Things aren't going to get better, no matter what anyone says:
Canadians remain concerned about their debt levels amid higher interest rates, a new report has found, with half expecting that economic circumstances will deteriorate further and that "the worst is yet to come."
That's according to MNP's quarterly Consumer Debt Index released Tuesday. While the Index rebounded from an all-time record low last quarter, rising 12 points to 89 points, Canadians are still worried about their indebtedness. Nearly half (46 per cent) said they are concerned with their current levels of debt (down from 47 per cent), and more than half (57 per cent) said if interest rates go up they will be in financial trouble (down from 59 per cent).
When asked about the impact of the current economic conditions, one third (35 per cent) said that Canada is currently in the worst part of the economic cycle while half (50 per cent) said they believe "the worst is yet to come."
"Facing inflation as well as sharply higher interest rates on their outstanding debts, deeply indebted Canadians may be rightfully feeling that the worst is yet to come,” MNP president Grant Bazian said in a statement.
“There isn’t much financial wiggle-room in many household budgets, illustrating the toll of higher interest rates, especially for those who can least afford it.”
The survey, which is conducted by Ipsos and tracks Canadians' attitudes towards their debt situation, also found that 46 per cent of Canadians feel they are on the brink of insolvency, defined as being $200 or less away from being unable to meet their financial obligations. While that figure has plateaued from last quarter, Canadians have less money left over at the end of the month as inflation weighs on household budgets. The average amount of money households have leftover fell $64 from the previous quarter to $787, the survey found.
A new report says more than 40 per cent of farm operators will retire over the next decade, leaving Canada with a shortage.
But your dear leader said that gas and oil weren't great business cases:
Canada is short thousands of oil and gas workers, Labour Minister Seamus O’Regan says in a report to Parliament. The industry payroll must grow by at least 13 percent, he said: “How many more workers does the government estimate are needed in the oil and gas industry?”
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in March, Spanish energy giant Repsol SA withdrew from a planned LNG project in New Brunswick.
— Norman Spector (@nspector4) April 11, 2023
High costs were blamed for Repsol’s decision, but Canada’s federal government is the real problem, according to New Brunswick Premier Blaine Higgs. “Trudeau stewardship is a disaster.… pic.twitter.com/OQK16MaBgF
Why should Canadians fund another foreign war, especially when the Crimea and Georgia weren't going concerns before?:
Taxpayers are sharply divided over ongoing financial aid for Ukraine, according to internal research by the Department of Finance. Canadians were more likely to oppose than support additional loans, subsidies and credits: “Support for Ukraine has helped the government continue to operate in the face of Russia’s illegal invasion.”
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