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Macdonald-Laurier Institute

When you’re in a hole…stop digging!

October 28, 2010
in Columns, Domestic Policy Program, Economic policy, In the Media
Reading Time: 1 min read
A A

William Watson, writes on tax policy in today’s Financial Post. The MLI Research Advisory Board member, commenting on a recent paper by Harvard’s Martin Feldstein, advises governments to stop digging into debt by trimming tax expenditures. Just in case the message is too subtle, he also cites one of Preston Manning’s more memorable lines:

Feldstein’s first proposal for cutting the deficit is to stop digging, which brings to a Canadian reader’s mind Preston Manning’s 1990s watchword that the first thing you do when in a hole is stop digging.

Good advice for governments of all stripes. We would only add that all Canada’s finance ministers should also read Canadian Century.

Read the entire Watson column here…

Posted by GY

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  • Home
  • About
    • Who We Are
    • Who Makes MLI Work
    • Tenth Anniversary
    • Jobs
  • Experts
    • Experts Directory
    • In Memoriam
  • Issues
    • Domestic Policy Program
      • Agriculture and Agri-Food
      • Canada’s Political Tradition
      • Economic policy
      • Energy
      • Health Care
      • Innovation
      • Justice
      • Social issues
      • Telecoms
    • Foreign Policy Program
      • Foreign Affairs
      • National Defence
      • National Security
    • Indigenous Affairs Program
  • Projects
    • COVID and after: A mandate for recovery
    • COVID Misery Index
      • Beyond Lockdown
    • Provincial COVID Misery Index
    • Centre for Advancing Canada’s Interests Abroad
      • Dragon at the Door
      • The Eavesdropping Dragon: Huawei
    • An Intellectual Property Strategy for Canada
    • Speak for Ourselves
    • Canada and the Indo-Pacific Initiative
    • DisInfoWatch.org
    • The Transatlantic Program
    • Indigenous Prosperity at a Crossroads
      • Aboriginal Canada and Natural Resources
    • Talkin’ in the Free World with Mariam Memarsadeghi
    • Past Projects
      • Justice Report Card
      • Munk Senior Fellows
      • A Mandate for Canada
      • Confederation Series
      • Fiscal Reform
      • The Canadian Century project
      • Fixing Canadian health care
      • Internal trade
      • From a mandate for change
      • Size of government in Canada
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© 2021 Macdonald-Laurier Institute. All Rights reserved.

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