This report finds that for the first time ever, Canada’s private sector is racking up debt faster than any other of the world’s 22 advanced economies, putting the country at risk of serious economic consequences. The report reveals that Canada added $1 trillion in private sector debt over the past five years (in 2016 dollars), with the corporate sector responsible for the majority of it.
The role of government in Alberta, both involvement and funding, has been critical in ensuring that more than narrow corporate interests were served in the development of the province’s bitumen resources.
A new report contrasts the approaches taken by two former premiers during the industry’s early development and rapid expansion periods.
When Alberta’s first New Democratic Party (NDP) government swept to power in 2015, it inherited over four decades of Progressive Conservative (PC) energy policies, including development of the Alberta oil sands that by 2015 had become the key driver of the province’s economy.
One of the primary rationales for Kinder Morgan’s Trans Mountain pipeline expansion project (TMEP) is to maximize the price for Alberta bitumen by getting oil from Alberta to “tidewater”. Tidewater refers to ocean access in order to ship oil to overseas markets via tankers. Industry and the federal and Alberta governments argue that a pipeline to tidewater will unlock new markets (Asia in the case of the TMEP) where Canadian oil can command a better price than in the US, where the majority of Canadian oil is currently exported.
The federal and Alberta governments and the oil industry argue that pipelines to tidewater will unlock new markets where Canadian oil can command a better price than in the US, where the majority of Canadian oil is currently exported.
Both governments have approved Kinder Morgan's Trans Mountain Expansion Project, but a new report finds that several assumptions that led to the pipeline’s approval are questionable and that a ‘tidewater premium’ does not exist.
Preferential tax treatments such as tax exemptions, credits, and loopholes have become a cash cow for Canada’s rich. This report analyzes the country’s 10 costliest preferential tax treatments, starting with the richest 10% of Canadians, which is responsible for 42 per cent of the federal money spent on these types of tax expenditures (up from 36% in 1992).
This report finds that Canadian climate change policy remains underdeveloped and plagued by a wide “ambition gap” between government promises and policy action. The report breaks down the success and shortcomings of current Canadian climate policy at the federal and provincial levels, and makes recommendations that would set the country on a path toward an inclusive and productive low-carbon economy.