Positive growth for Canadian economy but risks exist: report

Conference Board of Canada warns that NAFTA success is crucial to its projections

Positive growth for Canadian economy but risks exist: reportThe Conference Board of Canada is painting a rosier picture for the Canadian economy this year. On Thursday, the board released a report saying the national economy will rise by two per cent in 2018. That’s 0.2 percentage points better than its previous forecast. But the report also said risks to the forecast are “substantial…

Building lasting stability in the western Canadian economy

My advice for Western Economic Diversification Canada as it builds a 10-year strategy for growth

Building lasting stability in the western Canadian economyWestern Economic Diversification Canada is working on a 10-year strategy to make the four western provinces competitive, innovative and inclusive, attracting business and investment and generating good jobs. To build the strategy, they’re seeking answers to the five questions below. Here are my thoughts on those questions: What does a stronger western Canadian economy look…

Sundial’s cannabis cultivating plant in Olds receives licence

The facility will have 140 individually-controlled cultivating rooms and the company will employ 500 people

Sundial’s cannabis cultivating plant in Olds receives licenceA cannabis cultivating plant in Olds has received its licence from Health Canada for the first phase of its 500,000-square-foot facility. “Receiving this licence is one of Sundial's most significant milestones to date and I am extremely proud of our team's commitment to develop and execute this important project,” said Torsten Kuenzlen, Sundial’s CEO. “We…

Stark contrast between U.S. energy boom, Canada’s lethargy

Canada’s energy sector is struggling primarily because of poor government policies. The U.S. shows a way out of this mess

Stark contrast between U.S. energy boom, Canada’s lethargyBy Elmira Aliakbari and Ashley Stedman The Fraser Institute Over the past few years, the governments of Canada and the United States have taken markedly different approaches to energy development, particularly with oil and gas. Consequently, the U.S. energy industry is booming while Canada’s continues to struggle despite increases in oil and natural gas prices.…

Recognizing the many faces of poverty in Canada

To have effective policies, we need clear, understandable indicators for the most important dimensions of poverty

Recognizing the many faces of poverty in CanadaThe federal government is to be congratulated on its just-released Poverty Reduction Strategy. The strategy, running to over 100 pages, endorses the idea of an official poverty line, relieving Statistics Canada from the impossible task of finding a purely statistical basis of definition. It further endorses the idea that poverty has many dimensions – including…

Canadian capital investment climate deteriorating, badly

Capital investment in Canada has slowed to a 40-year low, negatively affecting living standards for workers and overall economic growth

Canadian capital investment climate deteriorating, badlyThe growth rate of capital investment in Canada – particularly in the important areas of equipment, machinery and intellectual property – has slowed to a 40-year low, negatively affecting living standards for workers and overall economic growth, according to a study released on Thursday by the Fraser Institute, a national public policy think-tank. “The evidence…

Trans Mountain shoe is now firmly on Trudeau’s foot

As proud owners of this stinking mess, Trudeau and Morneau are going to find out first-hand the challenges the oil and gas industry has had to face over the years

Trans Mountain shoe is now firmly on Trudeau’s footAmerican author Robert Byrne once opined: “Until you’ve walked a mile in another man’s moccasins, you can’t imagine the smell.” It’s time to smell the roses on the Trans Mountain pipeline. The federal government is about to stumble 1,770 kilometres in the oil industry’s shoes over the Federal Court of Appeal’s decision to revoke approvals…

Immigration built this country and will ensure its future prosperity

To keep our economy buoyant, we must increase the number of consumers, workers and entrepreneurs

Immigration built this country and will ensure its future prosperityNobody wants a recession. We all want to maintain our level of living and maybe even improve it with better housing, holidays or health care. For this to happen, our gross national product (GNP), the total pile of goods and services Canada produces, has to grow. GNP is measured in dollars but it’s not about…

Higher oil prices lead to lower merchandise trade deficit

The surprise reduction in the trade deficit because of higher oil prices actually masked more negative news for the Canadian economy

Higher oil prices lead to lower merchandise trade deficitCanada's merchandise trade deficit with the world narrowed from $743 million in June to $114 million in July, the smallest deficit since the most recent surplus in December 2016, says Statistics Canada. The federal agency said on Wednesday that total exports rose 0.8 per cent, mainly on higher crude oil prices, while total imports declined…

Canada needs new data for a new economy

It’s time to focus on assessing skills in workforce development as we prepare for the inevitable job shift

Canada needs new data for a new economyWhen the federal Liberals took power in 2015, they made evidence a key priority in policy-making. Michael Barber, known for his groundbreaking work in “Deliverology,” the science of getting results, was brought in to advise key government decision-makers, and results and delivery units were created within federal departments. Across almost every ministry, there was a…

Canada needs fair but robust immigration policies

We must insist that immigrants don’t become a burden on the public purse, while finding a way to process them all expeditiously

Canada needs fair but robust immigration policiesEurope is tearing itself apart over immigration. There are just too many applicants for too few spots. Many of the people seeking to come to Europe are from war torn countries like Syria, or from failed states in Africa like Somalia and Libya. Some are genuine asylum seekers, who would be in great danger if…

LNG Canada a win for consumers, workers, business, environment

Canada has been late to fully capitalize on the potential, based on high export prices and the desperate demand for clean fuel

LNG Canada a win for consumers, workers, business, environmentCanada’s planned liquefied natural gas export project is a huge boost for the economy and the environment. The consortium of large multinational firms (Shell, PetroChina, Petronas of Malaysia, Korea Gas, Mitsubishi) that owns part of the LNG Canada project to be built on the northwest coast of British Columbia recently announced that contracts have been…

New immigrants becoming key entrepreneurs in Canada

The higher self-employment rate among immigrants is due in part to their inability to find a good job: StatsCan

New immigrants becoming key entrepreneurs in CanadaA report by Statistics Canada says recent research suggests that during new immigrants’ first few years of adjustment in Canada, their business ownership rates are below those of Canadian-born entrepreneurs, but after four to 10 years in Canada, the situation has reversed. The report, released on Thursday, said that in 2010, about 5.8 per cent…

Canadian economy grew in the second quarter

Second-quarter growth was mainly driven by a 2.9% increase in export volumes: StatsCan

Canadian economy grew in the second quarterCanadian real gross domestic product (GDP) growth accelerated to 0.7 per cent in the second quarter, following a 0.4 per cent gain in the first quarter, reported Statistics Canada on Thursday. “Growth was mainly driven by a 2.9 per cent increase in export volumes — the largest gain since the second quarter of 2014. Exports…

Canada needs to become more densely populated

We need a larger internal market that would create economies of scale and further economic productivity growth

Canada needs to become more densely populatedFormer prime minister William Lyon Mackenzie King once quipped, “If some countries have too much history, we have too much geography.” This has always been evidenced in Canada’s low national population density, estimated at about four people per square kilometre. Nevertheless, we’re still a highly urbanized country with more than 80 per cent of our…
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