Plunge in world oil prices means $4.9-billion surplus Conservatives promised for 2015 election year has ‘eroded to nothing,’ say economists
PARLIAMENT HILL—The calamitous effect of the dramatic plunge in world oil prices on government revenues means a $4.9-billion surplus the Conservatives promised for the 2015 election year has “essentially eroded to nothing,” says a senior economist with the Conference Board of Canada. “The way we see things with our oil price assumptions—essentially oil prices climbing […]
MPs spent almost $52-million in first half of 2014-15, expense reports show
MPs spent almost $52-million during the first half of the 2014 fiscal year, according to new quarterly expenditure reports, but one MP is questioning whether the cost to produce more of these reports is worth it. Independent MP Massimo Pacetti (Saint-Léonard-Saint-Michel, Que.), one of the lowest spenders so far this year, said the $3.8-million cost […]
Financial Sector
Liberal approach is decidedly different
Liberals believe that government must not only create the right conditions for economic growth, but also ensure that growth is sustainable and will finally help struggling middle-class families. Instead, the Canadian economy continues to lag. Job growth over the last two years has been weak, consumer debt is high, infrastructure is in disrepair, and […]
Feds need to take action to move Canadians out of slow-growth rut
It has been both an insightful and enjoyable experience this fall session sitting as vice-chair of the House Standing Committee on Finance. A depth of experience has been brought forth by witnesses to the committee for pre-budget consultations. They have made it very clear what many Canadians want to see in the 2015 budget. […]
Canada remains an island of stability in an uncertain world
Once we return to balanced budgets, our top priority will be to build an even stronger economy, including lowering taxes for Canadians. Canada’s Economic Action Plan will continue to deliver results to Canadians, and to keep Canada prosperous. For this financial sector policy briefing, it would only seem fitting that I talk about the […]
CMHC eyeing changes to finance system, mum on details
The Canada Mortgage and Housing Corporation (CMHC) is re-examining its “role in the Canadian housing and financial markets and looking to be part of an even more resilient system,” according to the Crown corporation. The CMHC advises the Canadian government on “potential improvements to our housing system” and monitors the housing finance system along with […]
‘Things are not bad, but they’re not great’
Canadian resources and the domestic market as a whole will continue to drive Canada’s financial sector as the economy slowly straightens itself out after the economic struggles of the 2000s. Late last week, Canadian business headlines were filled with news that the Canadian Gross Domestic Product (GDP) shrank in August for the first time […]
Small Business Job Credit a sticking point for opposition parties in budget implementation bill
The government’s inclusion of a Small Business Job Credit in Bill C-43, the federal government’s latest omnibus budget implementation bill, is dominating the conversation when it comes to the explicitly fiscal matters in the expansive legislation. The Economic Action Plan 2014 Act, No. 2 is the second bill to implement provisions of the 2014 budget […]
Analysts say FIPA is an ‘incremental step’ in protecting foreign investment
Some analysts of the Foreign Investment Promotion and Protection Agreement (FIPA), which Canada signed with China and came into force Oct. 1, say the deal is an incremental step in protecting foreign investment in the financial institution sector in each of the countries. Canada has 27 FIPAs currently in law and “is in active […]
