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cost of living

Tuesday May 17, 2022

May 17, 2022 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday May 17, 2022

Ontario NDP plan to run deficits for 6 years and cancel gas tax cut

May 10, 2022

Ontario’s New Democrats are pledging to run larger deficits than the Progressive Conservatives and Liberals if elected and would likely not balance the budget for six years, but the party is eyeing some cost savings from cancelling a gas tax cut.

That pledge is expected to save $600 million in the first year by reversing the Progressive Conservative government’s move to reduce the provincial portion of the gas tax by 5.7 cents a litre for six months starting July 1.

Catherine Fife, who has served as the NDP’s finance critic, presented the costing Sunday and acknowledged the high cost of living, including rising gas prices that have topped $2 a litre, but said the temporary cut from the Tories is just a “gimmick.”

“We are looking for a long-term, sustainable strategy to alleviate gas prices, but also to stabilize,” she said, pointing to the party’s promise to regulate gas prices.

Posted in: Ontario Tagged: 2022-17, affordability, Andrea Horwath, cost of living, gas, gasoline, inflation, NDP, Ontario, pillory, tax

Wednesday May 10, 2022

May 11, 2022 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday May 10, 2022

As cost of living soars, affordability becomes top Ontario election issue

August 14, 2014

In every Ontario election poll that’s publicly available, the number one concern of voters is the rising cost of living. 

Affordability has rocketed past the perennial top issues of health — even after two years of a global pandemic — and jobs, with the unemployment rate at record lows. 

While the Ontario party leaders are often talking on the campaign trail about making life more affordable, it’s a wonder that they’re not hammering the issue even harder, given how strongly it’s resonating with voters.

“The smart politicians won’t just talk about [the cost of living] as an issue, they will understand it’s a character test,” said Greg Lyle, a veteran pollster and president of Innovative Research Group.

Posted in: Canada, International, Lifestyle Tagged: 2022-16, affordability, Canada, cost of living, Economy, Family, graph, inflation, Ontario

Tuesday June 22, 2021

June 29, 2021 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday June 22, 2021

After a year of pandemic prudence, Canadians likely eager to spend the billions saved

If there is one silver lining to the COVID-19 pandemic for Grayham Havens, it was celebrating his two-year anniversary with his wife by purchasing a house last month.

January 18, 2018

All the government restrictions during the pandemic helped him drastically reduce his spending over the last year and begin socking away cash every month. After clearing leftover debt, the couple saved enough for a down payment.

Now, at the age of 40, Havens is a first-time home owner.

“We’re so fortunate, very fortunate, to get something like this,” he said about their grey bungalow in southeast Calgary, complete with a large deck, fire pit and pond in the backyard.

Havens isn’t alone. Canadians have saved a record amount of money during the pandemic, resulting from the combined impact of reduced spending and collecting more money from government support programs.

Havens and his wife were both able to collect Alberta’s critical worker benefit, as he was working in the grocery sector and she was involved in health care.

At the same time, their discretionary expenses — spending at places like restaurants and movie theatres — dropped sharply.

“We started saving thousands every month,” he said. “It started making me realize just how bad we were budgeting our own money in the first place. I mean, money was leaking left and right.”

Not everyone has extra money in the bank — but many do.

In fact, Canadians amassed $212 billion last year, versus $18 billion in 2019, according to Statistics Canada. That works out to $5,574 per Canadian on average in 2020, compared to $479 in the previous year.

The average savings rate jumped from 1.3 per cent of disposable income in 2019, to 14.9 per cent in 2020. In April, May and June of 2020, the savings rate peaked at about 27 per cent.

As a result, credit card balances are down, fewer people are behind on payments and credit scores are up, according to credit rating agency Equifax Canada.

The situation varies greatly from household to household, as there continues to be a deep division between the financial situation of many Canadians. In short, if you were able to keep your job and stay healthy, you were likely to see your finances improve during the pandemic.

“It was easy to save. It was not very forced. I can’t go get my nails done, get my hair done, going to the pubs a lot less,” said Karen Jacobs, who also purchased her first house, with her husband, in February.

They are now renovating the home from top to bottom after saving nearly $1,000 a month during the pandemic, including through lower phone and insurance bills.

The record level of savings is not the only reason behind Canada’s rising home prices, but it could provide a significant level of economic stimulus across the country. (CBC) 

 

Posted in: Canada Tagged: 2021-22, Canada, cost of living, covid-19, inflation, pandemic, Pandemic Times, piggy bank, price hikes, savings, taxes, Wheel of Fortune

Thursday December 13, 2018

December 13, 2018 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday December 13, 2018

Food price report predicts average family to pay $400 more for groceries next year

The average Canadian family will pay about $400 more for groceries and roughly $150 more for dining out next year, an annual food price report predicts.

December 8, 2016

Food prices will rise between 1.5 to 3.5 per cent in 2019, according to the report from researchers at the University of Guelph and Dalhousie University. That means the average family of four will spend $12,157 next year — up $411 from 2018.

Vegetables will see the biggest price jumps — between four and six per cent for the category, according to the report.

Meanwhile, meat and seafood prices are expected to fall, with the meat category to decline by one to three per cent and seafood costs to remain the same or fall up to two per cent.

Since 2015, the team has predicted prices in those two categories would rise as high as six per cent each year.

“This is a bit of a risk for us … We’ve never done that,” said Sylvain Charlebois, one of the lead researchers and a professor at Dalhousie University, referring to anticipating a decline.

But the team is confident in its prediction.

April 25, 2014

They believe there’s an oversupply of meat, he said, and Canadians are eating less animal protein. Instead, they’re showing more interest in alternative proteins, like quinoa and lentils.

The plant-based protein trend is evident in recent manufacturer and restaurant moves as well.

Meat processors Maple Leaf Foods Inc., for example, acquired two companies in this niche in recent years, Lightlife Foods and Field Roast GrainMeat Co. 

At the same time, fast food chains have started adding vegan and vegetarian options to their menus. A&W Food Services of Canada Inc. even temporarily sold out of its Beyond Meat patties shortly after adding them to its menu.

Industry watchers have attributed the demand for plant-based protein to millennials, health-conscious baby boomers and concerns around antibiotic use in agriculture.

December 23, 2004

A turning point for animal protein, though, was 2014 when beef prices started to rise dramatically, said Charlebois.

Between December 2013 and December 2014 the monthly average retail price for one kilogram of ground beef rose more than 26 per cent, according to Statistics Canada data. For comparison, the price advanced about 3.5 per cent from December 2012-13. It reached a record high of $13.23 in October 2015.

“It really spooked consumers,” said Charlebois, adding they started substituting plant-based protein into their diet.

Butchers and grocers will likely take it easy on beef prices next year in an effort to bring people back to the red meat, he said. (Source: Hamilton Spectator) 

 

Posted in: Canada Tagged: condiments, cost of living, food, nutrition, Poverty, prices, refrigerator

Thursday December 8, 2016

December 7, 2016 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator Ð Thursday December 8, 2016 Families could pay up to $420 more for food in 2017, report finds The average Canadian family may need to dish out as much as $420 more for food next year Ñ and consumers could have president-elect Donald Trump to thank for part of the price bump, the lead author of a new report says. Canada's Food Price Report, published by researchers at Dalhousie University in Halifax, was released Monday evening. The annual report, which looks ahead to 2017, cites weather disruptions caused by La Nina, energy-related costs Ñ including the potential effect of carbon pricing on the agricultural sector Ñ and a weak Canadian dollar as factors in the expected price hikes. Economists forecast the loonieÊcould fall as low as 70 cents US in 2017, and a weaker dollar would reduce the buying power of importers. "Everything we actually import from everywhere will increase in price," says Sylvain Charlebois, lead author of the report. But Charlebois, who works with the faculties of management and agriculture at Dalhousie, suggests there's one more major factor that could contribute to the increase in food prices: the incoming U.S. President. "We are expecting Canadian shoppers to be Trumped at the grocery store," said Sylvain Charlebois, lead author of the report. The annual report, which has come from the University of Guelph in years past, says the "proverbial sweet spot for food inflation" is between one and two per cent each year.ÊÊAt that rate, the increases are manageable for restaurateurs, grocery stores and consumers, the authors say. The latest report looks forward to 2017 and finds that food prices could increase between three per cent and five per cent Ñ with meat, vegetables, fish and other seafood projected to jump by as much as four to six per cent. Regionally, Ontario and British Columbia are expected to see most of the increases. (Source: CBC)Êhttp://www.cbc.ca/news/business/food

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday December 8, 2016

Families could pay up to $420 more for food in 2017, report finds

The average Canadian family may need to dish out as much as $420 more for food next year — and consumers could have president-elect Donald Trump to thank for part of the price bump, the lead author of a new report says.

Friday December 11, 2015 Payday loan industry comes under microscope The province is moving to protect vulnerable people from cash stores and collections agencies Ñ but a local councillor calls the efforts "half-hearted." If passed, new legislation by the Ontario government promises to increase protections under the Payday Loans Act, Consumer Protection Act and the Collection and Debt Settlement Services Act. The aim is to provide safeguards such as a cap on the rates charged by cheque-cashing services, a grace period for repayment for customers of rent-to-own services and reasonable costs for optional insurance on instalment loans. It would also offer longer repayment periods for repeat payday loan borrowers, and expanded rules against unfair collection practices from businesses that purchase and collect overdue debts. But Ward 3 Coun. Matthew Green says the legislation "doesn't go nearly far enough in terms of really tackling the core elements and the predatory nature of this industry." There are 813 licensed payday lenders in Ontario Ñ more than there are McDonalds restaurants. Roughly 35 of those are in Hamilton, according to the ministry's online database. For starters, Green wants to see the "ridiculous" interest rates on payday loans slashed. Green put forward a motion this summer to limit and regulate these stores at a municipal level, which would have made Hamilton the first city in the province to do so. Staff is now looking into the feasibility of that. In the meantime, he and a working group made up of local agencies, including credit unions, are actively researching a model for a market alternative low-cost loan service. Tom Cooper, director of Hamilton's Roundtable for Poverty Reduction (HRPR), says he'd like to see provincial legislation that enables municipalities to license lenders at the local level. He agrees there's more work to do on this. "At the end of the day É these services are predatory by nature and they'll continue to take a

December 11, 2015

Canada’s Food Price Report, published by researchers at Dalhousie University in Halifax, was released Monday evening.

The annual report, which looks ahead to 2017, cites weather disruptions caused by La Nina, energy-related costs — including the potential effect of carbon pricing on the agricultural sector — and a weak Canadian dollar as factors in the expected price hikes.

Economists forecast the loonie could fall as low as 70 cents US in 2017, and a weaker dollar would reduce the buying power of importers.

Friday April 25, 2014“Everything we actually import from everywhere will increase in price,” says Sylvain Charlebois, lead author of the report.

But Charlebois, who works with the faculties of management and agriculture at Dalhousie, suggests there’s one more major factor that could contribute to the increase in food prices: the incoming U.S. President.

“We are expecting Canadian shoppers to be Trumped at the grocery store,” said Sylvain Charlebois, lead author of the report.

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator Ð Wednesday April 6, 2016 Panama Papers: Document leak exposes global corruption, secrets of the rich The financial secrets of heads of state, athletes, billionaires and drug lords have been exposed in the latest Ñ and biggest ever Ñ leak of records from an offshore tax haven. The leak includes 11.5 million confidential documents shedding light on the assets and murky fiscal dealings of everyone from the prime ministers of Iceland and Pakistan to soccer player Leo Messi, movie star Jackie Chan and associates of Russian President Vladimir Putin. The records, dating as far back as 1977, come from a little-known but highly influential Panama-based law firm called Mossack Fonseca, which has 500 staff working in 40-plus countries. The firm is one of the world's top creators of shell companies Ñ corporate structures that can be used to hide ownership of assets. German newspaper SŸddeutsche Zeitung obtained the files from a source and shared them with global media partners, including CBC News and the Toronto Star, through the Washington-based International Consortium of Investigative Journalists. CBC News will be exploring more of what's in the documents, including Canadian connections, in a series of stories this week. "These findings show how deeply ingrained harmful practices and criminality are in the offshore world," said Gabriel Zucman, an economist at the University of California at Berkeley and author of The Hidden Wealth of Nations: The Scourge of Tax Havens. Zucman, who was briefed on the media partners' investigation, said the release of the leaked documents should prompt governments to seek "concrete sanctions" against jurisdictions and institutions that peddle offshore secrecy. While offshore accounts are not in themselves illegal, the leaked records show they are often used to shield illicit dealings.   In a written response to questions from the media consortium, Mossack Fonseca said it "do

April 6, 2016

The annual report, which has come from the University of Guelph in years past, says the “proverbial sweet spot for food inflation” is between one and two per cent each year.  At that rate, the increases are manageable for restaurateurs, grocery stores and consumers, the authors say.

The latest report looks forward to 2017 and finds that food prices could increase between three per cent and five per cent — with meat, vegetables, fish and other seafood projected to jump by as much as four to six per cent. Regionally, Ontario and British Columbia are expected to see most of the increases. (Source: CBC)

 

Posted in: Canada Tagged: banks, Canada, cost of living, Finance, food, groceries, living, loan, prices, standard
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This website contains satirical commentaries of current events going back several decades. Some readers may not share this sense of humour nor the opinions expressed by the artist. To understand editorial cartoons it is important to understand their effectiveness as a counterweight to power. It is presumed readers approach satire with a broad minded foundation and healthy knowledge of objective facts of the subjects depicted.

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