Reining in Canada’s Financial Giants – Are Consumers Getting a Fair Break?

Introduction In an important piece in the July 31 issue of the New Yorker Magazine on the decline in the prosecution of white collar crime in the U.S., author Patrick Radden Keefe cites a telling 2002 incident involving ex-FBI director James Comey. Keefe relies on the description of the incident contained in the journalist Jesse Eisinger's recently published book, "The Chickenshit Club". Keefe writes: When James Comey took over as the U.S. Attorney for the Southern District of...

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Federal News Highlights and Parliamentary Business for October 26

Trudeau holds out hope for CETA but is a change in strategy called for?       Prime Minister Justin Trudeau is holding out hope for a last-minute breakthrough that will allow Canada’s trade deal with the European Union to be signed, despite objections from Belgium that have put the agreement in doubt. But the signing ceremony planned for Thursday appears in jeopardy as Belgium appears to be unable to endorse the trade agreement because...

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Federal News Highlights and Parliamentary Business for October 21

Federal News Highlight: Advisory Council on Economic Growth A panel led by a consultant with close ties to the Liberal government is calling for the government to create a national infrastructure bank capitalized with $40-billion in federal funds. The Advisory Council on Economic Growth released three reports calling for the national infrastructure bank, a new agency to attract foreign investment and a massive increase in immigration. The council is chaired by Dominic Barton, managing director of McKinsey & Co., a business...

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Bay Street and the Hydro One Sale

Of the many options available to the Ontario government to finance its $130 billion infrastructure plan, selling 60% of Hydro One is pretty much the worst. It is becoming increasingly clear that the Ontario government is making a serious mistake in its plan to sell off a majority interest in Hydro One. According to a report from Ontario’s new Financial Accountability Officer, the province will be in even worse financial shape...

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Five Key Issues Facing the Trudeau Government

In this post, Canada Fact Check takes a look at five key issues facing the newly elected Trudeau government for the period leading up to, and including, the early-Spring budget. Infrastructure The new Liberal government’s top priority will be to quickly implement its high profile infrastructure program. Trudeau says a Liberal government will run deficits for three straight years and will double spending on infrastructure to stimulate economic growth. According to a Liberal policy paper, the Liberal fiscal...

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What you need to know about the Trans-Pacific Partnership (TPP)

    What is the Trans-Pacific Partnership (TPP) ? Canada, U.S. and Mexico have long had special access to each other’s markets under NAFTA. Instead of a group of three as under NAFTA, twelve countries would share in the advantages of TPP membership. Broadly speaking, the Trans-Pacific Partnership (TPP) is similar to NAFTA in that it involves pledges to reduce or eliminate tariffs on a wide range of goods and services. It also sets out rules for...

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Trudeau and Mulcair spar on deficits

With at least one poll suggesting Tom Mulcair’s New Democratic Party is within reach of securing a historic NDP majority government, the debate between the two opposition parties over fiscal policy has become considerably more pointed. In this post, Canada Fact Check takes a look at the latest polling numbers and then assesses the fiscal positions being staked out by the Liberals and NDP. First, the most recent polling numbers. The latest polls A Forum Research poll for...

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Harper Energy Policies Fail to Create Sustainable Economic Growth

In a previous post, Canada Fact Check took a look at the Harper government economic record and began an examination of the three economic legs of the Conservative economic plan: 1) reduced corporate taxes; 2) Canada as an “energy superpower”; and 3) an aggressive approach to balancing the budget rooted in curtailing government spending. In today’s post, Canada Fact Check assesses the economic impact of the Conservative government's policies aimed at turning Canada into an "energy super power”....

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Harper Claims On The Economy Not Backed Up By the Numbers

Last Friday, Statistics Canada released its jobs report for July, 2015 – the first such release during the election period. Employment was up a bit in July as compared to June (+6,600) and the unemployment rate stayed at 6.8% for the sixth straight month. Compared with a year earlier, employment had increased by 161,000 (or 0.9%), primarily because of the growth in full-time work. Provincially, employment in Ontario was virtually unchanged in July. Compared with 12 months earlier, employment in the province...

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