#LowIncomeThreshold; #povertyLineMeasurement; #StatisticsCanada
Ottawa, Dec 23 (Canadian-Media): An increase in the number of Canadians regarded as living below the low-income threshold would result if changes to the federally adopted poverty line being looked at by the national statistics office, are approval, media reports said.
Statistics Canada. Image credit: Wikipedia
Raising of financial cut-off used to define low-income had resulted an increase in the poverty by 2.2 percent in 2008.
According to experts, Statistics Canada's plan next year to recalculate the threshold by changing the "market basket measure" could lead to a similar bump in poverty rates.
The measure calculates the minimum earnings a family requires to afford a basket of goods and services needed to reach a modest or basic living standard.
After adopting the measure as the country's official poverty line last year, the Liberals set aside $12 million over five years to update the basket, which currently doesn't include things like wireless services.
Federal officials would decide on the actions to be taken with Statistics Canada's recommendations including which to implement and on which more research is needed.
Statistics Canada's final report is expected in February.
Statistics Canada's published reports' possible updates to the cost of items in the basket of goods and services, as well as disposable income thresholds indicate a family's income left over after accounting for taxes and payroll deductions.
If the basket of goods strips away too much of their disposable income a family or individual would be considered in poverty .
Statistics Canada's other proposed updates include changes to the national food guide in the cost of food, updating transportation costs showing that while some low-income earners take public transit, others drive, exclusion of capital gains taxes when calculating disposable income and putting homeowners with a mortgage and people in subsidized housing on more equal footing with renters when determining who is in poverty.
In 2008 update, she said a similar effect happened when costs rose faster than incomes.
The continued trend of the faster growth in costs compared to the average income would therefore translate to a higher poverty level, said Garima Talwar Kapoor, director of policy and research at the charitable foundation Maytree.
There would be an increase not only in the percentage of people in poverty but a slight increase in the raw numbers as well by the changes to measuring poverty, Kapoor said.
The Liberals said more than 800,000 people — including some 280,000 children — have been lifted out of poverty, and rates have dropped by about 20 percent compared to those in 2015. The figures are key benchmarks both politically and from a policy perspective to track the path of the government's anti-poverty strategy.
The changes could drop those just above the line into poverty with no material changes to their circumstances, she said.
Updates to the measurement, Iglika Ivanova, a senior economist at the Canadian Centre for Policy Alternatives said, will help in identification of the financial pressure points for people in poverty, which in turn would help governments set anti-poverty plans.
"It's just important to keep updating these things because sometimes they are used to say we've done enough by the government — provincial or federal."
#EnvironmentalRacism; #NovaScotia; #BoatHarbourAct; #FirstNations; #LossOfJobs
Nova Scotia, Dec 20 (Canadian-Media): Nova Scotia Premier Stephen McNeil's decision On Friday not to amend the Boat Harbour Act, considered province's worst examples of environmental racism, forcing the closure of Northern Pulp's effluent facility by the end of January was a shock to the company and its employees as it could kill as many as 2,700 forestry-related jobs, media reports said.
Image credit: Twitter handle
Brian Baarda, CEO of Northern Pulp parent company Paper Excellence said the company put together what it believed was an excellent plan for a replacement treatment facility that should have been enough to gain approval from the province's environmental regulator.
The premier's decision, delivered to reporters in Halifax on Friday, follows an announcement earlier this week by Environment Minister Gordon Wilson, who said he needed more science-based information from Northern Pulp to address concerns about potential environmental risks associated with the mill's proposal for a new effluent treatment facility.
McNeil announced a $50-million transition fund to help those in the forestry sector affected by the decision. The work will be managed by three government departments and the Nova Scotia Community College, and McNeil made a pledge to workers in the sector.
"We have not forgotten you and I have made it clear that this transition is a top priority. Our government is committed to economic growth and environmental integrity."
Legislation was passed in 2015 setting the date to close the facility at Boat Harbour, a former tidal estuary next to Pictou Landing First Nation that for five decades has been treating the mill's wastewater and is heavily polluted.
#NewBrunswick; #PoorestProvince; #FederalEqualizationSupportProgram
New Brunswick, Dec 18 (Canadian-Media): New Brunswick was officially considered as Canada's poorest province and will begin receiving $2.21 billion in equalization funding from Ottawa starting in April, the largest increase among receiving provinces, media reports said.
Ernie Steeves. Image credit: Twitter handle
Equalization is a $20.6-billion federal program designed to help poorer provinces and is calculated using three years of data and by the revenue-generating ability of each province against a national standard.
GDP growth recorded by New Brunswick over those three years was approximately 3.7 percent, the weakest among equalization-receiving provinces, less than the national average.
The reason for the $187-million jump in New Brunswick's equalization allotment, the largest increase among receiving provinces will take some time to analyze said Trevor Tombe, an economics professor at the University of Calgary and one of Canada's leading experts on equalization.
Provinces receiving Equalization amounts per person are: New Brunswick: $2,826, Prince Edward Island: $2,825; Nova Scotia. $2,184; Manitoba: $1,815; Quebec: $1,547
"We want to be the ones that help everybody else, but right now we do need the help," said New Brunswick Finance Minister Ernie Steeves.
"We're trying to get our debt back in place where it should be and get it lowered so that we won't need as much help. But right now we are reliant on Canada and Canadians."
#Canada'sFoodPriceReport2020; #RisingPriceOfFood; #ClimateChange; #Canada'sEconomy
Ottawa, Dec 4 (Canadian-Media): Citing climate change as the main culprit in the rising cost of food next, Canada's Food Price Report 2020 predicted an average Canadian family to pay $487 extra for food, media reports said.
Although in the past food prices had been impacted by unexpected snowstorms, droughts and other weather events, said Simon Somogyi, lead researcher from Ontario's University of Guelph, but for 2020, he and others behind "Canada's Food Price Report 2020," highlight climate change.
"We're deliberately pointing out that, you know: climate change is causing the droughts, is causing the bad snowstorms that's impacting prices," he said, citing the Intergovernmental Panel on Climate Change (IPCC) report released on Oct. 8.
Other factors in rise of food price next year is Canada's steady inflation, high cost of Canada's importing of food, as the colder weather limits what can be grown.
Somogyi anticipates climate change will continue to boost food prices, particularly in categories where Canada relies heavily on imports, unless big changes occur.
The federal government released a long-awaited food policy in June 2019 — the first in Canada — after starting public consultations in 2017. The policy addressed four significant areas for short- and long-term action, including: Boosting community access to healthy food; making Canadian food a top choice domestically and internationally; supporting food security in northern and Indigenous communities; and reducing food waste.
As part of the food policy, supporting vertical or indoor farming initiatives announced could stabilize food prices, said Agriculture Canada spokesperson James Watson.
"Vertical and greenhouse production show potential for increasing food security [particularly in remote areas of Canada], decreasing transportation costs and increased health for Canadians."
Agriculture Canada is working with others to optimize these farming systems so they can complement traditional ones, he said.
#BankOfCanada; #SteadyInterestRate; #StableGlobalEconomy
Ottawa, Dec 4 (Canadian-Media): Bank of Canada is one of the only central banks that navigated the trade wars without cutting interest rates this year, owing to stable global economy leaving Canada with the highest policy rate among advanced economies, media reports said.
Bank of Canada. Image credit: Wikipedia
“Future interest rate decisions will be guided by the Bank’s continuing assessment of the adverse impact of trade conflicts against the sources of resilience in the Canadian economy,” policy makers led by Governor Stephen Poloz said in the statement.
On global outlook, policy makers said financial markets are being supported by easing measures by other central banks, and while trade uncertainty persists, the Bank of Canada noted commodity prices and the currency have been stable.
The Bank of Canada said that the current consistency of core inflation around 2 percent with an economy operating near capacity, the expected acceleration of inflation in the coming months would only be temporary due to year over year movements in gasoline prices.
#Calgary; #Alberta; #PipelineExpansionConstruction; #TransMountainCorp
Calgary (AB), Dec 3 (Canadian-Media): The official start of pipeline expansion construction would be done on Tuesday by Trans Mountain president and CEO Ian Anderson, federal Natural Resources Minister Seamus O'Regan, provincial Energy Minister Sonya Savage, as well as representatives from local governments and the Enoch Cree Nation at an event near Acheson, Alta., west of Edmonton, media reports said.
Trans Mountain Pipeline. Image credit: Twitter handle
After the approval of $7.4-billion expansion for the second time earlier this year by federal Liberal government, the Crown corporation that owns the project has restarted some work at the pipeline's terminals.
The Federal Court of Appeal is currently reviewing an appeal by Indigenous groups of that second approval.
Premier Jason Kenney has called on Prime Minister Justin Trudeau frequently to push ahead with construction on the project, and blamed the federal Liberals for delays. The two are set to meet in Ottawa next week.
Reportedly about 4,200 workers would be employed by Trans Mountain along the pipeline corridor by the end of the year.
890,000 barrels of oil per day, tripling its capacity, will be carried by the pipeline expansion from Alberta to the B.C. coast once completed.
The project is expected to be finished by mid-2022
#StatisticsCanada; #Ottawa; #Canada'sCurrentAccountDeficitWidened
Ottawa, Dec 3 (Canadian-Media): Third quarter of Canada's current account deficit (on a seasonally adjusted basis) widened by $3.1 billion to $9.9 billion , following the second quarter's reduction of $10.1 billion, with overall deficit on trade in goods and services rising by $2.4 billion, Statistics Canada's reports said.
Statistics Canada. Image credit: Twitter handle
Formed in 1971 and with its headquarters in Ottawa, Statistics Canada is the Canadian government agency aimed to produce and provide relevant statistics to enable Canadians to help better understand Canada, its population, resources, economy, society, and culture. Minister of Innovation, Science and Economic Development, currently Navdeep Bains, is responsible for Statistics Canada.
Non-residents' increased holdings of their assets in Canada by $47.0 billion and inflow of funds from abroad to finance the current account transactions in currency and deposits during the third quarter accounted for deficit in the financial account (unadjusted for seasonal variation).
The third quarter witnessed a net inflow of funds in the economy of $1.5 billion portfolio investment as against the moderation of strong investments in corporate bonds by significant declines in holdings of government bonds on both sides of the ledger.
Meanwhile, net outflow of funds totalling $1.6 billion was generated by direct investment activity. During the third quarter both Canadian direct investment abroad and foreign direct investment in Canada slowed on lower mergers and acquisitions activity in the third quarter.
#Calgary; #Enbridge; EnbridgeLine3pipeline
Calgary, Dec 1 (Canadian-Media): A significant milestone had been reached when Canadian portion of Calgary-based Enbridge's Line 3 pipeline started its commercial operation Sunday from Alberta to Manitoba, media reports said.
Enbridge Line 3. mage credit: Facebook page
The largest project in Enbridge history, The Line 3 replacement, cost top $9 billion, of which the Canadian portion is about $5.3 billion.
On the U.S. side of the border, the Line 3 project is still working its way through regulators.
Upon full completion of Line 3, the pipe will have oil export capacity of 760,000 barrels per day (bpd).
Finishing the Canadian portion of the pipeline is a case for "cautious optimism," said Kevin Birn, an analyst with IHS Markit in Calgary.
"Despite [pipeline projects] taking multitudes longer than anybody anticipated...You're kind of seeing a potential pathway out of [the] current ... constraints in western Canada."
Although at times challenging, Leo Golden, the vice president in charge of the Line 3 replacement project said, "we have achieved something that we are all very proud of in terms of putting this in service."
He predicted that besides being safe and reliant, new line would require less maintenance.
"It is incredibly important," he said of the project. "It is bringing into service over 1,000 kilometres of new pipeline that is improving the safety of our operating facilities across the Prairies."