Government spending reductions and balanced budgets will help increase productivity growth, pave way for four-day work week
Ottawa’s huge budget deficit and mounting debt
By Fraser Institute —— Bio and Archives--October 22, 2020
Canadian News, Opinion | Comments | Back To Full Article
TORONTO—In light of Ottawa’s huge budget deficit and mounting debt, the federal government should adopt a rule—legislated by Parliament—to push the government towards budget balance, which will help increase productivity growth and the possibility of a four-day work week, finds a new essay released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“When governments rack up high levels of debt to finance spending, private investment is crowded out, which of course lowers productivity growth,” said Jack Mintz, president’s fellow at the University of Calgary and author of the essay Putting Government on a Financial Diet: The Role of Statutory Fiscal Rules.
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