National Newswatch

IMF calls for a tax shift to carbon

Jul 31 2014 — Julian Beltrame — OTTAWA - The International Monetary Fund says Canada and other countries can improve their economies and environment by hiking energy taxes — while cutting them on people and capital.In a new book, Getting Energy Prices Right: From Principle to Practice, the IMF essentially endorses policies - at times advocated by the federal Liberals and NDP […]

Industrial GDP rises for 5th straight month

Jul 31 2014 — Julian Beltrame — OTTAWA - Canada's economic output picked up speed to a a 0.4 per cent pace in May, setting the stage for a second quarter expansion that is expected to help reverse the year's slow start.Economists had anticipated May would show signs the economy was putting the weak start to 2014 behind it, especially since the […]

Canadians more pessimistic on economy, jobs

Jul 29 2014 — Julian Beltrame — OTTAWA - Canadians are becoming increasingly pessimistic about the economy and the availability of jobs — except those in the booming West — a new survey suggests.The Conference Board's latest consumer confidence survey for July shows that optimism is waning or remains at very low levels in most regions of the country, except in the […]

Ottawa posts $1.15B deficit in April-May

Jul 25 2014 — Julian Beltrame — OTTAWA - The federal government continues to show progress in its drive to eliminate the deficit by next year, the latest accounting from the Finance Department indicates.In the first report on its financial position for the new 2014-15 fiscal year, the department said it posted a combined $1.15-billion deficit for April and May, the first […]

Ottawa posts $1.15B deficit in April-May

Jul 25 2014 — Julian Beltrame — The federal government continues to make progress in its drive to eliminate the deficit by next year, the latest accounting from the Finance Department shows. In the first report on its financial position for the new 2014-15 fiscal period, the department said it posted a combined $1.15 billion deficit for April and May, the first […]

IMF dampens growth in world, Canada

Jul 24 2014 — Julian Beltrame — OTTAWA - The International Monetary Fund says Canada's economy will be a little weaker this year than previously projected, although it will continue to lead all nations in the Group of Seven but one.The downgrade of Canadian and global growth in the latest outlook was expected given the sharp slowdown in the U.S. and China […]

Create jobs by running deficits, Ottawa urged

Jul 23 2014 — Julian Beltrame — OTTAWA - Finance Minister Joe Oliver is rejecting a recommendation from a report issued by the C.D. Howe Institute that he focus more on creating jobs than eliminating a tiny deficit.The report by McMaster University economics professor William Scarth argues that keeping the deficit at 0.5 per cent of GDP for the next three years […]

Economy gets needed lift from consumers

Jul 23 2014 — Julian Beltrame — OTTAWA - A strong retail sales report for May suggests the Canadian economy has recovered from a winter hiccup and is returning to above two per cent growth.Thanks to strong car and truck purchases, retails sales rose a better than expected 0.7 per cent in the middle month of the second quarter, building on an […]

Create jobs by running deficits, Ottawa urged

Jul 23 2014 — Julian Beltrame — A new report issued by the C.D. Howe Institute says the federal government could create tens of thousands more jobs in the next three years if it stopped worrying so much about a tiny deficit and decided in favour of some stimulus spending. The report written by McMaster University economics professor William Scarth argues that […]

Annual inflation edges up to 2.4% in June

Jul 18 2014 — Julian Beltrame — OTTAWA - Inflation in Canada continues to defy the experts' expectations, exhibiting stubborn staying power in the face of a weak economy and even softer employment conditions.For the second month in a row, the annual rate hit a new two-year high-water mark as it rose one-tenth of a point to 2.4 per cent in June, […]