Canada’s Finance Minister Says Provinces Must Stay Focus
Addressing an international conference, Canada’s finance minister Joe Oliver said yesterday that provinces must not take their focus off their budgets. Acknowledging the election in Ontario this Thursday, Mr Oliver said it is important that provinces are committed to growth and keeping budgets balanced. The federal budget is set to show a $6 billion surplus for 2015/16. Read the full story.
Economic Sanctions – But Not If It Hurts Us More
The crisis in Ukraine has resulted in sanctions against the Russians, however when trade restrictions could damage our own stability, we tend to find the odd loophole. Russia is such a huge global force when it comes to energy that it simply can’t be ignored or sidelined, so many of our energy companies are still involved in new deals with Russian companies. The energy companies are keen to point out that their dealings are compliant with sanctions, there is the possibility of further sanctions that could scupper some of the deals that have been signed. Read the full story.
Finance Executives Worried by Overheating Housing Market
A survey by the Bank of England shows that a large percentage of financial executives are concerned by the overheating housing market in the UK, with 40% saying that falling house prices is the greatest risk to stability. Prices in London particularly are dangerously high, driven by purchases by foreign investors, and if the bubble bursts it would be a disaster for the UK’s recovery. Read the full story.