Our Jordan Bateman gives you the heads-up on port expansion, interest rates, and toilets on construction sites.
🚢 The Port of Prince Rupert is working with DP World to study the feasibility of a $2.5 billion cargo-handling terminal expansion, reports the Globe and Mail. Rupert officials hope a world-class port will provide economic stability to the city. Right now, Prince Rupert can process 1.8 million cargo containers a year – this new facility would add 2 million more.
🏠The Financial Post reports that more homeowners are being forced to sell due to the rapid rise in interest rates. Owners are cutting expenses, taking second jobs, and still many are being forced to sell their homes. Desjardins Economics does say the inflation rate dropped to 3.8% – slightly below expectations – and they’re hopeful this will prevent another Bank of Canada increase. The Bank meets next week.
🚽 Premier David Eby announced yesterday that all B.C. construction sites with more than 25 workers will require flush toilets and running water. Expect a boom in bathroom trailer rental businesses. It’s great for large construction sites, but as with every rule a government introduces, it does come with a cost that will be passed on to the end consumer.
