At the start of this federal election year, Canadians have gone back to feeling pessimistic about both the state of the economy and their own financial situations. It’s a reversion to a gloomier outlook that took hold way back in the 2008-09 recession, after many Canadians seemed to have shaken off that sense of unease around the start of 2018.
Hit hard by a drop in oil prices, the province saw a net decrease last month of 16,900 jobs, or 0.7 per cent, compared with November, as an increase in part-time work was far outweighed by a loss of 36,200 full-time positions.
Many in the oil and gas industry are hurting and they’ve been finding large-scale and visible ways to show the federal government how desperately they need to get their product to market.
While Exxon Mobil had enough confidence to push the project forward under the Harper government, it’s no surprise that under the anti-energy Trudeau Liberals the project is being scrapped.
Albertans are fed up with Quebec, the grand leech of Confederation. CAQ Premier Francois Legault lit the match when he killed the idea of restarting Energy East and declared there was no social acceptability for oil in Quebec. Well, guess what? There’s no social acceptability in Alberta for sending Quebec any more of our money.
Don’t blame General Motors or declining market demand for automobiles for the plant closings in Canada and the U.S. announced this week. The closings are largely the work of governments.
Demand for cars hasn’t plummeted, as some media outlets have reported. Sales on the whole are actually up this year, part of a steady trend of more vehicles sold over the past decade. Sales are dramatically down only for sedans, specifically the gasoline-powered species of sedans that governments have targeted. In contrast, sales are way up for SUVs and light trucks, vehicles that governments have favoured. Little wonder, then, that GM announced it would scrap many of its sedan models — along with the plants in Ontario and the U.S. that produce them — and switch to vehicles that governments either tolerate or bless. Ontario, doubly uncompetitive due to high taxes and high electricity costs, was inevitably a loser.
Canada’s oil sector, auto sector, and aerospace sector are essential to our economic health and future as a nation.
Nationalizing GM Canada is a compelling proposition. It would not only save jobs but create them, as Canada repatriated the engineers, designers and experts in advanced manufacturing who have been obliged to make their careers abroad.
In a common-sense conclusion, TD Bank economists say Canada’s economy will suffer if the massive oil price discount for Canadian oil continues.
The damage will be worst in Alberta, and overall growth in the country will fall by 0.5%.
Keep in mind, considering that economic growth is already struggling to keep up with inflation and population growth, a 0.5% fall would shift Canada closer to a recession.
Few countries have been moving toward a cashless society as fast as Sweden. But cash is being squeezed out so quickly — with half the nation’s retailers predicting they will stop accepting bills before 2025 — that the government is recalculating the societal costs of a cash-free future.
Prime Minister Justin Trudeau isn’t saying what he is willing to do to keep a provision protecting labour rights for lesbian, gay, bisexual and queer workers inside a renewed North American free trade pact.
More than 40 Republican lawmakers wrote U.S. President Donald Trump on Friday demanding the removal of language in the agreement pledging all three countries to support “policies that protect workers against employment discrimination on the basis of sex, including with regard to pregnancy, sexual harassment, sexual orientation, gender identity.”
While Canadians express almost total unanimity about prohibiting future sales of weapons and defence equipment to the Kingdom of Saudi Arabia, the latest public opinion survey from the Angus Reid Institute shows they are evenly divided over the question of what to do about the current, 15-year, $15 billion dollar agreement between this country and the KSA to exchange military goods for cash.
We need meaningful tax cuts, aggressive support for resource development and transportation and elimination of interprovincial trade barriers.
The long lineups outside of the Société québécoise du cannabis stores (SQDC) have become a problem for neighbouring businesses.
Tutti Va Bene, a store at the corner of Mansfield and Ste-Catherine streets, has even resorted to installing stanchions to create a path to their doorway.