Well, today is the Liberal/NDP Non-Coalition Coalition Budget Day!
- Thread starter Ron in Regina
- Start date
It really is still fairly cheap money , we have been spoiled with historically low rates in recent years .
You may have heard that the Canadian and Ontario governments are spending up to $15 billion to ensure Chrysler-maker Stellantis builds an electric battery plant in Windsor. From this news, it might be reasonable to conclude that Stellantis is in the business of making batteries, but that would be incorrect. It is quite clear that Stellantis is, instead, in the business of securing government subsidies.
Only a year ago, Stellantis agreed to a deal that included, reportedly, $1 billion from the provincial and federal governments. After the Americans passed Joe Biden’s US$370-billion climate change plan to pour out enormous subsidies and tax credits to attract makers of “green” technology, Stellantis resorted to bald extortion to get a deal worth 15 times as much as the original from Ottawa.
Carson Jerema: Trudeau Liberals were the perfect mark for electric vehicle grifters — National Post
If Stellantis was driven by market forces, it wouldn't need government incentives to the tune of $6 million a job
As currently constructed, the Stellantis deal assumes a 10-year term, and is dependent on the production and sale of electric batteries, but what happens if the plant takes longer to build, or it takes longer to get production to expected levels? Or the demand for electric vehicles just isn’t there? Or, what happens when Washington increases funding again?
Just because this deal was signed, doesn’t mean Stellantis, or Volkswagen for that matter, won’t come back a few years from now, demanding more subsidies, or lower production and employment expectations.
All new vehicles sold in Canada must be electric within the next 10 or 15 years, as Ottawa, Washington and others edge closer and closer to outlawing the internal combustion engine outright. Electric vehicles will be the only option on offer.
Getting into the subsidy business is lucrative for manufacturers, not so much for taxpayers.
after which, any bureaucrats or politicians with vehicles still powered by internal or compression combustion engines should see them getting blown up by a pissed off populace, preferably while they're sitting in them.
none of this "rules for thee" bs
a-holes woulda had it coming
I want a hydrogen vehicle.You may have heard that the Canadian and Ontario governments are spending up to $15 billion to ensure Chrysler-maker Stellantis builds an electric battery plant in Windsor. From this news, it might be reasonable to conclude that Stellantis is in the business of making batteries, but that would be incorrect. It is quite clear that Stellantis is, instead, in the business of securing government subsidies.
Only a year ago, Stellantis agreed to a deal that included, reportedly, $1 billion from the provincial and federal governments. After the Americans passed Joe Biden’s US$370-billion climate change plan to pour out enormous subsidies and tax credits to attract makers of “green” technology, Stellantis resorted to bald extortion to get a deal worth 15 times as much as the original from Ottawa.
Carson Jerema: Trudeau Liberals were the perfect mark for electric vehicle grifters — National Post
If Stellantis was driven by market forces, it wouldn't need government incentives to the tune of $6 million a jobapple.news
As currently constructed, the Stellantis deal assumes a 10-year term, and is dependent on the production and sale of electric batteries, but what happens if the plant takes longer to build, or it takes longer to get production to expected levels? Or the demand for electric vehicles just isn’t there? Or, what happens when Washington increases funding again?
Just because this deal was signed, doesn’t mean Stellantis, or Volkswagen for that matter, won’t come back a few years from now, demanding more subsidies, or lower production and employment expectations.
All new vehicles sold in Canada must be electric within the next 10 or 15 years, as Ottawa, Washington and others edge closer and closer to outlawing the internal combustion engine outright. Electric vehicles will be the only option on offer.
Getting into the subsidy business is lucrative for manufacturers, not so much for taxpayers.
Now we know that everything that is being done is "on purpose" especially insofar as our economy. Our own Ms. Freeland states it here so no conspiracy anymore.
Many Canadians struggling under the strain of higher interest rates are likely relieved to hear that the rise in the consumer price index (CPI) slowed to 2.8 per cent in June — the lowest level since 2021. The news comes a week after the Bank of Canada (BoC) boosted its policy rate another 25 basis points to five per cent.
However, those hoping for rate cuts — or even a pause — may want to hold back on the celebrations, as there’s a very real chance that inflation has yet to be tamed and more pain is to come.
While the 2.8 per cent inflation rate is positive, the reality of our economic situation is more complex. The quick deceleration is largely due to what’s known as the base effect: last year’s unusually high inflation, which peaked at 8.1 per cent in June 2022, makes the current rate seem low in comparison.
The slowdown was also largely driven by lower gasoline prices, which also peaked last June due to Russia’s invasion of Ukraine. The cost of essential goods, in particular food and housing, are still soaring. Grocery prices rose a punishing 9.1 per cent year-over-year.
We’re not out of this mess yet and the BoC can’t take more rate hikes off the table, particularly because it has been left by the federal government to combat inflation alone. While Prime Minister Justin Trudeau’s Liberals could make the BoC’s job easier by reining in spending and other inflationary policies, they’ve steadfastly refused to do so.
This leaves only the most blunt tool to bring down inflation: rate hikes.
apple.news
After the BoC’s most recent rate hike announcement, Trudeau said, “This is not the news that any Canadian wanted to receive this morning.” But his statement hardly seems genuine when the Liberals haven’t lifted a finger to help in the inflation fight. His government refuses to make tough choices or compromise on their big-spending, high-immigration policies to help prevent further hikes.
So Trudeau can’t pretend to be surprised by this news, nor can he pretend the BoC increasing rates is anything other than his intended plan by way of refusing to do anything else to counter inflation. He’d rather hard-working Canadians pay more out of their pockets than spend any of the little political capital he has left to right the economy.
Even BoC governor Tiff Macklem appears to be getting fed up with government policies that actively spur inflation. He has been warning Liberals for months now that loose fiscal policy isn’t making his job any easier. The bank’s senior leadership has also admitted that record immigration levels are helping fuel housing costs and working in opposition to the BoC’s monetary policy.
And yet, the Liberals do nothing. So Macklem is left with no choice but to raise rates, inflicting more pain on Canadians, particularly the working class. That this is Canada’s first and only resort, and not a last resort, should be a source of outrage. Worse, the higher the central bank hikes interest rates, the more likely it becomes that it will overshoot and throw the country into a recession.
This isn’t the only way to slow inflation, and the Liberals shouldn’t be permitted to pretend that it’s something happening to them, when in fact it’s made more necessary by them.
However, those hoping for rate cuts — or even a pause — may want to hold back on the celebrations, as there’s a very real chance that inflation has yet to be tamed and more pain is to come.
While the 2.8 per cent inflation rate is positive, the reality of our economic situation is more complex. The quick deceleration is largely due to what’s known as the base effect: last year’s unusually high inflation, which peaked at 8.1 per cent in June 2022, makes the current rate seem low in comparison.
The slowdown was also largely driven by lower gasoline prices, which also peaked last June due to Russia’s invasion of Ukraine. The cost of essential goods, in particular food and housing, are still soaring. Grocery prices rose a punishing 9.1 per cent year-over-year.
We’re not out of this mess yet and the BoC can’t take more rate hikes off the table, particularly because it has been left by the federal government to combat inflation alone. While Prime Minister Justin Trudeau’s Liberals could make the BoC’s job easier by reining in spending and other inflationary policies, they’ve steadfastly refused to do so.
This leaves only the most blunt tool to bring down inflation: rate hikes.
Sabrina Maddeaux: We're not out of this inflationary mess yet due to reckless Liberal policies — National Post
June inflation numbers mask the storm clouds gathering on the horizon
After the BoC’s most recent rate hike announcement, Trudeau said, “This is not the news that any Canadian wanted to receive this morning.” But his statement hardly seems genuine when the Liberals haven’t lifted a finger to help in the inflation fight. His government refuses to make tough choices or compromise on their big-spending, high-immigration policies to help prevent further hikes.
So Trudeau can’t pretend to be surprised by this news, nor can he pretend the BoC increasing rates is anything other than his intended plan by way of refusing to do anything else to counter inflation. He’d rather hard-working Canadians pay more out of their pockets than spend any of the little political capital he has left to right the economy.
Even BoC governor Tiff Macklem appears to be getting fed up with government policies that actively spur inflation. He has been warning Liberals for months now that loose fiscal policy isn’t making his job any easier. The bank’s senior leadership has also admitted that record immigration levels are helping fuel housing costs and working in opposition to the BoC’s monetary policy.
And yet, the Liberals do nothing. So Macklem is left with no choice but to raise rates, inflicting more pain on Canadians, particularly the working class. That this is Canada’s first and only resort, and not a last resort, should be a source of outrage. Worse, the higher the central bank hikes interest rates, the more likely it becomes that it will overshoot and throw the country into a recession.
This isn’t the only way to slow inflation, and the Liberals shouldn’t be permitted to pretend that it’s something happening to them, when in fact it’s made more necessary by them.
NDP Leader Jagmeet Singh said Tuesday he would “absolutely” go to the polls over the issue of housing — but his team says his comments should not be taken as a threat to end the party’s confidence and supply agreement with the Liberals.
The comments came after a new report by the Canadian Centre for Policy Alternatives found the pressure from higher interest rates and a lack of affordable housing meant renters living on minimum wage in almost every neighbourhood across Canada were falling behind.
BUT an NDP official speaking on background said Singh’s words should not be seen as a political threat to end the non-coalition coalition that’s definitely not a coalition (this time) with the government.
apple.news
The official said the party is trying to (toothlessly?) press the Liberal government to take action on the housing issues facing Canadians rather than taking a wait-and-see approach they say appears to be the government’s current stance.
Over the past few months, Singh has faced questions over whether the NDP would force an election over various issues, including the government’s handling of foreign interference.
He said in June that the party would not trigger an election over the issue, BUT earlier in the year said he wasn’t ruling out making a public inquiry a condition for his party’s continued support, etc….
The comments came after a new report by the Canadian Centre for Policy Alternatives found the pressure from higher interest rates and a lack of affordable housing meant renters living on minimum wage in almost every neighbourhood across Canada were falling behind.
BUT an NDP official speaking on background said Singh’s words should not be seen as a political threat to end the non-coalition coalition that’s definitely not a coalition (this time) with the government.
Would Singh trigger an election over housing? What he and his team say — Global News
The current agreement with the two parties was established in early 2022 and sees the NDP support the Liberals on confidence votes until 2025.
The official said the party is trying to (toothlessly?) press the Liberal government to take action on the housing issues facing Canadians rather than taking a wait-and-see approach they say appears to be the government’s current stance.
Over the past few months, Singh has faced questions over whether the NDP would force an election over various issues, including the government’s handling of foreign interference.
He said in June that the party would not trigger an election over the issue, BUT earlier in the year said he wasn’t ruling out making a public inquiry a condition for his party’s continued support, etc….
Pussy!NDP Leader Jagmeet Singh said Tuesday he would “absolutely” go to the polls over the issue of housing — but his team says his comments should not be taken as a threat to end the party’s confidence and supply agreement with the Liberals.
The comments came after a new report by the Canadian Centre for Policy Alternatives found the pressure from higher interest rates and a lack of affordable housing meant renters living on minimum wage in almost every neighbourhood across Canada were falling behind.
BUT an NDP official speaking on background said Singh’s words should not be seen as a political threat to end the non-coalition coalition that’s definitely not a coalition (this time) with the government.
Would Singh trigger an election over housing? What he and his team say — Global News
The current agreement with the two parties was established in early 2022 and sees the NDP support the Liberals on confidence votes until 2025.
The official said the party is trying to (toothlessly?) press the Liberal government to take action on the housing issues facing Canadians rather than taking a wait-and-see approach they say appears to be the government’s current stance.
Over the past few months, Singh has faced questions over whether the NDP would force an election over various issues, including the government’s handling of foreign interference.
He said in June that the party would not trigger an election over the issue, BUT earlier in the year said he wasn’t ruling out making a public inquiry a condition for his party’s continued support, etc….
“We would (but we won’t), & we could (but we won’t) and should (but we won’t) and might (but we won’t) WHILE WE HOLD THE LIBERALS FEET TO THE FIRE!!!” is what I hear from Jagmeet Singh.
It is not just renters that are falling behind. Pensions are not keeping up with inflation either. Massive tax increases by multiple levels of government are making it difficult to hang on to homes.NDP Leader Jagmeet Singh said Tuesday he would “absolutely” go to the polls over the issue of housing — but his team says his comments should not be taken as a threat to end the party’s confidence and supply agreement with the Liberals.
The comments came after a new report by the Canadian Centre for Policy Alternatives found the pressure from higher interest rates and a lack of affordable housing meant renters living on minimum wage in almost every neighbourhood across Canada were falling behind.
BUT an NDP official speaking on background said Singh’s words should not be seen as a political threat to end the non-coalition coalition that’s definitely not a coalition (this time) with the government.
Would Singh trigger an election over housing? What he and his team say — Global News
The current agreement with the two parties was established in early 2022 and sees the NDP support the Liberals on confidence votes until 2025.
The official said the party is trying to (toothlessly?) press the Liberal government to take action on the housing issues facing Canadians rather than taking a wait-and-see approach they say appears to be the government’s current stance.
Over the past few months, Singh has faced questions over whether the NDP would force an election over various issues, including the government’s handling of foreign interference.
He said in June that the party would not trigger an election over the issue, BUT earlier in the year said he wasn’t ruling out making a public inquiry a condition for his party’s continued support, etc….
He's a freakin' Coward Singh is & I don't understand why he's is so determined to have the Libs continue in power. Is it REALLY about his pension? Really? Or is Singh one of the WEF admirers which may well be what this is actually about and that he concurs with everything Trudeau is doing.NDP Leader Jagmeet Singh said Tuesday he would “absolutely” go to the polls over the issue of housing — but his team says his comments should not be taken as a threat to end the party’s confidence and supply agreement with the Liberals.
The comments came after a new report by the Canadian Centre for Policy Alternatives found the pressure from higher interest rates and a lack of affordable housing meant renters living on minimum wage in almost every neighbourhood across Canada were falling behind.
BUT an NDP official speaking on background said Singh’s words should not be seen as a political threat to end the non-coalition coalition that’s definitely not a coalition (this time) with the government.
Would Singh trigger an election over housing? What he and his team say — Global News
The current agreement with the two parties was established in early 2022 and sees the NDP support the Liberals on confidence votes until 2025.
The official said the party is trying to (toothlessly?) press the Liberal government to take action on the housing issues facing Canadians rather than taking a wait-and-see approach they say appears to be the government’s current stance.
Over the past few months, Singh has faced questions over whether the NDP would force an election over various issues, including the government’s handling of foreign interference.
He said in June that the party would not trigger an election over the issue, BUT earlier in the year said he wasn’t ruling out making a public inquiry a condition for his party’s continued support, etc….
Two in three Canadians think the amount they pay in income taxes is too high and fewer than one in four Canadians believe the federal government spends on the right priorities.
Other findings include that two in three Canadians recognize that increased government spending contributes to inflation.
“Not only do Canadians find that the Trudeau government spends too much, but they also find that it spends unwisely,” said Renaud Brossard, senior director of communications at the MEI, in a statement. “This seems to indicate a disconnect between the Department of Finance and the people whose money is entrusted in its care.”
Quebec residents, in particular, have taken issue with the federal government’s spending, with 64 per cent of respondents in La Belle Province saying Ottawa is overspending.
Countrywide, 55 per cent of Canadians agree.
Adding to economic anxieties is the finding that fewer than one in four Canadians believe that the federal government is spending on the right things, while two in three respondents say their tax burden is too high.
Respondents were also more likely to be against carbon pricing (45 per cent) than in support (41 per cent), with the Atlantic provinces representing the strongest opposition at 68 per cent.
apple.news
Beyond spending, the poll found six in 10 Canadians are dissatisfied with the accountability and transparency of the federal government’s spending and more than six in ten Canadians agree with the idea that higher government spending over the past three years has contributed to higher inflation levels.
apple.news
While the 2.8 per cent inflation rate is positive, the reality of our economic situation is more complex. The quick deceleration is largely due to what’s known as the base effect: last year’s unusually high inflation, which peaked at 8.1 per cent in June 2022, makes the current rate seem low in comparison.
The slowdown was also largely driven by lower gasoline prices, which also peaked last June due to Russia’s invasion of Ukraine. The cost of essential goods, in particular food and housing, are still soaring. Grocery prices rose a punishing 9.1 per cent year-over-year.
Other findings include that two in three Canadians recognize that increased government spending contributes to inflation.
“Not only do Canadians find that the Trudeau government spends too much, but they also find that it spends unwisely,” said Renaud Brossard, senior director of communications at the MEI, in a statement. “This seems to indicate a disconnect between the Department of Finance and the people whose money is entrusted in its care.”
Quebec residents, in particular, have taken issue with the federal government’s spending, with 64 per cent of respondents in La Belle Province saying Ottawa is overspending.
Countrywide, 55 per cent of Canadians agree.
Adding to economic anxieties is the finding that fewer than one in four Canadians believe that the federal government is spending on the right things, while two in three respondents say their tax burden is too high.
Respondents were also more likely to be against carbon pricing (45 per cent) than in support (41 per cent), with the Atlantic provinces representing the strongest opposition at 68 per cent.
Majority of Canadians think Trudeau government spends too much and on the wrong things: poll — National Post
Fewer than one in four Canadians believe that the federal government is spending on the right things, while two in three say their tax burden is too high
Sabrina Maddeaux: We're not out of this inflationary mess yet due to reckless Liberal policies — National Post
June inflation numbers mask the storm clouds gathering on the horizon
The slowdown was also largely driven by lower gasoline prices, which also peaked last June due to Russia’s invasion of Ukraine. The cost of essential goods, in particular food and housing, are still soaring. Grocery prices rose a punishing 9.1 per cent year-over-year.