v As part of a four month investigation, the Financial Post has identified as many as 35 Canadian projects, worth $129 Billion as stalled or cancelled because of opposition due to environmental, aboriginal and or community groups. If these projects proceeded they would create hundreds of thousands of manufacturing and construction jobs while being built and tens of thousands of full time operational jobs when the projects were commissioned.
v A recently released third quarter (2016) National Accounts Report shows all sectors of the Canadian economy are now net borrowers. Net borrowing for Corporations reached an annual rate of $19.7 Billion. Households totaled $30.5 Billion and the total of all governments 2016 annual deficits total $37.6 Billion.
v Total accumulated debt by the federal government currently stands at $634.4 Billion. Total federal and all provincial debt stands at $1,294.7 Trillion. Note that municipal debt is not included in the $1.294 Trillion debt.
v Included in the above totals, accumulated debt in Ontario stands at $313.9 Billion. Quebec is $180.1 Billion. Ontario has the highest per capita debt of all provinces at $22,449.00. We used to believe Quebec did not have their finances under control. Their per capita debt is less than Ontario’s.
v Net federal debt is expected to increase $107 Billion in the next 4 years. Total federal government interest costs since 1990 equal $950 Billion. Federal debt increases at a rate of $87 Million per day or $60,460 per minute or $1,008 per second.
v Business investment in Canada has fallen for an eighth straight quarter. Even with the favourable Canadian exchange rate, exports are below their level of a year earlier. The manufacturing sector, particularly in Ontario, is struggling with energy cost differentials, rising non-tariff barriers, uncertainty about the status of trade agreements and complex approval processes. Policy makers are just starting to realize government stimulus spending is not working and more of the same won’t help.
v The Equalization Program started in Canada in 1957. The following are the Lifetime Payments to each province:
Quebec = $198 Billion (50.5%).
Manitoba = $46 Billion (11.7%).
NS = $44 Billion (11.1%).
NB = $43 Billion (10.9%).
N & Lab = $25 Billion (6.4%).
Ontario = $17 Billion (4.2%).
PEI = $ 9 Billion (2.4%).
Sask = $8 Billion (2.1%).
BC = $3 Billion (0.6%).
Alta = $92 *Million* (0.0%). * This is not a typing error!*
Remember, for a province to receive EP, another prov has to give EP
v 90% of all Canadian public sector workers have employer-provided pension plans compared to 24% in the private sector. Moreover 94% of these public sector pensions are “defined benefit” meaning retirees get a set amount after they leave their jobs (typically 70 to 75% of their working salary) whether or not there is enough money in the pension fund. Any shortfall is made up by the taxpayers for years and years after these civil servants retire. Many of them collect pensions longer than they worked.
v It used to be public servants made less money than their private sector counterparts. Not anymore. According to a recently released study by the Fraser Institute public servants now earn on average 11% more salary than their counterparts in the private sector. Compared to the private sector, civil servants enjoy longer vacations, take more non vacation days off ( 13 days vs 8) , retire on average 2.3 years earlier, enjoy superior pension benefits and more job security. According to the Canadian Federation of Independent Business, when all compensation is taken into account and divided by the hours worked , federal government workers made 40% more than their private sector counterparts , provincial government workers made 35% more and municipal government workers made nearly 30% more. There are 3.7 million public sector workers in Canada. The only way to get this under control is to privatize more services.
v Global oil consumption over the past few years is as follows:
2011 = 88.6 Million barrels per day (MBD),
2012 = 89.8 MBD,
2013 = 90.7 MBD ,
2014 = 92.6 MBD ,
2015 = 94 MBD ,
2016 = 95.4 MBD and
2017 global oil consumption is expected to be 97 Million Barrels Per Day. As much as the environmental activists pontificate the world is transitioning off fossil fuels, this upward trend in oil consumption will continue for years to come. Despite the many governments (in Europe, Canada and the USA) spending hundreds of billions of dollars on green energy initiatives over the past 10 years, sufficient technology does not exist and is still not even close to providing the energy to meet the industrialized world’s needs.
v A recently released third quarter (2016) National Accounts Report shows all sectors of the Canadian economy are now net borrowers. Net borrowing for Corporations reached an annual rate of $19.7 Billion. Households totaled $30.5 Billion and the total of all governments 2016 annual deficits total $37.6 Billion.
v Total accumulated debt by the federal government currently stands at $634.4 Billion. Total federal and all provincial debt stands at $1,294.7 Trillion. Note that municipal debt is not included in the $1.294 Trillion debt.
v Included in the above totals, accumulated debt in Ontario stands at $313.9 Billion. Quebec is $180.1 Billion. Ontario has the highest per capita debt of all provinces at $22,449.00. We used to believe Quebec did not have their finances under control. Their per capita debt is less than Ontario’s.
v Net federal debt is expected to increase $107 Billion in the next 4 years. Total federal government interest costs since 1990 equal $950 Billion. Federal debt increases at a rate of $87 Million per day or $60,460 per minute or $1,008 per second.
v Business investment in Canada has fallen for an eighth straight quarter. Even with the favourable Canadian exchange rate, exports are below their level of a year earlier. The manufacturing sector, particularly in Ontario, is struggling with energy cost differentials, rising non-tariff barriers, uncertainty about the status of trade agreements and complex approval processes. Policy makers are just starting to realize government stimulus spending is not working and more of the same won’t help.
v The Equalization Program started in Canada in 1957. The following are the Lifetime Payments to each province:
Quebec = $198 Billion (50.5%).
Manitoba = $46 Billion (11.7%).
NS = $44 Billion (11.1%).
NB = $43 Billion (10.9%).
N & Lab = $25 Billion (6.4%).
Ontario = $17 Billion (4.2%).
PEI = $ 9 Billion (2.4%).
Sask = $8 Billion (2.1%).
BC = $3 Billion (0.6%).
Alta = $92 *Million* (0.0%). * This is not a typing error!*
Remember, for a province to receive EP, another prov has to give EP
v 90% of all Canadian public sector workers have employer-provided pension plans compared to 24% in the private sector. Moreover 94% of these public sector pensions are “defined benefit” meaning retirees get a set amount after they leave their jobs (typically 70 to 75% of their working salary) whether or not there is enough money in the pension fund. Any shortfall is made up by the taxpayers for years and years after these civil servants retire. Many of them collect pensions longer than they worked.
v It used to be public servants made less money than their private sector counterparts. Not anymore. According to a recently released study by the Fraser Institute public servants now earn on average 11% more salary than their counterparts in the private sector. Compared to the private sector, civil servants enjoy longer vacations, take more non vacation days off ( 13 days vs 8) , retire on average 2.3 years earlier, enjoy superior pension benefits and more job security. According to the Canadian Federation of Independent Business, when all compensation is taken into account and divided by the hours worked , federal government workers made 40% more than their private sector counterparts , provincial government workers made 35% more and municipal government workers made nearly 30% more. There are 3.7 million public sector workers in Canada. The only way to get this under control is to privatize more services.
v Global oil consumption over the past few years is as follows:
2011 = 88.6 Million barrels per day (MBD),
2012 = 89.8 MBD,
2013 = 90.7 MBD ,
2014 = 92.6 MBD ,
2015 = 94 MBD ,
2016 = 95.4 MBD and
2017 global oil consumption is expected to be 97 Million Barrels Per Day. As much as the environmental activists pontificate the world is transitioning off fossil fuels, this upward trend in oil consumption will continue for years to come. Despite the many governments (in Europe, Canada and the USA) spending hundreds of billions of dollars on green energy initiatives over the past 10 years, sufficient technology does not exist and is still not even close to providing the energy to meet the industrialized world’s needs.
