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Canadian Economic News

A federal economic stimulus package will likely lead to a deficit in the $20-billion to $30-billion range for the 2009-10 fiscal year, a Prime Minister’s Office official told CBC News on Thursday.
Hours after the announcement, Harper confirmed in a television interview that the Conservative government was planning to take unprecedented action to stimulate the country’s economy.
“Some people are talking in the neighbourhood of a five to 10 billion dollar deficit. Our own assessment is frankly that will not be sufficient given the challenges we’re facing,” Harper told CTV News in a year-end interview.
“I think what will be more realistic in terms of the kind of stimulus our economy is going to need is going to be in the 20-billion to 30-billion dollar range.”
The figure includes the $5-billion deficit the Finance Ministry projected on Wednesday for the next fiscal year, the CBC’s Rosemary Barton reported from Ottawa.
It also includes funding for the planned $3.3-billion auto-sector bailout, as well as unspecified amounts for forestry, housing, job retraining and infrastructure investment, the senior official said.

On Wednesday, the Finance Ministry posted an update of Flaherty’s economic statement on its website:
“The level of nominal GDP is expected to be about $20 billion lower in each of the next two years. This suggests that revenues will be weaker than projected in the November statement,” the update said.
On Wednesday, Flaherty acknowledged that Canada can’t withstand the turbulence in the global economy.
He said three factors are affecting the economy: falling world GDP; an American recession, which the U.S. National Bureau of Economic Research officially recognized on Dec. 1; and a drop in commodity prices.
The deficits are forecast to occur even if the government proceeds with billions of dollars in asset sales and cost cutting that it has proposed. The projections also don’t take into account any money spent for a stimulus package to boost the economy.
The federal government hasn’t run a deficit since 1996-97. In the 2006-07 fiscal year, Ottawa’s surplus hit $13.8 billion

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December 15, 2008

Liberal MPs release letter to the Minister of Finance calling for answers on Canada’s economy
TORONTO - The following letter was sent by Liberal Finance Critic Scott Brison and Chair of the Liberal Economic Advisory Committee, John McCallum, to Finance Minister Jim Flaherty on Friday, December 12. The three will meet this morning in Toronto to discuss the budget, scheduled to be tabled in the House of Commons on Tuesday, January 27, 2009.

Dear Honourable Minister,
Canada is facing an unprecedented economic downturn and our foremost duty as parliamentarians is therefore to demonstrate to Canadians that we recognize the challenges they face and are prepared to provide solutions to mitigate the impacts of the economic hardship.
The Liberal Caucus recognizes the need to work cooperatively with all Members of Parliament but success requires both a sufficient level of trust and a shared vision on how best to achieve the desired result.
If the Liberal Party is to be actively involved in the budget process, the first thing the Liberal Caucus and all Canadians need to know is the true state of the government’s books. Meaningful discussion and input requires honest budgetary numbers. The government’s recent Economic and Fiscal Statement has presented many questions for which we need answers in order to proceed further.
Few economists believe the numbers in the Statement. In particular, growth forecasts are already much worse than when the document was written. Accordingly, we would like to see updated economic forecasts and their implications for the fiscal plan as well as a detailed reconciliation of national and public accounts projections.
We would also like to see substantially more detail on the government’s plan to generate savings of $10.1 billion over five years from the Strategic Review exercise and the Corporate Asset Reviews. We do not consider it fiscally prudent or credible to break generally accepted accounting principles and book asset sales before the sales have occurred. We also question the logic of selling government assets in a buyers’ market. With these concerns in mind, we require a detailed plan of which non-financial assets the government plans to sell and at what price. If this information is not available, we request that you remove the Corporate Asset Management Review from the Government of Canada’s fiscal framework.

In addition, we would like you to provide us with the information requested of your Deputy Minister by the Parliamentary Budget Officer on December 1, 2008 and December 3, 2008. We also request a full briefing from senior Finance Canada officials at which the Parliamentary Budget Officer would be allowed to attend.
The Liberal Caucus supports the implementation of an economic stimulus package over the next two years that would make sensible investments in infrastructure, key industries (like manufacturing, forestry and automotive), housing, and skills training. If we are to enter into greater detail on this issue, we need to know more about the scale and composition of the fiscal stimulus you are preparing for Budget 2009. More specifically, what scale of economic stimulus are you considering, and over what timeframe? And what specific measures are you considering in terms of new infrastructure investment, modifications to employment insurance and new tax measures?
We look forward to receiving the requested information by Friday, December 19, 2008. Upon receipt of the above, we will be able to consider what we believe are the best options for Canada at this time.
Respectfully,
Hon. Scott Brison, P.C., M.P.
Liberal Finance Critic

Hon. John McCallum, P.C., M.P.
Liberal Economic Chair
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NDP
Jack Layton’s nationally televised address
Wed 03 Dec 2008
My fellow Canadians, tonight we are at a crossroads in our collective history.
An economic storm unlike anything seen in a generation is upon us.
And Canada must have a strong and effective government that holds
the confidence of Parliament.
Tonight, we do not.
Tonight, far too many Canadians will lie awake not knowing how they’ll put food
on the table tomorrow, or pay the bills this month.
Seniors will check their pensions and savings and see the true cost of collapsing markets.
And in Canada this recession has only just begun.
Tonight, only one party stands in the way .
In Canada, New Democrats offered constructive input and good ideas.
On election night, I committed to working collaboratively with Mr Harper
in the new minority Parliament.
In the days and weeks following that election, I laid out our effective ideas
to stimulate the economy.
I described them in great detail in speeches across the nation.
In the House of Commons.
And in a face to face meeting – at my invitation – with Mr Harper on November the 12th.
I focused on the needs of working families, of those being thrown out of work or whose pensions were at risk.
Of those working in our key industrial sectors.
And the need for a new energy economy to create new jobs for the 21st century.
Instead of acting on those ideas –
Or presenting any plan to stimulate the economy –
He delivered a partisan plan to sell off public buildings, kill off opposition parties and roll back workers’ and women’s rights –
None of which would create one job or protect one pension.
Stephen Harper refused to act –
Now he is trying to turn an economic crisis into a political one.
However, Stephen Harper has broken trust with the Canadian people.
In addition, because of that, he has lost the confidence of Parliament.
He is more interested in his job than you are and your families jobs.
That is wrong.
Every Member of Parliament will be denied their vote.
Every Canadian will be silenced in the people’s House.
We will have a Conservative government without legitimacy.
That does not have to happen, because this is a remarkable moment in Canadian history.
For the first time in memory, the majority of the people’s representatives set aside their differences for the good of Canada.
This is a time of hope.
Tonight, only one party stands against the welfare of the Canadian people.
On Monday, the two leaders of the proposed coalition sent Her Excellency the Governor-General a letter making it clear that the majority of members of Parliament no longer have confidence in this Conservative government.
Nothing we have heard
tonight changes that fact.
Tonight, Mr. Harper had an opportunity to set a new course.
To accept some of the ideas we have put before him.
But Mr. Harper did not.
And tonight, we are announcing that if it pleases Her Excellency, every New Democrat Member of Parliament is prepared to individually express their lack of confidence in this government.
A new kind of government, with a new kind of politics, is ready to serve,
one that will put the economy and working families first.
Thank you, and Good Night.

Let us hear your views!
Make your comments!
Go to the Forum and speak up!
What is your suggestion to create jobs?
What is your comment on foreclosures?
Do you have fears?
What are you thinking? Say it!

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Your Canada
Together we can make Changes
Speak your mind . Speak out!

Ending Homelessness by 2015

B.C. Mayor Gregor Robertson turned once again to that ambitious promise in his inauguration speech Monday.

It was a promise Robertson, a member of Vision Vancouver, made during his campaign to become mayor. Most of his 19-minute speech Monday was focused on the task.

“I decided to run for office of mayor to end street homelessness in Vancouver,” he told a crowd of more than 300 people, including his family seated in the front row of a gymnasium. “And I’m telling you today, that hasn’t changed. It is your council’s single most important priority in this term of office.”

Robertson was expected to make an announcement related to homelessness yesterday, after the Courier’s print deadline.

In his speech, the mayor outlined his plan to end homelessness. It includes ensuring there are enough shelter beds, increasing outreach programs for the homeless and lobbying for more treatment for addicts and services for the mentally ill.

Using city bylaws to protect and maintain affordable rental housing and “spurring the creation” of new affordable housing are also part of his plan. “People say that ending homelessness is an audacious goal,” he said. “And that’s true. But for someone who’s sleeping under a bridge tonight, or in an alley, 2015 can’t come soon enough.”

Robertson was elected Nov. 15, along with seven Vision councillors. COPE councillors David Cadman and Ellen Woodsworth and NPA Coun. Suzanne Anton round out the council.

Nine councillors were sworn in Monday, while Cadman was in Poland attending a climate change conference. He will take the oath of office Dec. 16.

Since the election, Robertson has spoken to Premier Gordon Campbell and Housing Minister Rich Coleman. They are two key people Robertson must communicate with for his plan to end homelessness to work.

In a scrum following his speech, Robertson wouldn’t provide any specifics about the conversations except to say they were “constructive.”

Robertson is the former NDP MLA for Vancouver-Fairview and regularly criticized the policies of the Liberal-led government in Victoria. “I’m looking forward to working together and I think we have a lot of shared objectives and concerns for the city of Vancouver and we’re going to roll up our sleeves and get things done as quickly as possible,” he said.

Robertson said the city can use the 2010 Winter Games to “show ourselves and the world” how to tackle homelessness and “the health crisis on our streets.”

Robertson kept away from criticizing current or past governments in his speech. He thanked former mayor Sam Sullivan and failed NPA mayoral candidate Peter Ladner for their service to the city.

Robertson beat Ladner by more than 18,000 votes. “Peter, may our bicycles cross paths many times in the future,” said Robertson, who, like Ladner, is a commuter cyclist.

The Vancouver Police’s pipe band piped in the kilt-clad Robertson and councillors into the community centre at 51st and Main.

The politicians and crowd were entertained by bhangra dancers and a lion dance before Richard Loney–best known to Vancouver Canucks’ fans for performing the national anthem at games–sang O Canada.

Mary Charles, a member of the Musqueam Indian Band, gave a traditional Coast Salish blessing before Robertson delivered his speech.

Charles, who has served on her band’s council, also informed Robertson and his council of what can be expected as they take office.

“I just want to tell you a little secret–you won’t please everyone,” she said.

The crowd included developers, housing activists, artists, ethnic community leaders, members of the gay community and provincial and federal politicians.

Robertson’s term runs until November 2011.

Youth Violence Intensifies

Studies show that youth violence has become more violent and more likely to involve weapons and gangs.

Children of younger ages are becoming more involved.

Do you agree that stricter laws are the best method for dealing with school violence?

How can we rectify the problem of youth violence in the schools?

Do you feel that kids need more assistance to build their self esteem?

Do you think that we are gving our children enough credit?

How can we teach more value and respect for the children of this generation?

Are parents indulging their children too much because of guilt feelings due to lack of attention.

Are youths feared?

Please let us know if you know of a youth with any of the following issues and how can we help them:

Go to the forum and make comments about these topics:

Break and enter

Violent crime

Property Crimes

Guns and weapons

Racial issues

Gang Activity

Aggression

Teasing

Taunting

Verbal threats

Physical threats

Bullying

Assault

Vandalism

Extortion

Hitting

Kicking

To be cool

To feel powerful

Drugs

Alcohol

Sexual assault

Adopt A School

Make a difference in your community through Canada Speaks. It’s Time! Adopt A School is a new initiative for Canada to allow businesses and corporations to directly touch the lives of school age children with positive reinforcement!

This program has been highly successful in many major junior hockey markets across Canada with young students striving to be better people and attain better grades and better behavior. The benefits are astounding:

* Positive behavior
* Good marks
* Acts of kindness
* Achievement of goals
* Contribution to others

Included in the program:

• Participating corporations can select the school if they wish or have a preference on a first come, first served basis

• Logo recognition and link as part of the new Adopt A School page on www.canadaspeaks.ca

• Presentation of awards by your company representative to school representative – photo to appear on web site

To participate in this special program, please Contact Us.

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