Attempting to fight high deficits while maintaining high tax rates will reduce the province’s economic growth prospects
By Alex Whalen and Tegan Hill The Fraser Institute Due largely to COVID-19, the big banks project negative growth for Nova Scotia’s economy in 2020, ranging from -5.5 per cent to -7.4 per cent. Without a strong rebound, such a steep recession could have a lasting impact on living standards in the province and Maritime…
The survey found that one-in-three Canadians are fearful of losing their job due to the pandemic
A new survey released Tuesday by the Canadian Payroll Association finds that 58 per cent of Canadians feel more stressed about their finances due to the COVID-19 pandemic. “The repercussions of the pandemic continue to threaten our country’s return to stability. Our research shows that COVID-19 has directly affected the financial stress of working Canadians,…
With everyone’s attention riveted on COVID-19, it’s important to remember there are still unrelated bad policy ideas that could become legislation. The Alberta government recently convened an expert panel to examine what’s widely being called Alberta’s car insurance problem. As is usually the case in these types of matters, the problem seems to be largely…
Canadians aged 15 to 34 were more likely than those aged 35 and older to expect to spend more on recreation and entertainment
A new report by Statistics Canada says Canadians plan to reduce discretionary spending during the recovery period of the COVID-19 pandemic. The study "Expected changes in spending habits during the recovery period," is based on results from a recent web panel survey conducted in June, looking at how spending habits may change. “Canadians were less…
Kelley Keehn, author, finance educator and Consumer Advocate for FP Canada, talks about stress, money and tough times due to COVID
On today's episode of Business Insider with Mario Toneguzzi, Kelley Keehn, author, finance educator and Consumer Advocate for FP Canada, talks about stress, money and tough times due to COVID.Sue Styles, a professional speaker and author and CEO of Maximized Results Consulting, talks about surviving a bankruptcy and becoming successful
On today's episode of Business Insider with Mario Toneguzzi, Sue Styles, a professional speaker and author and CEO of Maximized Results Consulting, talks about surviving a bankruptcy and becoming successful.Money (38 per cent) outranks personal health (25 per cent), work (21 per cent) and relationships (16 per cent) as the top source of stress in Canadians' lives
Consistent with previous years, in 2020 money is the number one cause of stress for Canadians by a large margin, according to the latest FP Canada survey. The Financial Stress Index found that money (38 per cent) outranks personal health (25 per cent), work (21 per cent) and relationships (16 per cent) as the top…
Our high income tax rates discourage productive economic activity and put Canada at a competitive disadvantage
By Jake Fuss and Tegan Hill The Fraser Institute On July 8, the government of Prime Minister Justin Trudeau will release a “snapshot” of federal finances, the first such update since the COVID-19 crisis began. The government may also soon look to raise taxes to try to increase government revenue, either to finance new spending…
Nearly 1 in 4 (22%) are very stressed about their overall financial, while 25% are not stressed at all
The COVID-19 pandemic has had some serious consequences for Canadians and their finances. Here are some key results from a result survey by J.D. Power on the impact the crisis has had on people: General Perceptions 1 in 4 Canadians (24%) are working fewer hours and 12% temporarily lost their jobs and still not working,…
Survey found that 7% of respondents said they plan to file a consumer proposal or declare bankruptcy (6%) after government financial support ends
Consumer insolvencies are expected to spike in the wake of the pandemic as many Canadians were already feeling a tremendous strain on their pocketbooks, says a new survey by MNP LTD. The survey found that seven per cent of respondents said they plan to file a consumer proposal or declare bankruptcy (six per cent) after…