Connect with us

Business

Canadians should expect even more spending in federal fall economic statement

Published

3 minute read

From the Fraser Institute

By Jake Fuss and Grady Munro

The Trudeau government will soon release its fall economic statement. Though technically intended to be an update on the fiscal plan in this year’s budget, in recent years the fall economic statement has more closely resembled a “mini-budget” that unveils new (and often significant) spending commitments and initiatives.

Let’s look at the data.

The chart below includes projections of annual federal program spending from a series of federal budgets and updates, beginning with the 2022 budget and ending with the latest 2024 budget. Program spending equals total spending minus debt interest costs, and represents discretionary spending by the federal government.

Clearly, there’s a trend that with every consecutive budget and fiscal update the Trudeau government revises spending estimates upwards. Take the last two fiscal years, 2023/24 and 2024/25, for example. Budget 2022 projected annual program spending of $436.5 billion for the 2023/24 fiscal year. Yet the fall economic statement released just months later revised that spending estimate up to $449.8 billion, and later releases showed even higher spending.

The issue is even more stark when examining spending projections for the current fiscal year. Budget 2022 projected annual spending of $441.6 billion in 2024/25. Since then, every subsequent fiscal release has revised that estimate higher and higher, to the point that Budget 2024 estimates program spending of $483.6 billion for this year—representing a $42.0 billion increase from the projections only two years ago.

Meanwhile, as spending estimates are revised upwards, plans to reduce the federal deficit are consistently pushed off into later years.

For example, the 2022 fall economic statement projected a deficit of $25.4 billion for the 2024/25 fiscal year, and declining deficits in the years to come, before reaching an eventual surplus of $4.5 billion in 2027/28. However, subsequent budgets and fiscal updates again revised those estimates. The latest budget projects a deficit of $39.8 billion in 2024/25 that will decline to a $26.8 billion deficit by 2027/28. In other words, though budgets and fiscal updates have consistently projected declining deficits between 2024/25 and 2027/28, each subsequent document has produced larger deficits throughout the fiscal outlook and pushed the timeline for balanced budgets further into the future.

These data illustrate the Trudeau government’s lack of accountability to its own fiscal plans. Though the unpredictable nature of forecasting means the government is unlikely to exactly meet future projections, it’s still reasonable to expect it will roughly follow its own fiscal plans. However, time and time again Canadians have been sold a certain plan, only to have it change dramatically mere months later due to the government’s unwillingness to restrain spending. We shouldn’t expect the upcoming fall economic statement to be any different.

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Business

Digital ID in sports: Detroit Pistons Partner with Digital ID Company to Implement Biometric Verification

Published on

logo

By

Digital ID is entering more aspects of everyday life.

The Detroit Pistons, enjoying one of their most competitive seasons in years, are embracing a digital transformation with a partnership with ID.me, a company specializing in biometric ID verification and digital identity wallets. This move reflects a growing trend in professional sports, where teams are adopting digital identity tools under the guise of enhancing fan experience but also expanding the use of biometric systems in everyday activities.

More: Biometric Entry For Major League Baseball Games is Becoming More Prevalent

Through this collaboration, the Pistons will deploy ID.me’s technology to streamline services for their community, including season ticket holders, loyalty program members, and groups like teachers, nurses, and military personnel. According to the Pistons, biometric verification will ensure that benefits, tickets, and exclusive offers reach actual fans rather than being snatched up by bots and scalpers.

“ID.me is thrilled to help Detroit Pistons fans access tickets and special offers in a more secure, frictionless way,” said Taylor Liggett, chief growth officer at ID.me. He emphasized how digital identity wallets combat increasingly sophisticated fraud attempts by bad actors in the ticketing market.

Adam Falkson, Vice President of Business Intelligence for the Pistons, framed the partnership as a response to evolving threats. “Like most industries, the risk and sophistication around fraud continues to be a threat and a challenge,” he said. Falkson added that the shared vision with ID.me is to protect customers while enhancing services in a secure and gated manner.

However, critics have noted that the growing adoption of digital ID systems in sports goes beyond ticket security, potentially normalizing the use of biometrics in everyday transactions. Sports franchises are increasingly positioning biometric verification as essential for modern fan experiences, extending its use to concessions, merchandise, alcohol purchases, and VIP access.

ID.me, which has recently seen a surge in partnerships, views sports as a fertile ground for advancing its technology. The adoption of these systems aligns with the industry’s broader trend of integrating biometrics into live events, framing it as a way to “strengthen fan relationships” and streamline services. While the Detroit Pistons and ID.me tout the convenience and security of such systems, the broader implications of tying everyday activities to biometric verification risks the growth of a checkpoint society.

 

 

Continue Reading

Alberta

Alberta’s Danielle Smith meets with Trump at Mar-a-Lago for ‘friendly and constructive’ meeting

Published on

From LifeSiteNews

By Anthony Murdoch

Meetings of these kinds in the past would normally have included Canada’s official ambassador, however, Smith has not waited for the Trudeau government to advocate for Canadian energy and instead has gone at it alone. 

Premier of Alberta Danielle Smith met with incoming U.S. President Donald Trump at his Mar-a-Lago home to champion “ethically” sourced Albertan oil and gas only days before the president-elect is set to be inaugurated, in what she said was a “friendly and constructive” meeting.  

“Over the last 24 hours I had the opportunity to meet President @realdonaldtrump at Mar-a-Lago last night and at his golf club this morning. We had a friendly and constructive conversation during which I emphasized the mutual importance of the U.S. – Canadian energy relationship, and specifically, how hundreds of thousands of American jobs are supported by energy exports from Alberta,” wrote Smith on X about her weekend meeting with Trump. 

 

The unprecedented meeting came at the same time Trump appears to have soured relations with Canadian Liberal elites over his annexation talk.  

It also comes after soon-to-be-gone Prime Minister Justin Trudeau met with Trump at Mar-a-lago last month and appeared to refuse to step up and defend the interests of Canadian energy over Trump’s threats to slap high tariffs on Canadian goods once he takes office.

Smith noted about her meeting with Trump that she was able to have “similar discussions” about championing Albertan energy “with several key allies of the incoming administration and was encouraged to hear their support for a strong energy and security relationship with Canada.” 

“On behalf of Albertans, I will continue to engage in constructive dialogue and diplomacy with the incoming administration and elected federal and state officials from both parties and will do all I can to further Alberta’s and Canada’s interests,” she wrote. 

Since taking office in 2015, the Trudeau government has continued to push a radical environmental agenda like the agendas being pushed by the World Economic Forum’s “Great Reset” and the United Nations’ “Sustainable Development Goals.” 

Smit, on the other hand, has been a fierce opponent of Trudeau’s green energy agenda and an advocate for the oil and gas industry.  

She will be attending Trump’s inauguration later next week.  

Observer notes Trump made ‘beeline’ for Smith to meet her at Mar-a-Lago event 

Political analyst for the Calgary Sun Rick Bell, who knows Smith and speaks with her regularly, noted about her meeting with Trump that when “Trump and his family and entourage” arrived he made “a beeline for Smith. He has obviously been told she is the premier of Alberta.” 

“Smith, as you know, has recently been speaking non-stop about oil and gas and is no fan of tariffs,” Bell wrote. 

Bell noted how Smith and Trump spoke about “energy, about oil and gas, about Alberta and Canada,” adding that she told him that production of Alberta oil is “ramping up in a big way and the U.S. buys a lot of Alberta oil.” 

“Smith asks if Trump wants more of our oil. Trump does. It is by far Canada’s biggest export to the Americans,” wrote Bell.  

Smith, in her message about her meeting with Trump, noted that Canada and the United States are both “proud and independent nations with one of the most important security alliances on earth and the largest economic partnership in history.” 

She emphasized how Alberta needs to preserve its “independence while we grow this critical partnership for the benefit of Canadians and Americans for generations to come.” 

Canada has the third largest oil reserves in the world, with most of it being in Alberta, which is produced ethically, unlike in other nations. 

Smith’s meeting with Trump is unusual in that it has happened right before he will become president. Meetings of these kinds in the past would normally have included Canada’s official ambassador, however, Smith has not waited for the Trudeau government to advocate for Canadian energy and instead has gone at it alone. 

Recently, Trump has drawn the ire of many Canadian politicians, including Conservatives, after he said rather brazenly last week that he was considering using “economic force” to make Canada the 51st U.S. state.  

He claimed that there is a $200 billion trade deficit between Canada and the U.S. regarding spending on “subsidies” and the fact the U.S. military is there to also “protect Canada.” 

Smith and others did not seem too offended by Trump’s remarks, most likely realizing they may be part of his negotiating strategy.  

Conservative Party of Canada leader Pierre Poilievre, who likely will soon be the nation’s next prime minister, however, had choice words for Trump.

Trump’s comments came only a day after Trudeau announced he plans to step down as Liberal Party leader once a new leader has been chosen. He was approved by Governor General Mary Simon to prorogue parliament until March 24. This means he is still serving as prime minister, but all parliamentary business has been stopped. 

Smith was against forced COVID jabs, her United Conservative government has in recent months banned men from competing in women’s sports came and passed a bill banning so-called “top and bottom” surgeries for minors as well as other extreme forms of transgender ideology.  

Continue Reading

Trending

X