The CEO Poll: Flaherty Aces Economic Statement
Canadian Business Online
November 15, 2007
Finance Minister Jim Flaherty earns top scores from the COMPAS business panel for his economic statement or mini-budget. The average school report-type score given for the mini-budget was 74%.
The Harper government has been earning higher performance scores than the previous Liberal government, and the score for the economic statement is among its highest—in the 95%tile. It is rare for any politician or government to earn a score higher than 70%, almost never higher than 80%. The only Conservative scores higher than Flaherty’s on this mini-budget were Conservative government scores for:
- the budget in May, 2006—76%;
- reducing the debt/GDP ratio in October, 2006—76%;
- reducing program spending (same date, same score); and
- getting a clean opinion on its 2005-2006 financial statements from the Auditor-General in (same date, 82%).
The only federal Liberal government scores higher than the one for the current economic statement were for Paul Martin’s government in respect of a promise to make municipalities GST-exempt (76%), aiding the U.S. after Katrina (76%), and making the Ethics Commissioner independent of government (82%).
On specific aspects of the economic statement, top marks went for debt reduction, increasing the personal exemption and reducing the tax rate for small business. The lowest support, albeit moderately positive, was for the further cut in the GST. Some concern was volunteered about the undesirability of the GST cut.
Asked about their concerns, the two main ones to emerge were a desire for more infrastructure spending and debt repayment. Some concern was volunteered about the fate of manufacturing, the need for tax simplification, and other matters.
These are the key findings from the current web-survey of the panel of CEOs and business leaders undertaken for Canadian Business under sponsorship of BDO Dunwoody LLP.
To view the complete poll, please click here
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