Latest news with #publicpurse
Bloomberg
01-07-2025
- Business
- Bloomberg
Offshore Wind Boosts Earnings for the UK's Crown Estate
Britain's seabeds helped the royal property company hand £1.1 billion ($1.5 billion) to the public purse in the year through March. The Crown Estate said its annual earnings, which were broadly stable compared to the previous year, are benefiting from short-term option fees generated by the latest round of leases awarded for wind farms in British waters.
National Post
17-05-2025
- Business
- National Post
Michael Higgins: How bad are things when the Liberals refuse to have a budget?
When the federal government spends your money — and it is most definitely your money — one of the ways it is held accountable is by presenting an annual budget. Article content Article content The budget, among other things, details how the government spent your money, how much more of your money it will need in the future, the profligate and useful ways in which your money was spent, and — especially in the Liberals' case — how much debt the government needs to rack up to pay for its excessive spending. Article content Article content One of the government's primary roles — perhaps its most important — is to be stewards of the public purse. Article content Article content Not to have a budget for two years is not only an abdication of that role, it is a slap in the face of all Canadians. Give us your money, says the Liberal government, but accountability? Why, there is no need for that. Article content The last budget in April 2024 promised 'fairness for every generation,' to build more homes, to make life more affordable and to grow the economy. Article content Then it got blown up in December when Finance Minister Chrystia Freeland resigned, charging Prime Minister Justin Trudeau with ' political gimmicks ' and implying the Liberals were failing to keep their fiscal powder dry in the face of incoming U.S. tariffs. Article content The whole episode highlighted just how important it is for us all to keep an eye on the nation's finances. Article content Shortly thereafter, Parliament was dissolved, then prorogued, and then there was an election. The supposed democracy of Canada hasn't had a sitting Parliament for five months. Article content And now our newly minted finance minister, François-Philippe Champagne, says we don't need a budget this year. Instead, we will get a fall economic statement which isn't the same thing at all. Often called a mini budget, it is less detailed and more an update on where things stand. Champagne told CTV's Vassy Kapelos, 'My objective is to provide (Canadians) with the best possible picture of the finances of Canada. It is to be prudent.' Article content Article content Champagne said that after the summer parliamentary break and in the fall, there would be a fiscal update 'which is going to be substantive and, like I said, there is going to be no surprises.' Article content Our finance minister speaks in contradictions: on the one hand he wants to give Canadians the best possible picture, and on the other hand, he will only provide a mere update in the fall. Article content It is also a wonder that the word prudent didn't turn to ashes in his mouth considering the Liberals abysmal ten-year economic record in power. A new report by the Fraser Institute reveals total government spending has soared. In 2014, it was 38.4 per cent of the national economy, last year it was 44.7 per cent. Our debt burden now means we are the seventh highest out of 40 advanced economies. Article content 'Simply put, over the last decade, Canada has experienced substantial growth in both the size of government and the overall debt burden that has outpaced virtually every other advanced country. This has translated to a deterioration in the state of Canada's finances relative to comparable countries, and likely means lower economic growth and reduced living standards for Canadians,' says the report.
