Our Jordan Bateman gives you the heads-up on how Canadians are feeling about their money situation, digital building permits, and Calgary winning the industrial jobs race.
😬 The Financial Post reports on a survey showing 70% of Canadians think our national economy is on the wrong track, mainly due to the financial distress their own families are feeling. Nearly a third of respondents said they were worse off in September than they were a month before, and 53% are worried about day-to-day finances. Nearly 1 in 5 say they will likely default on a loan or mortgage payment before the end of 2023. The situation is grim in a lot of households right now, and another interest rate hike will further the calamity.
💻 The BC Government says it is working with 16 local governments to roll out digital options for applying for building permits. The hope is that it will speed up processing and approvals at city hall.
🏭 Calgary is thumping Metro Vancouver in the race to attract industrial investment, says the head of the Greater Vancouver Board of Trade. From Brigitte Anderson: “In the last 4.5 years, an estimated 5.1 million sq. ft. of space has been taken up by firms in Calgary rather than Metro Vancouver. This includes firms that have left the region and others that preferred to invest in Vancouver but instead chose Calgary. The economic repercussions are staggering: The study estimates that our loss of 6,300 direct jobs, $477 million in wages, and nearly $500 million in GDP is Calgary’s gain.” A shortage of industrial land in southwest BC, higher taxes, poorer government fiscal management – it’s all leading companies to put family-supporting jobs in Calgary rather than Vancouver.
