Did you catch the “Fall Economic Statement”  by the Fed Government? What’s in it and what does it mean for you?
I worried that it might be inflationary with too much government spending, but am happy it is not.
A mid year report, perhaps a bit light that looked at the economic climate of Canada right now and what to expect in the coming months.
There is certainly a slowdown in the economy due to rising interest rates and Recession is looming. Will Canada have a soft landing or a hard landing?
Chrystia Freeland, Deputy Prime Minister and Minister of Finance says in her bouncy, positive manner, that Canada is super resilient, “we will be ready…indeed, we are ready”.
I sure hope so. This video sums up though WHAT IS REALLY TOP OF MIND FOR THOSE PEOPLE I SPEAK TO EVERY DAY. I couldn’t agree more.
Targeting the most in need, here are some HIGHLIGHTS of the Report.
* Lower credit card fees for small businesses
* Doubling the GST Credit for 6 months into the pockets of the lowest paid Canadians…cheques starting now
* Permanently eliminating interest on Federal Canada Student Loans and Apprenticeship Loans
* Dental program so children can see a dentist
* Taxing share buybacks so large corps “pay their fair share”
At least Freeland, while positive, made sure to emphasize that they couldn’t shovel out the cash like Covid times as they didn’t want to make the Bank of Canada’s job of combatting inflation even harder. That my friends, is a GOOD thing.