A GOVERNMENT WITHOUT A JOBS STRATEGY

What a difference a summer “does not make”.

 

On Friday last week, Statistics Canada released its Labor Force Survey for the month of August. The Survey showed that the economy lost 11,000 jobs in August, following an unprecedented decline of 112,000 private sector jobs, only partially offset by an equally unprecedented increase in self-employment.

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THE START OF THE 2015 ELECTION

For the first three months of fiscal year 2014-15, which ended March 31, the federal government posted a surplus of $400 million, an improvement of $3 billion from the deficit of $2.6 billion recorded in the same period in 2013-14. 

 

In the February 2014 Budget, a deficit of $2.9 billion was forecast for 2014-15. This forecast included a “risk adjustment factor” of $3 billion, which if not needed would imply a balanced budget, if not a surplus for 2014-15. 

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MEMO TO PREMIER WYNE ; THINK CREDIBILITY

No doubt you will be getting a lot of advice, especially from depressed Conservatives, recommending that you take the kind of tough fiscal action Mr. Hudak was proposing, in order to eliminate the deficit and halt the growth in Ontario’s public debt. Ontario, according to them, is in a fiscal crisis: the rating agencies are knocking at your door; and you must act immediately. Our first recommendation is that you ignore this advice. It was non-credible before the election and it still is.
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IT'S ALL ABOUT JOBS STUPID

 

In a previous article, we applauded Tim Hudak for giving Ontario voters a clear choice about the future of the Ontario economy and indeed the Canadian economy. Ontario, after all, makes up 40 percent of the Canadian economy. If the Ontario economy is not doing well, then the Canadian economy will not being doing well.

On Thursday, Ontario voters will make a choice about the future of Ontario.

 

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BALANCED BUDGET FOR 2014 CLEARLY WITHIN REACH

The federal deficit for the period 2013-14 was estimated at $12.1 billion, an improvement of $6.6 billion from the same period last year.  Although these are not the final results for fiscal year 2013-14, they clearly indicate that the deficit for the year as a whole will be much lower than the Budget 2014 estimate of $16.6 billion and significantly raising the possibility of a balanced budget/surplus in 2014-15, one year ahead of the Government’s commitment.  Final audited results for 2013-14, however, will not be released until the fall of 2014.

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MAKING SENSE OF THE JOB NUMBERS

 

During elections, all political parties try to “produce” numbers that show their proposed policies are better than the proposed policies of their opponents.

So far there are four numbers for the Progressive Conservative Party (PC) that have attracted a lot of media attention: the number “1,000,000”; the number “100,000”; the number “3”; and the number “$7.4” billion.

Putting out too many numbers runs the risk of attracting a lot of criticism.

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