Ontario will see its budget deficit rise this fiscal year as the economy slows and the government increases spending to help lower-income workers ahead of a June election.
https://www.bnn.ca/1.1758268.1651180079
Musings, opinions and views on various topics, issues, news and sometimes taking the other side of the argument
Ontario will see its budget deficit rise this fiscal year as the economy slows and the government increases spending to help lower-income workers ahead of a June election.
https://www.bnn.ca/1.1758268.1651180079
"...While I agree that Trudeau was lucky to have avoided a fraud charge over the Aga Khan affair, he should also count himself lucky for having survived for this long in Canadian politics. Other prime ministers likely wouldn’t have...."
https://nationalpost.com/opinion/michael-taube-trudeau-may-have-avoided-an-rcmp-fraud-charge-but-conservatives-should-not-let-him-off-the-hook
US/Nasdaq have been a sh!t show vs Canada. For context TSX is actually up 8% on the year (some weakness recently), Dow/S&P500/Nasdaq flat to down 8%. Thank you boring Canadian oil&gas, telecomms (that own Leafs, Habs), mining companies. Investors finally waking up as to why all these BS companies like Netflix, Fakebook, Uber, Amazon, Shopify all trading at insane OVERvaluations, magnitudes worse than a Yorkville condo. C$ is down though roughly around the time of last interest rate announcement since our wonderful BoC governor Tiff admits "oh I may have underestimated inflation over the last year ", down from $0.80 to $0.78 in about 10 days - a HUGE move if you're a foreign exchange trader. Not to mention US, Mexico vacations more expensive. If any more weakness, go defensive, not buying anything American as our C$ is/will be weakening and loading up on these boring ETFs: ZWU (basket of Canadian utilities, pays 7.2% dividend), ZWC (a group of diversified Canadian dividend payers, paying around 7%), ZWB (a group of Canadian banks paying around 5.3% dividend). No exchange rate worries (from a two party spend spend spend government). You can buy these for about 0.55% management fees and a $9.95 trading cost in your online account rather than going to an advisor or mutual fund and they charge you 2%. You're way more liquid and can hit the sell button anytime for another $9.95 fee. Not bad places to "park".
Your transparent, sunny ways Liberal at it again. They have managed to sweep under the rug for more than two years how two scientists suspiciously and coincidentally leading up to the covid pandemic, scientists Xiangguo Qiu and her husband, Keding Cheng, why were they escorted out of Winnipeg’s National Microbiology Laboratory in July 2019 and subsequently fired in January 2021 as well related transfer, overseen by Qiu, of deadly Ebola and Henipah viruses to China’s Wuhan Institute of Virology in March 2019. How are Canadians not questioning this after the two years we've had ?!?!
"...Government House leader Mark Holland said Wednesday the NDP has agreed to the idea, and he hopes the Tories and Bloc Quebecois will also participate.
Members of the committee will be able to see unredacted documents, but an independent panel of three former judges, to be jointly chosen by the parties, will have final say on what material can be made public without jeopardizing national security..."
https://nationalpost.com/news/politics/liberals-plan-committee-to-review-secret-lab-documents-with-or-without-tories-2
Auditor General Kare Hogan calls out incompetence at the federal NDPLiberal level citing transition of workers from coal, oil and gas to a "just" and "green" low carbon economy. (Where have I heard that word "just" before when describing a society? Oh yeah, Trudeau père)
"...That’s the conclusion of the federal auditor general, who finds that bureaucrats sat on their fat portfolios even as coal workers were losing their jobs.
Coal mining is itself the canary down a dangerous mine shaft.
There are only about 331 coal miners left in Alberta, down from more than 1,100 in 2017.
If Ottawa can’t manage transition for that group, how will it deal with the thousands who are expected to leave oil and gas, as well as agriculture and even forestry, because of federal emissions policy?
Maybe Alberta will look like Newfoundland and Labrador after the federal shutdown of the cod fishery in 1992-93..."
http://nationalpost.com/opinion/columnists/braid-the-hapless-hypocrisy-of-liberal-just-transition-for-energy-workers/wcm/b1ba884b-599f-4128-9d52-d0397722fa81
"...The University of Waterloo has restricted hiring for at least three top-tier research positions to certain demographic groups, in two instances excluding applications from all cisgender men — whether they are white or people of colour — and in another refusing applications from anyone who doesn’t identify as Indigenous.
The restrictions are aimed at addressing a lack of diversity among Canada Research Chairs — 2,285 prestigious positions funded by the federal government and based at postsecondary institutions across the country.
But some argue excluding people from the hiring process is not the best way to eliminate discrimination..."
https://nationalpost.com/news/canada/waterloo
If true, the take-all-powers NDPLiberals may have just accidentally given affordable housing the most positive initiative to date! If this gets out among the unrestricted international/foreign buyers, then what does that mean? Will they take their Canadian assets, cash somewhere else as well as sell their Canadian real estate for more than tidy profits at the same time? Canadians may simply think that rich, international buyers are here only because they have the money and can afford whatever they want. WRONG! Canadians have misunderstood one of the main reasons foreigners buy real estate in Canada - unlike in some (not all) their home countries, there is security of law and title in Canada. Well, maybe that won't be the case going forward due to NDPLiberal greed for more and more power and in the absence of any meaningful military contributions to Ukraine. Combined with rising interest rates, stay tuned for the next housing market report!
On the last day required for the NDPLiberal government to announce the inquiry they reluctantly did
https://nationalpost.com/news/politics/trudeau-announces-emergencies-act-inquiry-headed-by-judge
Four seasons in Canada: summer, autumn, winter and illegal border crossing
"...It hasn’t gotten much attention outside Quebec, but Roxham Road seems to be well and truly back in business. RCMP patrolling the border in Quebec recorded more than 4,500 “asylum claims and interceptions” in the first two months of this year, CBC Montreal reported recently, which is more more than in any previously recorded two months. As of the end of December, according to Immigration and Refugee Board statistics, even after two years of very few new arrivals, there was a backlog of more than 11,500 refugee claims solely among those who crossed the border “irregularly” — the vast majority of whom came across that well-worn path from New York State...."
https://nationalpost.com/opinion/chris-selley-roxham-road-is-back-in-business-and-canada-is-already-out-of-ideas
https://nationalpost.com/opinion/geoff-russ-ekos-boss-frank-graves-ill-advised-threat-to-keep-pierre-poilievre-from-winning
"...All in, this is not the best week, or the best year, for those who have waltzed around and through the Charter of Rights and Freedoms, to be Twitter-singing its praises. They would be better off trying to explain why they worship the document when it suits them, and ignore it when it doesn’t...."
https://nationalpost.com/opinion/rex-murphy-you-could-drive-an-18-wheeler-through-our-charter-of-rights-and-freedoms
Why is every NDPLiberal initiative centered around immigration? No matter the unemployment level or economic times, according to the NDPLiberals, Canada never seems to have enough skilled workers, tech workers, temporary workers, etc. Hussen even once claimed Canada needs more "low skilled workers"!! Where is the chronic mismatch - is the Ministry of Immigration, Refugees, Canadian Citizenshop broken? (Likely). Is it our colleges, universities that have not identified employment trends? As a western country we have among the best education systems in the world. How is it possible that so many Canadians are so chronicly under skilled or lack the skills of the current western economy that Canada needs to go outside its borders by the hundreds of thousands every year?
Now with a housing crisis, fed in part by immigration (in addition to low rates, etc), NDPLiberals are turning to immigration to fix construction of housing. Huh?
Canada’s housing minister has a daunting target in front of him as his government tries to rein in skyrocketing housing prices: doubling the pace of housing construction in the country within 10 years.
https://www.bnn.ca/1.1752782.1650279955
Cricket infrastructure, visa offices in Nepal, Tamil Apologies.
https://nationalpost.com/news/politics/an-inside-look-at-patrick-browns-pitch-for-selling-conservative-party-memberships
"..There was a time when vote-buying was done with a modest degree of nuance. The government of the day might pledge a tax cut or a baby bonus or a subsidy you could get if you filled in the right form. No longer: now they just stick a cheque in the mail and fire it off to the population at large. Vote for us and you get money! No questions asked...."
https://nationalpost.com/opinion/kelly-mcparland-canadian-vote-buying-is-becoming-increasingly-shameless
For such a relied upon, quoted, historically significant, politically incomplete and sometimes mistreated document, Canadians do not fully recognize (nor celebrate) their Constitution.
"...The Constitution Act, 1982, which contains the charter, isn’t on display anywhere. Even the British North America Act, the foundational document that is now called the Constitution Act, 1867, isn’t on display — it’s not even in Canada.
“There are a whole slew of documents, ranging from the Hudson’s Bay Company Charter to the 1763 Proclamation to the ‘numbered treaties’ of the 1870s, that have never been displayed in Canada, and it’s a real shame,” said Patrice Dutil, a fellow at the Macdonald-Laurier Institute..."
https://nationalpost.com/news/canada/why-you-cant-go-see-the-charter-of-rights-and-freedoms-in-a-museum-or-anywhere-else
NDPLiberals, even Canada Revenue Agency, defining what a "media organization" is.
"...it is not necessary for other journalists or news organizations to agree with Rebel News, to admire or esteem its style or approach, in order to come to its defence, when the very principle of a free press is being invaded by the national government? A genuine free press does not depend on taste, nor is it contingent on one’s views about a competitor..."
https://nationalpost.com/opinion/rex-murphy-what-right-does-the-government-have-to-judge-rebel-news
The Liberals came into power promising to end the use of omnibus bills, which they said were used “to prevent Parliament from properly reviewing and debating” matters, calling it "undemocratic."
Last year, the government amended the rules of the House of Commons to allow the speaker to split up omnibus bills for votes when there isn’t a common thread through various parts. This was meant to exclude budget bills, however on the government’s last budget bill, Speaker Geoff Regan found it to be omnibus, and allowed it to be divided up on the opposition’s request.
https://betterdwelling.com/canadian-real-estate-buyers-are-facing-the-highest-mortgage-rates-in-a-decade/?_gl=1*1i493yk*_ga*QXpIWFhNSlBSM29IaUxCc29iazVrdFU4em9LR1JZRUVVQldRbl9XbS1Ed0VRU3FCbXdKYTVwdU82cTdyb3Zkcw..
“The cost of the Liberal government’s failure is always paid by Canadians, and this is one more example of how Canadians can’t afford more of the same from this NDP-Liberal coalition government.”
The Spartan Bioscience loss is one of three COVID-19 advance payments worth a total of $105 million that PHAC wrote off in 2021.
https://nationalpost.com/news/politics/federal-government-lost-20-million-in-pre-payments-for-ottawa-based-spartan-biomedical-covid-19-test-that-never-worked-as-promised
"...In keeping with its past preference for tax credits, and as Trudeau’s Liberals advertised in their election platform, the budget includes a non-cash, new “Critical Mineral Exploration Tax Credit.”
The measure would allow mining companies to claim up to 30 per cent of specified exploration expenses related to critical minerals as a tax credit; or to be claimed as a flow-through share agreement, in which such tax credits are passed on to investors. That would last until March 2027.
The budget adds that the tax credit would help enhance Canada’s capital markets, perhaps setting up Toronto to take a leading role in global mining finance...."
https://financialpost.com/commodities/energy/how-trudeau-proposes-to-make-canada-a-key-supplier-of-critical-minerals
https://financialpost.com/real-estate/mortgages/faster-rate-hikes-cooling-home-prices-squeeze-heloc-holders
Bay Street could be about to learn its fate in Canada’s halls of power.
https://www.bnn.ca/1.1748558.1649276855
Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’s on its own in tackling inflation when she introduces a budget Thursday that’s expected to be full of new spending initiatives.
https://www.bnn.ca/1.1748469.1649275720
https://financialpost.com/commodities/agriculture/trudeau-expands-cash-advances-for-farmers-as-spring-planting-costs-surge
https://financialpost.com/news/economy/the-real-problem-behind-canadas-out-of-control-housing-market
Liberals drive away pipeline investment, yet now want to magically pump even more oil in light of Russia oil sanctions; Liberals want to increase carbon taxes annually to "change our behaviours" even though oil price is at near all time highs - changing our behaviours; Liberals want to reduce (enforce?) Emission reductions over one entire oil and gas industry yet approves another oil project...
https://financialpost.com/commodities/energy/oil-gas/ottawa-approves-equinors-us12-billion-offshore-oil-project
https://nationalpost.com/news/politics/it-would-be-better-just-to-be-honest-with-us-guilbeault-grilled-over-bay-du-nord
"...NDP Leader Jagmeet Singh should have pushed for a formal coalition with the Liberals. He could have been finance minister and taken full credit for Thursday’s budget, which, if he didn’t write it, is certainly being written to appease him.
The budget is expected to include a whole slate of costly and expansive NDP priorities that will combine with the Liberals’ own pricey policies to create not just big government, but mammoth government: a government that is not just big in terms of how much it spends, but in its ambition to federalize every area of Canadian life..."
https://nationalpost.com/opinion/carson-jerema-buckle-up-for-the-jagmeet-singh-budget
https://nationalpost.com/news/former-unifor-boss-jerry-dias-under-police-investigation
"...Ownership of real estate in Canada is also difficult to pin down. Property can be held by a private corporate entity, including one outside the country, and there is limited visibility into “the ultimate control persons” due to a lack of disclosure requirements, according to Caylor of Bennett Jones..."
https://financialpost.com/fp-finance/hunt-for-oligarch-assets-adds-new-urgency-to-canadas-plan-for-beneficial-ownership-registry
With 6.5% unemployment in January (almost double the USA) and +411,000 permanent residents arriving in 2023 this is the answer ? More absurdly, advocating "temporary" foreigner workers to have "permanent" resident status?
"...The federal government will also remove a restriction that forbids employers in regions where the jobless rate is higher than six per cent from using TFWs in retail and food service.
Before the pandemic, employers had to fill out paperwork every six months to show they couldn’t find domestic workers to fill the jobs. During the pandemic, the rule was relaxed to nine months. Now, those applications will only need to be completed every 18 months..."
https://financialpost.com/news/economy/ottawa-loosens-restrictions-on-temporary-foreign-workers-to-help-employers-with-labour-shortages
"...And the cost? Like everyone else, France runs on debt and deficits. If you’re on the left you probably don’t care much, if you’re on the right you probably wake up wondering when the reckoning will come. In general revenue terms, the Tax Foundation, using figures from the Organization for Economic Competition and Development, places the French tax system 35th out of 36 countries in terms of its competitiveness, attraction for investors and impact on workers and businesses.
Canada ranks 20th on the same list. Comparing the two, Canada ranks much higher in individual taxes (mainly income taxes), drawing 36 per cent of its revenue compared with 21 per cent in France. In turn, the French pay much higher amounts in “social insurance” charges — 32 per cent of revenue against 14 per cent in Canada.
In other words, French taxpayers fork over considerably less as general income tax, but make up for it with charges dedicated directly to programs for unemployment insurance, pension plans, health coverage, dental, drugs, daycare etc..."
https://nationalpost.com/opinion/kelly-mcparland-liberals-take-note-when-benefits-become-rights-its-hard-to-make-people-pay
https://nationalpost.com/opinion/patrice-dutil-canadians-refuse-to-let-sir-john-a-macdonald-be-cancelled
What the...? Canada is among, if not the largest, most knowledgeable, most compliant mining industries in the world with thousands of companies formed here, raising billions of capital domestically from individual investors to institutional funds and banks and employing tens of thousands of educated and skilled people. What could the NDPLiberals possibly discover or prove about "mineral strategies" for $2 billion?
https://nationalpost.com/news/politics/canada-to-spend-2b-on-mineral-strategy-for-ev-battery-supply-chain
https://nationalpost.com/news/canada/the-unintended-consequences-of-the-trudeau-government-banning-gas-powered-cars-by-2035
https://nationalpost.com/opinion/conrad-black-the-liberal-ndp-conveyor-belt-to-socialist-oblivion
"...You can expect a different course in the April 7th federal budget, however. The federal government will ramp up spending and deficits with these new conditional grant programs. Inflationary spending will force the Bank of Canada to raise interest rates. And then, down the line, voter anger with faltering federal economic policies will make the next election about fixing the federal government..."
https://financialpost.com/opinion/jack-m-mintz-the-budget-we-could-have-but-likely-wont
https://nationalpost.com/news/world/meng-wanzhou-named-deputy-chairwoman-of-huawei-technologies
"...The Liberals are either governing in a fantasy universe or they are being deliberately reckless. How else do you explain that, in the same week our European allies were preparing to ration energy, being held hostage as they are by a murderous tyrant wreaking havoc in Ukraine, our government announced a dramatic acceleration of its plan to hobble the oil and gas industry?
Germany was foolish to phase out nuclear power and coal, especially as quickly as it had planned, leaving it at the mercy of unreliable wind energy and natural gas imports from Russia. Prime Minister Justin Trudeau and Environment Minister Steven Guilbeault refuse to learn any lessons from recent events. They’ve ignored the reality that our allies phasing out fossil fuels has done little to move their economies to green energy, and instead, Europe has helped fuel Russian President Vladimir Putin’s monstrous invasion of Ukraine. Given this self-imposed dependence, enacting a full oil and gas embargo on Russia is close to impossible..."
politicians have no business telling companies what to do with their profits. Increased corporate revenues also mean increased tax revenues. If the federal government wants to use the extra revenue it gains from the oil and gas sector during a boom period, then it is free to do so. What’s more, the federal government’s carbon tax increased to $50 per tonne on Friday and will eventually reach $170.
This is the government that cancelled Northern Gateway and introduced cumbersome regulations that encouraged the cancellation of the Energy East pipeline. It is the government that made the approval process for any energy project one of endless consultation and politicization. And, of course, it is this government that brought in the carbon tax.
Ontario carmakers, on the other hand, will be fine, as they will be able to produce government-mandated electric vehicles. It won’t matter whether they are economical to produce or to buy and maintain. Canadian consumers won’t have a choice
https://nationalpost.com/opinion/np-view-the-liberal-plan-to-smother-the-energy-industry