In a move that surprised pretty much everyone yesterday, the Bank of Canada lowered their already rock bottom prime interest rate to 0.75 percent as a means of dealing with the effect of falling oil prices on our economy, and in response, the dollar dropped even further. Bank Governor Stephen Poloz said that the upsides of lower oil prices could have positives, but as the economic forecast was also downgraded, he said that it could delay recovery by at least a year. Opposition reaction to the rate cut was that it showed the government was mismanaging the economy, but Justin Trudeau also wouldn’t say if he would run deficits, nor would Thomas Mulcair indicate how he would pay for his childcare promises. Andrew Coyne is not bothered by the falling dollar, saying we’ll adjust, though as I watch my purchasing power evaporate before my eyes at the iTunes store, I can’t say I’m too happy about it.
Tag Archives: Bank of Canada
Roundup: Doubling down on cognitive dissonance
With some of his trademarked clownish theatricality, Charlie Angus described his exasperation with We The Media for apparently getting the headlines wrong about the NDP’s promises around restoring the long-gun registry. Describing his reaction as having “banged his head on the table,” Angus tried to insist that no, they weren’t going to bring back the registry. Really! But they still plan to put in a system to track every gun, which is pretty much a registry, even if they don’t want to call it such. (The cognitive dissonance! It burns!). And while Angus and others try to double down on their senseless attempt at holding contradictory thoughts in their heads, it’s starting to look a lot like a facile attempt to please everyone – to play to their Quebec base (for whom the registry is a very big deal and tied to the École Polytechnique massacre), to keep their urban voters happy with their penchant for gun control, while trying to ensure that what few rural and northern voters that they have, who objected to the registry, aren’t similarly put out (and to ensure that they don’t have any other MPs rebel like Bruce Hyer did before they ousted him for standing up for his constituents wishes and thus going against party orthodoxy). It can’t really be done, certainly not how they’re describing, and yet here we are, pretending that their registry proposal isn’t really a registry, as though we’re idiots. It’s a nice try, but no.
QP: The morality of Del Mastro
With Harper off to China tomorrow, today is the only day that all of the leaders would be present this week, and it was hoped that they could make it count. Thomas Mulcair led off, asking about an amendment put forward by the Conservatives at committee that would exclude those who had been convicted of elections expenses from a bill that would strip the pensions of MPs who had been convicted of a crime, and whether it was “moral.” Harper noted that the amendment had nothing to do with Del Mastro, and that the NDP opposed previous legislation to punish MPs for malfeasance. Mulcair noted that the question wasn’t answered and gave a vague accusation about voter fraud — not government business, to which Harper reminded him that the NDP has not repaid for their illegal mailings or satellite offices. Mulcair brought up Mike Duffy and Pamela Wallin, to which Harper repeated his answer. Mulcair brought up a statement Harper made up previously in Del Mastro’s defence, and Harper reminded him that Del Mastro had not been in caucus for some time. For his final question, Mulcair brought up job losses, but Harper replied by noting the million net new job figures. Justin Trudeau was up for the Liberals, and asked about the unfairness of the income splitting proposal. Harper said that he was wrong and the measures announced last week would help every family and accused the Liberals of wanting to take the measures away. While Trudeau focused on the income splitting portion only in both languages, Harper wrapped it in the larger package of tax credits.
Roundup: Oversight versus good enough
Divisions are forming in the Commons about what happened with last week’s attack, with the Liberals now accepting that the shooter was a terrorist as that is what the RCMP have concluded, while the NDP are steadfastly refusing that label, saying that there’s not enough evidence to use it (contrary to what the RCMP Commissioner has said). But before anyone thinks that this is a signal that the Liberals are going to simply follow any anti-terror legislation that the government brings down, it’s important to note that they have also been the sharpest critics on the lack of civilian oversight mechanisms and the need for parliamentary oversight for national security agencies, as have long been recommended by a number of sources. Harper dismissed those calls and said the current oversight is enough (never mind that his government reduced oversight already by eliminating the post of Inspector General at CSIS a couple of years ago), while privacy commissioners around the country sounded the alarm. Of course, in the debate over whether the shooter was a terrorist or mentally ill, there are probably elements of both present, as the Ottawa Citizen editorial points out.
Roundup: Assisted suicide heads to the SCC
With the Supreme Court challenge to assisted suicide laws heading to the Supreme Court tomorrow, here’s a look at some of the other countries’ laws in that regard. Carissima Mathen gives us a primer on the assisted suicide case going before the Supreme Court this week.
Roundup: Getting what we ask for
From across the pond comes a very interesting op-ed for your consideration, about the kind of insult and scorn that we heap on the political class. In taking a look at the example of the deputy prime minister and Liberal Democrat leader David Clegg, currently one of the most hated men in UK politics, it looks at how everyday cynicism about politics has obscured the reasons why people get into it in the first place, and the kinds of impacts that they can have by doing the work that they do, no matter that they’re currently not popular with the people. The title of the piece also speaks volumes – “If you believe that politicians are useless, you’ll wind up with useless politicians.” It’s kind of a self-fulfilling prophecy that we are reaping in spades here in Canada as we get MPs who are increasingly disengaged from their own jobs, and who are becoming little more than ciphers for their party leaders because we, the electorate, aren’t demanding of them to do their jobs. Instead, we have bizarre expectations of them to not be politicians, and what we’re getting in return is, well, an abrogation of parliamentary oversight and boosterism for central leaders’ offices that are increasingly run by junior functionaries whose chief virtue is loyalty and not experience. We, the electorate, should start rethinking our priorities before things get too far down the dark path we’ve started down.
Roundup: Minimal amendments
The Commons justice committee did their clause-by-clause review of the prostitution bill, and they agreed to two minor amendments – one that narrowed the reach of the communication provision from anywhere that children could be present, to simply being next to schools, playgrounds of daycares; the other being that they agreed to put in a provision to review the bill in five years, though the NDP tried to get that down to two. The Liberals didn’t put forward any amendments since they voted against the bill in principle at second reading, feeling it is unconstitutional and unsalvageable. The Greens largely feel the same way. Interestingly, Independent MP Maria Mourani doesn’t feel it goes far enough, and wants prostitution outlawed writ large. Here’s a look at some of the criminalization of both the sex workers as well as pimps and johns in Canada, and apparently we have fairly low rates of going after those who abuse sex workers – but one wonders if that also has to do with the fact that the women who were abused or assaulted didn’t feel safe reporting it because they feared being further criminalised.
Roundup: Eight years later
Today marks eight years since Stephen Harper and his Conservatives gained power. How the time flies. Chris Hall writes that those years have honed Harper’s survival instincts (which makes all of those articles about Harper stepping down this year, which are still being published, all the more absurd).
Preston Manning launched a new website to promulgate constitutionally unsound and fairytale notions of Senate reform, coupled with an online poll of which “reform” method Canadians would prefer, with the option of abolition also in there. He plans to give the results to Democratic Reform Minister Pierre Poilievre, who will use the unscientific data to make a number of ridiculous Question Period talking points, and our debate on the health of our institutions will be poorer for it.
Roundup: A record year for privacy breaches
The Privacy Commissioner tabled her annual report yesterday, including a separate audit of the Canada Revenue Agency, and it doesn’t have a lot of nice things to say – a record number of complaints, a record number of reported data breaches, and over at the CRA, lax controls allowed employees to access personal tax files for no appropriate reason.
Roundup: Pamela Wallin and the conspiracy against her
Poor Pamela Wallin – that’s the story she would have us believe, based on her speech in her defence in the Senate today. Only unlike Mike Duffy, who was scorching the earth and taking the Prime Minister down with him, Wallin got personal with other Senators, naming Marjory LeBreton and Carolyn Stewart-Olsen as the architects of some kind of conspiracy against her, and gave the defence that the other Senators resented her because she was an “activist senator” – a bogus and self-aggrandising construct that presupposes that no other senator is also activist. Contrary to the myth of people who do no work and nap all day, most Senators are active in their activism around one cause or another. For most, it’s why they got appointed in the first place. In fact, most of their activism and causes are far more focused than Wallin’s, whose “activism” seemed to be largely about supporting the troops and being a motivational speaker on demand. For her part, LeBreton completely refuted Wallin’s accusations of conspiracy and of the campaign of leaks designed to “discredit” Wallin, and further added that she wasn’t responsible for Wallin’s expense claims. Because yes, those are still at the heart of the issue, and Wallin isn’t exactly offering contrition for anything on her part.