Economy

No Chance Of Meeting Target

By Valerie / May 28, 2024 /

There is no chance Housing Minister Sean Fraser will reach his target of 3.9 million new housing starts by 2031, builders yesterday told the Commons human resources committee. Even a costly tax holiday for apartment builders will not avert further slowdowns in construction, MPs were told.

“We are staring into a pit,” said Richard Lyall, president of the Residential Construction Council of Ontario. “What we are saying is that when cranes are coming down they are not going back up.”

Housing starts average 244,000 annually, a third of the number needed to meet cabinet’s target. Starts fell seven percent last year, by CMHC estimate.

Read More

Feds blamed for increase in contraband tobacco Business leaders call on feds to do something about increase in contraband tobacco across Canada.

By Valerie / May 28, 2024 /

At the Alberta Chamber of Commerce AGM in Red Deer, business leaders called on the federal Liberals to address the increasing sale of contraband tobacco across the country that’s frequently shipped through Canada Post.

Read More

Alberta warns emissions cap will devastate Canada’s economy and jobs

By Valerie / May 28, 2024 /

Alberta is warning hundreds of billions in revenue and thousands of jobs are at risk if the Liberal government moves ahead with its oil and gas emissions cap.

The province cited an S&P study that analyzed the economic impact of the controversial cap.

Alberta Premier Dan

Read More

Canada’s ‘stagflation’ expected to continue for decades: study

By Valerie / May 28, 2024 /

Several economists have forewarned that Canada’s poor economic growth is far from over, however, a new report is suggesting it may be here to stay for the next two decades.

Canadian financial firm Omnigence published a study that forecasts Canada is moving toward a “protracted bout of stagflation” that will drive the country into even higher inflation and continued low growth.

“It seems plausible that Canada will continue to experienc

Read More

Top 10 Threats to Canada Include Blurring of Truth, Powerful Billionaires, and Ecosystem Collapse: Federal Panel

By Roli / May 28, 2024 /

Truth could become indistinguishable from lies in 2.5 years, cyberattacks could disable critical infrastructure in four years, billionaires could be running the world in 4.5 years, and vital natural resources could run short in eight years, according to a federal panel tasked with imagining 35 “plausible” catastrophes.

The list of threats was created by federal policy advisory body Policy Horizons Canada, which ranked the disasters by potential impact and timelines. Threats that made the top-10 ranking included ecosystem collapse, artificial intelligence run amok, health-care system collapse, a breakdown of democratic systems, overwhelmed emergency response, and widespread downward mobility.

“Predicting the next big upheaval may not be possible, but it is crucial to explore possible disruptions and anticipate potential future scenarios. Even seemingly distant or improbable events and circumstances can suddenly become reality,” the panel wrote in its report, titled “Disruptions on the Horizon.”

Read More

Number of New German Citizenships Being Handed Out Hits Another High, Large Numbers of Syrians

By Valerie / May 28, 2024 /

Germany saw another big increase in the number of people gaining citizenship last year as large numbers of people from Syria helped push naturalizations up to their highest level since at least 2000, according to official data released Tuesday.

About 200,100 people were granted German citizenship in 2023, the Federal Statistical Office said. That was an increase of about 31,000, or 19%, compared with the previous year.

The increase followed a 28% rise in 2022, which also was fueled by large numbers of Syrians being naturalized as increasing numbers of people who migrated to Germany between 2014 and 2016 fulfilled the requirements for citizenship.

Read More

Plurality of British Public Want a Total Freeze on Non-Essential Immigration: Poll

By Valerie / May 28, 2024 /

Nearly half of the British public wants a total freeze on all non-essential immigration into the country, but do not trust either of the two main political parties to cut the number of foreigners allowed into the UK.

A survey conducted by the Centre for Migration Control has found that a plurality of the public agrees that “Britain should have a five-year freeze on all further immigration that is not essential to supporting the NHS”, with 32 per cent strongly agreeing and 17 per cent tending to agree, compared to 13 per cent who tended to disagree and 11 per cent who strongly disagreed.

Read More

Halfway Between Kyoto and 2050: Zero Carbon Is a Highly Unlikely Outcome

By Valerie / May 28, 2024 /

This essay evaluates past carbon emission reduction and the feasibility of eliminating fossil fuels to achieve net-zero carbon by 2050.
Despite international agreements, government spending and regulations, and technological advancements, global fossil fuel consumption surged by 55 percent between 1997 and 2023. And the share of fossil fuels in global energy consumption has only decreased from nearly 86 percent in 1997 to approximately 82 percent in 2022.
The first global energy transition, from traditional biomass fuels such as wood and charcoal to fossil fuels, started more than two centuries ago and unfolded gradually. That transition remains incomplete, as billions of people still rely on traditional biomass energies for cooking and heating.
The scale of today’s energy transitio

Read More

Quality of life in Calgary down, economic outlook dismal, survey says

By Iron Will / May 27, 2024 /

Calgarians believe quality of life in the city has decreased, according to a new survey.

The data, set to be reviewed by council Tuesday, says those surveyed for Calgary’s spring research reported lower satisfaction with quality of life measures.

Just over 70 per cent of Calgarians say their quality of life is good, down five per cent from the fall of 2023, while 69 per cent say Calgary is a great place to live down from 75 per cent.

When asked if Calgary is a great place to make a living, just 63 per cent of respondents said yes, down from 70 per cent.

Read More

Canada to Become Only NATO Member Missing Defence Spending Target in 2024, US Ambassador Says

By Iron Will / May 27, 2024 /

U.S. Ambassador to Canada David Cohen says Canada may soon become the only NATO member failing to meet the minimum defence spending requirement of 2 percent.

“At the end of 2024, the way projections are looking, Canada will be the only country in NATO that is not spending at least 2 percent of its GDP on defence and does not have a plan to get there,” Mr. Cohen said in a May 26 interview with Global News. “Canada has moved within NATO from being a bit of an outlier to being the outlier in the entire alliance.”

His remarks come two days after a bipartisan group of 23 U.S. senators wrote a letter urging Prime Minister Justin Trudeau to meet Canada’s NATO spending obligations.

Under Canada’s new defence policy, the federal government estimates its defence spending will rise to 1.76 percent of the country’s gross domestic product (GDP) by 2029-30.

Read More