New Canada Jobs Grant Introduced Under Labour Market Agreements
As part of the 2013 federal budget, the government has announced plans to introduce a new federal training initiative called the Canada Jobs Grant. Back in 2007, Canada unveiled its $3 billion Labour Market Agreements (with the provinces and territories) which offered assistance over three years to low-skilled Canadians or those who were not eligible for […]
Canada’s Performance in Innovation
Ottawa based think tank, The Conference Board, released a series of reports called “How Canada Performs: A Report Card on Canada,” which assesses Canada’s quality of life in comparison to other countries. Canada receives grades of “B” in the majority of the sections, and received a grade of “A” in the Education and Skills section. […]
Positive Signs for Canada’s Trade Deficit
Recent January numbers for Canada’s exports and imports indicated an overall drop in the country’s trade deficit. As reported by Statistics Canada, the trade deficit decreased from $332 million in December 2012 to $237 million in January 2013. Overall exports rose for the month of January to $39.1 billion. This was mainly driven by the […]
Decline in Manufacturing Sales for December 2012
A recent survey completed by StatsCan indicated a 3.1% decline in sales for the manufacturing industry in the month of December 2012. The total manufacturing sales in December was $48 billion. The chart below illustrates Canadian manufacturing sales since 2007 in current dollars. The transportation equipment industry suffered the highest percentage decrease in sales compared […]
The Correlation Between Lower Business Taxes and Employment
“It’s time we get the facts on the table. Business investment has been a key driver of economic and job growth over the past five years, and lower taxes have contributed significantly to that growth.” This statement, made by CME President and CEO Jayson Meyers, summarizes a recent analysis done by the Canadian Manufacturers and […]
Improving Canada’s Fuel Economy Standards with the Automotive Innovation Fund
Environmentally-friendly vehicles have come a long way in terms of technological advancement and efficiency, but as with anything, there’s always room for improvement. The Automotive Innovation Fund (AIF) is a new program that aims to do just that by providing funding for vehicle and powertrain assembly operations associated with significant automotive innovation to support large-scale […]
R&D Spending On Upward Trend
StatCan recently released a report indicating the direction research and development (R&D) spending by businesses in the industrial sector has been going over the past several years. With anticipated spending of $15.5 billion in industrial R&D in 2012 (an increase of 0.9% from 2011), there is a positive outlook for R&D spending for the new […]
Bank of Canada Expected to Announce No Change to Interest Rates
The Bank of Canada (BoC) is expected to announce no change to the current ultra-low interest rates. The BoC may be under pressure to increase interest rates due the the sky-rocketing Canadian housing market, and the increasing debt load of Canadian families. However, the GDP report released on Friday showed that the Canadian economy has […]
Soft Patch in Canadian Economy
Canadian job creation stalled in October, while the national unemployment rate held at 7.4%. Closer analysis of the data reveals that the western provinces have had lower-than-average rates of unemployment, compared to higher-than-average rates of unemployment in Ontario and the eastern provinces. The western provinces had previously been driving economic growth with its resources (oil, […]
Minister Flaherty Tables Corporate Income Tax Changes
The Minister of Finance, Jim Flaherty, has tabled a detailed Notice of Ways and Means Motion to implement income tax reforms. The majority of the measures were related to corporate tax, and include an overhaul of the Scientific Research and Experimental Development (SR&ED) program. The corporate tax reforms that were tabled are outlined below: Expansion […]