Institute of Fiscal Studies and Democracy (IFSD)

🎙️ Introducing The Politics of Money — a new podcast from IFSD 🎙️ Hosts Kevin Page and Sahir Khan take listeners inside the policies, institutions, and fiscal choices shaping Canada. Grounded in evidence, not spin. In our first episode, Kevin, Sahir, and Mostafa Askari draw on their experiences building and leading the PBO to reflect on a pivotal moment for Canada’s fiscal oversight: the nomination of Annette Ryan as Canada’s new Parliamentary Budget Officer. They discuss: 👉 Annette Ryan's qualifications 👉 Why the PBO matters to Parliament and the public 👉 How it has evolved since 2008 👉 How to strengthen the Office of the PBO to meet today’s challenges 🎧 The Politics of Money 🎧 Smart, fact‑based conversations. A timely podcast for uncertain times. Watch now on YouTube: 👀 youtu.be/crS_DTnlPKc?si… Listen and subscribe on your favourite Podcast app: 👂 ifsd-thepoliticsofmoney.transistor.fm RSS Feed: 📰 feeds.transistor.fm/the-politics-o… #ThePoliticsOfMoney #PublicFinance #FiscalPolicy #Institutions #Democracy #IFSD

🆕 Bonus Politics of Money episode: Why the Estimates are so confusing. Every spring, Parliament votes to approve hundreds of billions of dollars in spending through the Main Estimates. Every year, the government also tables its Budget. But MPs, journalists, and the public are often left trying to reconcile documents that don’t line up. In a special bonus episode of 𝘛𝘩𝘦 𝘗𝘰𝘭𝘪𝘵𝘪𝘤𝘴 𝘰𝘧 𝘔𝘰𝘯𝘦𝘺, IFSD’s Kevin Page and @sahir_yow discuss why Canada runs parallel Budget and Estimates systems, how that structure creates confusion, and how better alignment would improve accountability and public trust. A clear, non‑partisan look from @IFSD_IFPD at how public money is approved — and how the system could be reformed to work better. ▶️ Watch on YouTube: youtu.be/ZZV9VRBHdpw 🎧 Listen now: share.transistor.fm/s/ad8ec401

Canada isn’t unique in facing tensions between central governments and provinces or states. But in IFSD’s latest 𝘛𝘩𝘦 𝘗𝘰𝘭𝘪𝘵𝘪𝘤𝘴 𝘰𝘧 𝘔𝘰𝘯𝘦𝘺 podcast, former Intergovernmental Affairs Minister @HonStephaneDion reflects on what does set Canada apart: very strong decentralization and the risk of “𝘧𝘶𝘦𝘭𝘭𝘪𝘯𝘨 𝘵𝘩𝘦 𝘴𝘦𝘯𝘴𝘦 𝘵𝘩𝘢𝘵 𝘸𝘦 𝘮𝘢𝘺 𝘱𝘶𝘵 𝘵𝘩𝘦 𝘦𝘹𝘪𝘴𝘵𝘦𝘯𝘤𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘤𝘰𝘶𝘯𝘵𝘳𝘺 𝘰𝘯 𝘵𝘩𝘦 𝘵𝘢𝘣𝘭𝘦 𝘦𝘢𝘤𝘩 𝘵𝘪𝘮𝘦 𝘸𝘦 𝘩𝘢𝘷𝘦 𝘢 𝘥𝘪𝘴𝘢𝘨𝘳𝘦𝘦𝘮𝘦𝘯𝘵.” Watch or listen to the full discussion between Stéphane Dion and @IFSD_IFPD 𝐏𝐫𝐞𝐬𝐢𝐝𝐞𝐧𝐭 𝐊𝐞𝐯𝐢𝐧 𝐏𝐚𝐠𝐞. 📺 Watch now: youtu.be/JBRBLnYkZ3U 🎧 Listen to podcast episode: share.transistor.fm/s/db1eedd0

“The system is being pushed to create new agencies and programs while injecting roughly $30 billion into the economy. That’s not business as usual.” Kevin Page, President of @IFSD_IFPD, participating in a timely @uOttawaResearch #OPPRO discussion on Budget 2025, research capacity, and the role research institutions play in evidence‑based decision‑making. These conversations underscore why strong institutions and credible analysis matter. Highlighting the leadership and policy‑relevant research underway at @uOttawa. Where #research, public finance expertise, and academic insight help inform the real choices facing governments and Parliament at this "hinge moment" for Canada. 📰Read the full piece: uottawa.ca/research-innov… @uOttawaFSS #PublicPolicy #fiscalpolicy #education

After eight years as Canada's leading diplomat in Europe, Stéphane Dion talks about what it will take for Canadian businesses to grow trade with Europe. “…If you tell them, but you have a market that you may discover in France or in Germany or Belgium or in the Netherlands, we have trade commissioners willing to work with you. You will need to take their hand to bring them, to introduce them to new clients or new partners. Otherwise, it will not happen...We must be serious this time." Dion joins Kevin Page for a wide-ranging conversation about Canadian unity, the resilience of federalism and European trade and diplomacy. 📺 Watch the full conversation: youtu.be/JBRBLnYkZ3U 🎧 Or listen on your favourite podcast app: ifsd-thepoliticsofmoney.transistor.fm/episodes/canad…

The Canadian Mortgage and Housing Corporation (CMHC) reported that the national trend in housing starts edged up in February (4.5%, 250,900 Units compared to 240,148 in January). The six-month trend increased by 0.4% from August to reach 256,005 units.

The CPI rose at a slower pace in all provinces. Quebec (+2.8%) and New Brunswick (+2.2%) topped the ranking at the provincial level. Conversely, Prince Edward Island (+0.8%) is at the bottom of the pack, with the lowest rate.

Selon la Société Canadienne d’Hypothèques et de Logement (SCHL), la tendance des mises en chantier d’habitations a augmenté en février de 4.5% (250 900 unités par rapport aux 240 148 unités du mois de janvier).

Quant à la tendance sur six mois des mises en chantier d’habitations, elle a aussi progressé, quant à elle, de 0,4 % pour atteindre 256 005 unités.

The Consumer Price Index (CPI) grew 1.8% y/y in February, down from 2.3% in January. Excluding gasoline, the CPI rose 2.4% y/y. The CPI rose 2.0% y/y, excluding food and energy, and 1.1% excluding food only. The @IFSD_IFPD 2026Q1 Nowcast dropped to -1.6% (q/q, annualized).

En février, l’indice des prix à la consommation (IPC) a crû de 1,8 % d’une année à l’autre, contre 2,3 % le mois précédent. Excluant l’essence, l’IPC a progressé de 2,4 % a/a. Le PIB immédiat @IFSD_IFPD 2026T1 chute à -1,6 % (t/t, annualisé).

📺 Watch their full conversation: youtu.be/JBRBLnYkZ3U 🎧 Listen on your favourite podcast app: ifsd-thepoliticsofmoney.transistor.fm/episodes/canad…

“Europeans and Canadians have always loved each other. But we never felt that we needed each other.” That has changed. We see that again today with Prime Minister Mark Carney's latest diplomatic foray to Europe. In the latest The Politics of Money epsiode, join Stéphane Dion in conversation with Kevin Page for a timely conversation, as Canada faces external sovereignty pressures and internal unity threats. Dion talks about why Europe is now central to Canada’s economic strategy and our sovereignty –– beyond borders and toward institutions, alliances, and values. On sovereignty—often framed narrowly in Canada—Dion offers a broader lens: “Sovereignty isn’t just about borders. It’s about values, institutions, and our ability to work together.”

Money moves through government and drives decision-making in a variety of ways. These decision affect us all. Before 2008, MPs and the public were severely limited in access to public finance information. And most of what we did have was from the government itself. But in 2008, the independent Office of the Parliamentary Budget Officer was created and Kevin Page was appointed as the first PBO. Since 2008, Canada's Parliamentary Budget Office has grown from a handful of people wondering if the PBO would be shut down by the government at any time to one of the world's best Legislative budget offices, according to the OECD. With the announcement of the nomination of Annette Ryan as the next PBO, the founding PBO team of Kevin Page, @sahir_yow, and Mostafa Askari reflect on their work building the Office – and why the PBO is needed today more than ever. 🎧 Listen and subscribe to #ThePoliticsofMoney on YouTube or your favourite podcast app: ifsd-thepoliticsofmoney.transistor.fm

Get the full episode 👇 📺YouTube: youtu.be/crS_DTnlPKc 🎧 Podcast: ifsd-thepoliticsofmoney.transistor.fm/episodes/new-p…

Canada's #PBO is needed now more than ever. Challenging months ahead for Canada, but the Parliamentary Budget Office can provide a common set of facts, helping raise the level of debate. 🎧 Listen to the full Politics of Money episode on the state of the PBO and nomination of Annette Ryan.

Annette Ryan, Canada’s Next PBO, Will Rise to the Challenge - Policy Magazine policymagazine.ca/annette-ryan-c…

Strong democracies rely on strong institutions – especially when it comes to fiscal oversight. In a new op‑ed for @policy_mag, Canada's founding Parliamentary Budget Officer, (and @IFSD_IFPD President,) Kevin Page reflects on the nomination of Annette Ryan as Canada’s next #PBO — and why the institution matters now more than ever. As Canada confronts global trade and security disruption, rising defence spending, and major capital investment decisions designed to shift Canada’s economy, it’s not business as usual for Canadian fiscal policy. The PBO plays a critical role for Parliament and the public: providing timely, independent, and authoritative analysis that increases transparency, fosters accountability, and improves political debate. The Office of the PBO doesn’t make political decisions, but its work supplies the facts and analysis that allow elected officials, and the Canadian public, to debate economic priorities, trade‑offs, and public policy choices. Read Kevin’s full op‑ed 👇 policymagazine.ca/annette-ryan-c…

Strong fiscal oversight institutions matter — and leadership matters, too. Kevin Page, @IFSD_IFPD 's President, spoke to @theglobendmail about Annette Ryan's nomination to be Canada’s next Parliamentary Budget Officer. From his vantage point as Canada's first PBO, Kevin talked about the kind of qualities that are needed to lead this critical institution at this pivotal moment, the kind of qualities Kevin says Ms. Ryan will bring to the job if her nomination is approved by Parliament. “She is smart, analytical and strategic. She is a good communicator. She is a dedicated and hard working public servant. In addition, Annette Ryan is a wonderful person. She has an East Coast charm that will engage PBO staff, Parliamentarians and Canadians.” theglobeandmail.com/politics/artic…

Ottawa nominates Annette Ryan as next Parliamentary Budget Officer theglobeandmail.com/politics/artic…