The Toronto branch of the Canadian International Council and the Literary Review of Canada, present
The Economist correspondent, and author of the CIC Report, The 9 Habits of Successful Resource Economies
January 8, 2013 | 7pm
The Gardiner Museum, 111 Queen’s Park Circle
$15 for members and students / $20 for non-members
For tickets go to drohan.eventbrite.ca.
As much of the world has struggled economically since the crisis of 2008, Canada has prided itself on prudent fiscal management. We’ve touted our record around the world, and wagged our fingers at other governments.
Yet in at least one area, we’re spendthrifts: Canadian governments have largely balked at saving the tax and royalty windfalls brought in by developing non-renewable resources. Around the world, countries from wealthy, developed Norway, to struggling, underdeveloped Timor Leste have seen the wisdom of putting at least some non-renewable resource revenue into a sovereign fund. But while Norway had $617 billion in its
sovereign fund as of mid-August, Alberta had set aside just $16.1 billion as of mid-March. Other provincial governments have no fund at all, despite substantial oil, gas and mineral revenues right across the country.
Ms. Drohan is currently on a CIC national speaking tour for the 9 Habits Report, a copy of which will be available for all attendees. This is her