Visuals: Economics and finance

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Infographics

Housing Supply and Demand

This figure illustrates the impact of proposals that increase housing supply and demand by comparing the equilibrium prices and quantities before and after the implementation of the proposals. Housing supply is represented graphically as an upward-sloping curve with price on the vertical axis and quantity on the horizontal axis, depicting the positive relationship between the price and the quantity supplied. Housing demand is represented graphically as a downward-sloping curve, depicting the negative relationship between the price and the quantity demanded. The equilibrium price and quantity are determined by the intersection of the housing supply and demand curves, i.e., the price and quantity at which the quantity supplied and the quantity demanded are equal. The figure shows that a rightward shift in supply reduces the price of a home by $50,000 from $500,000 to $450,000, and it increases the quantity of homes by 1,000 homes, from 10,000 to 11,000 homes. A rightward shift in demand increases the price of a home by $50,000, from $500,000 to $550,000, and it increases the quantity of homes by 1,000 homes, from 10,000 to 11,000 homes. The figure also presents the main determinants of housing supply and demand between the illustration of a potential buyer and a home. The main determinants of housing supply are land and construction costs, geographical constraints such as oceans and mountains, and municipal land-use planning restrictions. The main determinants of demand are the buyers’ borrowing capacity, buyers’ income, employment, population growth and tax measures that increase the after-tax return of homeownership compared to other investments.
Read the HillNote: A Supply-and-Demand Perspective on Housing Affordability (2022)

 

Types of Digital Ledgers

There are three types of digital ledgers: a centralized ledger, a public distributed ledger and a private distributed ledger. A centralized ledger is accessed by authorized users through a trusted central party, who can make any necessary changes to the ledger. Users cannot interact directly with each other. Examples include a bank chequing account and a government land title registry. With public and private distributed ledgers, there is no trusted central party and instead all users have a real-time copy of the entire ledger. Users can interact directly with each other. A public distributed ledger is open to the public and any user on the ledger's network can make changes to the ledger. Examples include Bitcoin and Ethereum. A private distributed ledger is restricted to authorized users and only certain users on the ledger's network can make changes to the ledger. A private distributed ledger could be used by a government organization to replace a centralized ledger.
Read the HillNote: Beyond Digital Currencies: Blockchain in the Public Sector (2019)

 

Current and possible carbon pricing systems in Canada

Canada’s current federal carbon pricing system has two elements. The first is a fuel charge that is paid by consumers at the point when the fuel is used. The second is an output-based pricing system for industrial emitters. Facilities are measured against an emissions benchmark. Facilities pay for emissions above the benchmark and earn credits for emitting less than the benchmark. It is possible that Canada will adopt an additional system, called border carbon adjustments (BCAs). A BCA is a fee that would be charged on imported goods from countries that have less stringent climate change policies than Canada. A BCA helps set a level price for emissions, no matter where the good was made.

Read the HillNote: Border Carbon Adjustments (2021)

 

Process for Approving New Government Initiatives

The infographic outlines the approval process for new government initiatives in the following ten steps. Step 1: The government proposes an initiative. Step 2: Central agencies help the department responsible for the initiative to prepare a Memorandum to Cabinet. Step 3: A Cabinet policy committee reviews the Memorandum to Cabinet and issues a recommendation. Step 4: The department prepares a Treasury Board submission. Step 5: The Treasury Board reviews the submission and makes a decision. Step 6: The next round of estimates includes a request for funding for the new initiative. Step 7: The president of the Treasury Board tables the estimates in the House of Commons and presents a corresponding supply bill. Step 8: Parliament studies and adopts the supply bill. Step 9: The department can spend public funds. Step 10: The department’s actual spending is reported in the Public Accounts of Canada.

Read the HillStudy: Funding New Government Initiatives: From Announcement to Money Allocation (2021)

 

The Parliamentary Financial Cycle

This figure shows the timeline of the parliamentary financial cycle. Starting from the bottom and moving to the top, the figure is divided into three sections in the parliamentary financial cycle: Before the fiscal year, During the fiscal year (1 April to 31 March), and After the fiscal year. The first section, Before the fiscal year, includes the following milestones: September – Finance Committee pre-budget consultations December – Finance Committee report Between February and April – Budget March – Main Estimates, Departmental plans, Interim supply The second section, During the fiscal year (1 April to 31 March), includes the following milestones: May – Supplementary Estimates (A) June – Approval of full supply/End of supply period October – Economic and fiscal update November – Supplementary Estimates (B) December – End of supply period February – Supplementary Estimates (C) March – End of supply period The third section, After the fiscal year, includes the following milestones October – Public Accounts of Canada November – Departmental results reports

Read the HillStudy: The Parliamentary Financial Cycle (2021)

 

Graphs and charts

Top 10 Assessed Contributions to the United Nations Regular Budget and Their Assessed Contributions, 2020

This table shows the top ten assessed contributors to the UN’s 2020 regular budget and their assessed contributions as a percentage of the overall budget. They are, in order, from highest to lowest: the United States (22.0%), China (12.0%), Japan (8.6%), Germany (6.1%), United Kingdom (4.6%), France (4.4%), Italy (3.3%), Brazil (2.9%), Canada (2.7%), Russia (2.4%), followed by the rest of membership (31.0%). The bottom of the table notes that the total estimated gross contributions to the UN regular budget in 2020 are US$3.1 billion.

Read the HillNote: The United Nations at 75: “Imperfect but indispensable”? (2020)

 

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