Does Nova Scotia stifle innovation?
Disruptors fear province doesn’t welcome new ideas
MEDIA RELEASE: Broten Report a great start; requires immediate action from government says AIMS and economist
Halifax – A report commissioned by the Atlantic Institute for Market Studies (AIMS) and written by Dr. Kevin Milligan, Associate Professor, Vancouver School of Economics, suggests the recommendations of the seven-month-old Broten Review are steps in the right direction in terms of fairness in Nova Scotia`s tax system. According to Marco Navarro-Genie, AIMS president and [...]
MEDIA RELEASE: Save And Spend, In That Order
The recent drop in oil prices is an opportunity in disguise for Newfoundland and Labrador, and Atlantic Canada more generally. It’s an opportunity to step out of the intoxicating smoke of provincial resource revenue and say: “What on Earth were we thinking by spending all our oil revenue as fast it flowed in! Let’s get off this roller coaster and transform our oil resources into a permanent financial asset that will pay off in perpetuity.”
Alberta should save all of its resource revenue
It’s blasphemy, but when Peter Lougheed decided in 1976 to put 30 per cent of natural resource revenue into the Alberta Heritage Fund, he got it wrong. It should’ve been 100 per cent. In Lougheed’s defence, he got it a lot less wrong than the premiers who came after him, and he didn’t have the benefit of hindsight. The last 40 years on the resource revenue roller-coaster show that the best way to deal with the volatile and intergenerational nature of resource revenue is to transform it into a permanent financial asset that produces a steady stream of annual revenue.
A Good Problem to Have
Co-authored by Senior Fellow, Robert Roach, Research Associate, Jeff Collins, and AIMS President and CEO, Marco Navarro-Genie, the paper – A Good Problem to Have: Lessons for Atlantic Canada from Alberta’s Experience with Natural Resource Revenue – calls for stability in Atlantic Canada’s strategy to transform non-renewable resources into a permanent financial asset.
How the Maritimes Became Canada’s Incredible Shrinking Region
John Ibbitson writes about how the Maritimes became Canada’s incredible shrinking region. After decades of declining fortunes, the Maritime provinces now find themselves trapped in what one observer describes as “a perfect storm” of economic and demographic decline. But the real problem is the makeup of the population that remains. Every year – due to a weakening economy, a dearth of immigrants, and a population reluctant to face these problems – there are fewer workers to pay taxes and more old people in need of government services.
Atlantic Provinces Look to Set Standard Public Sector Wages
NB reporter Adam Huras discusses a new development in Atlantic Canada, wherein the four provinces have begun inquiring into whether standardized public sector wage scales could help rationalize public spending in the region and he cites figures outlined in an AIMS report from 2014.
John Bragg: Cut Civil Service to Help Dig NS Out of Debt
Nova Scotia should cut its civil service and use the savings to help dig itself out of debt, says businessman and former Ivany report commissioner John Bragg. The province has 99 civil servants per 1,000 residents, well above the national average of 84 civil servants per 1,000 residents, Bragg said quoting a recent study prepared by the Atlantic Institute for Market Studies. Bragg offered the advice during a keynote address at an institute function in Halifax Wednesday evening that marked the one-year anniversary of the release of what has become known as the Ivany report. Its official title is Now or Never: an urgent call to action for Nova Scotians. “These are not easy issues to solve. They take fortitude and guts,” Bragg said.
Ivany Report Anniversary Underlines Need for Change
In the year since the Ivany Commission told Nova Scotians that fundamental changes are needed to reverse the slide in the economy, critics say the government is "slow off the mark," implementing the changes. The report called "Now or Never: A Call to Action for Nova Scotians" made 19 recommendations that include boosting exports and the number of new businesses, as well as attracting more people to Nova Scotia. John Bragg is the founder and president of Oxford Frozen Foods, the world's largest blueberry producer, and a member of the Ivany Commission. He gave the keynote speech Wednesday night at an event called For the Love of Nova Scotia, hosted by the Atlantic Institute of Market Studies. Here's Bragg's assessment of what progress the province has made, one year later: "Well I'm not either satisfied or disappointed, but I do think we are slow off the mark," said the Cumberland County blueberry baron and owner of Eastlink Cable.
PEI Golf Missing the Cut
Roughly 25 years ago, the province took a real shine to golf as a tool to draw tourists to P.E.I. With the sport booming across North America in the 1990s, the government decided to make golf development a centerpiece of its tourism and economic development strategies. A new research report from the Atlantic Institute for Market Studies (AIMS) concludes the efforts were largely a flop — and quite a costly one at that. The paper, called Short of the Green: Golf as an Economic Development tool on Prince Edward Island, states that the Crown corporation created specifically to operate provincially owned courses has lost money in 10 of the last 14 years.