OTTAWA—Despite doomsday predictions that the pandemic would hit Canada’s already financially strapped provinces with an even greater blow, the Canadian Centre for Policy Alternatives (CCPA) is showing that most provinces today have enough funds to pay for the programs Canadians rely on to survive and thrive.
Government finance
Click here to read the report online.
In Flush With Cash: The provinces are richer than they think, CCPA Senior Economist David Macdonald reveals that 10 out of 10 provinces have already experienced surpluses or will soon. Nine out of 10 of them are projecting that they will have better finances than before the pandemic started.
Previously published in the Winnipeg Free Press May 4, 2002
Previously published in the Winnipeg Free Press, March 25, 2022
Recent projections of Manitoba’s finances find the province could be in a budgetary surplus by 2022 - 2023, despite the public health pressures COVID-19. This is due to Manitoba’s economy roaring back but also under-spending in public programs and generous federal fiscal transfers, finds a report released by the Canadian Centre for Policy Alternatives (CCPA) National office.
For decades, education in Manitoba has been funded by a mix of general provincial revenues and property taxes set by local school boards. In April 2020, Manitoba’s government introduced Bill 71, which was intended to initiate the elimination of education property taxes as had been promised during the 2019 election. However, this Bill is regressive in nature and fails to achieve its intended purpose of lowering taxes to Manitobans in need.
Ce rapport examine l’état des finances des provinces canadiennes et constate que, malgré les effets dévastateurs de l’épidémie de COVID-19 sur le Canada, les déficits des provinces sont en passe de disparaître beaucoup plus rapidement que prévu initialement.
En fait, la majorité des provinces sont déjà en excédent budgétaire ou le deviendront au cours du prochain exercice, à mesure que l’économie se redressera.
In April 2021, Scott Fielding, Minister of Finance for the Manitoba government, introduced Bill 71. This bill was entitled The Education Property Tax Reduction Act (Property Tax and Insulation Assistance Act and Income Tax Act Amended) and was intended to initiate the elimination of the education portion of property taxes, which had been a campaign promise from fall 2019. Most of the government’s legislative agenda for the third session of the forty-second legislature was introduced in the fall of 2020, but the government did not introduce Bill 71 until April 19, 2021.
As Canada reaches two years of the COVID-19 pandemic, provincial deficits are on track to disappear much faster than initially predicted.
Disappearing Act: The state of provincial deficits in Canada, examines the state of provincial finances and finds that major positive revisions of revenue projections mean fiscal surpluses have either already arrived or will soon.
OTTAWA—Provincial deficits are on track to disappear much faster than initially predicted despite unprecedented spending to fight COVID-19, according to a new report from the Canadian Centre for Policy Alternatives (CCPA).
Two years of the pandemic have disrupted the learning and development of Ontario's elementary and secondary school students. In particular, households with lower incomes and fewer resources have been hit hard.
Bouncing back will require strong government resolve, new policies and the funding to back it up.