It's Just Money

Indeed:

The Trudeau government gave $20 million to a venture capital investment company that the Liberal Heritage Minister Steven Guilbeault advised.

Guilbeault was an adviser to Cycle Capital Management (the organization that received this federal funding). According to his LinkedIn, the Liberal minister worked for the organization as a strategic councilor.

As well as this, the Office of the Ethics Commissioner states that Guilbeault had received income from a contract with Cycle Capital Management within the last 12 months. Cycle Capital Management made the $20 million government funding announcement this February.

  

(Sidebar: nothing about this sounds scandalous or repetitive at all!)

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Each federal employee costs $115,000 a year on average, the Parliamentary Budget Office said yesterday. The Office in a report estimated federal labour costs had grown at almost double the rate of inflation for the past twelve years: “In 2019 the average federal compensation per full-time equivalent (employee) was about $115,000.”

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The Trudeau Liberals will be granting Toronto with $14 million in taxpayer dollars to run quarantine facilities for those who are unable to stay at home.

The announcement was made by Health Minister Patty Hajdu from city hall, alongside Toronto Mayor John Tory and Dr. Eileen de Villa, the city's medical officer of health.

The announcement came after days of Ontario cases reaching nearly 200 new confirmed cases a day—rates that mirror those of the early pandemic.

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Cabinet yesterday approved millions in new subsidies for tidal power projects despite steep losses for taxpayers in past failures. The Department of Natural Resources called new funding a measure to fight climate change: “Investing in tidal energy helps get us to zero emissions.”

Canadians elected a government whose spending habits reflect their own:

Mortgage deferrals since March have grown at more than a billion per month and now pose a risk on defaults, CMHC said yesterday. The federal insurer estimated 760,000 homeowners have skipped or deferred payments: “Big banks are charging interest on interest.”

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Canada’s household debt ratio registered a significant decline between April and June, as the government rolled out extensive income-support measures linked to the novel coronavirus pandemic, Statistics Canada said on Friday.

The agency said household credit market debt as a proportion of household disposable income dropped to a seasonally adjusted 158 per cent, down from 175 per cent in the previous quarter.

 

Rather, someone else picked up the bill but with no money coming in, there was less household spending. 

(Paws up)