|By Marketwired .||
|December 6, 2012 06:32 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/12 -- Premier Kathy Dunderdale of Newfoundland and Labrador has governed with the best fiscal policy among 10 provincial premiers, according to a new report released today by the Fraser Institute, Canada's leading public policy think-tank.
The report, Measuring the Fiscal Performance of Canada's Premiers 2012, is a relative assessment of how Canada's premiers have managed the public finances of their provinces. It ranks 10 premiers (eight current and two former) on three components of fiscal policy: government spending, taxes, and debt and deficits.
"The pursuit of sound fiscal policy by our premiers is an important foundation for improving our economic well-being," said Charles Lammam, Fraser Institute economist and co-author of the report.
"Sound fiscal policy means premiers have to manage government spending prudently, balance budgets, and avoid imposing a tax burden so heavy that it becomes a disincentive for people to work hard, save, invest, and be entrepreneurial. The economic record shows clearly that these factors help foster economic growth and prosperity."
Kathy Dunderdale (Newfoundland and Labrador) ranked first overall with a score of 71.4 out of 100; David Alward (New Brunswick) placed second, with a score of 70.4; Brad Wall (Saskatchewan) was third, with a score of 61.6; and Christy Clark (British Columbia) ranked fourth, with a score of 60.8.
All other premiers scored less than 50 out of 100. Ed Stelmach (former premier of Alberta) placed fifth, with a score of 49.1; Darrell Dexter (Nova Scotia) came in sixth, with a score of 37.9; Jean Charest (former premier of Quebec) was seventh, with a score of 35.9; Dalton McGuinty (Ontario) ranked eighth, with a score of 28.9; Robert Ghiz, (Prince Edward Island) placed ninth, with a score of 23.5; and Greg Selinger (Manitoba) was last overall, with a score of 19.2 out of a possible 100.
Spotlight on Government Spending
A large body of academic research shows that excessive increases to government spending can hinder an economy's performance.
On government spending, New Brunswick's David Alward took top position with a score of 88.5 out of a possible 100, followed by Kathy Dunderdale (Newfoundland and Labrador) at 70.8 and Christy Clark (British Columbia) at 54.5. The remaining premiers scored below 50: Darrell Dexter (Nova Scotia) at 31.3, Jean Charest (Quebec) at 29.9, Ed Stelmach (Alberta) at 28.6, Brad Wall (Saskatchewan) at 27.5, Robert Ghiz (PEI) at 13.9, Dalton McGuinty (Ontario) at 12.3, and Greg Selinger (Manitoba) last overall with a score of 0.0.
Premiers who increased spending faster than economic growth and the rate needed to compensate for inflation and population growth performed worse on this component than their counterparts.
Tax rates and the structure of the tax system have a significant impact on incentives that influence whether businesses and individuals engage in productive economic activity.
New Brunswick's David Alward led with a score of 87.6 out of a possible 100, followed by Ed Stelmach (Alberta) with a score of 70.0, Christy Clark (British Columbia) at 62.8, Brad Wall (Saskatchewan) at 57.4, and Dalton McGuinty (Ontario) at 54.8. The remaining premiers scored below 50: Greg Selinger (Manitoba) at 44.8, Kathy Dunderdale (Newfoundland and Labrador) at 43.3, Jean Charest (Quebec) at 38.0, Robert Ghiz (PEI) at 32.0, and Darrell Dexter (Nova Scotia) last overall with a score of 14.1.
Premiers who maintained lower corporate and personal tax rates and reduced them relative to their counterparts performed better, as did premiers who presided over personal income tax systems with fewer, rather than more, tax brackets.
Tackling Debt and Deficits
Debts and deficits are a critical aspect of fiscal performance because annual deficits increase the overall level of government debt, requiring more tax dollars to be spent on interest costs and less on public services and tax relief.
Kathy Dunderdale of Newfoundland and Labrador and Brad Wall of Saskatchewan tied for first place on this measure with perfect scores of 100. They were the only premiers to both record a surplus and reduce net debt, on average, during their tenures.
Darrell Dexter (Nova Scotia) was a distant third, scoring 68.4, with Christy Clark (British Columbia) in fourth at 65.0. The other six premiers, all of whom incurred a deficit, failed to score above 50: Ed Stelmach (Alberta) at 48.6, Jean Charest (Quebec) at 39.9, David Alward (New Brunswick) at 35.1, Robert Ghiz (PEI) at 24.8, Dalton McGuinty (Ontario) at 19.7, and Greg Selinger (Manitoba) last overall with a score of 12.7 out of a possible 100.
The Debt and Deficits component measures a premier's use of deficit financing for government spending and whether they increased the province's accumulated debt burden.
"With nearly all provinces expecting budget deficits and increased government debt this year, prudent fiscal management is a pressing economic issue for many Canadians," Lammam said.
"Premiers who fare well should be commended, while those lagging behind should use the performance of others as a model for reform. Regardless of where they ranked, all premiers, even those with high rankings, have room for improvement."
In Measuring the Fiscal Performance of Canada's Premiers 2012, each premier's performance is measured over the time he or she held office up to the most recent year with available historical data (fiscal year 2011/12). Some premiers were evaluated over a longer period than others; for instance, Quebec's former premier Jean Charest was evaluated for the longest period (2003/04 to 2011/12), whereas British Columbia's Christy Clark, New Brunswick's David Alward, and Newfoundland and Labrador's Kathy Dunderdale were evaluated for the shortest period (2011/12).
The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of 86 think-tanks. Its mission is to measure, study, and communicate the impact of competitive markets and government intervention on the welfare of individuals. To protect the Institute's independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org.
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Aug. 29, 2015 07:30 PM EDT Reads: 362
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Aug. 29, 2015 07:15 PM EDT Reads: 361
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Aug. 29, 2015 07:15 PM EDT Reads: 353
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Aug. 29, 2015 07:00 PM EDT Reads: 455
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 29, 2015 06:00 PM EDT Reads: 370
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Aug. 29, 2015 04:00 PM EDT Reads: 308
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
Aug. 29, 2015 03:45 PM EDT
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 29, 2015 03:30 PM EDT Reads: 420
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Aug. 29, 2015 03:15 PM EDT Reads: 195
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Aug. 29, 2015 01:00 PM EDT Reads: 140
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Aug. 29, 2015 12:00 PM EDT Reads: 136
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Aug. 29, 2015 11:45 AM EDT Reads: 142
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Aug. 29, 2015 11:30 AM EDT Reads: 192
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Aug. 29, 2015 11:00 AM EDT Reads: 236
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Aug. 29, 2015 11:00 AM EDT Reads: 197