Happy New Year, Canada!:
Most private sector forecasts in Canada now assume there will be some kind of a recession in early 2023. Those forecasts assume that it will be short and mild.
But it doesn't take much to nudge a short and shallow recession into something much worse. In fact, researchers at Oxford Economics believe Canada has already slipped into a recession.
As I was saying.
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According to the report, the typical family of four, with two adults and two adolescent children, can expect to pay $16,288 to feed themselves next year. That's an increase of up to seven per cent, but some categories will be more expensive than others.
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With sky-high inflation, climbing interest rates and carbon tax hikes, you could be forgiven for drinking. But Prime Minister Justin Trudeau is rubbing margarita salt in the wound by using high inflation to binge on higher alcohol taxes.
In 2023, the Trudeau government is increasing the taxes you pay every time you buy a bottle of wine, a case of beer or a mickey of rum by 6.3%.
I'll just leave this right here:
Between December 2016 and December 2017, passengers aboard government aircraft consumed 401 bottles of wine, 584 cans of beer and five 250-millilitre bottles of vodka, at a total cost of $8,179.
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