Les Québécois ont raison d’être fiers de leur Caisse de dépôt et placement, qui gère avec efficience les avoirs de leur Régime de rentes et ceux des fonds de pension de presque tous les employés du secteur public. Malheureusement, les employés des municipalités et des universités n’ont pas cette chance. Je connais un grand nombre de gestionnaires de régimes de retraite des villes et des universités et je sais que ce sont des gens dévoués et compétents. Toutefois, leurs caisses étant plus petites, ils n’ont pas accès aux mêmes ressources, aux mêmes occasions de placement et doivent assumer des coûts plus élevés, qui pénalisent tant leurs participants que leurs employeurs et, en fin de compte, les contribuables. La Caisse de dépôt...
The $343-billion deficit for this fiscal year, announced in July by former finance minister Bill Morneau in his fiscal snapshot, was shocking at the time. Partly it was the number itself, which implied that debt would top $1-trillion before year-end. And because, with no budget or even a fiscal plan out of Ottawa this year, the tally was incomplete. Now Mr. Morneau is gone, and his replacement, Chrystia Freeland, has signalled at least another $40-billion in new spending – which will push the borrowing higher yet. The 2015 election commitment to run “modest deficits” was a politically clever wedge issue – a pledge the Conservatives did not want to make, and the NDP dared not make. And borrowing in the depths of the COVID-19 crisis is...
Against the stark backdrop of intensifying climate change, the Supreme Court will begin hearing arguments on Tuesday concerning the constitutionality of the Greenhouse Gas Pollution Pricing Act – what is known as the federal carbon-pricing backstop. The hearing comes after a long saga of proceedings through provincial courts of appeal, and the decision will invariably be historic in how it shapes the way our country regulates carbon emissions in the decades to come. In Ontario and Saskatchewan, majority decisions upheld the backstop, finding that Ottawa had jurisdiction for the legislation under the “national concern” branch of the federal peace, order and good government power; in Alberta, the court found that it would...