Fiscal policy

Emerging markets face a USD 5.4 trillion-per-year shortfall in savings for sustainable retirements, says Swiss Re Institute

Retrieved on: 
Tuesday, June 29, 2021
Pensions, Finance, Money, Economy, Personal finance, Retirement, Fiscal policy, Pensions crisis

- Emerging markets face a USD 5.4 trillion pension savings shortfall for every year of their workers' retirements, or USD 106 trillion in cumulative terms.

Key Points: 
  • - Emerging markets face a USD 5.4 trillion pension savings shortfall for every year of their workers' retirements, or USD 106 trillion in cumulative terms.
  • - Latin America has a pension savings gap of USD 514 billion per year, or USD 50 000 per worker on average.
  • ZURICH, June 29, 2021 /PRNewswire/ --Workers in emerging markets are retiring without sufficient assets to cover their pension needs, creating a total pension shortfall of about USD 106 trillion, Swiss Re Institute estimates.
  • 2The pension savings gap is the unfunded gap between pension funds available and the retirement need of emerging markets' working populations.

Emerging markets face a USD 5.4 trillion-per-year shortfall in savings for sustainable retirements, says Swiss Re Institute

Retrieved on: 
Tuesday, June 29, 2021
Pensions, Finance, Money, Economy, Personal finance, Retirement, Fiscal policy, Pensions crisis

- Emerging markets face a USD 5.4 trillion pension savings shortfall for every year of their workers' retirements, or USD 106 trillion in cumulative terms.

Key Points: 
  • - Emerging markets face a USD 5.4 trillion pension savings shortfall for every year of their workers' retirements, or USD 106 trillion in cumulative terms.
  • - Latin America has a pension savings gap of USD 514 billion per year, or USD 50 000 per worker on average.
  • ZURICH, June 29, 2021 /PRNewswire/ --Workers in emerging markets are retiring without sufficient assets to cover their pension needs, creating a total pension shortfall of about USD 106 trillion, Swiss Re Institute estimates.
  • 2The pension savings gap is the unfunded gap between pension funds available and the retirement need of emerging markets' working populations.

Fraser Institute News Release: Saskatchewan’s fiscal crisis reforms in the 1990s provide a roadmap for Atlantic Canada now, which faces similar problems

Retrieved on: 
Thursday, June 24, 2021
Government spending, Keynesian economics, Deficit spending, Government budget balance, Fiscal policy, Government debt, Government

Policymakers in the Maritimes are facing large, long-term fiscal challenges including persistent budget deficits, mounting debt and the threat of rising interest costs.

Key Points: 
  • Policymakers in the Maritimes are facing large, long-term fiscal challenges including persistent budget deficits, mounting debt and the threat of rising interest costs.
  • Fortunately, there are lessons from elsewhere in Canada to learn from, said Alex Whalen, policy analyst at the Fraser Institute and co-author of Fiscal lessons for Atlantic Canada from Saskatchewan .
  • Like Saskatchewan, the region faces the economic challenges of persistent deficit, rising debt, and overall lack of economic opportunity.
  • For solutions, policymakers can look to Saskatchewan, which during the 1990s went from the brink of insolvency to relative fiscal health.

AstroNova Reports Fiscal First-Quarter 2022 Financial Results

Retrieved on: 
Thursday, June 10, 2021
Electronic design automation, Engineering, Technology, Aerospace, Manufacturing, Software, Hardware, Fiscal policy

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced financial results for the fiscal 2022 first quarter ended May 1, 2021.

Key Points: 
  • AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced financial results for the fiscal 2022 first quarter ended May 1, 2021.
  • Gross profit was $10.9 million, or 37.4% of revenue in the first quarter of fiscal 2022, compared with $10.9 million, or 35.1% of revenue, in the same period of fiscal 2021.
  • Bookings in the first quarter of fiscal 2022 were $32.8 million, compared with $31.2 million in the first quarter of fiscal 2021.
  • AstroNova will discuss its fiscal first-quarter 2022 financial results in an investor conference call at 9:00 a.m.

Fraser Institute News Release: Ford government follows same failed deficit-reduction strategy of its predecessors

Retrieved on: 
Tuesday, June 8, 2021
Government spending, Government budget balance, Tax, Fiscal policy, Déficit, ONTARIO, Government, Ontario government debt, Dalton McGuinty

Despite criticisms of past governments, the Ford government has generally continued the fiscal policies of the McGuinty and Wynne governments with respect to spending and debt, said Ben Eisen, senior fellow at the Fraser Institute and author of Ford Government Fiscal Policy Approach Mirrors that of McGuinty and Wynne.

Key Points: 
  • Despite criticisms of past governments, the Ford government has generally continued the fiscal policies of the McGuinty and Wynne governments with respect to spending and debt, said Ben Eisen, senior fellow at the Fraser Institute and author of Ford Government Fiscal Policy Approach Mirrors that of McGuinty and Wynne.
  • The aim is to slow the growth in spending and allow time for revenues to catch up to spending levels in order to balance the budget.
  • This is the same deficit-reduction strategy employed by previous governments that produced a run-up in debt in the 2010s.
  • When it comes to spending, deficits, and debt, the evidence clearly shows theres been no significant policy shift accompanying the change in government in Ontario.

Fraser Institute News Release: Canada’s debt ranking falls from best in the G7 to 5th worst of 29 advanced countries when total debt is measured

Retrieved on: 
Tuesday, June 1, 2021
Financial ratios, Finance, Economy, Money, Debt, Fiscal policy, Economy of the United States, Government debt, Canadian public debt, Debt of developing countries

Moreover, Canadas relative debt position falls further when total debt is measured instead of debt after adjusting for financial assets.

Key Points: 
  • Moreover, Canadas relative debt position falls further when total debt is measured instead of debt after adjusting for financial assets.
  • Net debt, which is the measure used by the federal government offsets a part of the countrys total debt by including financial assets.
  • Even within the narrower G7, Canada falls from first to fourth in its debt ranking when total debt rather than debt after financial assets are measured, commented Clemens.
  • No other country experiences as pronounced a change in its ranking when moving from a measure of total debt (gross) to debt after financial assets (net debt).

PaydayPERX Offers At-Work Flu Shot Program to Employers in USA

Retrieved on: 
Wednesday, May 26, 2021
Education, Articles, Medical specialties, Alternative education, Fiscal policy, School voucher, Influenza vaccine, Immunization, Influenza A virus subtype H1N1

Seeking to address the obvious need, PaydayPERX today announced rollout of their Flu Shot Program, with the capacity to deliver a flu shot program to any employer in the continental US.

Key Points: 
  • Seeking to address the obvious need, PaydayPERX today announced rollout of their Flu Shot Program, with the capacity to deliver a flu shot program to any employer in the continental US.
  • Employers will receive vouchers or if they have over 100 people onsite at any one location, an onsite flu shot clinic provided by a pharmacy retailer in their local area.
  • PaydayPERX tested the program in 2020 with over 5,000 employers reached, resulting in an estimated 320,000 employee immunizations across the US facilitated by employers in 2020 as part of the PaydayPERX program.
  • In this program, HR executives elect to receive flu shot vouchers, or if they meet minimum company size requirements, can schedule a pharmacy clinician to deliver immunizations on-premise.

Private-school vouchers boost college going, but not for students in greatest need

Retrieved on: 
Tuesday, May 18, 2021
Articles, Education, Education economics, Human activities, Alternative education, Fiscal policy, School voucher, Independent school, Racial achievement gap in the United States

b'Cambridge, Massachusetts, May 18, 2021 (GLOBE NEWSWIRE) -- For moderately disadvantaged students, using a voucher to attend a private school increases college-enrollment rates and four-year degree attainment.

Key Points: 
  • b'Cambridge, Massachusetts, May 18, 2021 (GLOBE NEWSWIRE) -- For moderately disadvantaged students, using a voucher to attend a private school increases college-enrollment rates and four-year degree attainment.
  • They compare college enrollment and degree attainment between disadvantaged African American and Hispanic American students who were offered a voucher and those who were not.
  • But a voucher offer has no significant effects for the most disadvantaged minority students, those from the lowest-income households or whose mothers have no post-high-school education.\nVoucher use has positive effects for moderately disadvantaged students.
  • Using a voucher to attend a private elementary school increases college enrollment by up to 30 percent and four-year degree attainment increases by nearly 70 percent.

BYD Buses, Trucks Eligible for $165 Million in HVIP Money

Retrieved on: 
Thursday, May 13, 2021
Public policy, Government, State, Local, Alternative energy, Energy, Other Policy Issues, Trucking, Public transport, Transport, Articles, Alternative education, Fiscal policy, School voucher, T, Human activities, Publications

b'BYD announced Tuesday that buyers of its line of American-made battery-electric transit buses, motor coaches, and heavy-duty trucks are eligible for $165 million in funds through the California Air Resources Board (CARB) Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).\nThis press release features multimedia.

Key Points: 
  • b'BYD announced Tuesday that buyers of its line of American-made battery-electric transit buses, motor coaches, and heavy-duty trucks are eligible for $165 million in funds through the California Air Resources Board (CARB) Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).\nThis press release features multimedia.
  • View the full release here: https://www.businesswire.com/news/home/20210513005769/en/\nHVIP will open to new voucher requests at 10 a.m. on Tuesday, June 8.
  • A total of approximately $165 million will be available; however, only half of the funds will be released to the public when the program opens.
  • We only select suppliers who share our commitment to just labor practices, human rights standards and the environment.\nFor more information, please visit https://en.byd.com/ or follow BYD on LinkedIn, Twitter, Facebook and YouTube.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210513005769/en/\n'

Penn Wharton Budget Model Projects President Biden's American Families Plan would spend $2.5 trillion and raise $1.3 trillion by 2031

Retrieved on: 
Wednesday, May 5, 2021
Tax, Government, Fiscal policy, Government debt, Internal Revenue Service, American Families Plan

b"PHILADELPHIA, May 5, 2021 /PRNewswire-PRWeb/ --On April 28, 2021, President Biden released the second phase of his administration's infrastructure plan, the American Families Plan (AFP).

Key Points: 
  • b"PHILADELPHIA, May 5, 2021 /PRNewswire-PRWeb/ --On April 28, 2021, President Biden released the second phase of his administration's infrastructure plan, the American Families Plan (AFP).
  • The AFP is a $1.8 trillion proposal focusing on federal investment in childcare, education, and healthcare.
  • The proposal includes new taxes on high-income households and provisions to expand the IRS's power and resources to enforce taxation.
  • The Penn Wharton Budget Model (PWBM) at the Wharton School of the University of Pennsylvania today released a report analyzing the budgetary and economic effects of the plan's changes to the tax code and $1.8 trillion in public investment.\nPresident Biden's AFP would spend $2.5 trillion over the 10-year budget window (2022-2031), about $700 billion more than the White House's estimate.\nThe AFP would raise $1.3 trillion in new tax revenue over the same period, including almost $480 billion in additional revenue from enhanced IRS tax collection enforcement.\nBy 2050, we estimate that the AFP would increase government debt by almost 5 percent and decrease GDP by 0.4 percent, as the effects from larger debt on the economy outweigh the productivity gains associated with the new spending programs.\n"