Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts
Tuesday, January 15, 2013
Canadian Economic Outlook for 2013: Cautious Optimism
The Bank of Canada announced this week that Canadian businesses are optimistic about 2013. The economy is expected to grow modestly this year with most of the growth in the manufacturing sectors in Eastern and Central Canada.
http://business.financialpost.com/2013/01/14/canadian-businesses-see-brighter-future-bank-of-canada-reports/?__lsa=bc90-e162
Meanwhile, the Economic Club of Canada predicts that the U.S. will have a 'surge' in the economy for 2013 and this will benefit Canada. Canada's economy will get a boost in exports, which supports the Bank of Canada's prediction of growth in the manufacturing sector.
This is good news for Canadian businesses, not only for those in the manufacturing sector but also for support services. With an increase in demand, businesses will likely see modest growth over 2013.
However, one must wonder if the rosy predictions are merely temporary? With governments continuing to run deficits, with debts piling up and with consumer debt at an all time high, one wonders how long we can continue before interest payments overwhelm us. When growth is being financed by debt, there is a problem. Whether or not Canada (and the West) can manage both growth and debt reduction remains to be seen.
Tuesday, May 3, 2011
Stunning Upsets in Canadian Federal Election
Most, if not all political pundits were caught off guard by the sweeping changes in the 2011 Federal Election.
A Tory win was predicted, but there was uncertainty over whether it would be a minority government or a majority government. As the election campaign went on, most were seeing a majority slip away. However, the big news, esp. during the last week of the election campaign, was the sudden surge in NDP popularity, with some going so far as to predict a new Prime Minister!
Meanwhile, many expected the Liberals to lose seats but no one predicted such a stunning upset with the Liberals seeing their seats cut in half from 77 to 34. Even more incredible, was the destruction of the Bloc from 49 seats down to 4!
The NDP sweep was not only in Quebec, but also in parts of Toronto. The dramatic fortunes of the NDP have seen a historic result: Official Opposition.
However, NDP success was muted with the surprise majority victory of the Conservatives. With 167 seats, 12 more than required for a majority, the Conservatives have achieved a Conservative majority for the first time since 1988.
So, we have a Conservative Majority, an NDP Official Opposition, a severely weakened Liberal party, a decimated Bloc Quebecois and a first seat for the Green Party.
Who knew Canadian politics could be so interesting?
A Tory win was predicted, but there was uncertainty over whether it would be a minority government or a majority government. As the election campaign went on, most were seeing a majority slip away. However, the big news, esp. during the last week of the election campaign, was the sudden surge in NDP popularity, with some going so far as to predict a new Prime Minister!
Meanwhile, many expected the Liberals to lose seats but no one predicted such a stunning upset with the Liberals seeing their seats cut in half from 77 to 34. Even more incredible, was the destruction of the Bloc from 49 seats down to 4!
The NDP sweep was not only in Quebec, but also in parts of Toronto. The dramatic fortunes of the NDP have seen a historic result: Official Opposition.
However, NDP success was muted with the surprise majority victory of the Conservatives. With 167 seats, 12 more than required for a majority, the Conservatives have achieved a Conservative majority for the first time since 1988.
So, we have a Conservative Majority, an NDP Official Opposition, a severely weakened Liberal party, a decimated Bloc Quebecois and a first seat for the Green Party.
Who knew Canadian politics could be so interesting?
Wednesday, April 20, 2011
A Minority Government?
With less than 2 weeks to go, it is still uncertain whether or not the Conservatives will secure a majority win or a minority win.
If Harper wins a minority, the question then becomes will the opposition parties form a coalition in order to defeat the government or will Harper make concessions in order to remain in power?
The latest polls reveal that the Conservatives are firmly in the lead but a majority, while close, still eludes them.
One question on everyone's mind is: what will happen if the Conservatives win a majority? As today's column in the Vancouver Sun mentions, it will likely be more of the same.
Harper, contrary to Warren Kinsella's assertions, is not about to re-open the abortion debate, change gay marriage or introduce the death penalty. He will focus on the economy.
After all, he has a Master's Degree in Economics.
If Harper wins a minority, the question then becomes will the opposition parties form a coalition in order to defeat the government or will Harper make concessions in order to remain in power?
The latest polls reveal that the Conservatives are firmly in the lead but a majority, while close, still eludes them.
One question on everyone's mind is: what will happen if the Conservatives win a majority? As today's column in the Vancouver Sun mentions, it will likely be more of the same.
Harper, contrary to Warren Kinsella's assertions, is not about to re-open the abortion debate, change gay marriage or introduce the death penalty. He will focus on the economy.
After all, he has a Master's Degree in Economics.
Wednesday, December 8, 2010
Spending Cuts Coming in 2011
As with many European countries, Canada will be cutting back on spending in order to rein in the federal deficit.
Finance Minister Jim Flaherty did not provide details but said that the government has to scale back spending in order to eliminate the deficit by 2014.
Opposition parties are concerned that 'turning off the taps' too soon could hurt the economy and especially those most in need.
The Canadian economy is relatively strong (especially compared with other Western economies). This is in part due to the strong demand from developing nations for our natural resources.
We won't know the impact of a reduction in spending until Flaherty reveals the details.
Stay tuned.
Finance Minister Jim Flaherty did not provide details but said that the government has to scale back spending in order to eliminate the deficit by 2014.
Opposition parties are concerned that 'turning off the taps' too soon could hurt the economy and especially those most in need.
The Canadian economy is relatively strong (especially compared with other Western economies). This is in part due to the strong demand from developing nations for our natural resources.
We won't know the impact of a reduction in spending until Flaherty reveals the details.
Stay tuned.
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