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  #2681  
Old Posted Mar 15, 2017, 11:30 PM
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^ This is encouraging. Startups is actually not an area we do well in; a good chunk of the current tech boom is actually branch offices of American companies, drawn here by lower costs of doing business.
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  #2682  
Old Posted Mar 15, 2017, 11:37 PM
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Quote:
Originally Posted by SignalHillHiker View Post
Latest polls in Newfoundland and Labrador have us still devoted to Trudeau but turning against the provincial Liberals.

Federal Support
Liberal: 70% (down from 76%)
Conservative: 19% (13%)
NDP: 10% (10%)

Provincial Support
Progressive Conservative: 39% (up from 23%)
Liberal: 33% (66%)
NDP: 26% (11%)

71% are Mostly or Completely dissatisfied with the performance of the provincial government.
On the flip side, that's actually a big improvement for the provincial Liberals compared to where they were about a year ago.
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  #2683  
Old Posted Mar 15, 2017, 11:38 PM
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Originally Posted by 1overcosc View Post
^ This is encouraging. Startups is actually not an area we do well in; a good chunk of the current tech boom is actually branch offices of American companies, drawn here by lower costs of doing business.
Ya, the article has a good piece on that at the end, talking about Canada's opportunity right now to attract big US firms.

The good thing is that usually leads to more start-ups as educated experienced workers leave the big firms to do their own thing.

Very exciting times for Canada's tech scene right now that's for sure!
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  #2684  
Old Posted Mar 15, 2017, 11:43 PM
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The budget comes as Alberta’s economy slowly begins to rebound from a drop in oil prices that drained billions of dollars from the government’s bottom line.

Finance Minister Joe Ceci, speaking to reporters Tuesday, said the budget will continue to focus on spending for front-line services, but will also show how Alberta is working to reduce costs and lower the deficit.

Ceci said while the economy shows signs of rebounding, Albertans still need help, and he said that makes a deficit budget inevitable.

“Acting as a shock absorber does not mean that you throw Albertans and their ability to get services and programs out the window,” said Ceci.

“We’re going to invest in the things that are necessary, and doing that means that we need to run a deficit. That’s not going to be a surprise for anybody, I think.”

This year, Alberta is on track to run a $10.8-billion deficit. The interest on debt payments has surpassed $1 billion and government borrowing exceeds $32 billion.

Progressive Conservative Leader Ric McIver said he’s skeptical the budget will have measures to reduce spending.

“I’ll believe it when I see it,” said McIver.

“I think you’re going to see them spending their brains out, borrowing their brains out and putting Albertans in a bigger hole than they’ve ever been in before.”

Ceci made his comments at a traditional pre-budget photo-op where the finance minister presents new shoes to wear on budget day.

This year, Ceci instead presented a new pair of soccer cleats to a youngster to symbolize Alberta’s commitment to families.
http://globalnews.ca/news/3309307/al...line-spending/
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  #2685  
Old Posted Mar 15, 2017, 11:55 PM
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Quote:
Originally Posted by LeftCoaster View Post
Some good results for Canada's tech scene:


http://www.geektime.com/2017/03/14/v...global-report/

Give the report a read, it's a good analysis.
Thank you very much for posting! It is very well done. Great news for Canada.
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  #2686  
Old Posted Mar 22, 2017, 9:58 PM
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Tourist from China up 55% in January

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The tourism industry is “booming” in British Columbia, according to provincial government data that showed increases in visits from several different countries.

Overall, tourist visits grew more than 9% year-over-year in January. The biggest boost came from China; visits from that country increased almost 56%. This was followed by increases in visitors from Australia (up 37%), Mexico (up 37%) and the United Kingdom (22%). A government press release said one of the biggest influences on the number of tourists is direct flights. The number of non-stop flights between Vancouver and airports in mainland China, Hong Kong and Taipei has been increasing steadily over the past year, and this trend is expected to continue. In January, there were 84 direct flights per week, and this is expected to increase to 104 by July.

“Both China and Australia saw increases in air capacity to British Columbia,” the press release said. “These new flights are due in part to the province eliminating the international jet fuel tax which has reduced costs for airlines.”

According to the B.C. government, each new flight creates 150-200 new jobs at Vancouver International Airport.
https://www.biv.com/article/2017/3/t...na-55-january/
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  #2687  
Old Posted Mar 22, 2017, 10:05 PM
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Direct flights + cheap dollar = tourist delight!
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  #2688  
Old Posted Mar 22, 2017, 10:36 PM
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BC Economy Still Healthy...But Growth Will Downshift in 2017
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Following three years in which BC topped the provincial growth charts, in 2017 our economy will lose a bit of momentum. Real gross domestic product (GDP) is forecast to expand at a slightly below average pace of 2.2%, with a similar performance in 2018.

The slowdown in BC’s real estate/housing complex, particularly in Metro Vancouver, is a key reason why overall economic growth is projected to slow this year and next.
Despite an improved global economic backdrop, BC’s export growth is expected to slow after a solid advance in 2016.
The tourism, film and television industries, benefitting from the weak Canadian dollar, posted rising levels of activity over the past couple of years. Growth in these sectors is also set to moderate, in part because the recent pace of growth simply cannot be sustained.
BC’s labour market should remain quite healthy, with the unemployment rate continuing to edge lower over the forecast horizon. Job creation, however, will slow after 2016’s outsized jump in employment.
Consumer spending is forecast to remain solid, but it too will slow after two years of brisk gains.
http://www.bcbc.com/publications/201...nshift-in-2017
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  #2689  
Old Posted Mar 25, 2017, 10:41 PM
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The following report was published by RBC on March 22, 2017. It shows annual deficits and total debt for each province. I think that my home province of Nova Scotia has done a good job of reining in its deficits over the past 20 years. During that time, 1995-1996 to 2015-2016, it has gone from $8.7 billion dollars debt to $15.1 billion, which is good compared to some other provinces.

http://www.rbc.com/economics/economi...rov_fiscal.pdf
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  #2690  
Old Posted Mar 28, 2017, 9:43 PM
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Quebec budget 2017: Trains, cash for education, tax cuts for austerity-weary Quebecers

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With a projected surplus of nearly $2.5 billion for 2017-2018, those ministries will see overall spending increased by 4.4 and 4.3 per cent respectively.
Quote:
But 2015 also represented a turning point in Quebec's wrestling match with public debt. Since then, the province's gross debt as a percentage of GDP has declined, and it's projected to continue decreasing into the near future.
http://www.cbc.ca/news/canada/montre...2017-1.4042479

balanced budget expected for the next 5 years.
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  #2691  
Old Posted Mar 28, 2017, 9:54 PM
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Those tax cuts are small but every bit helps considering how high taxes in Quebec are compared to the rest of the continent.

The extended period of no deficits is very good; Quebec's debt-to-GDP ratio was starting to get dangerously high in the late 2000s/early 2010s.
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  #2692  
Old Posted Mar 28, 2017, 10:00 PM
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I'm jealous of Quebec's good economy.

Things are bottoming out in Saskatchewan
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  #2693  
Old Posted Mar 28, 2017, 10:05 PM
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Originally Posted by 1overcosc View Post
Those tax cuts are small but every bit helps considering how high taxes in Quebec are compared to the rest of the continent.

The extended period of no deficits is very good; Quebec's debt-to-GDP ratio was starting to get dangerously high in the late 2000s/early 2010s.
Debts due to infrastructure investments are less "dangerous" than those resulting from accumulated deficits.­ <-- $120B , 31% of GDP
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  #2694  
Old Posted Mar 28, 2017, 10:38 PM
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Does this mean Quebec finally stops mooching off the collective Canadian teat through transfer payments? Guessing a big fat no?
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  #2695  
Old Posted Mar 28, 2017, 11:31 PM
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Does this mean Quebec finally stops mooching off the collective Canadian teat through transfer payments? Guessing a big fat no?
Actually, given how much Quebec's economic situation is improving it's actually quite foreseeable that Quebec loses its equalization payments within a few years. The equalization formula does have a lag, in that changes to economic situations don't result in changes to payments for a while--hence why Ontario is still receiving payments--so it might take some time, but the trajectory is definitely there.
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  #2696  
Old Posted Mar 28, 2017, 11:34 PM
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It would be interesting to see what impact this would have on federalism in the province if Quebec started to be paying the ROC as opposed to the traditional other way around.
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  #2697  
Old Posted Mar 28, 2017, 11:38 PM
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Originally Posted by 1overcosc View Post
Actually, given how much Quebec's economic situation is improving it's actually quite foreseeable that Quebec loses its equalization payments within a few years. The equalization formula does have a lag, in that changes to economic situations don't result in changes to payments for a while--hence why Ontario is still receiving payments--so it might take some time, but the trajectory is definitely there.
I don't think we will. things don't work that way
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Last edited by GreaterMontréal; Mar 29, 2017 at 2:23 AM.
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  #2698  
Old Posted Mar 29, 2017, 2:16 AM
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Quebec and soon Ontario with balanced budgets and Liberal governments.
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  #2699  
Old Posted Mar 29, 2017, 2:55 AM
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People really need to learn the difference between equalization and transfer payments.
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  #2700  
Old Posted Mar 29, 2017, 4:08 AM
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People really need to learn the difference between equalization and transfer payments.
There are two big flaws in the way most people think about transfers. The first is that people don't realize that equalization is only one part of the federal-provincial transfer system, and that there are other bigger parts that go to every province.

Equalization will be $18B out of $72B of transfers in 2017-2018. Canada's GDP is about $2 trillion.

The other big misunderstanding is that people don't realize that all federal taxpayers in all provinces and territories pay in to the system, because the transfers simply come out of the federal budget. They're not transfers from some provinces to other provinces. So even when a province collects equalization, its net benefit from the program is less than the dollar amount it collects. The net impact of equalization works out to maybe 0.5% of the size of the overall Canadian economy.

Another thing people probably don't know is that territorial funding is, on a per capita basis, huge compared to equalization. The territories get as much from their territorial transfers as Atlantic Canada gets in equalization. Atlantic Canada's population is more than 20 times larger. Meanwhile Quebec gets less per capita than, say, Manitoba. I rarely see rants about Manitoba or the Yukon sucking at the federal teat.
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