Trudeau tax relief plan will do little for economic growth

Trudeau tax relief plan will do little for economic growthBy Jake Fuss and Finn Poschmann The Fraser Institute According to a Parliamentary Budget Officer (PBO) report released this week, the federal government’s plan to increase the basic personal income tax deduction will cost nearly $7 billion annually when fully implemented. This is not only higher than what the Liberals anticipated during last fall’s election…

Natural resources GDP on the decline in Canada

Oil sands extraction declined largely because of shutdowns and maintenance of some production facilities. Crude oil extraction also falls

Natural resources GDP on the decline in CanadaThe natural resources sector in Canada continues to be challenged. A new report released Friday by Statistics Canada said real gross domestic product (GDP) of the natural resources sector fell 2.2 per cent in the third quarter, following a 2.8 per cent rise in the second quarter.  The federal agency said the decline was largely…

Third of Canadians face some degree of financial stage fright

Households with an average income of $50,000 worry twice as much (2.25 hours) a day than households with an average income of more than $100,000

Third of Canadians face some degree of financial stage frightThere’s no question that Canadians these days are worrying a lot more about their personal finances, according to new surveys from Scotiabank. The surveys indicate 65 per cent of Canadians with debt struggle to save or invest money while paying down debt and 67 per cent said they find the amount of information about investing overwhelming.…

Energy production in Canada declining, says StatsCan

Alberta produced 18.3 million cubic metres of crude oil and equivalent products in October, down 4.9 per cent

Energy production in Canada declining, says StatsCanEnergy production in Canada declined in several sectors in October 2019, compared with the same month in 2018, according to Statistics Canada. The federal agency said production of crude oil and equivalent products (-1.7 per cent), natural gas (-1.3 per cent), and coal (-9.3 per cent), as well as electricity generation (-3.3 per cent) declined…

Oil/gas provinces dominate Canadian labour productivity

Oil/gas provinces dominate Canadian labour productivityAlberta had the second highest level of labour productivity in 2018 among the provinces ($78.50 per hour) after Saskatchewan ($79.90) and just ahead of Newfoundland and Labrador ($76.90), according to ATB Financial’s Economics & Research Team. Productivity for Canada as a whole was $59.40 per hour. In its daily economic update, The Owl, ATB said…

Gigging it in the free world

The gig economy is gaining traction, for better or worse. Who needs benefits or job security when you can work on a high wire?

Gigging it in the free worldAre you weary of your reliable job? Do your paid vacation, company pension plan and full medical coverage leave you cold? Are you pining for the sort of precarious work that only self-employment can promise? Well, friend, you’ve come to the right place. Here, at GigsRUs, we won’t bore you with bromides about workplace security,…

Tear down Canada’s interprovincial trade walls

The annual national price tag for maintaining internal barriers may top $130 billion

Tear down Canada’s interprovincial trade wallsInterprovincial free trade, the lowest hanging fruit on the tree of Canadian economic policy, never fails to raise the federal government’s thirst for marvellously empty rhetoric, especially during the toastmaster circuit of every election cycle. So it was earlier this year when New Brunswick’s very own Dominic LeBlanc – minister of Intergovernmental and Northern Affairs…

Income grew fastest in provinces with large oil and gas deposits

StatsCan study over 66 years provides insight into which provinces experienced the most growth over three generations

Income grew fastest in provinces with large oil and gas depositsData released Thursday by Statistics Canada may be a couple of years old but it illustrates the importance of the oil and gas sector to the economies of several provinces. “According to a new study, from 1950 to 2016, real gross domestic income (GDI) per capita grew fastest in provinces with large oil and gas…

How to save Newfoundlanders from Muskrat Falls disaster

The hydroelectric project mess in Newfoundland and Labrador requires some hard choices. But taxpayers deserve and need some relief

How to save Newfoundlanders from Muskrat Falls disasterThe citizens and taxpayers of Newfoundland and Labrador received important news late in 2018: an autopsy of the horrific financial debacle at Churchill Falls and the beginning of an inquiry into the questionable new Muskrat Falls hydroelectric project. The long legal battle has ended over the Joey Smallwood era’s unprofitable Churchill Falls contract, which the…

Lack of pipeline costs energy sector $20.6 billion in revenue

Fraser Institute report says overdependence on American market is hammering the Canadian oil industry

Just how important is market access and lack of pipeline capacity to the Canadian economy? A report released on Tuesday by the Fraser Institute, a Canadian public policy think-tank, said the issue is driving down the price of Canadian oil, costing the country’s energy sector $20.6 billion in lost revenues last year. “Without sufficient pipelines…