investment – mackaycartoons

Friday May 16 2025

May 16, 2025 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday May 16 2025

Ontario’s Budget Crossroads: Investing in Uncertain Times

April 16, 2025

As Ontario gets ready to roll out its provincial budget, it’s clear that we’re dealing with some serious challenges. The Trump tariffs have hit our manufacturing and auto parts sectors hard, creating uncertainty not just here, but worldwide. In these times, it’s crucial to focus on smart investments rather than cutbacks to keep our economy stable and growing.

The tariffs are a major blow to Ontario’s economy, affecting key industries that drive our prosperity. This budget needs to show a commitment to helping these sectors through targeted investments that can make a real difference.

News: Ford pledges Ontario budget with infrastructure spending, not cuts, to battle U.S. tariffs

One area that stands out is infrastructure. Investing in things like better transportation, modern public facilities, and clean energy projects can create jobs now and set us up for success down the road. These projects boost productivity and competitiveness, and they can spark broader economic growth.

January 29, 2025

However, we’ve seen mistakes in the past with spending, like the expensive cancellations of renewable energy projects, the dubious Highway 401 tunnel idea, and the controversial decision to open up parts of the Greenbelt for development. These moves have raised concerns about wasteful spending and environmental impacts. Going forward, the government needs to make sure that money is spent wisely, with clear benefits and a focus on transparency.

It’s also essential to protect services like healthcare and education from budget cuts. These are crucial for everyone’s well-being and future potential.

News: Ten things you should know about Ontario’s budget

March 27, 2024

As we look to this new budget, there’s a chance to make choices that support both fiscal responsibility and smart investment. By prioritizing infrastructure and protecting our natural spaces like the Greenbelt, Ontario can tackle the current economic challenges and build a stronger future. This approach not only addresses immediate needs but also aligns with long-term goals, ensuring stability and growth. In these uncertain times, especially with the far-reaching effects of the Trump tariffs, thoughtful investment will be key to overcoming global economic challenges and securing a sustainable path forward for Ontario.

No Substack posting today. It’s Spring and duties to mow the lawn come before substack postings. Instead, enjoying the toiling I did today on the boring subject of provincial budget time. See the static version in tomorrow’s Hamilton Spectator. Don’t forget to like, if you like what you see here, it encourages me to post.

– The Graeme Gallery

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Tuesday February 25, 2025

February 25, 2025 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday February 25, 2025

Doug Ford’s Electric Vehicle Gamble: A Fortunate Oversight in Election Season

November 22, 2024

As Ontario approaches its election on February 27, 2025, Premier Doug Ford faces a challenging situation with his ambitious plans for the electric vehicle (EV) industry. While he’s committed to boosting this growing sector, threats from U.S. President Donald Trump and uncertainties in the car market present serious challenges that shouldn’t be ignored.

News: As Trump threatens, should Ontario keep its ‘eggs in the EV basket?’

Ontario has a long history in the traditional car industry, and the shift to electric vehicles marks an important change. Ford’s strategy, however, depends heavily on stable U.S. policies and decisions. Trump’s recent cuts to EV incentives and threats to tax Canadian imports highlight the risks. Since a lot of Ontario’s car production goes to the U.S., a drop in EV demand there could be disastrous. The province has invested billions, which could be wasted if the market doesn’t grow as expected.

Political opponents like NDP Leader Marit Stiles and Liberal Leader Bonnie Crombie have questioned Ford’s plans. Crombie’s comment about “putting all our eggs in the EV basket” shows concerns about relying too much on one industry. Surprisingly, this issue hasn’t been a major topic in the election, possibly because voters are focused on immediate issues like healthcare and education.

News: Ford says he’ll honour Ontario’s EV commitment, Crombie and Stiles less definitive

June 3, 2023

It’s lucky for Ford that the risks of his EV plan haven’t become a major election issue. However, this could be risky. While it helps him push his EV agenda, it also leaves a major weakness unaddressed, which might be used against him as the election nears.

The impact of focusing on the EV industry is significant. The car sector supports about 100,000 jobs and adds nearly $15 billion to Ontario’s economy. A downturn, especially if influenced by U.S. policy changes, could lead to job losses and economic problems. Ford needs to see that while he’s promoting an innovative idea, he’s also risking the province’s economic future.

News: Stellantis pauses work on Jeep Compass, leaving future of Brampton plant up in the air

May 17, 2023

In summary, Doug Ford’s dedication to the electric vehicle sector is admirable but uncertain. As he campaigns, he should be thankful that these concerns haven’t turned into major opposition. However, he shouldn’t ignore this. Ford must tackle the weaknesses in his EV strategy, diversify Ontario’s economy, and prepare for possible issues from unpredictable U.S. politics. Ontario’s economic future might depend on it.

As we approach this Thursday’s provincial election, there’s something that’s been quite under the radar. Doug Ford’s big investments in EV battery deals, which cost billions, aren’t really being talked about. The opposition isn’t bringing it up, and Ford’s not making a big deal out of it either.

Why the quiet? Well, Donald Trump’s focus on fossil fuels has kind of overshadowed green energy efforts. Now, any push to help the planet and invest in renewables is brushed off as “woke” stuff. What’s interesting, though, is that the federal Liberals and Ford’s government have actually teamed up to invest in Ontario’s green sector—something you don’t see often.

It was a move everyone agreed on when the U.S. was more supportive. But now, with those days gone, there’s this odd silence on an issue that might become a big challenge for Ford in the future. Even as he looks set for a big win this week, I wonder how this will all play out.

Check out my making-of animated editorial cartoon for February 24, 2025, below! If you haven’t yet, please subscribe to my Substack newsletter, where I share weekly editorial cartoons every Saturday morning. Substack is a crucial platform for me amidst the uncertainties of being a staff cartoonist, especially given recent layoffs and newspaper closures affecting our field. As long as I hold my position, subscriptions will remain free. Thank you for your support! This “note” helps craft my weekly posts and showcases animated versions of my cartoons. Enjoy!

– The Graeme Gallery

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Tuesday April 22, 2024

April 23, 2024 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday April 22, 2024

Trudeau and Freeland: Lost in the Political Desert

Inspired by Arizona

Reflecting on my recent trip to Arizona, where I explored the breathtaking South Mountain and wandered through the Desert Botanical Gardens in Phoenix, I couldn’t allow the fresh memories from the desert to fade without using my experience to create something useful—a cartoon that sheds light on the economic challenges facing Canada under the leadership of Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland.

As I hiked up South Mountain, surrounded by saguaro cacti and vibrant desert blooms, I was struck by the resilience of the desert ecosystem—a stark contrast to the fiscal uncertainty plaguing our nation. The metaphor of Trudeau and Freeland wandering aimlessly in a political desert, devoid of clear economic direction, began to take shape in my strange cartoonist mind.

December 30, 2021

The recent federal budget presented by Freeland left many Canadians questioning the government’s ability to navigate our economic challenges. Trudeau and Freeland’s approach to fiscal policy resembles a desperate search for water in the desert—marked by reckless spending increases and tax hikes on private investment, sending troubling signals to entrepreneurs and businesses.

Inspired by this juxtaposition, I sketched an editorial cartoon that combines my desert experience and the economic realities at home. In my cartoon, Trudeau and Freeland are depicted as lost in the political desert, surrounded by symbols of economic decline—an array of withering cacti representing declining GDP, menacing snakes embodying tax increases, and a fading mirage of a prosperous city in the distance symbolizing hollow promises of growth.

November 21, 2023

The cartoon serves as a visual metaphor for the challenges facing our economy, urging Trudeau and Freeland to acknowledge the severity of our economic predicament and adopt a more prudent approach to fiscal policy. Just as the desert ecosystem requires adaptation and resilience to thrive, our economic framework demands innovation, investment, and long-term strategic planning.

As the political landscape evolves and Canadians seek leadership that embraces change and progress, the cartoon serves as a reminder of the urgent need for effective economic stewardship. It doesn’t seem Trudeau and Freeland are the best to navigate the economic challenges with purpose and clarity, steering our nation towards a brighter future built on resilience and prosperity. They’re handcuffed by support from the NDP, and staring down the barrel of a Conservative Party cannon. These are end days for the Justin Trudeau Liberal Government.

The political desert beckons.

From sketch to finish, see the current way Graeme completes an editorial cartoon using an iPencil, the Procreate app, and a couple of cheats on an iPad Pro. If you’re creative, give illustration a try:

Thursday November 4, 2021

November 4, 2021 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday November 4, 2021

New net-zero alliance of banks, funds prioritizes green investment, but key emitters are absent

April 6, 2021

As a former central banker on two continents, Canada’s Mark Carney has honed the dark art of haranguing and arm-twisting members of the global investment community better than almost anyone.

But his latest task, as the United Nations’ special envoy on climate action and finance, involved some pretty daunting numbers.

Carney, who headed up the Bank of Canada and then the Bank of England between 2008 and 2020, was tasked to find more than $100 trillion US in capital from the global financial community to help drive the transformation of the world’s economy from fossil fuels to a new age powered by clean energy.

“It’s a mammoth transition,” Carney told CBC News at COP26, the UN’s climate change conference, in Glasgow, Scotland.

“It’s absolutely enormous. It’s bigger than global GDP.”

May 14, 2019

On Wednesday, designated finance day at the Glasgow conference, Carney announced success, of sorts.

“We have banks, asset managers, pension funds, insurance companies from around the world — more than 45 countries — and their total resources, totalling $130 trillion US,” said Carney, $30 trillion more than the target.

Carney says more than 450 firms — including Canada’s big five chartered banks — have committed to supporting the goals of what’s become known as the Glasgow Financial Alliance for Net Zero (GFANZ).

Net zero means countries are no longer adding heat-trapping greenhouse gases to the atmosphere. Some greenhouse gases might still be emitted, but they would be balanced off or “cancelled out” by the removal of an equivalent amount of greenhouse gases. The concept is similar to carbon neutrality but includes more than just carbon dioxide emissions.

December 1, 2015

Firms that sign onto the GFANZ agreement are promising to abide by 24 financial initiatives that will signal to their customers, shareholders and investors that they are making green investments a priority.

The initiatives include climate-related reporting of their investments and transparency about climate-related financial risks.

While the agreement doesn’t compel the financial institutions to invest any specific amount of money or put it into any specific industry, Carney says it creates a new framework for them to make green investments.

September 23, 2014

“It’s about what their clients are doing, what are the emissions of their clients, the people they lend to, the people they invest in,” he said.

However, there are notable gaps.

Big banks from some of the countries with the largest emissions — China, India and Russia — are not part of the agreement.

Nor does it compel signatories to cease funding projects such as coal mines or other ventures that contribute to greenhouse gas emissions.

But Carney says if such investments happen they will draw both shareholder and public scrutiny. (CBC)

Wednesday February 10, 2021

February 17, 2021 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday February 10, 2021

Rogers, Bell and Telus collected more than $240 million from Canada’s wage-subsidy program — and Bell and Telus raised shareholder payouts

June 18, 2020

Canada’s big three telecom companies have collectively received more than $240 million from the federal government’s wage subsidy program while continuing to pay out billions of dollars in dividends to shareholders.

According to the most recent filings in provincial lobbyist registries, Bell has received $122.9 million, Rogers $82.3 million and Telus $38.6 million in support payments as part of the Canada Emergency Wage Subsidy (CEWS).

Since the beginning of the pandemic, the three companies have continued to pay out regular dividends to shareholders; Bell and Telus have announced increases to their annual payouts. Both Bell and Rogers have also laid off workers at their hard-hit media divisions.

Other large businesses have also paid out dividends while receiving CEWS support, including numerous companies in the oilpatch, auto-parts maker Linamar and furniture retailer Leon’s. (Torstar, the parent company of the Toronto Star, is among the recipients of the federal wage subsidy.)

April 2, 2020

Economists say the relief payments to large, profitable companies with ample access to credit illustrate problems in the way CEWS is designed, in these cases leading to benefits for shareholders but not necessarily targeted support for workers whose jobs are at risk. One Liberal MP is calling on the government to claw back payments from companies that have paid dividends.

“CEWS is sold as a wage subsidy, but it’s really a business expense subsidy,” said Amin Mawani, associate professor of taxation at the Schulich School of Business at York University.

Mawani has argued that Canada should consider a model where the government pays subsidies only in respect of employees who miss hours of work because of the pandemic. Under the current rules of the Canadian program, businesses with any level of revenue decline are eligible for at least some level of subsidy with respect to all their Canadian employees.

He said it is understandable that businesses would continue to pay dividends, which he described as a “cost of doing business” akin to paying interest to the bank on loans, but he questioned the need to hike payouts this year. “I don’t think shareholders were necessarily expecting an increase during the pandemic.” (Niagara Falls Review)