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In recent years, the subject of the government's debt has become more prominent in discussions on public finances. People are concerned by the size of the debt and its growth. Various governments in Canada use a number of debt concepts to measure indebtedness. The main concepts are debt representing accumulated deficits, gross debt, net debt and the debt of the public sector as a whole. Each concept has its own rationale. This document explains the various concepts of debt in Québec as well as those used by the federal and provincial governments in Canada.
A reasoned conversation between Quebec and Canada is needed, say these authors, in order to avoid a number of very bad economic shocks should Quebec separate.
MacKinnon, Canada's first female finance minister, provides keen observations on how personalities and shared regional perspectives cut across party affiliations in the evolution of federal-provincial deliberations on managing the debt crisis. Although initially opposed to the radical cuts and downloading unilaterally imposed by the federal minister of Finance in his 1995 budget, she now argues that they were essential and analyses how they have irrevocably transformed the Canadian federation. MacKinnon provides a timely analysis of the implications of the fiscal crisis for the future of medicare and Canada's other social programs and shows why politicians must involve the Canadian public in an open and frank debate about the challenges and choices facing the nation.

Canada

International Monetary Fund. Monetary and Capital Markets Department

Published: 2019-06-24

Total Pages: 85


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This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.
Grasp the unique history of Quebec? Easy. Packing in equal parts fun and facts, History of Quebec For Dummies is an engaging and entertaining guide to the history of Canada's second-largest province, covering the conflicts, cultures, ideas, politics, and social changes that have shaped Quebec as we know it today. "My country isn't a country, it is winter!" sings the poet Gilles Vigneault . . . Indeed, Quebec is winter, snow, cold, and freezing winds. It is also the majestic river Saint-Laurent and its numerous confluences across America. It is vast, dense forests, countless lakes, magnificent landscapes of Saguenay, Charlevoix, Côte-Nord, or Gaspésie. Quebec is also the "old capital" perched on the Cape Diamond facing the sea. It is Montreal, the first French city of North America, the creative and innovative metropolis, junction for different cultures and heart of a nation yearning to belong to the world's history. History of Quebec For Dummies tells Quebec's fascinating story from the early fifteen hundreds to the present, highlighting the culture, language, and traditions of Canada's second-largest province. Serves as the ideal starting place to learn about Quebec Covers the latest, up-to-the-minute findings in historical research Explores the conflicts, cultures, ideas, politics, and social changes in Quebec Lifelong learners and history buffs looking for a fun-yet-factual introduction to the grand scope of Quebec history will find everything they need in History of Quebec For Dummies.
Consolidated as of April 17, 1982.