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sure smelling like an election..... on it's way......

Liberals add $1.4 billion to climate change mitigation fund: McKenna

2 hrs ago

OTTAWA — Infrastructure Minister Catherine McKenna says the federal government is adding almost $1.4 billion to the disaster mitigation and adaptation fund this year to help communities across Canada facing climate change and environmental disasters.

$19 million to modernize health, social services and post-secondary education establishments in Saguenay–Lac-Saint-Jean

 

From: Infrastructure Canada

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The Green Party and the associated fund that controls its purse strings are taking their battle with party leader Annamie Paul to court — ending a tentative truce between Paul and party executives just as a federal election call is expected within weeks. Court documents show that Paul took action to stop the party from holding a confidence vote on her leadership and reviewing her party membership. The court documents say the dispute ended up in the hands of an arbitrator, who decided to quash the non-confidence vote scheduled for July 20 and call off the membership review. The Green Party of Canada Fund and the Green Party of Canada are asking the Ontario Superior Court to quash the arbitration orders that set aside both the non-confidence vote and the leadership review until after the party elects a new federal council on Aug. 19. The party and the fund argue that the arbitrator exceeded his authority in setting aside the vote and the leadership review because Paul's contract was with the fund, not the party's federal council. Read more about the legal fight.

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32 minutes ago, Kargokings said:

The Green Party and the associated fund that controls its purse strings are taking their battle with party leader Annamie Paul to court — ending a tentative truce between Paul and party executives just as a federal election call is expected within weeks. Court documents show that Paul took action to stop the party from holding a confidence vote on her leadership and reviewing her party membership. The court documents say the dispute ended up in the hands of an arbitrator, who decided to quash the non-confidence vote scheduled for July 20 and call off the membership review. The Green Party of Canada Fund and the Green Party of Canada are asking the Ontario Superior Court to quash the arbitration orders that set aside both the non-confidence vote and the leadership review until after the party elects a new federal council on Aug. 19. The party and the fund argue that the arbitrator exceeded his authority in setting aside the vote and the leadership review because Paul's contract was with the fund, not the party's federal council. Read more about the legal fight.

This is a Party where all their elected candidates couldn’t even fill a VW beetle. Their present leader doesn’t have a seat…..and they want to vie to run the country and they can’t even agree on a leader LOL.

Nothing like a lovers quarrel making headlines just in time for an election. The only downside is numnuts will probably benefit from the squabbling.

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https://canadianaviationnews.wordpress.com/2021/07/23/regie-intermunicipale-de-laeroport-regional-de-mont-joli-receives-over-7m-from-federal-government-to-maintain-regional-connectivity-and-jobs/

JUL 22, 2021, 13:15 ET

Government of Canada providing additional funding to support essential air services for remote communities in Saskatchewan

OTTAWA, ON, July 22, 2021 /CNW/ - The global COVID-19 pandemic has created unprecedented challenges for Northern and remote communities which depend.

 
JUL 21, 2021, 14:00 ETGovernment of Canada to announce funding to improve access to air transportation and support regional air transportation ecosystems
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Deputy PM promises new measures to push New Brunswick to fund abortion clinic

Jacques Poitras  4 hrs ago
 
 
 
 
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Deputy Prime Minister Chrystia Freeland said Friday that the federal government will announce "in the coming days" how it plans to ensure public funding for abortions at Fredericton's Clinic 554.

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33 minutes ago, Kargokings said:

Deputy Prime Minister Chrystia Freeland said Friday that the federal government will announce "in the coming days" how it plans to ensure public funding for abortions at Fredericton's Clinic 554.

Public funding for abortion clinics while having open borders "because the birth rate is too low and we need population growth."  Isn't that like trying to get your truck pulled out of the ditch while having the park brake set?

 

 

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29 minutes ago, Seeker said:

Public funding for abortion clinics while having open borders "because the birth rate is too low and we need population growth."  Isn't that like trying to get your truck pulled out of the ditch while having the park brake set?

 

 

It seems to me, we only need population growth to support more population and not to sustain what we have, in other more more immigrants who will vote for the Liberals who opened our borders to them.... hMMMMM 🙃

In that I have no problem with immigrants, after all we are a nation of immigrants but unbridled growth to support WHAT is something I can not support.  

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15 hours ago, Kargokings said:

but unbridled growth to support WHAT is something I can not support.  

I would also point out that the government is keen to bring in 1/2 a million people a year to the country but are they also providing the housing, the medical facilities, the infra structure to support that new population??

Record housing prices now in all markets….rental market drying up..renters are forced on the street when landlords cashin on prices….health care on the brink..family member told first surgery appointment available in 2022… Etc

Theses costs fall to the provinces, who are already financially stretched to the max. The new Canadians don’t flock to Dryden or Fort St John.

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Canada is on track to accept more immigrants this year than at any time in the country’s history, despite a pandemic that has largely closed borders to outsiders The Liberal government expects to achieve this goal largely by converting eligible foreign students, temporary foreign workers and asylum seekers who were already in Canada into permanent residents. In June, the Department of Immigration, Refugees and Citizenship processed 45,100 applications for permanent residence, the largest number ever in one month, according to the office of Immigration Minister Marco Mendicino. In that same month, Canada welcomed 35,600 new permanent residents. Such levels have Mr. Mendicino confident that his department will meet its goal of bringing in 401,000 new permanent residents this year, which would be the largest annual intake ever recorded. “Against all odds, Canada continues to lead the world in immigration,” Mr. Mendicino said Friday in an interview. “We are going to make good on our commitment to land 401,000 new permanent residents.”

Needless to say, the problems of large cities will only get worse with this increase, and the taxpayers will foot the bill.

But it’s all in Trudeau’s election plans….what immigrant will vote against bringing his family over here and/or the federal benefits that come with it?

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Just when we think we are getting a handle on COVID-19, we have a new STD to worry about. 

 CANADA ALERT - July 15, 2021-Canada ALERT - Gonorrhea Lectim. 

The Centre for Disease Control has issued a warning about a new virulent strain of this old disease. 
The disease is called Gonorrhea Lectim. It's pronounced "Gonna re-elect 'em," and is capable of crippling our country as we know it.The disease is contracted through dangerous and high-risk behavior involving putting your cranium up your rectum. Many victims contracted it in 2019 when they re-elected Justin Trudeau's Liberals back into power and are now starting to realize how just destructive this sickness is.


It's sad because Gonorrhea Lectim is easily cured with a new drug just coming on the market called Votemout. It's pronounced "Vote-em-out."  It can be picked up at your local pharmacy without a doctor's prescription.  You take the first dose now as a Federal election can be called at any time, otherwise, Gonorrhea Lectim could eventually wipe out all life as we presently know it in Canada.

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I would love to see a report on polls and how accurate they were found to be after the election results were final.

but

Liberal majority government in ‘doubt’ as lead over Conservatives shrinks, poll finds

federal parties gearing up for a possible federal election in the coming months, new polling suggests that waning support for the Liberals is going to make winning a majority government difficult to pull off.

The Conservatives are now closing the gap, according to new polling from Ipsos, with the Liberals down two points at 36 per cent and the Tories gaining four points in the last month to get to an even 30 per cent nationally.

The polling also points to the NDP holding steady to receive 20 per cent of the vote, while the Bloc Quebecois would gather seven per cent nationally. The Green Party would secure three per cent and even less Canadians would vote for the People’s Party or any other party, at two per cent each.

Read more: Conservative support dips as Liberals appear on steady road to majority: poll

Two out of 10 Canadians would either not vote or would be unsure of who to vote for.

While the Liberals still hold a 6 per cent lead over the Conservatives, that lead would still not be enough for them to move past their current minority government according to the poll's results.

Darrell Bricker, Ipsos' CEO of Public Affairs, says that the main problem separating the Liberals from the coveted majority government is whether or not they'll be able to find a region where they're going to rack up enough votes.

"Canadian politics is not about the national numbers. It's about the regional numbers. It's about all the races that are taking place in the region," he said.

According to Bricker, the main provinces that the Liberals should be looking at now to gather enough seats for a majority are Ontario, Quebec and B.C. — places where polling currently shows the Liberals as not having a “substantial” enough lead to push their seat count past 170.

"The problem that the Liberals have is that they've got to find a place where they're going to pick up enough votes, [where] they're going to establish enough gap between themselves and their main opponent from the last election campaign," said Bricker.

"And so far, they haven't really found that."

According to Bricker, the best place in Canada right now for the Liberals to be able to pick up enough seats would be Quebec — where they find themselves in a tight race with the Bloc Quebecois.

Voter certainty would also be an important factor should an election — especially one with a low turnout —  be held soon, according to Bricker.

According to the polling, the Conservative vote remains the most firm among its supporters, with nearly half of Tory voters saying that they're absolutely certain of their choice. would be at an advantage.

“There’s a bit of an advantage there for the Conservatives. Is it enough to win? Not based on these numbers, but it’s certainly enough to probably deny the Liberals a majority,” said Bricker.

Among the other parties' supporters, about 44 per cent of the Bloc, 43 per cent of Liberals, 36 per cent Green and 31 per cent of NDP voters remain locked into their choice.

While the Conservatives hold the firmest support, the opposite trend was uncovered when it came to asking Canadians about which parties had the highest potential for growth. The poll found that the NDP was chosen the most as everyone’s second option, sitting at 20 per cent, while just 10 per cent would vote for the Tories as their second pick.

And while the Liberals' support has shrunk in the past month, the polling has still found strong "fundamentals" in Justin Trudeau and his party — with 50 per cent approving of the performance of the current federal government.

 

Though that performance remains strong, the polling found that such approval could break easily — with just 10 per cent saying they "strongly approve" and 40 per cent saying they "somewhat approve."

Bricker said that what he found interesting was that about 42 per cent of Canadians believe that Trudeau's government has "done a good job and deserves re-election."

“The percentage of people saying that the incumbent deserves to be re-elected is at 42. If the Liberals got 42 in this election campaign, they would definitely form a majority.”

For this survey, a sample of 1,000 Canadians aged 18+ was interviewed. A sample of n = 1,001 was interviewed online, via the Ipsos I-Say panel and non-panel sources, and respondents earn a nominal incentive for their participation. Quotas and weighting were employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos polls which include non-probability sampling is measured using a credibility interval. In this case, the poll is accurate to within ± 3.5 percentage points, 19 times out of 20, had all Canadians been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

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Bring in more immigrants!

Here’s a great example of why living in small communities is becoming impossible…..what used to be sleepy places like Prince Edward County have become the new got to spots…..good luck for joe average trying to find a rental property for the family.

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Out back, there was a sweet in-ground pool, but beside it, the 800-square-foot pool house was in rough shape. It had been locked up and neglected over the years, and required heavy structural repairs.

Despite the need for renovations, the previous owners had been using the place as a successful Airbnb investment, renting it for close to $500 a night, which hinted at the high demand for vacation rentals in the area.

The asking price: $689,000. Omar and Andrea crunched the numbers, factoring in an estimated $70,000 for renovations, then offered full asking price, conditional on a home inspection. They wanted to get a deal done quickly.

But after talking to a local property manager, the couple realized how much money they could make putting their place on the short-term rental market—an estimated $1,000 a night. Apparently, all of their renovations made it a prime vacation listing.

With the income from their new investment, the Prashads plan to purchase another place in PEC and transform it into a rental property. They’re still interested in finding a secondary property for themselves, but Omar thinks they might not be able to resist the temptation of renting it out.

“Well probably buy it, planning to use it for the family. But if someone tells us we can make $1,000 a night, it’ll be hard not to turn it into a business as well,” he says.

 

https://torontolife.com/real-estate/a-toronto-family-bought-a-cottage-in-prince-edward-county-for-685000-then-they-realized-what-it-could-fetch-on-the-rental-market/

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Seems that there must be an election coming, the CBC has just come out with a "REPORT?" that is critical of the Conservatives and contains numerous comments about "Big Bad Harper".  Hmmmm  government funding talking again?

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Sunday, July 25, 2021

 

 

 

 

 

 

Between the tabling of the federal budget in April and the end of the parliamentary sitting in June, Conservative Erin O’Toole asked dozens of questions in the House of Commons and spoke thousands of words. Not one of those words was “deficit.”

Granted, what happens in question period doesn’t always reflect what actually matters most in the world. And Conservatives have not stopped worrying entirely about government spending -- Pierre Poilievre, in particular, has latched on to the idea that the current pace of federal spending is somehow leading to inflation.

But O’Toole is also promising only that a Conservative government would aim to balance the budget over a period of ten years -- a commitment that would take at least three elections to fulfill.

This relative lack of urgency on the opposition side might speak to this peculiar moment — the pandemic and its aftermath. It might also be further evidence that the balanced budget era — when running a deficit was thought to be inherently bad — is truly over.

So what comes next?

The balanced budget era could be said to have run from roughly 1994 to 2015, though its roots go back to the 1980s — but it was in some trouble even before Justin Trudeau’s Liberals came to power on an explicit promise to spend more.

On election day in 2008, Stephen Harper declared that under a Consevative government, “we'll never go back into deficit.” Five weeks later, he acknowledged that deficits would be “essential” if countries were to combat the recession caused by the global financial crisis. 

The Harper government ended up running an annual deficit for six consecutive years. The sky didn’t fall. In fact, it was later argued that many claimed the Harper government undermined economic growth when it cut spending to return to balance as quickly as it did.

Still, it was considered wildly bold and daring when the Liberal platform in 2015 included deficits. Even the NDP at the time was insisting on balanced budgets. But then the Liberals won a majority — and neither the sky nor the Trudeau government fell when the actual deficits were larger than promised.

The Conservatives also began to shift. Andrew Scheer initially vowed that a Conservative government led by him would balance the budget in two years. Shortly before the 2019 election, that timeline became five years. 

 

http://newsletters.cbc.ca/i/amf_cbc/project_93/Issue38/CP125276303.jpg?size=1212x0&w=Bw_s_b5mn2OlgRgZTUPXM84w_Ke0

Conservative Leader Erin O'Toole asks a question during question period in the House of Commons in June of this year. (The Canadian Press/Justin Tang)

 

The deficits from 2015 to 2019 now seem quaint when compared to the $354 billion deficit the federal government estimates for 2020-2021. But the sky hasn’t fallen and there is relatively little debate about the need for that spending.

A recent poll by the Angus Reid Institute found that while concern about government spending exists, it has barely budged since the start of the pandemic and is still only a top-three concern for Conservative supporters.

At the same time, no major party is vowing to cast off all restraints. Even if a national government’s debt never really needs to be repaid, technically, no one is claiming that deficits don’t matter. The Liberal government is planning for the annual deficit to gradually decline to $30.7 billion in 2025-2026.

Proposals for “fiscal anchors” now include measuring the size of the federal debt in relation to the Canadian economy (the debt-to-GDP ratio) or the annual cost of covering the interest on that debt (debt servicing charges). Opinions vary, of course — the CD Howe Institute released a “shadow budget” in April that imagined a surplus in 2025 (though it would require raising the GST by two points).

But the old goal of strenuously avoiding debt might be fading away in favour of managing debt, along with the costs and risks of carrying it.

“The [fiscal anchor of a] balanced budget … told the government — and Canadians — when it was time to restrain spending or raise taxes. We needed that rule for accountability in government,” said Michael Smart, an economist at the University of Toronto and co-director of the Finances of the Nation website.

“But a balanced budget makes no sense right now. Interest rates are low and we have real spending needs, so we should borrow. But we still need a fiscal anchor. Borrowed money is not free.

“So how do we know how much borrowing is too much? … Once the pandemic is over and the economy has largely recovered, we should make sure that the net debt to GDP ratio starts to fall again. As long as that happens, we'll know we are on the right track.”

No doubt, part of the political and practical value of a balanced budget policy is its simplicity -- underpinned by the deeply flawed idea that a government budget is analogous to a household budget. But Alex Himelfarb, a former clerk of the Privy Council, has said that when debt avoidance is coupled with political and public aversion to broad tax increases, the result is a low ceiling for policy ambitions.

In that sense, the end of the balanced budget era is a victory for progressives. The next Conservative government might find it even harder to argue that spending cuts are necessary. 
 

 

http://newsletters.cbc.ca/i/amf_cbc/project_93/Issue38/CP13382584.jpg?size=1212x0&w=Bz5-XG2d6tFpoFVhqVLNS0IkDya0

Former Conservative prime minister Stephen Harper began his political career saying his government would not go into deficit, then came the stress of the global financial crisis. (The Canadian Press/Sean Kilpatrick)

On the other hand, governments that spend more could be more vulnerable to the claim that they’re wasting public money. Progressives also have to remember that a future fiscal crisis linked to increased spending could lead to a new era of austerity, as it did in the mid-1990s.

And while the fiscal track laid out by the Trudeau government shows a declining deficit and a debt-to-GDP ratio that falls after this year, the Liberals still haven’t accounted for a possible increase in health transfers to the provinces. The federal government’s finances are currently sustainable; the finances of provincial governments are not so healthy. 

Pointing to the inequities and weaknesses exposed by COVID-19, Himelfarb argued in March that the balanced budget era improved Canada’s “fiscal resiliency,” but at the cost of “social resiliency.” He also said that the debate now should be about what is and isn’t a good use of borrowed money.

That could be a useful frame for the upcoming election campaign. But a greater focus on what public investment might actually accomplish is probably overdue.

“I think when we talk about debt that, instead of focusing on the numerator, we should be focusing on what are we doing to maximize the denominator, which is GDP, which makes any debt load easier to manage if you've got more money to make the payments,” said Armine Yalnizyan, an Atkinson fellow on the future of workers.
 
“And so, consequently, you have to look at maximizing the potential of your own workforce,” “We really need to introduce a new concept to our budget-making, which is, ‘What are we getting for our money?’”

Something like funding for child care might be understood as a way to boost the workforce participation of parents and support the welfare and potential of children. Conversely, the Liberal government’s recent decision to boost Old Age Security might be harder to justify. 

At the same time, Conservatives might be happy to apply a very strict value-for-money rubric to all sorts of government spending.

Either way, the question of whether the budget was perfectly balanced would no longer be paramount.

 

n

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7 hours ago, Kargokings said:

Seems that there must be an election coming, the CBC has just come out with a "REPORT?" that is critical of the Conservatives and contains numerous comments about "Big Bad Harper".  Hmmmm  government funding talking abain?

n

Has it ever stopped ??

This is the Liberal go to phrase, "not our fault, Harper did it, even though he hasn't been around for 2 terms.

 

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Poll shows potential election surprises

 

  • Calgary Herald
  • 27 Jul 2021
  • DON BRAID Don Braid's column appears regularly in the Calgary Herald. Twitter: @Donbraid Facebook: Don Braid Politics
img?regionKey=T3NS5jCjFn3DTYhRQBuYlw%3d%3d  

Liberal election preparations have moved from busy to frenetic. The call could come soon for a national vote in September.

Liberal candidates and campaign workers are being bombarded with events planned by party central. The most interesting, according to a batch of messages passed on to me, is for a “weekend virtual boot camp” on Aug. 14.

This is a giant cheerleading session that typically precedes the formal writ drop. Some expect the call to come Aug. 15 for voting on Sept. 20.

That would mean a 36-day federal campaign, the minimum required.

But campaigns can last up to 50 days. The federal chief electoral officer, Stéphane Perrault, told a Commons committee in June that he prefers a campaign longer than 36 days, a rare public opinion from the person who runs the voting.

“There is merit to a longer writ period in a pandemic, because everything takes more time,” Perrault said, quite reasonably.

This suggests the call could come earlier in August or the voting later in September.

It gets confusing, but those involved in Liberal campaigns are pretty sure of one thing, the election will be over by the end of September.

According to The Hill Times, candidates have been told to secure two-month leases for campaign offices.

In Alberta, some people involved are being encouraged to cancel holidays set for August and September. Nominations, mostly by acclamation, are rushing ahead.

All this could be cancelled on Prime Minister Justin Trudeau's whim, of course. It's still a ludicrous feature of our system that the person with the deepest self-interest gets to set the date.

But the machine is in top gear now. Postponing for weeks or months would demoralize candidates. Far worse, from the Liberal viewpoint, the government could be faced with a fall wave of COVID -19.

The conventional wisdom among Liberals is to get this over while there's still some public afterglow from billions of dollars in pandemic supports, as well as success in supplying vaccines.

Recent polling, notably an Ipsos survey for Global News, shows the Liberal lead slipping a bit and the Conservatives starting to come on. Further erosion could threaten the majority the Liberals so ardently want.

The Alberta numbers in this poll are fascinating, and possibly unprecedented.

They show the Conservatives at 36 per cent, far below their typical support of well over 50 per cent.

The Liberals sit at 24 per cent — high enough to give them a shot at a couple of urban seats, most notably Calgary Skyview.

But the real Alberta shocker is federal NDP support; it's 31 per cent, only five points behind the Conservatives.

The reason, Ipsos concludes, is that “(Premier) Jason Kenney's troubles continue and serve to boost federal NDP fortunes within the province.”

If true, it's remarkable that a UCP premier could be both hurting the Conservatives and helping the federal wing of his NDP opposition.

NDP MP Heather Mcpherson already holds Edmonton Strathcona, the federal riding that includes provincial leader Rachel Notley's own turf.

Mcpherson is the only non-conservative MP in the province. She could soon have company.

An NDP breakthrough of even a few seats would be a genuine first in Alberta. And the Liberals would have themselves to blame.

Many young progressives, from Edmonton and Calgary to Toronto, were furious when Trudeau backed out of his 2015 election promise to bring in proportional representation.

Most federal Liberals wanted nothing to do with it. The old winner-take-all system has served them well over a couple of centuries.

But Trudeau had cynically made that promise to attract young urban progressives in 2015. Breaking it was one reason why, in 2019, the Liberals lost all four Alberta seats they'd won in 2015. He isn't likely to win them back now. And the NDP is all in for proportional rep, which allocates seats to parties based on their percentage of the vote.

This election won't shake Alberta's Conservative landscape. But it could come with surprises.

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More money = more votes????

The federal government is finalizing a multi-billion-dollar agreement with Newfoundland and Labrador to financially restructure the over-budget and behind-schedule Muskrat Falls hydroelectric project, CBC News has learned. Sources with knowledge of the agreement say Ottawa will buy an equity stake in the project and guarantee more of its debt to reduce borrowing costs and help keep electricity prices low. The precise dollar amounts weren't shared with CBC News. Sources say negotiations are continuing today with the aim of finalizing the agreement in the hours before the prime minister's scheduled pre-election visit to the province. Prime Minister Justin Trudeau and Premier Andrew Furey are expected to announce the deal in St. John's today. Read more about the agreement.

Trudeau to provide $5.2B for Newfoundland hydro project

With climate goals and likely election, feds reach agreement for Muskrat Falls

  • Calgary Herald
  • 29 Jul 2021
  • KAIT BOLONGARO and ESTEBAN DUARTE
img?regionKey=Jfm37peb47%2bctJ9j%2fMf7ag%3d%3dANDREW VAUGHAN/THE CANADIAN PRESS FILES The Trudeau government will take equity in Muskrat Falls, whose construction site for its Newfoundland hydroelectric facility is pictured from 2015. It will give debt guarantees as well, all part of a $5.2-billion restructuring agreement with Newfoundland.

Prime Minister Justin Trudeau is stepping in to aid a long-delayed, over-budget hydroelectric project in Newfoundland and Labrador as he lays the groundwork for a likely September election.

The government will take equity in the Muskrat Falls project and provide debt guarantees as part of a $5.2-billion restructuring agreement with the Atlantic province, which includes $2 billion in government financing, according to a news release from Trudeau's office Wednesday.

The deal earmarks $1 billion for an investment in Newfoundland's portion of the project's Labrador-island Link and a $1 billion federal loan guarantee for the Muskrat Falls dam and its transmission lines.

“This province has a lot of hydroelectricity potential, and the projects are part of our plan to reduce emissions in Canada and fight climate change,” Trudeau told reporters in the provincial capital of St. John's, alongside Premier Andrew Furey.

Costs for the Muskrat Falls project have soared to more than $13 billion, nearly double early projections.

Furey has likened Muskrat Falls to an “anchor around the collective souls” of the province. Its looming impact on provincial finances is set against an already grim financial situation: The province projected an $826-million deficit in its latest budget, coupled with $17.2 billion in net debt.

Wednesday's deal also includes a federal government commitment to make annual transfers to Newfoundland to help the province mitigate a spike in electricity rates due to the project's cost. The estimated $3.2 billion is equivalent to Canada's revenue from the Hibernia offshore oil project. Provincial authorities will still be responsible for setting hydro rates.

The CBC first reported news Tuesday evening.

Newfoundland and Labrador, with about 520,000 people, is Canada's second-smallest province by population. Trudeau's Liberal Party holds six of its seven districts in the House of Commons and wants to retain them as he seeks a path to regaining a parliamentary majority.

The announcement marks another intervention by Trudeau in the 824-megawatt dam on the lower Churchill River in the sparsely populated Labrador region. In November 2016, the government guaranteed nearly $3 billion in debt for the project after costs ballooned from an initial $7.4 billion.

The debt associated with Muskrat Falls is one reason investors demand a higher risk premium to hold Newfoundland bonds compared to other Canadian provinces. Credit rating firms have been looking for a viable plan on repaying the money without forcing consumers to pay soaring electricity prices.

The province has an A rating from S&P Global Ratings, five notches below Canada's AAA rating and one notch lower than Ontario's.

Newfoundland last sold debt on April 23 when it issued $200 million of 2050 bonds, according to Bloomberg data. The notes were quoted to yield 2.937 per cent Tuesday, about 38 basis points higher than a similar duration security issued by Ontario, according to Bloomberg bid prices.




 

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Regarding the federal “green investment” in the Muskrat Falls project, the Globe and Mail makes some interesting points:

Quote

And now Mr. Trudeau is throwing in another $5.2-billion. Part of it will be invested in the project itself, but the majority will come in an odd way: as an annual federal transfer equivalent to the royalties Ottawa collects from the Hibernia oil field, estimated to be $3.2-billion over the next 26 years. The money will keep Newfoundlanders’ hydro bills from doubling when Muskrat Falls comes online, which is what would happen if the province had to charge a rate based on the actual cost of the project producing the electricity. We have questions.
 

Is it now the purpose of federalism to directly subsidize provincial utility bills with federal dollars, on the grounds that the gross mismanagement of a megaproject is a natural disaster akin to a pandemic?

Is the Trudeau government prepared to return resource royalties to other provinces facing hard times?

And how green is Newfoundland’s overpriced hydroelectric power, if its cost to consumers is subsidized by federal revenues that come from the oil industry?

It also should be noted that a $5.2-billion handout to a province with a population of 520,000 is massive on a per capita basis. In Ontario, its equivalent would be $148-billion; in Alberta, $44-billion. None of this makes any sense, except as an election handout designed to secure Newfoundland’s seven seats in the House of Commons, six currently held by Liberals.

Other than that, it’s madness. It would be one thing for Ottawa to step in and help a struggling, sparsely populated province that has a crushing debt burden of $47.3-billion and real financial problems. It’s another altogether to subsidize its citizens’ electricity bills out of the blue. Is that really the help Newfoundland needs?

 

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In advance of the election call, more money promised...

CORONAVIRUS | News
 

Canada extends pandemic benefits through to Oct. 23

Published Friday, July 30, 2021 11:31AM EDTLast Updated Friday, July 30, 2021 11:42AM EDT 

OTTAWA -- Finance Minister Chrystia Freeland says the government is extending pandemic aid programs by an extra month beyond the previously planned end date.

The decision means that wage and rent subsidies for businesses, and income support for workers out of a job or who need to take time off to care for family or stay home sick, will last until Oct. 23.

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