Living paycheque-to-paycheque: ‘Canadians are under stress,’ warns Equifax

As Canadians deal with a crushing housing shortage(opens in a new tab), high rental prices and inflationary price pressures(opens in a new tab), now Equifax Canada is warning that Canadian consumers are increasingly “under stress” from the surging cost of living.

“Our data says about 50 per cent of Canadians are living paycheque-to-paycheque(opens in a new tab),” Sue Hutchinson, the president of Equifax Canada, told CTV News Channel on Tuesday.

The Liberals have already announced a bevy of measures to help put a dent in Canada’s housing crisis, with Prime Minister Justin Trudeau(opens in a new tab) pledging to “meet the moment” as younger generations increasingly feel “middle-class stability” is out of reach.

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Trudeau’s utterly daunting promise to immediately build an Alberta’s worth of new homes

As part of a routine rollout of pre-budget announcements, last week the Trudeau government casually announced that it was going to solve the housing crisis.

In a Friday press release headlined simply “Canada’s Housing Plan,” the Prime Minister’s Office laid out a plan to “unlock 3.87 million new homes by 2031.”

“Canada can and will solve the housing crisis,” read an attached quote by Housing Minister Sean Fraser.

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Vote Whoring: Trudeau government to begin exploring ‘halal mortgages’

The federal government says it plans to explore new measures to expand access to “alternative financing products, like halal mortgages.”

According to the federal budget, the Liberal government has already begun consultations with financial services providers and diverse communities “to understand how federal policies can better support the needs of all Canadians seeking to become homeowners.”

The Islamic faith considers the charging of interest to be a form of usury, and considers gains made through interest to be unjust.

h/t Patti Jo

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Critics attack long timelines in defence plan as military awaits a budget boost

There will be money set aside in today’s federal budget for the Department of National Defence (DND) — much of it linked to the implementation of the new defence policy released with great fanfare last week by the Liberal government after more than two years of study.

It remains to be seen how quickly the funding will be rolled out, whether it will be affected by internal budget cuts and whether it can meet the needs of the military and placate Canada’s anxious allies.

Skeptical Conservative MPs ripped into the defence plan Monday and demanded action over words.

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Budget 2024 tries to sell youth a more affordable life with billions in spending

The Liberal government delivered a federal budget on Tuesday geared towards young Canadians, proposing a spending plan that promises to do everything from make it easier to buy a first home to crack down on costly concert ticket fees.

“We are acting today to ensure fairness for every generation,” Finance Minister and Deputy Prime MInister Chrystia Freeland said in the House of Commons Tuesday as she tabled the Liberals’ 2024 budget.


CBC – Freeland’s new federal budget hikes taxes on the rich to cover billions in new spending

NATPO – Canada’s budget 2024: Freeland’s budget targets rich Canadians for new spending

CTV – Budget 2024 prioritizes housing while taxing highest earners, deficit projected at $39.8B

Globe – Federal Budget 2024: Ottawa targets capital gains for billions in new revenue

Star – Trudeau government targets Canada’s richest to help pay for spending in $480.5B budget

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Is the Trudeau government overselling how much housing it can build? Yes

Out of reach for most Canadians.

John’s doctor just told him that he has high blood pressure, is seriously overweight and is on the verge of becoming a diabetic. This was not his first warning.

In response, John finally decided to do something. He promised to stop smoking. He promised to cut out junk food. He promised to eat more vegetables. And he drew up an exercise program, with a schedule of workouts mapped out to 2030.

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Federal budget will include tax hike for wealthy Canadians, sources say

Freeland Budget Shoes

Tuesday’s federal budget will include a tax increase on the richest Canadians, sources tell Radio-Canada.

It’s not clear exactly what form the tax measure will take but senior Liberal sources have told Radio-Canada that it will affect less than 1 per cent of Canadians.

Prime Minister Justin Trudeau and his ministers have been on a countrywide tour in recent weeks to make a series of pre-budget announcement.

h/t DS

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Gurski: Trudeau government shows it’s not serious about foreign election-meddling

There is much to take away from all the recent analysis and counter-analysis of foreign interference in Canada’s elections — and none of it is good.

In summary, our government minimized the threat to our electoral process, admitting that while there “may” have been “some minor” efforts to sway voter intention, when all was said and done the results were not affected. (I am waiting for someone to explain how this conclusion was drawn: does the government know the reasons individual Canadians voted and the reasons for their choice of party/candidate?)

If it benefits the LPC then Justin approves.

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Kurl: Trudeau’s pre-budget dance isn’t impressing the audience

Since 2015, Justin Trudeau has been a Pied Piper, playing a tune jaunty enough to make just enough Canadians follow his fiscal path. On the campaign trail that year, after a decade of fiscal austerity under Stephen Harper, Trudeau broke political orthodoxy with a new song: modest deficits and a return to balanced budgets within three years.

It was radical (especially considering the NDP leader of the day was promising to balance his first budget), but 75 per cent of Canadians polled at the time were all in. Trudeau won the election.

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The dirty secret of the housing crisis? Homeowners like high prices

If you listen to Canadian politicians, the solution to our housing crisis seems to be some combination of immigration reform and a herculean countrywide building effort.

But Paul Kershaw, a public policy professor at the University of British Columbia and founder of the affordability advocacy group Generation Squeeze, says the emphasis on increasing housing supply obscures an issue politicians are less likely to address.

Namely, that we, as a country, have become addicted to ever-rising home prices, largely because we’ve been conditioned to see our homes as financial assets.

This is a bit WEF’y for me.

The other dirty secret is that while Trudeau talks housing crisis he really doesn’t do anything that will decrease real estate prices as that would hurt his base of urban voters.

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CHARLEBOIS: Budget blues and our food future

Last week was pivotal for economic indicators. The Bank of Canada has opted to maintain its benchmark interest rate steady, while recent data revealed that inflation in the U.S. is accelerating again.

The U.S. economy appears robust, which sharply contrasts with Canada, where there is an anticipatory hope for a “soft landing”—a scenario that includes avoiding recession while achieving full employment. However, the economic data from Canada indicate significant headwinds in productivity and wealth creation.

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Declassified Memo Shows Trudeau Was Warned in 2017 About Chinese Police Investigations in Canada

Prime Minister Justin Trudeau’s national security adviser sent him a briefing in 2017, warning about unwarranted investigations by Chinese police in Canada, according to a declassified document.

The warning came at a time when Ottawa was pursuing closer relations with the communist regime, including a potential free trade agreement. A year earlier, as part of preliminary talks toward a free trade agreement, Canada had also agreed to negotiate a possible extradition treaty with Beijing.

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Michael Kempa: Justin Trudeau’s well-rehearsed testimony reassures no one

Earlier this week in Ottawa, I sat in the beautiful Bambrick Room of the Library and Archives Canada building and witnessed the Prime Minister of Canada along with his key ministers give sworn evidence to the Public Inquiry into Foreign Interference in Federal Electoral Processes and Democratic Institutions (PIFI).

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Canada Goes All In for 1984

Punishment for thoughtcrimes is the new normal in Canada.

Americans may wish to look up north to see how the latest attacks on free thought and expression are proceeding. In Canada, governments, universities, and self-regulating organizations regularly attack the core civil rights that have long allowed individuals in English-speaking democracies to flourish and innovate: the right to think and to speak.

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