Tuesday, April 02, 2024

Enjoy the Decline

In progress ... 

 

Middle class Canadians say they are overtaxed and underappreciated, according to in-house Privy Council research. Focus groups nationwide told federal pollsters they were fed up with rising costs and “the high tax burden.”

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The insolvent SaltWire Network newspaper chain pocketed more than $5 million in taxpayers’ subsidies in one year while failing to pay its tax debts, Court records show. Creditors in filings with the Nova Scotia Supreme Court described SaltWire management as incompetent: ‘They mismanaged the business.’

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Our population grew by more than 3% last year, yet our GDP increased by less than 1%. While other industrialized economies, such as France and Germany, are experiencing worse economic headwinds, Canada’s economy is highly integrated with the world’s most robust economy at present. Despite our proximity to this economic superpower, the benefits of our geography seem to have stalled.

The most alarming aspect of the January GDP numbers is that Canada’s hottest economic sector is currently the public service, while private investments have stalled, largely due to higher interest rates. ...

For those in the food business, this is certainly not good news. Statistics Canada's reports on food and service sales confirm that consumers are dealing with less wealth while facing higher food and menu prices. As of January 2024, the average Canadian is spending $248 a month on food retail sales per capita, down from $258 in January 2023 and $282 in February 2017. These figures are all in real dollars, which makes the situation even worse. According to Canada's Food Price Report 2024, the recommended monthly expenditure for a healthy diet per individual is $339. Currently, the average monthly spending stands at $248. Until July 2021, Canadians were typically spending above the suggested budget for a nutritious diet. However, this is no longer the case. 

Now, we are facing increased risks as the carbon tax rises, without a clear understanding of its long-term effects on food prices. Canadians are either wasting less or finding alternative ways to source food outside conventional channels like grocery stores, such as dollar stores and non-traditional grocery discounters. Per capita food expenditures in our country have never been as low as they are now.

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Beyond shameful:

Canadian Forces personnel sent to Ottawa for specialized cyber training had to rely on donated food to make ends meet because of the lack of support from the military and the high cost of living in the city.

In other cases, soldiers went months without being reimbursed by National Defence for their expenses, creating even more financial hardship, according to military personnel who approached this newspaper with their concerns.

The recruits were not initially eligible for any housing allowance while in Ottawa.

In addition, while the troops finished their initial cyber specialist training, some are still delayed in advancing to the next phase as they have had to wait between 18 months to two years for security background checks.

Chief of the Defence Staff Gen. Wayne Eyre, who has said that the welfare of military members is one of his top priorities, did not respond to a request to provide comment.

But National Defence spokesperson Andrée-Anne Poulin acknowledged in an emailed statement the ongoing issues faced by the cyber trainees who travel to Ottawa for instruction at Willis College.

At one point Willis College staff had to create a “food cupboard” for the cash-strapped military personnel so they wouldn’t go hungry.

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Canada is not interested in selling liquid natural gas says the man whose wife owns shares in a natural gas company:

Canada is not interested in subsidizing future liquefied natural gas (LNG) projects, including electrification of projects currently in the works, Energy and Natural Resources Minister Jonathan Wilkinson said in a television interview on Sunday.

Countries including Greece, Germany and Japan have expressed interest in purchasing Canada's LNG while the United States has paused expansion of American LNG exports.

"The government is opposed to using government money to fund inefficient fossil fuel subsidies... We are not interested in investing in LNG facilities," Wilkinson said on CTV. "That's the role of the private sector. They need to assess the business case and make the investments."

The minister said meeting a 2030 target for reducing greenhouse gas emissions will require that LNG production rely on clean electricity.

Prime Minister Justin Trudeau's federal government have set targets to cut emissions of the gases by 2030 and requires new LNG proposals to also be net-zero emissions in the same time frame.

Trudeau has emphasized the economic difficulties for new projects of exporting LNG to Europe from Canada's Atlantic coast and the need to decarbonize the global energy supply to fight climate change.

 

 

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