Canada stymied by poor competitiveness and sluggish growth

[Anonymous]

And add into the mix the highest consumer debt in the OECD as well as ballooning deficits and tax creep and our economic prospects will be subpar for some time.



Ottawa — Canada's slow economic growth and poor competitiveness are undercutting its global interests, experts say, as the post-"sunny ways" version of the Trudeau government's foreign policy emerges Wednesday with the announcement of a new cabinet.



The key moving parts include a replacement for Foreign affairs minister Chrystia Freeland, who might be given a new domestic portfolio — perhaps deputy prime minister — and the fact that International Trade minister Jim Carr is fighting a form of blood cancer that makes him an unlikely candidate for a heavy travel schedule.



While managing Canada relations with the United states and China remain the paramount priorities, Canada's low-growth economy is eroding its broader standing on the world stage, said Trevin stratton, the chief economist of the Canadian Chamber of Commerce.



Canada's international ranking in a series of global surveys has continued to decline in recent months, including during the federal election campaign, he said.



That includes a drop in the World economic Forum's ranking of the productivity of G20 countries that saw Canada drop two positions to 14th place among 20 large advanced economies.



stratton said it is also significant that Canada has also fallen to 23rd place among countries in the World bank's "ease of doing business" ranking and fell in another index that ranks the soft power of 30 leading countries.



"It's important to keep in mind that when it comes to our place in the world and our reputation in the world this also has to do with our economy and also has to do with our competitiveness because if our economy is healthy then it communicates the opportunities that are available here," said stratton.



"The idea that soft power and competitiveness aren't linked, I don't believe in that."

[Anonymous]

And the new minority government will double down on what's not working.

[Anonymous]

And the new minority government will double down on what's not working.

Of course they will. Excessive regulatory burden is destroying competitiveness in Canada. We are dropping as an investment destination because red tape makes getting large industrial projects off the ground nearly impossible. The US simplified taxes and cut regulations while we do the opposite. If this is not reversed, we will see a further decline in living standards. Most US states have already surpassed Canadian provinces.

[Anonymous]

And the new minority government will double down on what's not working.

Of course they will. Excessive regulatory burden is destroying competitiveness in Canada. We are dropping as an investment destination because red tape makes getting large industrial projects off the ground nearly impossible. The US simplified taxes and cut regulations while we do the opposite. If this is not reversed, we will see a further decline in living standards. Most US states have already surpassed Canadian provinces.

Would you like this combined with the other thread about the Canadian economy Seoul?

[Anonymous]

There will not be a middle class in Canada by 2050.

[Anonymous]

There will not be a middle class in Canada by 2050.

Serves us frickin right.

[Anonymous]

There will not be a middle class in Canada by 2050.

Serves us frickin right.

What did you and I do to deserve lower living standards?

[Anonymous]

There will not be a middle class in Canada by 2050.

There's a lot of wealth in this country. Japan has been in decline for three decades, but the people have a lot of wealth. It takes more than one generation for nations as rich as Japan or Canada's living standards to drop below those of developed nations.

[Anonymous]

It's an uneven fight.



In the struggle between Alberta and Ottawa, Alberta premier Jason Kenney likely needs the Trudeau Liberals more than they need him.



Kenney is walking a very fine line. He's a federalist. Who knows, he may even harbour ambitions to return to federal politics some day.



That means Kenney needs to keep the growing Western independence movement – which includes the Wexit wildfire – at bay. But in order to do that, he needs some real, red-meat triumphs on issues that truly matter to Albertans and other Westerners.



Yet for Kenney to chalk up wins on just about any issue that truly infuriates Albertans (and stunts our economic growth), he needs the minority Liberal government to take bold action – action that will not be popular in the three areas in which Liberal support is rooted: the province of Quebec, the Greater Toronto Area and the core of Vancouver.



You can see Kenney's dilemma. For him to defuse Western alienation, he needs Prime Minister Justin Trudeau's government to act completely out of character. Liberals never act against their own electoral interests.



Meanwhile, the Liberals will be sure they can hold on to power (and maybe even return to majority) if they simply continue to demonize the West and the oil industry.



For instance, Kenney needs the Trudeau cabinet to approve the $20-billion Frontier oilsands project by February. The project has been OKed by federal and provincial regulators. And the company in charge, Teck Resources of Vancouver, has signed economic development agreements with all 14 First Nations and Metis communities in the region. Teck has even worked out a reclamations schedule that ensures bison herds in the area always have sufficient pasture.



But rather than Ottawa making guarantees on Trans Mountain and Frontier, my guess is the Liberals are much more likely to offer Albertans a couple of billion worth of lollipops – like programs to retrain oil workers to build wind turbines and solar farms.



Kenney met with Deputy Prime Minister Chrystia Freeland in Edmonton on Tuesday and reportedly laid out a list of wins he needs from the feds.



In addition to approval of oil and gas projects (and a willingness by the Trudeau government to stand up to the inevitable blockades by First Nations and eco-extremists), Kenney wants a repeal of the ban on tankers carrying Alberta oil off B.C.'s northern coast, "significant" changes to the new environmental assessment rules for future megaprojects and credit for the way exports of Alberta oil and gas (which are cleaner than the alternatives from many other countries) help reduce worldwide greenhouse emissions.



Oh, yeah. And Kenney wouldn't mind a good-faith rebate of $1.72 billion for equalization payments made in 2015 and 2016 when Alberta's economy was plunging into recession but the province's contribution to equalization for Quebec and other 'have-not' provinces was held at high, fixed amounts.



I know that sounds like a huge ask. Yet all of that is just for starters.



For instance, the equalization rebate would be nice, but that won't satisfy most Albertans who are tired of paying over $20 billion more to Confederation than they take out each and every year. A revamp of the entire system of fiscal federalism is needed.



And the Liberals not only have to stop obstructing energy projects and musing about "phasing out" fossil fuels, they actually have to create tax incentives to spark new projects and talk up the industry to re-establish investment in the sector.



I can't imagine the Trudeau Liberals taking even the first steps, much less shifting their entire way of thinking so they can satisfy Kenney's bigger demands. For every seat the Liberals might eventually win on the Prairies, they would lose three or four elsewhere.



Not gonna happen.

https://torontosun.com/opinion/columnists/gunter-kenney-walking-fine-line-over-western-alientation">https://torontosun.com/opinion/columnis ... lientation">https://torontosun.com/opinion/columnists/gunter-kenney-walking-fine-line-over-western-alientation



Canada needs the Ottawa to speed up approvals not stall and pass legislation that sends investors to the US. Do that and you can keep your retraining money insult.

[Anonymous]

We all know the Trudeau regime has played games blocking the prairies provinces economic development with TMX, NG, LNG Petronas, Energy East and the anti-Alberta Bills C-48 and C-69. But, hidden among all that economic acts of war is Teck's Frontier oilsands project which has met provincial, federal and Aboriginal approvals. The only thing standing in the way of this twenty billion dollar shot in the arm is approval from cabinet.

https://www.teck.com/media/Teck-Frontier-Mine-Process.png">

Frontier will employ up to 7,000 workers during peak construction and, once operational, will create an estimated 2,500 ongoing, direct jobs for more than four decades. 7,000 JOBS during peak construction.



Over its lifespan, it is estimated that Frontier will contribute $55 billion in provincial royalties and taxes, $12 billion in federal corporate income and capital taxes, and $3.6 billion in municipal property taxes, supporting government investments in hospitals, schools and more.



Cogeneration power

A cogeneration plant will provide Frontier's power needs. The system will capture waste heat and re-use it as energy for other areas of the project, improving efficiency and lowering overall emissions.



Treatment plant

Frontier will use a paraffinic froth treatment process which is much less energy intensive and reduces the carbon intensity of the oil

produced. The treatment facility will also maximize efficiency through use of heat exchangers.



Teck's global commitment to GHG reduction

Teck is already among the lowest GHG-intensity miners globally and we will be applying that experience to Frontier. To date, we have

reduced total GHG emissions across our mines by over 200,000 tonnes and we are working towards a 450,000-tonne reduction target by 2030.



Re-establishing habitat

Affected habitat will be reclaimed to generate a sustainable landscape designed to promote biological diversity. Mitigation measures will focus on re-establishing habitat through reclamation with forest vegetation and establishment of wetlands.



Protecting wildlife

The project will incorporate measures to protect wildlife from potentially harmful interaction with project activities. For example, we will incorporate bird deterrent systems like radar monitoring to reduce the potential for tailings areas-waterfowl interactions, and will avoid brush-clearing during bird breeding periods.



Health of fish populations

Safeguards will protect water quality, ecosystems and fish in watercourses and water bodies in the project area, and pit lakes will be able to support healthy, productive ecosystems. Project effects on fish habitat will be fully offset.

[sasquatch]

And did anybody think it was weird they waited until AFTER the election to drop this nugget? before, all you heard about is how great the economy was and everything, and now that Trudeau got his second term, this dropped. They should've told us this during the election, but they wanted that bailout.

[Anonymous]

We all know the Trudeau regime has played games blocking the prairies provinces economic development with TMX, NG, LNG Petronas, Energy East and the anti-Alberta Bills C-48 and C-69. But, hidden among all that economic acts of war is Teck's Frontier oilsands project which has met provincial, federal and Aboriginal approvals. The only thing standing in the way of this twenty billion dollar shot in the arm is approval from cabinet.

https://www.teck.com/media/Teck-Frontier-Mine-Process.png">

Frontier will employ up to 7,000 workers during peak construction and, once operational, will create an estimated 2,500 ongoing, direct jobs for more than four decades. 7,000 JOBS during peak construction.



Over its lifespan, it is estimated that Frontier will contribute $55 billion in provincial royalties and taxes, $12 billion in federal corporate income and capital taxes, and $3.6 billion in municipal property taxes, supporting government investments in hospitals, schools and more.



Cogeneration power

A cogeneration plant will provide Frontier's power needs. The system will capture waste heat and re-use it as energy for other areas of the project, improving efficiency and lowering overall emissions.



Treatment plant

Frontier will use a paraffinic froth treatment process which is much less energy intensive and reduces the carbon intensity of the oil

produced. The treatment facility will also maximize efficiency through use of heat exchangers.



Teck's global commitment to GHG reduction

Teck is already among the lowest GHG-intensity miners globally and we will be applying that experience to Frontier. To date, we have

reduced total GHG emissions across our mines by over 200,000 tonnes and we are working towards a 450,000-tonne reduction target by 2030.



Re-establishing habitat

Affected habitat will be reclaimed to generate a sustainable landscape designed to promote biological diversity. Mitigation measures will focus on re-establishing habitat through reclamation with forest vegetation and establishment of wetlands.



Protecting wildlife

The project will incorporate measures to protect wildlife from potentially harmful interaction with project activities. For example, we will incorporate bird deterrent systems like radar monitoring to reduce the potential for tailings areas-waterfowl interactions, and will avoid brush-clearing during bird breeding periods.



Health of fish populations

Safeguards will protect water quality, ecosystems and fish in watercourses and water bodies in the project area, and pit lakes will be able to support healthy, productive ecosystems. Project effects on fish habitat will be fully offset.

One of the most technologically advanced mines on earth. Science says it's safe, and the Indians approved it. But, Justine  wants the jobs and revenue to go to OPEC.

[Anonymous]

We all know the Trudeau regime has played games blocking the prairies provinces economic development with TMX, NG, LNG Petronas, Energy East and the anti-Alberta Bills C-48 and C-69. But, hidden among all that economic acts of war is Teck's Frontier oilsands project which has met provincial, federal and Aboriginal approvals. The only thing standing in the way of this twenty billion dollar shot in the arm is approval from cabinet.

https://www.teck.com/media/Teck-Frontier-Mine-Process.png">

Frontier will employ up to 7,000 workers during peak construction and, once operational, will create an estimated 2,500 ongoing, direct jobs for more than four decades. 7,000 JOBS during peak construction.



Over its lifespan, it is estimated that Frontier will contribute $55 billion in provincial royalties and taxes, $12 billion in federal corporate income and capital taxes, and $3.6 billion in municipal property taxes, supporting government investments in hospitals, schools and more.



Cogeneration power

A cogeneration plant will provide Frontier's power needs. The system will capture waste heat and re-use it as energy for other areas of the project, improving efficiency and lowering overall emissions.



Treatment plant

Frontier will use a paraffinic froth treatment process which is much less energy intensive and reduces the carbon intensity of the oil

produced. The treatment facility will also maximize efficiency through use of heat exchangers.



Teck's global commitment to GHG reduction

Teck is already among the lowest GHG-intensity miners globally and we will be applying that experience to Frontier. To date, we have

reduced total GHG emissions across our mines by over 200,000 tonnes and we are working towards a 450,000-tonne reduction target by 2030.



Re-establishing habitat

Affected habitat will be reclaimed to generate a sustainable landscape designed to promote biological diversity. Mitigation measures will focus on re-establishing habitat through reclamation with forest vegetation and establishment of wetlands.



Protecting wildlife

The project will incorporate measures to protect wildlife from potentially harmful interaction with project activities. For example, we will incorporate bird deterrent systems like radar monitoring to reduce the potential for tailings areas-waterfowl interactions, and will avoid brush-clearing during bird breeding periods.



Health of fish populations

Safeguards will protect water quality, ecosystems and fish in watercourses and water bodies in the project area, and pit lakes will be able to support healthy, productive ecosystems. Project effects on fish habitat will be fully offset.

One of the most technologically advanced mines on earth. Science says it's safe, and the Indians approved it. But, Justine  wants the jobs and revenue to go to OPEC.

All this federal government cares about is winning seats in Toronto, Montreal and Vancouver.

[Thiel]

We all know the Trudeau regime has played games blocking the prairies provinces economic development with TMX, NG, LNG Petronas, Energy East and the anti-Alberta Bills C-48 and C-69. But, hidden among all that economic acts of war is Teck's Frontier oilsands project which has met provincial, federal and Aboriginal approvals. The only thing standing in the way of this twenty billion dollar shot in the arm is approval from cabinet.

https://www.teck.com/media/Teck-Frontier-Mine-Process.png">

Frontier will employ up to 7,000 workers during peak construction and, once operational, will create an estimated 2,500 ongoing, direct jobs for more than four decades. 7,000 JOBS during peak construction.



Over its lifespan, it is estimated that Frontier will contribute $55 billion in provincial royalties and taxes, $12 billion in federal corporate income and capital taxes, and $3.6 billion in municipal property taxes, supporting government investments in hospitals, schools and more.



Cogeneration power

A cogeneration plant will provide Frontier's power needs. The system will capture waste heat and re-use it as energy for other areas of the project, improving efficiency and lowering overall emissions.



Treatment plant

Frontier will use a paraffinic froth treatment process which is much less energy intensive and reduces the carbon intensity of the oil

produced. The treatment facility will also maximize efficiency through use of heat exchangers.



Teck's global commitment to GHG reduction

Teck is already among the lowest GHG-intensity miners globally and we will be applying that experience to Frontier. To date, we have

reduced total GHG emissions across our mines by over 200,000 tonnes and we are working towards a 450,000-tonne reduction target by 2030.



Re-establishing habitat

Affected habitat will be reclaimed to generate a sustainable landscape designed to promote biological diversity. Mitigation measures will focus on re-establishing habitat through reclamation with forest vegetation and establishment of wetlands.



Protecting wildlife

The project will incorporate measures to protect wildlife from potentially harmful interaction with project activities. For example, we will incorporate bird deterrent systems like radar monitoring to reduce the potential for tailings areas-waterfowl interactions, and will avoid brush-clearing during bird breeding periods.



Health of fish populations

Safeguards will protect water quality, ecosystems and fish in watercourses and water bodies in the project area, and pit lakes will be able to support healthy, productive ecosystems. Project effects on fish habitat will be fully offset.

I was unaware of this project. Thank you seoulbro for telling us about this.

[Anonymous]

By Colin Craig of Secondstreet.org



Canadian government's milk policy costs consumers dearly



"I knew there was a difference in the cost of milk and dairy in Canada versus the United States, but I didn't actually know it was that big." That's what Melissa From told Secondstreet.org when we sat down with her to compare milk prices between Canada and the United States. Melissa and her husband live just outside of Calgary and they have two young children so milk is in high demand.



Our research compared milk prices in 15 U.S. cities and 15 Canadian cities and concluded Canadian prices averaged almost thirty cents more per litre than in the U.S. (after taking exchange rates into account).



For instance, in Toronto, a litre of milk cost $1.10 yet just over the border in a suburb of Buffalo milk was just 62 cents (Cdn). In Calgary, a 2% jug of milk cost $1.14 per litre, but just over the border in Montana, the price worked out to 69 cents per litre (Cdn). An extra 30 cents per litre doesn't sound like a lot of money, but for a family like Melissa's, that purchases eight litres of milk a week, the extra cost adds up quick. Melissa estimated that her family is spending an extra $100 or so more each year on milk compared with what Americans pay for the same volume. But it doesn't have to be this way.



A key reason why milk prices are higher in Canada than in the United States is a policy in Canada known as "supply management."



Simply put, supply management means that the government controls how much milk, cheese, dairy and poultry products are produced each year by each farm. The government also regulates the price of those products. If production quotas are exceeded, perfectly good products are dumped.



But not only does the government ration these products, it also imposes very large tariffs on imports.



Together, these policies drastically reduce competition and lead to higher prices for Canadian consumers for milk, cheese, and your Christmas turkey to name a few products.



It would be one thing if these policies were designed to help out small farms in need, but Statistics Canada data suggests the average net worth of dairy farms in Canada was $4.3 million in 2017. For poultry farmers, their net worth was $6.0 million.



Thus, the government's supply management system means consumers pay high prices to support some pretty wealthy farms.



Another common argument supply management proponents often put forward is that milk coming out of a Canadian cow's udder is somehow better than the milk from an American cow's udder.



It's true that a small percentage of dairy producers in the U.S. use a hormone to help produce milk that isn't allowed in Canada. But if the hormone is the stumbling block to allowing foreign milk into Canada (increasing competition), the government could simply require that any milk with hormones in it be clearly labelled; allowing Canadian consumers to choose for themselves.



Moreover, opening the market in Canada would also open up new markets for Canadian farmers to export their products.



There's lots of talk in Ottawa these days about helping the middle class. Phasing out supply management could do just and wouldn't cost taxpayers a penny.



Greater competition, it does your wallet good.