Published in The Globe and Mail.
The federal government and many provinces are working toward reducing greenhouse gas (GHG) emissions with Ottawa committing to achieving a “net-zero” GHG economy by 2050. However, governments need to proceed more cautiously with two of their key policy levers – zero-emission vehicles (ZEVs) and heat pumps – and let consumers lead the way.
Reducing emissions comes at an economic cost. The trick is to ensure Canadians still have the products and services they need while minimizing the cost of each GHG tonne not emitted. This is not an easy task in a complex, energy-intensive economy in which Canadians feel their budgets are stretched. Including upfront and continuing costs, ZEVs and heat…
Published in The Globe and Mail.
Canada has lost its way in the world. Its international influence and respect is in serious decline, as a result of a combination of poor political leadership and inept actions, especially during the nine years of Justin Trudeau’s government.
It is a challenge for any government to avoid foreign-policy missteps. Given the volatility in global affairs with unexpected crises beyond a country’s control, it is impossible to always get things right, as governments react and adjust to sudden events. But Canada’s errors in recent years go far beyond this, showing astonishing ineptitude – own-goals that will have long-term consequences, and are of the Liberal government’s own making.
Take…
Published in The Globe and Mail.
When headline inflation increased to 2.9 per cent in May, up from 2.7 per cent in April, there was much speculation that the Bank of Canada would pause its rate cuts. However, it ticked back down to 2.7 per cent in June. That, plus a weakening labour market and stagnating per capita GDP, made it practically certain the bank would cut on Wednesday. It did.
Whether the bank has entered an easing cycle is no longer the question. The only question left is how far and how fast the Bank of Canada continues to cut interest rates.
There are several upside risks to inflation in the near future which could cause the bank to pause its rate cuts. We think it shouldn’t. Here’s why.
The…
