Saturday, October 25th8.4°C
23888
23371

Feds tinkering with system has business nervous

OTTAWA - The federal government is once again making the business community nervous, this time by floating a so-called wage floor as it ponders measures to tackle the troubled temporary foreign worker program.

Here is a list of some other cases where the government rocked the economic boat.

— In October 2006, Finance Minister Jim Flaherty shocked markets by going back on a campaign promise and slapping a tax on income trusts that remains a sore point with investors today.

— After four moves to cool the hot housing market, Flaherty personally intervened last spring to make sure fixed mortgage rates did not sink too low, chiding the Bank of Montreal over its decision to drop the five-year fixed rate to 2.99 per cent.

— In 2010, the government intervened to prevent the sale of Potash Corp. to Australian interests and enacted new rules to prevent state-owned enterprises from acquiring majority stakes in the oilpatch, a move believed to be aimed at China.

— Ottawa has repeatedly interfered in the telecommunications sector, making it known it would not welcome the purchase of new players by one of the Big Three telecom companies.

— In this year's budget, the government announced it would cap what those telecommunications companies could charge new entrants for their wholesale services.

— The Tories have also pledged to introduce legislation to crack down on multinational companies that charge Canadian customers more than Americans on everything from books to clothing and appliances.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



23658

FEATURED Property
18665502 - 4190 Lakeshore Road, Kelowna, BC
3 bedrooms 3 baths
$2,295,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


23741