Record household debt levels, housing prices, threaten Canada’s economy
In Canada and across OECD countries, the middle class is under threat. New technologies in the workplace are driving changes in our labour market. More and more jobs—both blue collar and white collar—can now be done by computers, either here, at home, or overseas. It is leading to a premium for highly-skilled work and, […]
Our government has made financial literacy a priority
As the chair of the House of Commons Standing Committee on Finance since 2009, I have had the opportunity to closely study the recovery of the Canadian economy in today’s increasingly interconnected and globalized world. Canada is at a unique crossroads in 2012. We are coming out of the economic downturn with the chance to […]
Senate Banking Committee should have done better job on its five-year ‘review’
Parliamentary committees do their best work, which includes holding the executive branch to account, when they are provided with the time and scope to do so. The truth of this statement was brought strikingly home to me recently when Senators were deprived of this right as it conducted its study of Bill S-5. The Senate […]
Feds’ Trojan Horse budget bill bad news
Canadians should be worried about the very nature of the Budget Implementation Bill, C-38. It is an overreaching, massive omnibus that includes hundreds of pages of previously unannounced changes that the government has tried to sell to Canadians as a job creator. In reality, it simply disguises what this Trojan Horse budget bill will […]
Industry, consumers call on government to bring greater certainty to financial sector
The federal government completed its five-year review of the Bank Act with the passage of Bill S-5 in March. Finance Minister Jim Flaherty said from the outset that the review would be “technical,” but industry and consumer groups are both looking to the feds for regulatory improvements to Canada’s financial sector. Bill S-5, the […]
Canada’s banks face regulatory headwinds to international growth
The Canadian brand may be good for business, but Canada’s banks say international growth is hindered by the extraterritorial reach of recent U.S. regulations. “We have the capacity to do things internationally that our global competitors don’t,” admitted RBC President and CEO Gord Nixon in an interview with The Hill Times last week. “It’s […]
Sovereign, household debt continue to pose greatest economic threats: Flaherty
Finance Minister Jim Flaherty says the biggest threat to the Canadian economy is household debt, he’s concerned about the housing market, says the federal government will tighten the residential mortgage market again if needed, the biggest foreign threat to the Canadian economy is uncertainty, and he says his greatest challenge is the danger posed by […]
Opposition calls on feds to take a harder line on elder abuse
Opposition critics of the government’s seniors’ policies say it’s time to stop talking about elder abuse and implement new policies to eliminate it. “We need to do something practical and pragmatic, and not just focus on awareness,” said NDP seniors critic Irene Mathyssen (London – Fanshawe, Ont.), who described elder abuse as an “appalling […]
Canada’s demographic shift redefining retirement
Canada is getting older and living longer, and experts predict that the demographic challenges will reshape the country’s social safety net and redefine retirement in the coming decades. It’s difficult to ignore the oft-stated statistics and inferences: the number of seniors is expected to double by 2030; the average life expectancy has increased by […]
Prepare for increasing mental health issues, urges Mental Health Commission of Canada report
As Canada’s population ages, improving health care has become a priority across the country and while the federal government and provinces may be preparing for increasing health-care burdens, their focus should also include the mental well-being of Canadians, says a report from the Mental Health Commission of Canada. “Canada’s population is currently undergoing a […]
