The Liberals won the two Toronto-area by-elections last night, but with far less comfortable margins than before. While Marci Ien won Toronto Centre, Green Party leader Annamie Paul came in a not-too-distant second place, which was a surprise showing for her considering she was a far-distant fourth in the previous election. In York Centre, Liberal Ya’ara Saks pulled ahead at the very end, but it was a constant dance with the Conservatives most of the evening, and very close (and close enough there may yet be a recount). While it’s not good to read too much into by-elections, one supposes that this should be a bit of a warning to Justin Trudeau about going to a snap election, given how close it was. There should also be a warning for Trudeau in here about engaging his own party membership – one suspects that there are a lot of angry Liberals who are incredibly unhappy about the way that Trudeau short-circuited the nomination process and simply appointed candidates in both ridings, cutting out the grassroots membership to the detriment of democracy as a whole. Erin O’Toole will crow that he made progress in the GTA with nearly winning York Centre (though the Conservative candidate was almost a non-entity in Toronto Centre), though Maxime Bernier’s entry into the race in that riding ostensibly took enough votes away from O’Toole to lose the race. Hopefully O’Toole won’t take that as a cue to go even more extreme to try to attract those voters.
Fiscal anchor
At a talk for the Canadian Chamber of Commerce, prime minister Justin Trudeau said that the government wouldn’t be setting a new fiscal anchor while the pandemic was still ongoing – but that there would soon be a “robust” fiscal update presented. This immediately gave the whole it’s-1995-and-will-always-be-1995 crowd the vapours, but there is credible economic thought that this isn’t the time for a fiscal anchor because it would simply be a signal to cut spending at a time when that spending is building resilience into the economy and is giving us a leg-up on recovery over other countries. Erin O’Toole followed up and handwaved that if his party was in charge, they would have done everything better, offering no evidence to that end.
https://twitter.com/LindsayTedds/status/1320794340747194369
In a live and on-going crisis, when you don't yet know the full scale, extent or duration of the real-world costs, why would gov't say "we'll intervene, but only up to $X fiscal cost"? That's akin to saying "after the costs of the crisis reach our threshold rule, we peace-out" pic.twitter.com/WK8QkiunKR
— Dr. J Robson (@JenniferRobson8) October 26, 2020
Some fans of a fiscal anchor *now* might hope that it would focus the attention of policymakers, stop them from pursuing non-pandemic spending on pet projects. Let me just say that if the soaring case rates don't yet have their attention, then a fiscal anchor ain't an answer. pic.twitter.com/mbdEmVICMM
— Dr. J Robson (@JenniferRobson8) October 26, 2020
Why wouldn't they be willing to amortize some of the fiscal costs of mitigating and managing those social/economic/private costs *IF* the money is used to ensure they have a brighter future than will be the case if we peace-out early 'cuz fiscal rule?
— Dr. J Robson (@JenniferRobson8) October 26, 2020