CSIS watchdog calls for greater commitment to Arctic security
The latest annual report from the Security Intelligence Review Committee recommends that Canada’s leading intelligence agency “institutionalize responsibility” for monitoring the country’s Arctic territory, but stops short of detailing existing security threats in the Far North. The Security Intelligence Review Committee’s (SIRC) recent annual report says the Canadian Security Intelligence Service (CSIS) needs to […]
Middle class squeezed by high household debt
The economic challenges facing Canadian middle-class families are also a risk to Canada’s financial sector. In the last year, Canadian banks have been downgraded by the world’s leading debt rating agencies. Both Moody’s and Standard & Poor’s have been clear about what is behind these downgrades: concern about the banks’ exposure to record high […]
Lack of real action on credit card fees hurting businesses, consumers
Canada’s small and medium-sized enterprises (SMEs) are at the heart of our economy. SMEs are the engines of innovation and job creation that help create thriving and prosperous communities. However, these vital businesses are facing a serious challenge: their costs are skyrocketing as a result of the large credit card companies gouging them with […]
Flaherty has a Canadian household debt problem
In the last five years, the Canadian economy has faced a seemingly endless string of economic threats from abroad—from debt spirals in Europe to political gridlock in the United States. But today the Canadian economy faces a new threat. This past September, Canadian household debt hit a record high of 166 per cent of […]
Feds focused on economy, balanced budget by 2015
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. Although a half a decade has passed since the 2008–2009 global financial and economic crisis, the after-effects continue to […]
Government will meet challenges ahead: Flaherty
In the eight years I have served as Canada’s Finance minister, our country’s economic performance has consistently placed us at or near the top of the Group of Seven (G7) developed economies. Our government has had an unwavering commitment to a strong financial sector, and been willing to act, and act quickly, when confronted […]
Feds plan to appoint financial literacy leader by year’s end
The federal government is expected to appoint a new financial literacy leader by year’s end, but opposition critics say the government needs to take a more active role in job creation as personal debt levels continue to rise. A Finance Department official speaking on background confirmed that the government is planning to appoint the […]
Battle over credit card fees returns with consumer-focused House
Canada’s retail and financial services sectors are both angling to represent the public interest following Prime Minister Stephen Harper’s “pro-consumer” Speech from the Throne. The ongoing battle between retailers and credit card issuers is showing no sign of cooling off following the Competition Tribunal’s summer decision to refer the dispute back to the feds […]
Aboriginal Opportunities
Defined pensions largely a thing of the past
WATERLOO, ONT. —The world of retirement income security is rapidly changing—and leaving most Canadians without a security net. In 1986, a sizeable 39 per cent of the labour force had an employer-sponsored pension and most of these (92 per cent) were defined-benefit plans where workers knew clearly the income they would have post-retirement. By […]
