“Inevitable” recession will seriously derail federal finances

The government must apply the brakes on spending in the spring budget and focus on deficit reduction

“Inevitable” recession will seriously derail federal financesBy Jake Fuss, Milagros Palacios and Jason Clemens The Fraser Institute Fiscal prudence – the ability of the government to balance its budget and manage the finances of the country responsibly – is an increasing concern for Canadians. According to a recent Nanos poll, a majority of Canadians favour balancing the federal budget more than…

Why Canadians are suffering a bankruptcy spike

Interest rate hikes, housing costs, rising taxes and stagnating wages are all crucial. We need to address these problems

Why Canadians are suffering a bankruptcy spikeWhat can't happen won't happen. If incomes are stagnant while taxes, prices and interest rates rise, people will fail to pay their debts – as is the case for 120,000 Canadians every year. The long-term buildup of urban house prices had already made people financially vulnerable and consumer insolvencies in Canada increased by 9.2 per…

Why economists can’t endorse minimum wage hikes

Economists believe that raising the price of low-skilled labour just eliminates many of those jobs

Why economists can’t endorse minimum wage hikesRaising the minimum wage is a popular policy among voters. But economists dispute the value of such a raise. Why the discrepancy? Recent polls from Ontario found strong support for the province’s minimum wage hike. And in the United States, a Pew Research poll in 2016 showed that by a margin of 52 per cent…

Conference Board concurs: Business confidence plummeting

Businesses cited weak market demand, high interest rates and a shortage of qualified staff as factors holding back investment

Conference Board concurs: Business confidence plummetingThe business confidence of Canadian executives continues its downward spiral that began at the end of 2017 and is now at its lowest point in three years, according to the Conference Board of Canada. On Friday, the board released its Index of Business Confidence. It summarizes the views of business executives in Canada on the…

Pessimism about national economy grows among business leaders

CPA Canada survey found concern about numerous external risks facing the economy

Pessimism about national economy grows among business leadersA new survey by the Chartered Professional Accountants of Canada says pessimism about the prospects of the national economy over the next 12 months is growing among Canadian business leaders. The CPA Canada Business Monitor found that pessimism among the professional accountants jumped to 35 per cent in the fourth quarter of last year, which…

Canadian economy edges down in November

Conventional oil and gas extraction was down 2.2% as both crude petroleum and natural gas activity decreased

Canadian economy edges down in NovemberReal gross domestic product in Canada edged down 0.1 per cent in November, partly offsetting an increase of 0.3 per cent in October, reported Statistics Canada on Thursday. “Decreases in wholesale trade, finance and insurance, manufacturing and construction more than offset gains in 13 of 20 industrial sectors. Goods-producing industries were down 0.3 per cent,…

Gathering forces hope to form a unified pro-LNG front

Group’s focus is on what LNG means to the Canadian economy and to the overarching national interest

Gathering forces hope to form a unified pro-LNG frontIt may seem like an impossible challenge to crowdsource a narrative about building a better future for Canadians and their energy sector. A diverse group has set out to create a compelling and co-ordinated narrative around Canada’s global liquefied natural gas (LNG) opportunities. At a recent Calgary meeting, a diverse group of stakeholders agreed it’s critical to…

Federal spending dangerously near record Canadian levels

Increasing the size and role of government almost always comes with larger deficits, mounting debt and/or tax increases

Federal spending dangerously near record Canadian levelsBy Jake Fuss, Milagros Palacios and Jason Clemens The Fraser Institute Fiscal prudence is a key aspect of any prime minister’s legacy. The choice to increase the size and role of government almost always comes with larger deficits, mounting debt and/or tax increases. Unfortunately, the federal government under Prime Minister Justin Trudeau has ignored these…

Oil and gas the backbone of the Canadian economy

Oil and gas contributed some $117 billion to Canada’s GDP last year, six times the economic contribution of the Ontario auto industry

Oil and gas the backbone of the Canadian economyWhat was Canada’s biggest business news story of 2018? According to the pundits at The Canadian Press, it wasn’t the giveaway of Canadian oil to Americans for tens of billions of dollars below world prices, caused by a lack of pipelines from Alberta. It wasn’t the loss of tens of billions more in oil and…

Canadian natural resource sector economic activity on the rise

The mineral and mining subsector drove the increase, led by potash

Canadian natural resource sector economic activity on the riseThe natural resource sector, including energy, saw the volume of economic activity grow in the third quarter of 2018, according to Statistics Canada. The federal agency reported Thursday that real gross domestic product in the natural resource sector rose by one per cent in the quarter following a 1.4 per cent increase in the second…

Despite government subsidies, Canadian innovation wanes

Burdensome regulation, limited competition and unfavourable taxes hold Canadian companies back

Despite government subsidies, Canadian innovation wanesStudies show that innovation is the driving force behind long-run increases in incomes in developed countries. But Canada is falling behind. The implementation and adoption of new methods of producing goods and services, along with the introduction and use of new products and new ways of organizing businesses, remain critical to improving living standards. Canada’s…

Canadian home sales plunge in December

The average MLS sale price of $496,696 was down 4.9% in the final two months of 2018

Canadian home sales plunge in December(Troy Media) Canadian MLS sales fell by 2.5 per cent in December from November, capping the weakest annual sales since 2012, says the Canadian Real Estate Association. According to its monthly MLS report, which was released on Tuesday, CREA said monthly declines in activity since September have fully retrenched its summer rally and returned it near…

Bull market for Canadian commercial real estate continues

Avison Young report said Canada's office sector remained sound in 2018, though softness persisted in Alberta

Bull market for Canadian commercial real estate continues(Troy Media) The 10-year bull market in the Canadian commercial real estate sector continued in 2018, supported by the lowest unemployment rate in at least four decades, says Avison Young's 2019 North America, Europe and Asia Commercial Real Estate Forecast, which was released on Tuesday. “Strong performances in 2017 and 2018 have led to supply…

Report says oil prices expected to rise

Prices will improve because of increased demand from U.S. refineries, improving transportation capacity and mandatory productions cuts in Alberta

Report says oil prices expected to riseThe oilpatch in Alberta has had a tough go of it since oil prices collapsed in the latter part of 2014. But on Tuesday there was some good news from a new report released by Deloitte’s Resource and Advisory Group. It forecasts prices for Canadian heavy and light oil to improve somewhat in 2019 because…

Canadian merchandise trade deficit balloons to $2.1 billion

Exports fell almost 3% in November, mainly as a result of lower crude oil deliveries

Canadian merchandise trade deficit balloons to $2.1 billionCanada’s merchandise trade deficit with the rest of the world widened from $851 million in October to $2.1 billion in November, according to data released on Tuesday by Statistics Canada. The federal agency said that was due to exports falling by 2.9 per cent in November, mainly on lower crude oil exports, while imports decreased…
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