This week’s Liberal majority reflects Canadians’ thirst for leadership change. While the Atlantic provinces openly embraced the results, western Canada is expressing some reticence, particularly following the recent NDP sweep in Alberta.
What can we expect?
While Canadians may not agree, world leaders attributed Canada’s strong economic performance from 2008-2014 to Harper’s leadership.
Trudeau, as our new G7 representative, has no executive and minimal political experience at a time when our commodities-based economy is reeling. His ability to forge relationships with China and the US in particular is critical to our future.
Infrastructure investment can strengthen economic performance if the investment selections are sound. However, building a massive deficit over the next three years could burden the next generation when interest rates rise and the cost of managing the debt increases. Consumer debt is already at an all time high.
The Liberals have been waiting for the opportunity to once again take the stage. Canadians wanted a change in leadership and policy. In spite of a low Canadian dollar, Ontario’s manufacturing sector is weak. Oil and gas supply and production has changed our 10 year forecast. I hope today’s optimism in our new government will be borne out in reality.
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