National Newswatch
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Take Time Selling Canada to Trump, Departing Envoy Tells Trudeau

Jan 16 2017 — Theophilos Argitis — President Barack Obama’s outgoing envoy to Canada has some guidance for Prime Minister Justin Trudeau in dealing with the new Trump administration: Don’t assume anything. “If I was going to give one piece of advice,” U.S. Ambassador Bruce Heyman said in an interview with Bloomberg, it would be that “whenever you are working on a […]

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Trudeau’s Finance Chief Will Get Good Pre-Budget News This Week

Jan 11 2017 — Theophilos Argitis — Finance Minister Bill Morneau will hold his pre-budget meeting with private sector economists Friday, where he’ll be told that an improving economy will help stabilize Canada’s finances. The finance department’s survey of economists will paint a picture of national income and revenue that is almost exactly what was expected in the Nov. 1 fiscal plan, […]

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Trudeau’s Plans Prove Key to Poloz’s Messaging on Interest Rates

Oct 26 2016 — Theophilos Argitis — Will he cut or not? Investors are complaining Bank of Canada Governor Stephen Poloz has been sending mixed signals about his interest-rate plans, sowing uncertainty by speaking about the need for stimulus while at the same time highlighting the problems with adding stimulus. The Canadian currency has see-sawed over the past week as traders try […]

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TD Expects Canada to Run Bigger Deficits Than Trudeau Budgeted

Oct 13 2016 — Theophilos Argitis — Canada will run larger deficits than Prime Minister Justin Trudeau’s government has projected amid a weakening revenue outlook, limiting its scope for additional spending measures, according to a report from Toronto Dominion Bank. The country is on track to run a deficit of C$34 billion ($25.7 billion) in the current fiscal year, almost C$5 billion […]

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Trudeau’s New Child Benefits Worth Extra $300 Million in July

Sep 30 2016 — Theophilos Argitis — The Canadian government released the first bit of data on its new child benefits, showing an increase of about C$300 million ($229 million) the month the program was first rolled out. Spending on children’s benefits was C$1.84 billion in July, the finance department said in its monthly fiscal release Friday. That compares with C$1.54 billion […]

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Trudeau, Handcuffed by Dismal Growth, Set to Tap Budget Reserves

Sep 29 2016 — Theophilos Argitis — Prime Minister Justin Trudeau’s fiscal leeway is shrinking just as demands for spending are beginning to mount. The finance department has completed its latest survey of private sector economists and the numbers paint a worsening picture for national income and revenue. Compared with forecasts they gave for the March budget, the economists project almost C$50 […]

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Trudeau Handouts Not Providing Stimulus, Bloomberg Poll Finds

Sep 7 2016 — Theophilos Argitis — Two of Canadian Prime Minister Justin Trudeau’s marquee budget policies — enhanced child benefits and income tax cuts — are doing little to boost consumer spending, according to a new Bloomberg-Nanos survey. Families receiving additional child benefits plan to use only 15 percent of the windfall for new spending, with most of it going to […]

Toronto, Ontario - August 15, 2016 - A.J. 'Jack' Diamond, principal of Diamond Schmitt Architects in his Toronto office on August 15, 2016.

Trudeau’s Cure for Canada’s Slump? Architects and Accountants

Aug 22 2016 — Theophilos Argitis — Jack Diamond is 83, and South African, making him an unlikely poster child for Canada’s new economy. But the founder of Diamond Schmitt Architects has built exactly the kind of business that the government sees as the wave of the future—brainy, urban and globally competitive. Diamond has been living in Canada for five decades. His […]

Justin Trudeau, Canada's prime minister, arrives for a joint news conference with Enrique Pena Nieto, Mexico's president, not pictured, and U.S. President Barack Obama, not pictured, at the National Gallery of Canada during the North American Leaders Summit (NALS) in Ottawa, Ontario, Canada, on Wednesday, June 29, 2016. Leaders from the three Nafta nations "agree on the need for governments of all major steel-producing countries to make strong and immediate commitments to address the problem of global excess steelmaking capacity," according to a statement from Trudeau. Photographer: Cole Burston/Bloomberg

Doubts About Vancouver Foreign-Buyer Tax Leave Trudeau in a Bind

Aug 11 2016 — Theophilos Argitis — In Vancouver, there’s plenty of worry the 15 percent tax on foreign home buyers could be too successful, chasing away legitimate investors. In Ottawa, the big worry is the tax won’t be enough. Federal government officials studying the move have doubts about its effectiveness to slow the market, according to two people familiar with discussions […]

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Stimulus Stockpile Means Trudeau Isn’t in a Rush to Double Down

Aug 8 2016 — Theophilos Argitis — Will Prime Minister Justin Trudeau double down on fiscal stimulus in the wake of Canada’s recent abysmal economic data? Don’t hold your breath. Report after report is painting a dire picture for the energy-producing nation. It lost 31,200 jobs in July and its trade deficit rose to a record in June, Statistics Canada said Friday. […]

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Trudeau’s Fiscal Plan Buys Poloz Time as Record Trade Gap Looms

Aug 4 2016 — Theophilos Argitis — Data out Friday will probably make it official: Canada’s first-half trade performance was the worst on record. But don’t expect that to force the central bank’s hand. Economists predict the country posted a trade deficit of C$2.84 billion ($2.18 billion) in June, bringing the cumulative figure to well above C$15 billion this year. That would […]

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Canada’s 2015 Recession Was No Such Thing, C.D. Howe Study Finds

Jul 26 2016 — Theophilos Argitis — It looks like Canada’s 2015 recession never actually happened. The Toronto-based C.D. Howe Institute, which tracks and labels Canadian business cycles, published research Tuesday showing last year’s economic contraction — driven by falling oil prices — wasn’t widespread enough to be considered a recession. The conclusion came in a study by analyst Jeremy Kronick, who […]