don_drummond   12

Jeffrey Simpson: Slow growth now, no growth later - The Globe and Mail
Slow growth now, no growth later
The Globe and Mail
Published Wednesday, Jan. 13,2016

The population is aging. Commodity prices are low. Oil and natural gas prices are hitting rock-bottom. The Canadian dollar has plummeted. Most governments are in deficit, or heading into deficit (read Ottawa). Innovation and the commercialization of research lag that of other countries. Productivity, the country’s long-term bugbear, remains sluggish....all the green traffic signals have turned to yellow or red. Yet this slow-growth economy, which might persist for a long time, is wrapped in a political culture that seems to favour slow or no growth, or seems to think that government infrastructure programs, useful in themselves, will solve the long-run problems.....Everywhere, projects are blocked or delayed, because environmentalists, aboriginal people, non-governmental organizations or even provincial governments oppose them....Many of these blocked or delayed projects with large-scale economic spinoffs are natural resource projects, which the federal government says might be saved with more “robust” oversight. The government is kidding itself in this belief, since the opponents don’t care what the regulatory process is. They oppose development pure, simple and always.

Far beyond natural resource constipation, the contradiction arises between slow growth and the huge desire of citizens for more government services, without higher taxes. Of special concern is Canada’s persistent low productivity, to which no easy answer exists, except that a slow-growth mentality doesn’t help.

...Don Drummond, working with Evan Capeluck, recently explained the challenge in a paper for the Centre for the Study of Living Standards, which looked at productivity trends in all provinces. Projecting these trends forward, they said most provinces and territories will not be able to balance revenue growth with new spending demands (especially for health care) without higher taxes or spending cuts.

Put another way, unless long-term growth can be improved – a trend that will require productivity improvements – Canada is heading for a poorer future with fewer programs and/or higher taxes.
growth  Jeffrey_Simpson  economic_downturn  anti-development  natural_resources  economic_stagnation  megaprojects  productivity  Don_Drummond  slow_growth  low_growth  weak_dollar  signals 
january 2016 by jerryking
Canada must develop people with the skills the modern job market requires - The Globe and Mail
Contributed to The Globe and Mail
Published Tuesday, Oct. 20, 2015
october 2015 by jerryking
Economic stagnation is here to stay - The Globe and Mail
Special to The Globe and Mail
Published Tuesday, Apr. 14 2015

The bleak economic predicament hasn’t received much attention. Seems we’re living under an illusion that we’re doing reasonably well, the reason being that until the recent oil price plunge the Conservatives pushed out a lot of feel-good messaging about Canada faring better in the wake of the global financial crisis than other major economies. But doing better than some rivals doesn’t necessarily mean you’re doing well yourself.

Over and above the energy price fall, experts cite a range of causes for the inertia. A major one is productivity. “On that, we’re doing terribly relative to our own historic rate,” said economist Don Drummond, “and we’re doing terrible relative to the rate of almost every developed country.”

Our business class, he added, is neither aggressive nor entrepreneurial, consumer demand is inhibited by high household debt and we have an aging labour force that is only going to grow at about 1 per cent a year. The small increase will come from immigrants, who make lower wages.

“I don’t look for growth to be above 2 per cent on an average basis, I’d say, for the next 10 years,” Mr. Drummond said.
economics  Lawrence_Martin  economic_stagnation  slow_growth  Don_Drummond  productivity  economists  Christopher_Ragan  the_Great_Decoupling 
april 2015 by jerryking
Five things all Canadian cities should stop ignoring
Aug. 20 2014 |The Globe and Mail | JEFF LEHMAN.
1. Don’s World
2. Resiliency.
3. Affordable housing.
4. Slaying the infrastructure deficit.
5. A new federalism.

Don's world = that Ontario governments need to adjust to revenues growing more slowly by reforming services and changing the way they do business. Cities must listen to this advice. This goes beyond controlling costs; services must be delivered differently if they are to be sustainable.
affordable_housing  affordability  Canadian  cities  Don_Drummond  federalism  infrastructure  mayoral  municipalities  P3  public_housing  public_sector  resilience  slow_growth  strategic_thinking  urban 
august 2014 by jerryking
Where are the jobs? Without good stats, it’s bad data in, bad policy out - The Globe and Mail
The Globe and Mail
Published Wednesday, Jun. 11 2014

The latest revelations of Ottawa’s cost-cutting on labour market data come as no surprise. This Conservative government has a solid track record of sacrificing information for budget cuts. The long-form census, Statistics Canada and Canada’s environmental libraries have all fallen victim to the government’s red pen. Frustratingly, these funding cuts only seem to come to light after they’ve been carried out.
data  budgets  Conservative_Party  Canada  Don_Drummond  cost-cutting  labour_markets  Statistics_Canada  policymaking  budget_cuts 
june 2014 by jerryking
Forget the budget numbers. Tell a story - The Globe and Mail

The Globe and Mail

Published Wednesday, Mar. 13 2013
Don_Drummond  storytelling  budgets 
march 2013 by jerryking
Drummond report offers a world of possibilities to Ontario’s cash-strapped government - The Globe and Mail
Adam Radwanski | Columnist profile | E-mail
From Thursday's Globe and Mail
Published Wednesday, Feb. 15, 2012
Ontario  debt  Don_Drummond  cash-strapped 
march 2012 by jerryking
Parsimony, with a side of courage

00:00 EST Saturday, February 18, 2012
Ontario  deficits  Don_Drummond  parsimony 
february 2012 by jerryking Taking a load off
April 30, 2010 | Report on Business Magazine | Tara Perkins. Profile of Don Drummond.
profile  economists  TD_Bank  Don_Drummond 
may 2010 by jerryking

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