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A Faster Track to Fiscal Balance: The 2011 Shadow Budget

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Author Info

  • Alexandre Laurin

    (C.D. Howe Institute)

  • William B.P. Robson

    (C.D. Howe Institute)

Abstract

The Commentary released today its 2011 federal Shadow Budget with a five-step plan to end the flow of red ink in Ottawa ahead of the government’s five-year timeline. In this paper, the authors show how Ottawa can return to budget surpluses in four years through more ambitious spending restraint and accelerate growth-friendly fiscal reforms. This faster track to budget surplus, say the authors, will position the federal government to launch new tax and spending initiatives around mid-decade, while protecting Canadians from possible debt-market disruptions arising from sovereign-debt concerns, and putting federal debt back on a downward track before the pressure of population aging on government finances intensifies.

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Bibliographic Info

Article provided by C.D. Howe Institute in its journal C.D. Howe Institute Commentary.

Volume (Year): (2011)
Issue (Month): 320 (February)
Pages:

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Handle: RePEc:cdh:commen:320

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Keywords: Fiscal Policy; Canada; federal budget; shadow budget;

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References

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  1. Jotham Peters & Chris Bataille & Nic Rivers & Mark Jaccard, 2010. "Taxing Emissions, Not Income: How to Moderate the Regional Impact of Federal Environment Policy," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 314, November.
  2. Pierre Siklos & Andrew Spence, 2010. "Faceoff: Should the Bank of Canada Release its Projections of the Interest Rate Path? – The Cases For and Against," C.D. Howe Institute Backgrounder, C.D. Howe Institute, C.D. Howe Institute, issue 134, October.
  3. John Richards, 2011. "School Dropouts: Who Are They and What Can Be Done?," e-briefs, C.D. Howe Institute 109, C.D. Howe Institute.
  4. Philippe Bergevin & David Laidler, 2010. "Putting Money Back into Monetary Policy: A Monetary Anchor for Price and Financial Stability," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 312, October.
  5. Angelo Melino, 2011. "Moving Monetary Policy Forward: Why Small Steps - and a Lower Inflation Target - Make Sense for the Bank of Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 319, January.
  6. David Longworth, 2010. "Warding Off Financial Market Failure: How to Avoid Squeezed Margins and Bad Haircuts," C.D. Howe Institute Backgrounder, C.D. Howe Institute, C.D. Howe Institute, issue 135, December.
  7. Alexandre Laurin & William Robson, 2010. "The Public-Sector Pension Bubble: Time to Confront the Unmeasured Cost of Ottawa's Pensions," e-briefs, C.D. Howe Institute 108, C.D. Howe Institute.
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Citations

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Cited by:
  1. Christopher Ragan, 2011. "Precision Targeting: The Economics – and Politics – of Improving Canada’s Inflation-Targeting Framework," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 321, February.
  2. John Richards, 2011. "Aboriginal Education in Quebec: A Benchmarking Exercise," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 328, April.
  3. Philippe Bergevin & William B.P. Robson, 2011. "The Costs of Inflexible Indexing: Avoiding the Adverse Fiscal Impacts of Lower Inflation," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 322, February.
  4. Bev Dahlby & Ergete Ferede, 2011. "What Does it Cost Society to Raise a Dollar of Tax Revenue? The Marginal Cost of Public Funds," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 324, March.
  5. Colin Busby & William B.P. Robson, 2011. "A Social Insurance Model for Pharmacare: Ontario's Options for a More Sustainable, Cost-Effective Drug Program," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 326, April.
  6. David A. Dodge & Richard Dion, 2011. "Chronic Healthcare Spending Disease: A Macro Diagnosis and Prognosis," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 327, April.
  7. Pierre Fortin, 2011. "Staying the Course: Quebec's Fiscal Balance Challenge," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 325, March.
  8. Steve E. Hrudey, 2011. "Safe Drinking Water Policy for Canada - Turning Hindsight into Foresight," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 323, February.
  9. Alexandre Laurin & Finn Poschmann & William B.P. Robson, 2011. "When Striking an Awkward Balance Means Striking Out: Budget 2011," e-briefs, C.D. Howe Institute 112, C.D. Howe Institute.
  10. James P. Bruce, 2011. "Protecting Groundwater: The Invisible and Vital Resource," C.D. Howe Institute Backgrounder, C.D. Howe Institute, C.D. Howe Institute, issue 136, February.

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