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Tuesday, March 30, 2021
Thursday, March 25, 2021
Ballooning sunshine list a slap in the face to taxpayers
A
10 per cent across-the-board pay cut for all government employees
receiving over $100,000, would save taxpayers more than $2.5 billion
|
By Jay Goldberg
Interim Ontario Director
Canadian Taxpayers Federation
While most Ontarians were barely getting by during lockdowns, the bill for Ontario top bureaucrats ballooned in 2020.
There’s
still 800,000 Ontarians looking for a job. So, it must be jarring for
them to see Ontario’s sunshine list, which discloses the municipal and
provincial government employees making more than $100,000 per year,
increased by 23 per cent in 2020. Among those high government rollers, 74 made more than $500,000 last year.
So much for being all in this together.
As
Ontarians struggled to pay their Hydro bills, six top bureaucrats at
Ontario Power Generation raked in more than $800,000. The highest earner
was the President and CEO who brought in $1.2 million. The total bill
for these six bureaucrats was nearly $6 million.
And that’s just the tip of the iceberg.
While
tens of thousands of Ontario’s children were kept home from school for
months on end, the number of teachers making more than $100,000 still
doubled to over 29,000.
More than a dozen hospital presidents and CEOs received half a million dollars or more.
Surely some of that money could have been used for tax relief or could have been sent to the front lines of the pandemic.
While
Ontario’s government sunshine list grew, many workers outside of
government lost their jobs, took pay cuts or saw their hours reduced
substantially. There’s still nearly 75,000 Ontario businesses at risk of closing their doors for good, according to research from the Canadian Federation of Independent Business.
For
those that suggest that these exorbitant government salaries may be
warranted, government employees make more than 10 per cent more than
their equivalent private-sector counterparts, according to the Fraser Institute.
Struggling
families and businesses need relief and we can’t afford to pay more
bureaucrats six-figure salaries while the province is locked down. If
Ontario’s municipal and provincial governments implemented a 10 per cent
across-the-board pay cut for all government employees receiving over
$100,000, taxpayers would save more than $2.5 billion. Not only should
Premier Doug Ford reduce government labour costs to relieve some of the
burdens facing struggling taxpayers, but he’ll need to tackle this
expense to pull the province out of its sea of red ink.
The
provincial deficit is about $40 billion, and its debt is fast
approaching the $400-billion mark. With labour costs making up half
of the government’s pre-COVID-19 budget, Ford has little hope in
balancing the books and paying down the debt unless he’s willing to take
some air out of his government’s ballooning labour costs.
For
unemployed Ontarians who saw the government sunshine list expand in
2020, the news must have felt like a harsh slap in the face.
Even
if the government’s finances were in good shape, giving salary
increases to government employees in the midst of an economic crisis is
tone deaf. And Ontario’s finances are a mess.
It’s
not fair to ask the tens of thousands of Ontarians who just lost their
job or took a pay cut to pay higher taxes because government employees
haven’t shared in the downturn. Governments need to address their labour
costs and the first place they should start is at the top of the
bureaucrat pyramid.
Jay Goldberg is the Interim Ontario Director for the Canadian Taxpayers Federation.
|
Monday, March 22, 2021
Thursday, March 18, 2021
Jubilant HollisterStier, Eli Lilly Enter COVID-19 Treatment Collaboration - Contract Pharma
Jubilant HollisterStier, Eli Lilly Enter COVID-19 Treatment Collaboration - Contract Pharma
Jubilant Life Sciences Ltd., an integrated global pharmaceuticals and life sciences company, recently announced that its wholly-owned subsidiary, Jubilant Pharma Limited, through its contract manufacturing organization (CMO) subsidiary, Jubilant HollisterStier LLC, has signed a new contract with Eli Lilly for manufacturing of a treatment for COVID-19.
Lilly’s drug, Bamlanivimab, has been granted Emergency Use Authorization (EUA) by the FDA for emergency use as a treatment of COVID-19 and will be manufactured at Jubilant HollisterStier’s Spokane, WA facility.
“We are delighted to partner with our customers and contribute towards the fight against the COVID-19 pandemic,” said Pramod Yadav, chief executive officer, Jubilant Pharma Limited. “Our CMO business, an established player in the North American market, has strong capabilities in the manufacturing of sterile injectables—both liquid and lyophilization—and we are committed to continue exceeding expectations of our customers in this business.”
Lilly’s drug, Bamlanivimab, has been granted Emergency Use Authorization (EUA) by the FDA for emergency use as a treatment of COVID-19 and will be manufactured at Jubilant HollisterStier’s Spokane, WA facility.
“We are delighted to partner with our customers and contribute towards the fight against the COVID-19 pandemic,” said Pramod Yadav, chief executive officer, Jubilant Pharma Limited. “Our CMO business, an established player in the North American market, has strong capabilities in the manufacturing of sterile injectables—both liquid and lyophilization—and we are committed to continue exceeding expectations of our customers in this business.”
Wednesday, March 17, 2021
Eli Lilly's COVID-19 antibody shows it can prevent the disease. But will doctors use it?
Eli Lilly's COVID-19 antibody shows it can prevent the disease. But will doctors use it?:
Eli Lilly’s bamlanivimab was the first antibody drug the FDA authorized to treat COVID-19. Now, the Indianapolis pharma has data showing the therapy prevents symptomatic infections. The catch? The data are limited to long-term care facilities, where vaccination is now underway—and despite their utility, antibodies are having a tough time catching on.
Tuesday, March 16, 2021
Policy uncertainty continues to hurt Canada’s mining industry
To attract the investment required to develop resources, mitigating the risks of policy uncertainly needs to be a top priority
|
By Jairo Yunis
and Elmira Aliakbari
The Fraser Institute
The
COVID recession has hurt Canada’s natural resources sector, with supply
disruptions, commodity price declines and greater uncertainty regarding
future demand. Not surprisingly, capital investment in the Canadian
mining industry has dropped to its lowest level since 2009.
Of
course, business investment should be a key pillar of Canada’s economic
recovery, as the governor of the Bank of Canada recently stated in a speech delivered to the Vancouver Board of Trade. Amid these conditions, government policies are critically important in attracting much-needed investment. And according to our recent survey, policy uncertainty continues to hurt several Canadian provinces in the eyes of mining investors.
Every
year mining investors are surveyed around the world to determine which
jurisdictions are attractive—or unattractive—for investment based on
government policies and geological potential. The survey spotlights
policies (taxes, duplicative regulations, availability of labour and
skills, etc.) that impact investment decisions. The most attractive
jurisdictions in the world match their mineral potential with a
competitive policy environment and/or overcome a lack of mineral
potential with solid policies.
This year, three Canadian provinces—Saskatchewan (ranked 3rd), Quebec (ranked 6th) and Newfoundland & Labrador (ranked 8th)—are in the top 10 most attractive jurisdictions for mining investment.
However,
despite the relatively strong performance of these provinces compared
to international competitors, several provinces with enormous potential
continue to struggle because of poor government policies.
Consider
British Columbia. This is a textbook example of how a jurisdiction
endowed with abundant mineral resources can become unattractive for
investment due to poor policies. Based on pure mineral potential, B.C.
ranks 10th out of 77 mining jurisdictions. On mining policy, however, B.C. ranks 41st. When taking into account both mineral potential and policies, B.C. ranks 17th.
Given
B.C.’s poor performance in the survey, the province would benefit from
resolving its ongoing policy issues. For instance, 78 per cent of survey
respondents cited disputed land claims as deterrents to investment in
B.C. and 75 per cent cited “protected areas.”
Similarly, Ontario, which was the 7th most attractive jurisdiction for mining investment in 2017, this year ranked 20th. On policy factors alone, the province went from ranking 20th in 2017 to 31st
in 2020. Like in B.C., investors view Ontario’s ongoing issues with
disputed land claims and protected areas as major policy factors
hindering the province’s mining competitiveness.
This
trend continues with Quebec, which ranked in the top 10 most attractive
jurisdictions worldwide this year. However, the province’s strong
performance is largely driven by improved investor perceptions of the
province’s mineral potential. When considering government policy factors
alone, Quebec ranks 17th,
suggesting room for improvement, with investors noting Quebec’s
uncertain regulatory regime, disputed land claims and protected areas.
Indeed,
uncertainty around disputed land claims and protected areas are among
the top two greatest deterrents to investment in every Canadian province
included in the survey. If mining investors are uncertain whether they
can access land for exploration and production, they’ll be hesitant to
invest.
Clearly,
governments can’t solely rely on their jurisdiction’s mineral potential
to attract investment. In reality, policy uncertainty matters to
investors and if provincial governments hope to attract the investment
required to develop these resources, mitigating these risks should be
their top priority.
Jairo Yunis and Elmira Aliakbari are analysts at the Fraser Institute.
|
Friday, March 12, 2021
KryptAll Keeps Your Phone Records Private
KryptAll Keeps Your Phone Records Private:
Information that can be collected from phone records has become a common form of identity theft. The KryptAll K iPhone employs the highest-level encryption. In addition, KryptAll keeps your calling records private by not generating any calling records. No calling records means no possibility of identity...
Wednesday, March 10, 2021
Students will be stuck paying the pandemic debt tab
The lingering financial fallout from the pandemic will cost our students for the rest of their lives
|
By Jasmine Moulton
Ontario director
Canadian Taxpayers Federation.
The
pandemic has been hard on students of all ages. As many parents can
attest, their children have missed the social interaction at school and
have struggled to focus during online learning. Post-secondary students
have missed out on important and exciting life experiences, too.
But
even after in-class and on-campus learning has resumed to near normal
levels, the lingering financial fallout from the pandemic will cost
these students for the rest of their lives.
The
provincial and federal governments racked up enormous deficits over the
course of the past year that will be tacked on to the hundreds of
billions in debt they brought into the pandemic. Ontario’s debt is
projected to hit $398 billion by the end of this fiscal year, while the feds’ will surpass $1.1 trillion. The Fraser Institute calculates that each Ontarian’s individual portion of these debts combined now amounts to $58,559.
Imagine
how alarming an Ontario birth announcement would be if the sign on the
front lawn of new parents read: “It’s a boy, and he’s already nearly
$60,000 in debt!”
But
the principal amount to be repaid isn’t the only cost of debt. Interest
payments on the combined debt of the federal and provincial governments
will cost each Ontarian $1,375 this year, according to a report
from the Fraser Institute. If parents saved even their child’s portion
of that money in a registered education savings plan over 18 years,
they’d have a nest egg of $24,750, plus interest, to give their child to
help pay for post-secondary education. But because politicians have
spent beyond their means, that money goes to our governments’ creditors
instead.
Political
leadership is needed from provincial and federal governments to address
this costly debt burden being unfairly passed on to today’s students,
yet sadly the opposite is happening. Politicians love grandstanding
about dumping more money into education, even if it’s extremely
wasteful.
Consider
Ontario’s new French university, the UniversitĂ© de l’Ontario français,
set to open its doors to students for the first time in Toronto this
fall semester. By the original application deadline of Jan. 15, 2021,
UOF had only received 39 applications, 19 of which came from current
Ontario students. Data obtained from the Ontario University Application
Centre revealed that of those 19 Ontario students, only two listed UOF
as their first choice of school. Two!
UOF
was jointly funded by provincial and federal taxpayers at $63 million a
pop, for a total of $126 million in funding over eight years. That
means that if all 39 applicants are accepted and choose to attend UOF
this fall, then each student will cost taxpayers over $400,000 this year
alone.
While
some might like the idea of a French university in Toronto, proponents
should first advocate for provincial debt reduction because the $12.5
billion Ontario will spend on interest payments this year could have
paid for 99 UOFs (not that there’s enough demand to justify one).
The
provincial government also owes taxpayers, current and future, some
serious accountability regarding costs in Ontario’s public schools which
continue to increase while student performance declines.
Ontario Education Minister, Stephen Lecce, should be looking toward
innovative models for public education such as charter schools which
have succeeded in reducing costs while outperforming other public schools on average in Alberta.
Ontario
students have been through a lot this year, but the pandemic will
continue to cost them through higher tax bills for the rest of their
lives if their parents don’t demand governments get their spending under
control now.
Jasmine Moulton is Ontario Director of the Canadian Taxpayers Federation.
|
Anil Uzun Will Start a New YouTube Series, “Cooking in New Zealand”
Anil Uzun Will Start a New YouTube Series, “Cooking in New Zealand”:
Anil Uzun will start a new series to discover New Zealand cuisine. The series will be broadcasted on YouTube and the first episode will air on June 10 at 07.00 pm.
Monday, March 8, 2021
Friday, March 5, 2021
Thursday, March 4, 2021
Ba Organics Launches Sustainable Hemp Infused Vitamin Line Called Adaptoids
Ba Organics Launches Sustainable Hemp Infused Vitamin Line Called Adaptoids:
Ba Organics has released an innovative line of CBD nutraceuticals called Adaptoids. The wellness tablets are the first of it's kind to deliver accurate doses of hemp-derived cannabinoids and organic whole-fruits aimed at reducing stress and providing daily antioxidant support in one.
Monday, March 1, 2021
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