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Impolitical (Free subscription) | yesterday
A few big developments today... First, it will apparently have to be something else in the way of distraction for the strategists in the PMO: "Flaherty Wins Bloc Support to Merge Sales Taxes With Provinces." Canadian Finance Minister Jim Flaherty won the support of the opposition Bloc Quebecois for a bill that would allow provinces such as Ontario and British Columbia to merge local sales...
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Canadian Cynic (Free subscription) | yesterday
Uh oh : Federal deficit grew $5B in September Heading toward biggest shortfall in country's history Ottawa added another $5 billion to its 2009-10 budget deficit in September, the Finance Department reported Friday. Spending has outpaced revenue for the fiscal year that started in April by $28.6 billion. That means the government is on track to meet Finance Minister Jim Flaherty's latest prediction...
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Macleans.ca (Free subscription) | yesterday
The sketch for November 27, 2008. “The greatest histories,” Jim Flaherty mused about a half hour into explaining the state of the national economy, “are written in the toughest times.” Shortly thereafter, he was finished. And shortly after his final words, he and the Prime Minister took their leave, long gone by the time Scott Brison, Gilles [...]
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CalgaryGrit (Free subscription) | 11/26/2009
Flaherty to axe subsidies to political parties in fiscal update: sources The Conservatives are poised to eliminate the public subsidies that Canada's five major political parties receive, a move that would save $30 million a year but could cripple the opposition. Sources told CBC News and other media outlets Wednesday that the subsidy cut is one of the key elements of the fiscal update that Finance...
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Pension Pulse (Free subscription) | 11/25/2009
Karen Mazurkewich reports that according to a survey, plan sponsors worry about pensions : The swell of negative pension news continues. RBC Dexia released a poll Monday revealing that the majority of Canadian plan sponsors are pessimistic about the future of their pension plans. According to their survey, 89% of defined-benefit plan sponsors are concerned that the pension system is poorly positioned...
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Foreign Exchange Outlook (Free subscription) | 11/24/2009
Market Update - GBP CAD We've had a very mixed bag of data for the pound over the last week. Public sector borrowing was far higher than expected for October (£11bn versus £7bn expected) and traders are still concerned that further quantitative easing may lie ahead after last week's Bank of England minutes revealed that one MPC member voted for a £40bn increase. On the plus side,...
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Banknerd.ca (Free subscription) | 11/22/2009
Federal Finance Minister Jim Flaherty warned companies and banks that if they do not comply with a proposed voluntary code of conduct for the credit and debit card markets, he will be bring down the “hammer” of regulation. The code, which is designed to address merchants’ claims they are being unfairly treated, draws more cautious responses [...]
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Canadian Cynic (Free subscription) | 11/21/2009
There's the news of the day : Weak growth delays Flaherty attack on deficit As Canada's economy struggles to gain momentum, Jim Flaherty faces a delicate balancing act. On one side, he says the economy is stable enough that no new stimulus measures are required. On the other, it's not strong enough to allow the government to tackle its massive deficits. And there's the mullet that walks like a man...
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CBC.ca (Free subscription) | 11/21/2009
Rather than turning off the stimulus taps or pouring more fuel on the economic fire, Ottawa will stand pat with the $61 billion in stimulus spending announced in January, Finance Minister Jim Flaherty says.
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Globe and Mail (Free subscription) | 11/20/2009
Government will look at possible spending cuts only after economic recovery is entrenched, Finance Minister says
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ForestTalk (Free subscription) | 11/20/2009
Finance Minister Jim Flaherty has agreed to meet with the management of AbitibiBowater and the Communications, Energy and Paperworkers Union (CEP) concerning the company's pension shortfall. Flaherty encouraged the two parties to meet the provincial governments first, because such pension arrangements fall in their jurisdictions, and "then he'll sit down and meet with them." Read more: Canada...
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Stageleft:. Life on the left side (Free subscription) | 11/20/2009
The Bunker's Surveillance Bureau has obtained the draft text of Finance Minister Jim Flaherty's Financial Update. We assume there will be some edits prior to delivery.
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Globe and Mail (Free subscription) | 11/20/2009
The Finance Minister buys a board game instead of selling Crown assets - and Jean-Pierre Blackburn brags about his billions
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atHome Top Story (Free subscription) | 11/20/2009
Federal Finance Minister Jim Flaherty warned card companies and banks if they don't comply with a proposed voluntary code of conduct for the multibillion-dollar credit and debit markets he would bring down the hammer of regulation.
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Michael James on Money (Free subscription) | 11/20/2009
1. Finance Minister Jim Flaherty has finally come out with new proposed rules for credit and debit cards (thanks to Lyne who found this link for me). 2. Rob Carrick collected together several proposals for improving TFSAs . Most of them amount to increasing the amount that Canadians can contribute to a TFSA, in some case favouring older people. These sound great for old rich people (something I aspire...
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