Economists, Bank of Canada say Canada ‘not immune to spillovers’ amid recent banking turmoil
The Bank of Montreal’s chief economist Douglas Porter says markets are ‘incredibly good’ at discovering areas of weakness, and that he ‘wasn’t sure we’ve seen the end of this.’
Employee ownership trusts a promising new model to keep businesses and property in Canada
The benefits of legislating EOTs into our Income Tax Act are plentiful. When businesses are sold to their employees, it helps support local economies and protect jobs, and it contributes to employee wealth. In this age of increasing affordability challenges, building wealth for Canadian workers is a great way of mitigating inequality.
Does the planet need a new Bretton Woods Agreement and can Canada help?
The world is a very different place from when the World Bank and International Monetary Fund were created in the mid-1940s at Bretton Woods, N.H., and both the role and operational instruments they deploy must be modernized to address today’s very different challenges.
Canada talks a big game, but its innovation sector doesn’t walk the talk
Federal policy, which is more transactional than strategic, is turning Canada into a branch plant economy—a derivative economy in which we help foreign corporations grow and profit in exchange for jobs, while making us dependent on maintaining the goodwill of foreign investors to keep those jobs.
Pause in interest rate hikes offers no ‘breather’ to Liberals politically, says pollster
The Conservative and NDP finance critics say the ‘relentless interest hikes’ and rising mortgage rates are creating ‘hardship’ for Canadians, and urge the government to look to other avenues to fight inflation.
Canada Innovation Corporation’s been a long time coming, but there’s ample room for skepticism
The CIC may bring some small economic improvement. But we need a much better picture of what the future needs than Ottawa is currently offering, or maybe even capable of offering, for real success.
Morneau says PMO consumed with short-term politicking, longer-term growth prospects not a priority
But the recent report on Canada’s fiscal outlook, quarterbacked by former Bank of Canada governor David Dodge, underlines the serious challenges we face. It assumes a potential growth rate of 1.8 per cent through the 2020s, too low to deliver the kind of country we want, writes David Crane.
Canada’s population advantage offset by weak productivity
The Office of the Superintendent of Financial Institutions, Canada’s bank regulator, is signalling it’s concerned a prolonged downturn is a distinct possibility, which is currently not a best-case scenario for the Bank of Canada, the Government of Canada, or most bank economists.
Canada’s financial sector is more than six big banks
There is a tendency in Ottawa to see the ‘financial sector’ as consisting of six institutions, but this excludes many smaller players.
