planting the seeds for a tech boom but care required

Alongside investing and funding, the government of Alberta must emphasize entrepreneurship and keep co-operating with the private sector

Alberta planting the seeds for a tech boom but care requiredTechnology companies have emerged as clear winners during the COVID-19 pandemic. Jurisdictions without a traditional tech imprint – like Alberta – have funnelled funds to facilitate startups. That’s a good diversification strategy, but they should be careful not to veer into protectionism and favouritism. It came as no surprise that in 2020 retail sales through…

The best response to more lockdowns? Civil disobedience

Lockdowns can't be the new normal

The best response to more lockdowns? Civil disobedienceIn Ontario, Alberta, B.C. and elsewhere, churches are pushing back against COVID-19 lockdowns, staying open and advising people to practise civil disobedience. Such behaviour must be replicated across Canada. The draconian pandemic response from the provincial and federal governments has paved the way for a permanently expanded state. Imposing strict restrictions on the economy a…

How to put Canada’s post-pandemic recovery on the right track

Four areas of focus – now and in the coming years – are interprovincial trade, streamlined taxation, immigration and innovation

How to put Canada’s post-pandemic recovery on the right trackSocial engineers are eager for Canadians to buy into the same madness touted across the globe for post-pandemic recovery: more government spending. Now is precisely when technocrats must take a back seat and let markets take the wheel. On Nov. 30, Finance Minister Chrystia Freeland presented the 2020 Fall Economic Statement to Parliament. The report…

Central banks should stay clear of cryptocurrencies

Central banks should stay clear of cryptocurrenciesAmong the many races the pandemic has accelerated, none is so pointless as the issuance of central-bank digital currencies. The Canadian government, which should know better, has jumped into the fray despite earlier opposition. Reversing comments made in February 2020, Bank of Canada deputy governor Timothy Lane now believes state involvement in cryptocurrencies is a…

Pandemic exposes flaws in our health-care system

Competition and entrepreneurship allow medicare to budget wisely and patients to get the attention they deserve

Pandemic exposes flaws in our health-care systemOnce again, the U.S. presidential election elevated Canadian health care – colloquially known as medicare – as a role model. However, the COVID-19 pandemic has exposed its many shortfalls and triggered a public debate over allowing private alternatives. A chief concern – though not the only one – among reform advocates is waiting times for…
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