Fiscal-Consolidation Strategies for Canadian Governments:
Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country's public finances has been substantial. Years of spending increases above trend economic growth have led t...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2010
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country's public finances has been substantial. Years of spending increases above trend economic growth have led to high structural levels of expenditure, and some Canadian governments are now on unsustainable fiscal paths, a diagnosis made starker when taking an even longer-term view that considers the fiscal implications of demographic change. Evidence shows that successful fiscal consolidations tend to rely on spending restraint rather than tax increases. When focused on restraining less productive expenditure, they can also boost economic growth. Fiscal rules can be useful tools in achieving budgetary consolidation, but also as part of the general fiscal framework to limit deficit bias and counteract the tendency shown by some Canadian governments over the past two decades to run pro-cyclical fiscal policies. Canadian governments with large deficits should announce deficit targets on the way to fiscal balance and should consider supporting these targets with spending growth limits. Other governments should also limit spending growth and target reductions in debt-to-GDP ratios, perhaps supported by budget surplus targets. Temporary fiscal stimulus measures should be allowed to expire as planned. To date, the federal and almost all provincial/territorial governments have committed to return to budget balance over the medium term and outlined plans to do so that focus primarily on expenditure restraint. These plans are broadly in line with the recommendations set forth in this paper and should allow Canada to return to budget balance over the medium term. Of crucial importance for the long-term success of fiscal-consolidation and debt-reduction strategies are public backing and transparency. The federal government should continue to support the Parliamentary Budget Office, and provinces should consider establishing similar independent fiscal agencies that can assess compliance relative to objectives and reinforce accountability. This Working Paper relates to the 2010 OECD Economic Review of Canada (www.oecd.org/eco/surveys/Canada) |
| Beschreibung: | 1 Online-Ressource (49 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5km36j7nc2g4-en |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047933630 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2010 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/5km36j7nc2g4-en |2 doi | |
| 035 | |a (ZDB-13-SOC)061291110 | ||
| 035 | |a (OCoLC)1312696989 | ||
| 035 | |a (DE-599)BVBBV047933630 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Guillemette, Yvan |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Fiscal-Consolidation Strategies for Canadian Governments |c Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette |
| 246 | 1 | 3 | |a Stratégies d'assainissement budgétaire pour les administrations canadiennes |
| 264 | 1 | |a Paris |b OECD Publishing |c 2010 | |
| 300 | |a 1 Online-Ressource (49 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country's public finances has been substantial. Years of spending increases above trend economic growth have led to high structural levels of expenditure, and some Canadian governments are now on unsustainable fiscal paths, a diagnosis made starker when taking an even longer-term view that considers the fiscal implications of demographic change. Evidence shows that successful fiscal consolidations tend to rely on spending restraint rather than tax increases. When focused on restraining less productive expenditure, they can also boost economic growth. | ||
| 520 | |a Fiscal rules can be useful tools in achieving budgetary consolidation, but also as part of the general fiscal framework to limit deficit bias and counteract the tendency shown by some Canadian governments over the past two decades to run pro-cyclical fiscal policies. Canadian governments with large deficits should announce deficit targets on the way to fiscal balance and should consider supporting these targets with spending growth limits. Other governments should also limit spending growth and target reductions in debt-to-GDP ratios, perhaps supported by budget surplus targets. Temporary fiscal stimulus measures should be allowed to expire as planned. To date, the federal and almost all provincial/territorial governments have committed to return to budget balance over the medium term and outlined plans to do so that focus primarily on expenditure restraint. | ||
| 520 | |a These plans are broadly in line with the recommendations set forth in this paper and should allow Canada to return to budget balance over the medium term. Of crucial importance for the long-term success of fiscal-consolidation and debt-reduction strategies are public backing and transparency. The federal government should continue to support the Parliamentary Budget Office, and provinces should consider establishing similar independent fiscal agencies that can assess compliance relative to objectives and reinforce accountability. This Working Paper relates to the 2010 OECD Economic Review of Canada (www.oecd.org/eco/surveys/Canada) | ||
| 650 | 4 | |a Economics | |
| 650 | 4 | |a Canada | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/5km36j7nc2g4-en |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033315124 | |
Datensatz im Suchindex
| _version_ | 1818806050505097216 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Guillemette, Yvan |
| author_facet | Guillemette, Yvan |
| author_role | aut |
| author_sort | Guillemette, Yvan |
| author_variant | y g yg |
| building | Verbundindex |
| bvnumber | BV047933630 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061291110 (OCoLC)1312696989 (DE-599)BVBBV047933630 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5km36j7nc2g4-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047933630</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2010 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5km36j7nc2g4-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061291110</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312696989</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047933630</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Guillemette, Yvan</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Fiscal-Consolidation Strategies for Canadian Governments</subfield><subfield code="c">Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette</subfield></datafield><datafield tag="246" ind1="1" ind2="3"><subfield code="a">Stratégies d'assainissement budgétaire pour les administrations canadiennes</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2010</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (49 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country's public finances has been substantial. Years of spending increases above trend economic growth have led to high structural levels of expenditure, and some Canadian governments are now on unsustainable fiscal paths, a diagnosis made starker when taking an even longer-term view that considers the fiscal implications of demographic change. Evidence shows that successful fiscal consolidations tend to rely on spending restraint rather than tax increases. When focused on restraining less productive expenditure, they can also boost economic growth.</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Fiscal rules can be useful tools in achieving budgetary consolidation, but also as part of the general fiscal framework to limit deficit bias and counteract the tendency shown by some Canadian governments over the past two decades to run pro-cyclical fiscal policies. Canadian governments with large deficits should announce deficit targets on the way to fiscal balance and should consider supporting these targets with spending growth limits. Other governments should also limit spending growth and target reductions in debt-to-GDP ratios, perhaps supported by budget surplus targets. Temporary fiscal stimulus measures should be allowed to expire as planned. To date, the federal and almost all provincial/territorial governments have committed to return to budget balance over the medium term and outlined plans to do so that focus primarily on expenditure restraint.</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">These plans are broadly in line with the recommendations set forth in this paper and should allow Canada to return to budget balance over the medium term. Of crucial importance for the long-term success of fiscal-consolidation and debt-reduction strategies are public backing and transparency. The federal government should continue to support the Parliamentary Budget Office, and provinces should consider establishing similar independent fiscal agencies that can assess compliance relative to objectives and reinforce accountability. This Working Paper relates to the 2010 OECD Economic Review of Canada (www.oecd.org/eco/surveys/Canada)</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Canada</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/5km36j7nc2g4-en</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033315124</subfield></datafield></record></collection> |
| id | DE-604.BV047933630 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:00Z |
| indexdate | 2024-12-18T19:03:36Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033315124 |
| oclc_num | 1312696989 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (49 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2010 |
| publishDateSearch | 2010 |
| publishDateSort | 2010 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Guillemette, Yvan Verfasser aut Fiscal-Consolidation Strategies for Canadian Governments Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette Stratégies d'assainissement budgétaire pour les administrations canadiennes Paris OECD Publishing 2010 1 Online-Ressource (49 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Although Canada remains in an advantageous fiscal position relative to many other OECD countries as the global economy recovers from the 2008/09 recession, the deterioration in the country's public finances has been substantial. Years of spending increases above trend economic growth have led to high structural levels of expenditure, and some Canadian governments are now on unsustainable fiscal paths, a diagnosis made starker when taking an even longer-term view that considers the fiscal implications of demographic change. Evidence shows that successful fiscal consolidations tend to rely on spending restraint rather than tax increases. When focused on restraining less productive expenditure, they can also boost economic growth. Fiscal rules can be useful tools in achieving budgetary consolidation, but also as part of the general fiscal framework to limit deficit bias and counteract the tendency shown by some Canadian governments over the past two decades to run pro-cyclical fiscal policies. Canadian governments with large deficits should announce deficit targets on the way to fiscal balance and should consider supporting these targets with spending growth limits. Other governments should also limit spending growth and target reductions in debt-to-GDP ratios, perhaps supported by budget surplus targets. Temporary fiscal stimulus measures should be allowed to expire as planned. To date, the federal and almost all provincial/territorial governments have committed to return to budget balance over the medium term and outlined plans to do so that focus primarily on expenditure restraint. These plans are broadly in line with the recommendations set forth in this paper and should allow Canada to return to budget balance over the medium term. Of crucial importance for the long-term success of fiscal-consolidation and debt-reduction strategies are public backing and transparency. The federal government should continue to support the Parliamentary Budget Office, and provinces should consider establishing similar independent fiscal agencies that can assess compliance relative to objectives and reinforce accountability. This Working Paper relates to the 2010 OECD Economic Review of Canada (www.oecd.org/eco/surveys/Canada) Economics Canada https://doi.org/10.1787/5km36j7nc2g4-en Verlag kostenfrei Volltext |
| spellingShingle | Guillemette, Yvan Fiscal-Consolidation Strategies for Canadian Governments Economics Canada |
| title | Fiscal-Consolidation Strategies for Canadian Governments |
| title_alt | Stratégies d'assainissement budgétaire pour les administrations canadiennes |
| title_auth | Fiscal-Consolidation Strategies for Canadian Governments |
| title_exact_search | Fiscal-Consolidation Strategies for Canadian Governments |
| title_exact_search_txtP | Fiscal-Consolidation Strategies for Canadian Governments |
| title_full | Fiscal-Consolidation Strategies for Canadian Governments Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette |
| title_fullStr | Fiscal-Consolidation Strategies for Canadian Governments Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette |
| title_full_unstemmed | Fiscal-Consolidation Strategies for Canadian Governments Yvan Guillemette = Stratégies d'assainissement budgétaire pour les administrations canadiennes / Yvan Guillemette |
| title_short | Fiscal-Consolidation Strategies for Canadian Governments |
| title_sort | fiscal consolidation strategies for canadian governments |
| topic | Economics Canada |
| topic_facet | Economics Canada |
| url | https://doi.org/10.1787/5km36j7nc2g4-en |
| work_keys_str_mv | AT guillemetteyvan fiscalconsolidationstrategiesforcanadiangovernments AT guillemetteyvan strategiesdassainissementbudgetairepourlesadministrationscanadiennes |