National
Scrap the green corporate slush fund
From the Canadian Taxpayers Federation
Author: Franco Terrazzano
The Canadian Taxpayers Federation is calling on the federal government to scrap the Sustainable Development Technology Canada slush fund and halt all program funding following today’s scathing Auditor General Report.
“Tens of millions of taxpayers’ money was improperly spent and taxpayers demand accountability, but so far the government has not gone nearly far enough,” said Franco Terrazzano, CTF Federal Director. “This slush fund must go.”
The Auditor General found major failings in the SDTC’s handling of taxpayers’ money, including awarding $76 million to companies where conflict of interest rules weren’t followed.
The SDTC awarded $59 million to companies that did not meet eligibility requirements, according to the report.
“We found that Innovation, Science and Economic Development Canada did not sufficiently assess and monitor Sustainable Development Technology Canada’s processes to award funding,” according to the Auditor General. “We also found that the department did not monitor conflicts of interest at the foundation.”
Following the Auditor General’s report, Innovation Minister François-Philippe Champagne announced that SDTC funding will continue, with the foundation to be transitioned under the control of the National Research Council “over the coming months.”
“Time and time again we see this government blow tens of millions of tax dollars without proper guardrails,” Terrazzano said. “Rolling this program under a different arm of the government is not a solution, because taxpayers can’t trust this government to protect the public purse.
“It’s time to turn off the taps.”
The SDTC approved $856 million in funding between March 2017 through December 2023.
Alberta
Jasper rebuilding delayed as province waits for federal and local government approvals
From Jason Nixon, MLA for Rimbey-Rocky Mountain House-Sundre and Alberta’s Minister of Seniors, Community and Social Services on X
Alberta’s government immediately took action to support those who lost their homes in the Jasper wildfire. We were on track to deliver 250 homes, but Alberta cannot do this without land. It’s been radio silence from Ottawa since Premier Danielle Smith sent a letter to the Prime Minister nearly a month ago. Read my full statement
Business
Trudeau leaves office with worst economic growth record in recent Canadian history
From the Fraser Institute
By Ben Eisen
In the days following Prime Minister Justin Trudeau’s resignation as leader of the Liberal Party, there has been much ink spilt about his legacy. One effusively positive review of Trudeau’s tenure claimed that his successors “will be hard-pressed to improve on his economic track record.”
But this claim is difficult to square with the historical record, which shows the economic story of the Trudeau years has been one of dismal growth. Indeed, when the growth performance of Canada’s economy is properly measured, Trudeau has the worst record of any prime minister in recent history.
There’s no single perfect measure of economic success. However, growth in inflation-adjusted per-person GDP—an indicator of living standards and incomes—remains an important and broad measure. In short, it measures how quickly the economy is growing while adjusting for inflation and population growth.
Back when he was first running for prime minister in 2015, Trudeau recognized the importance of long-term economic growth, often pointing to slow growth under his predecessor Stephen Harper. On the campaign trail, Trudeau blasted Harper for having the “worst record on economic growth since R.B. Bennett in the depths of the Great Depression.”
And growth during the Harper years was indeed slow. The Harper government endured the 2008/09 global financial crisis and subsequent weak recovery, particularly in Ontario. During Harper’s tenure as prime minister, per-person GDP growth was 0.5 per cent annually—which is lower than his predecessors Brian Mulroney (0.8 per cent) and Jean Chrétien (2.4 per cent).
So, growth was weak under Harper, but Trudeau misdiagnosed the causes. Shortly after taking office, Trudeau said looser fiscal policy—with more spending, borrowing and bigger deficits—would help spur growth in Canada (and indeed around the world).
Trudeau’s government acted on this premise, boosting spending and running deficits—but Trudeau’s approach did not move the needle on growth. In fact, things went from bad to worse. Annual per-person GDP growth under Trudeau (0.3 per cent) was even worse than under Harper.
The reasons for weak economic growth (under Harper and Trudeau) are complicated. But when it comes to performance, there’s no disputing that Trudeau’s record is worse than any long-serving prime minister in recent history. According to our recent study published by the Fraser Institute, which compared the growth performance of the five most recent long-serving prime ministers, annual per-person GDP growth was highest under Chrétien followed by Martin, Mulroney, Harper and Justin Trudeau.
Of course, some defenders will blame COVID for Trudeau’s poor economic growth record, but you can’t reasonably blame the steep but relatively short pandemic-related recession for nearly a decade of stagnation.
There’s no single perfect measure of economic performance, but per-person inflation-adjusted economic growth is an important and widely-used measure of economic success and prosperity. Despite any claims to the contrary, Justin Trudeau’s legacy on economic growth is—in historical terms—dismal. All Canadians should hope that his successor has more success and oversees faster growth in the years ahead.
-
National2 days ago
BC Conservative leader calls for independent review after election ‘irregularities’
-
Brownstone Institute12 hours ago
It’s Time to Retire ‘Misinformation’
-
Addictions1 day ago
Annual cannabis survey reveals many positive trends — and some concerning ones
-
Artificial Intelligence3 hours ago
Death of an Open A.I. Whistleblower
-
Alberta2 days ago
Why U.S. tariffs on Canadian energy would cause damage on both sides of the border
-
Brownstone Institute1 day ago
The Cure for Vaccine Skepticism
-
Business2 days ago
Trump’s oil tariffs could spell deficits for Alberta government
-
Business2 days ago
Google Rejects Eurocrats’ Push For More Censorship