Economy
Once again, Canada will almost certainly fail to meet its target to reduce greenhouse gas emissions by 40 to 45 per cent by 2030 in accordance with the most recent Intergovernmental Panel on Climate Change (IPCC) recommendations.
This is despite the government’s optimistic spin on the release of its latest emissions inventory report. Jerry DeMarco, the environment commissioner in the Auditor General’s office, has criticized the government’s record as a litany of broken promises:
“We have been repeatedly ringing the alarm bells. Now, these bells are almost deafening.”
Canada is the only G7 nation with 2022 carbon emissions levels that are above its 1990 levels. It has among the highest greenhouse gas emissions per capita in the world, and its fossil fuel industry is also among the world’s largest.
And its financial institutions — banks, pension funds and private equity firms — fund the industry and are therefore helping fuel the climate crisis.
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Read MoreThe first order of business for a re-elected UCP government would be the Taxpayer Protection Amendment Act, or Bill 1, Danielle Smith vowed in Calgary Wednesday.
Speaking at a media availability, Smith said the legislation would ensure no government would be able to increase personal taxes or “taxes on job creators” without a referendum. She said it would expand on the Act’s present protections against a provincial sales tax.
In response to a question, she said it means moving ahead with a new tax bracket for those making less than $60,000 per year — which would save families up to $1,500 per working couple while saving everyone else about 20% on their tax bills. Bill 1 would also maintain the corporate tax rate of 8%. NDP leader Rachel Notley has proposed raising it to 11% or some 38% to fund her platform.
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Read MoreA loophole in a cabinet bill to curb usury would still allow payday lenders to charge 365 percent interest, the Department of Finance confirms. One senator described the clause in the bill as inexplicable.
“That does target vulnerable Canadians mostly,” said Senator Jim Quinn (N.B,). “Why wouldn’t we consider having a consistent application of the criminal rate? I am at a loss as to why we are not better protecting those most vulnerable.”
Bill C-47 the Budget Implementation Act lowers the maximum interest rate charged on most loans from the current 60 percent a year to about 42 percent. However it allows payday lenders to charge up to $14 on $100 typically loaned monthly or biweekly, the equivalent annual interest rate of 365 percent.
Speaking at the Senate legal and constitutional affairs committee, Senator Quinn questioned the exemption. “The annual percentage rate on $14 per $100 is still a very high rate, 300 percent or more,” said Quinn. “That’s a very high rate. I’m wondering why.”
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Read MoreThe Counter Signal
@TheCounterSgnl
Keean Bexte to UCP Devin Dreeshen: “How fast does the Carbon Tax come off the table if Justin Trudeau loses the next election?”
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Read MoreOTTAWA – Despite Liberal attacks, Canada’s budget watchdog is standing by his office’s analysis showing a rise in the cost of gasoline from Ottawa’s new fuel regulations, insisting that it is not his job to help promote government policies.
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The Parliamentary Budget Officer released on Thursday a distributional analysis of the Clean Fuel Regulations (CFR), showing how the new Liberal policy will increase the price of gas and diesel when the program is fully implemented by 2030. The PBO estimated that at the national level, in 2030, the cost of the CFR to households would range from $231 for lower-income households to $1,008 for higher-income households.
His analysis also showed that the impact will mostly be felt by lower-income households for whom the price difference represents a larger share of their disposable income. As a result, the PBO called the CFR “broadly regressive.”
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Read MoreWith just one week to go until Alberta’s provincial election, Peterson was more political than usual.
“Alberta is facing a very interesting election. It’s an election of international significance,” he said.
“You’ve got 10 days on a close election, and if the net zero types win, you’ll get exactly what you deserve. The whole world will,” Peterson added.
Peterson told the rally goers to call everyone they know and get them involved to take action against Rachel Notley’s NDP.
The Counter Signal’s Editor-in-Chief Keean Bexte attended the event, calling the atmosphere “edgy.”
“It’s like a Trump rally,” Bexte tweeted.
He added, “REMINDER: @jordanbpeterson and Rachel Notley grew up together. He called her party, and it’s members ‘resentful and bitter and false.’”
Commentator and author Rex Murphy also spoke at the event. Murphy told the crowd his pronouns were “The carbon tax is horseshit.”
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