It is possible that like Vancouver, foreign buyers' tax may not be able to stem the rising real estate prices in Toronto.
Salman Sakir has worked as an economist for several years, including for the Government of Canada. His interest in economics mostly lie in macroeconomics, international economics, financial economics, behavioral/experimental economics and public finance.
The increase in the interest rate will have effects on various stakeholders in the Canadian economy, including consumers and businesses.
07/18/2017 14:34 EDT
The Federal Reserve recently raised benchmark interest rate by 25 basis points from one per cent to 1.25 per cent.
06/29/2017 13:05 EDT
Ontario has decided to increase its minimum wage to $15 an hour by 2019. It will become the second province after Alberta to move towards a minimum wage of $15 an hour. The implementation of a higher minimum wage is expected to affect workers and businesses differently.
06/05/2017 06:24 EDT
The 2017 Ontario Budget has suggested some proposals which are expected to have substantial effects on the lives of Ontarians. This budget is a balanced budget and this trend of a balanced budget is expected to continue for the next two years.
05/10/2017 04:32 EDT
The combination of four factors, globalization, outsourcing, automaton, and the increasing adaptation and use of artificial intelligence is taking a growing toll on the low-income and middle-class sections of the society in developed countries, which is prompting the debate for the introduction of universal basic income.
01/26/2017 04:12 EST
Debt is necessary for households to build assets and improve human capital while for the government, it facilitates government investment in the society. Debt helps companies to grow and develop. However, excessive debt held by households, companies or the government may create potential financial or economic instability.
01/10/2017 07:42 EST
Many Western countries have followed a policy of neoliberalism for the last few decades. A combination of privatization, deregulation including financial deregulation, free trade and globalization characterize neoliberalism. Neoliberalism has been a boon for global economic growth; both developed and developing countries have benefited from neoliberalism in terms of high economic growth.
11/21/2016 04:02 EST
The money that pour into tax havens does not stay there, but is invested in various countries. However, any financial flow through a tax haven makes it tax-free, and any return on it tax-free as well. Corporations and wealthy individuals invest their finances through tax havens to avoid paying taxes or reduce their tax burden. Canada is no more immune to it than any other country.
09/12/2016 10:55 EDT
Only when the fruits of globalization are enjoyed by all segments of the society, especially the low-income and middle-class, would globalization be more acceptable politically and socially by broad segments of the population.
07/12/2016 12:32 EDT
The proposed budget will increase government spending while having a deficit of $29.4 billion. It will direct billions of dollars to infrastructure spending, First Nations, and the middle class and lower income groups.
04/04/2016 03:30 EDT
Unemployment and income inequality are issues that are plaguing both countries; so, policies to ameliorate rather than exacerbate them need to be considered. Further research need to be conducted to understand the impact of the TPP on Canada and the U.S. before the trade agreement goes into effect.
03/21/2016 10:59 EDT
Globalization has brought significant benefits to the global economy, including developed countries' economies. However, it has led to decrease in the manufacturing base and employment in Canada and the US. If policies that require local content are introduced, it could boost employment in the manufacturing sector.
10/02/2015 08:34 EDT
The population in advanced countries is growing at low rates. At the same time, it is also aging. An aging population combined with low population growth rates can have important social and economic policy implications. This may have important effects on economic growth, heath care, pension system and the standard of living in advanced countries.
08/11/2015 12:35 EDT
The federal budget announced recently has interesting policies that are expected to affect Canadians. Economic Action Plan 2015 has different components that may affect the lives of Canadians differently. An important aspect of the budget is that it would be balanced in 2015-16 with a projected surplus of $1.4 billion.
05/05/2015 12:15 EDT
Taxation is mostly used by state governments to generate revenue; it is sometimes used as a policy tool to dissuade citizens from the consumption of different products or services. However, the introduction of disparate taxation may lead to unintended consequences. Disparate taxation on cigarettes may lead to the creation and expansion of black markets for cigarettes. It is very important to be cognizant of the unintended consequences of disparate taxation when it is used as a policy tool.
04/02/2015 04:44 EDT
The Canadian dollar has been declining against the U.S. dollar for the last several months. The depreciation of the Canadian dollar has corresponded with the fall in oil price. Overall, the depreciating Canadian dollar would have different effects on various sectors of the economy.
02/10/2015 08:59 EST
Falling oil prices is expected to affect the Canadian economy. The low prices may have different effects on the Canadian economy and in various geographical locations of the country. The oil sands in Alberta require high oil prices for the extraction of oil to be feasible. A fall in oil prices may make the production of oil in Alberta economically unfeasible.
12/09/2014 12:42 EST
Globalization may have played a role in the emergence of poverty in developed countries. When people in the lower income group experience long-term unemployment, they may slip into poverty. While the poverty rate has remained between 12 to 15 percent in the last few decades in the U.S., the number of people living in poverty actually increased.
10/15/2014 05:27 EDT
As a country becomes richer and some people are left behind, guaranteed minimum income may help to alleviate issues like poverty and reduce inequality. Government policies to create more full-time work that pay decent wages could be an effective policy.
10/03/2014 05:15 EDT
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