Friday, October 31st9.0°C
23696

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

23630


Recent Trending




Today's Market
S&P TSX14571.58+112.89
S&P CDNX762.69-8.96
DJIA17368.52173.10
Nasdaq4626.74+60.602
S&P 5002014.01+19.36
CDN Dollar0.8864-0.007
Gold1168.10-30.50
Oil79.82-1.08
Lumber323.80+0.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.18+0.0089
Metalex Ventures0.03-0.005
Russel Metals32.56+0.34
Copper Mountain Mining2.04+0.07
Colorado Resources0.12-0.02
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.38+0.005

 





FEATURED Property
2086497590 HOLLYDELL Road
4 bedrooms 2 baths
$379,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


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...

_








Member of BC Press Council


23091