Business

Inflation rises in August: Canada’s party leaders point fingers

Published

1 year ago

September 20, 2023

Deputy Prime Minister and Finance Minister Chrystia Freeland says the federal government is doing “everything it can” to help Canadians get through the “difficult” current economic period after Canada’s inflation rate increased to four per cent last month, once again sparking debate over the issue in the House of Commons Tuesday.

Meanwhile, opposition parties have been pointing fingers at the Liberals for August’s inflation numbers, with Conservative Leader Pierre Poilievre laying the blame for the increase at the feet of the government and NDP Leader Jagmeet Singh calling the Liberal plan to address rising grocery prices “frankly ridiculous.”

“Not only is inflation up, it is rising, and rising faster,” Poilievre said Tuesday. “Inflation in Canada, after eight years of Justin Trudeau, is not only high, but it is broad.”

“It is across all different products and services,” he added. “Whether you include or exclude food and gas, inflation is now double its target.”

Poilievre also criticized Freeland for asking “everyone to give her a pat on the back” in July when inflation numbers started to dip and called the now increasing numbers “entirely made in Canada” due to Liberal government spending.

August’s inflation numbers are the second consecutive monthly increase. The jumps come after Freeland called the inflation rate dropping to 2.8 per cent in June a “milestone moment” that Canadians should find some relief in.

Inflation and the cost of living also remained a focus of debate in the House of Commons on the second day of the fall sitting of Parliament Tuesday, with the prime minister going back and forth with Singh and Poilievre as the politicians debated who’s to blame.

Both Trudeau and Freeland pointed to recently announced measures to help tackle the affordability crisis, including removing the GST on the construction of new rental apartments in a bid to build faster and reduce housing costs and calling on the heads of the country’s largest grocery stores to come up with a plan to “stabilize” prices.

“We will continue to be here for Canadians, all while managing our finances responsibly,” Trudeau said in French.

“The Leader of the Opposition continues to talk down Canadians and talk down the Canadian economy and say that everything is broken,” he added. “We’re getting to work (on) helping Canadians through this difficult time.”

Meanwhile, Singh — who has been calling on the CEOs of Canada’s largest grocery chains to reduce their profit margins since last winter — said the Liberals’ plan to “stabilize” grocery prices is “ridiculous” and “a failure of leadership.”

“Canadians have been struggling with food prices for almost two years now and here’s the classic Liberal response,” Singh said during question period Tuesday. “They asked the CEOs of the big grocery stores to come to Ottawa to nicely ask them to stabilize the prices, not to bring them down, to stabilize them.”

With files from CTV News’ Senior Digital Parliamentary Reporter Rachel Aiello

Source link

Business

Carry On Canadian Business. Carry On!

Published

2 days ago

October 22, 2024

Steven Kaszab

Human Resources Officers must be very busy these days what with the general turnover of employees in our retail and business sectors. It is hard enough to find skilled people let alone potential employees willing to be trained. Then after the training, a few weeks go by then they come to you and ask for a raise. You refuse as there simply is no excess money in the budget and away they fly to wherever they come from, trained but not willing to put in the time to achieve that wanted raise.

I have had potentials come in and we give them a test to see if they do indeed know how to weld, polish or work with wood. 2-10 we hire, and one of those is gone in a week or two. Ask that they want overtime, and their laughter leaving the building is loud and unsettling. Housing starts are doing well but way behind because those trades needed to finish a project simply don’t come to the site, with delay after delay. Some people’s attitudes are just too funny. A recent graduate from a Ivy League university came in for an interview. The position was mid-management potential, but when we told them a three month period was needed and then they would make the big bucks they disappeared as fast as they arrived.

Government agencies are really no help, sending us people unsuited or unwilling to carry out the jobs we offer. Handing money over to staffing firms whose referrals are weak and ineffectual. Perhaps with the Fall and Winter upon us, these folks will have to find work and stop playing on the golf course or cottaging away. Tried to hire new arrivals in Canada but it is truly difficult to find someone who has a real identity card and is approved to live and work here. Who do we hire? Several years ago my father’s firm was rocking and rolling with all sorts of work. It was a summer day when the immigration officers arrived and 30+ employees hit the bricks almost immediately. The investigation that followed had threats of fines thrown at us by the officials. Good thing we kept excellent records, photos and digital copies. We had to prove the illegal documents given to us were as good as the real McCoy.

Restauranteurs, builders, manufacturers, finishers, trades-based firms, and warehousing are all suspect in hiring illegals, yet that becomes secondary as Toronto increases its minimum wage again bringing our payroll up another $120,000. Survival in Canada’s financial and business sectors is questionable for many. Good luck Chuck!. at least your carbon tax refund check should be arriving soon.

Steven Kaszab
Bradford, Ontario
skaszab@yahoo.ca

Business

Imperial to cut prices in NWT community after low river prevented resupply by barges

Published

2 days ago

October 22, 2024

Anne Joseph

NORMAN WELLS, N.W.T. – Imperial Oil says it will temporarily reduce its fuel prices in a Northwest Territories community that has seen costs skyrocket due to low water on the Mackenzie River forcing the cancellation of the summer barge resupply season.

Imperial says in a Facebook post it will cut the air transportation portion that’s included in its wholesale price in Norman Wells for diesel fuel, or heating oil, from $3.38 per litre to $1.69 per litre, starting Tuesday.

The air transportation increase, it further states, will be implemented over a longer period.

It says Imperial is closely monitoring how much fuel needs to be airlifted to the Norman Wells area to prevent runouts until the winter road season begins and supplies can be replenished.

Gasoline and heating fuel prices approached $5 a litre at the start of this month.

Norman Wells’ town council declared a local emergency on humanitarian grounds last week as some of its 700 residents said they were facing monthly fuel bills coming to more than $5,000.

“The wholesale price increase that Imperial has applied is strictly to cover the air transportation costs. There is no Imperial profit margin included on the wholesale price. Imperial does not set prices at the retail level,” Imperial’s statement on Monday said.

The statement further said Imperial is working closely with the Northwest Territories government on ways to help residents in the near term.

“Imperial Oil’s decision to lower the price of home heating fuel offers immediate relief to residents facing financial pressures. This step reflects a swift response by Imperial Oil to discussions with the GNWT and will help ease short-term financial burdens on residents,” Caroline Wawzonek, Deputy Premier and Minister of Finance and Infrastructure, said in a news release Monday.

Wawzonek also noted the Territories government has supported the community with implementation of a fund supporting businesses and communities impacted by barge cancellations. She said there have also been increases to the Senior Home Heating Subsidy in Norman Wells, and continued support for heating costs for eligible Income Assistance recipients.

Additionally, she said the government has donated $150,000 to the Norman Wells food bank.

In its declaration of a state of emergency, the town said the mayor and council recognized the recent hike in fuel prices has strained household budgets, raised transportation costs, and affected local businesses.

It added that for the next three months, water and sewer service fees will be waived for all residents and businesses.

This report by The Canadian Press was first published Oct. 21, 2024.

Source link

Business

U.S. vote has Canadian business leaders worried about protectionist policies: KPMG

Published

2 days ago

October 22, 2024

Anne Joseph

TORONTO – A new report says many Canadian business leaders are worried about economic uncertainties related to the looming U.S. election.

The survey by KPMG in Canada of 735 small- and medium-sized businesses says 87 per cent fear the Canadian economy could become “collateral damage” from American protectionist policies that lead to less favourable trade deals and increased tariffs

It says that due to those concerns, 85 per cent of business leaders in Canada polled are reviewing their business strategies to prepare for a change in leadership.

The concerns are primarily being felt by larger Canadian companies and sectors that are highly integrated with the U.S. economy, such as manufacturing, automotive, transportation and warehousing, energy and natural resources, as well as technology, media and telecommunications.

Shaira Nanji, a KPMG Law partner in its tax practice, says the prospect of further changes to economic and trade policies in the U.S. means some Canadian firms will need to look for ways to mitigate added costs and take advantage of potential trade relief provisions to remain competitive.

Both presidential candidates have campaigned on protectionist policies that could cause uncertainty for Canadian trade, and whoever takes the White House will be in charge during the review of the United States-Mexico-Canada Agreement in 2026.

This report by The Canadian Press was first published Oct. 22, 2024.

Source link