Ottawa has set its sights on reining in predatory lending rates. Last year it set out draft regulations that would lower the rate non-prime lenders can charge from 48 to 35 per cent (“annual percentage rate” or APR). Will that keep people who are prey to predatory lending from entering a cycle of debt? Probably not.
There are two types of borrowers, prime and non-prime. Prime borrowers have strong credit scores that give banks and credit unions confidence they will pay their loans on time and in full. As a result, they can borrow at reasonable interest rates. Non-prime borrowers are more diverse. Some have a checkered repayment history. Others, including immigrants, have no Canadian credit history. Because banks and credit…
Canada is a trading nation. Trade keeps the economy working, vital to the well-being of every Canadian. Securing and maintaining the country’s trade is thus one of the topmost responsibilities of the federal government, requiring skill, determination and a strategic focus on the national interest.
That means ensuring, among other things, that Canada’s weak performance in defence and security doesn’t spill over and harm the country’s key trading relationships, particularly when it comes to dealing with the United States, our biggest economic partner. The danger is that this spillover could well happen.
Former U.S. president Donald Trump caused a stir recently with his threat to NATO allies for not spending enough…
The federal government recently finalized regulations for its “zero-emissions vehicle” mandate. The mandate requires sellers of light vehicles (passenger cars and light trucks) to sell a rising minimum of zero-emissions vehicles — basically, electric vehicles or EVs — every year, culminating with 100 per cent EVs in 2035, just 11 years from now. Reasonable forecasts of production and sales make clear that Ottawa’s timeline is unrealistic.
The mandate states that new light vehicles must be at least 20 per cent EVs in 2026, 60 per cent in 2030 and, as mentioned, 100 per cent in 2035. The theory is that these requirements will guarantee a market for EVs and therefore encourage imports, construction of domestic manufacturing…
