Daily Roundup: Sept 3, 2020
September 03, 2020
Hey everyone, I hope you are all doing well! Here is today’s Roundup:
Telecom markets need to open up: The US Telecom company Altice is currently negotiating to purchase Cogeco Cable, and to possibly flip the company over to Rogers. Many are commenting about consolidation in the telecom space, which is a valid concern, however; there isn’t enough conversation about competition. Competition and consumers should come first when we are talking about Canada’s telecom space. That is the only way we can deliver better service and lower prices.
Great choice in Candice Bergen: Erin O’Toole unveiled his list of deputies, which includes making Candice Bergen Deputy Leader. A great sign and clearly an indication of Erin’s understanding of concerns in the West. Erin has also said that the party is ready for an election, even if that means that an election occurs in the next few months. Whenever the next election is, my team and I are ready to go, and ready to help turn Edmonton-Strathcona blue!
Good and bad economic news: On the economy, there is both good and bad news. The good news is that household income and spending numbers suggest that Ottawa can roll back some of their emergency supports. That is a very good sign.
- That said, it does make you wonder if now is the time to rethink how we support Canadians who are in need of assistance. Some have suggested that a Universal Basic Income could be a useful tool moving forward. It’s something Conservatives need to look at carefully and consider. I would support a” grand bargain” where we get rid of all current support systems in exchange for a simplified UBI. I think I would. It would very likely make support easier to navigate, and would significantly reduce redundancies. This is something that was argued by economist Milton Friedman. The devil is always in the details. And my team’s digging into that now. Stay tuned.
- On the negative side, news has broken that Trudeau’s spending plan is apparently so outrageous that even Liberal partisans are starting to get nervous. As John Ivison rightly explains, future generations of Canadians are going to have to foot the bill for reckless spending.
Immigration: One suggestion to help us out of this fiscal mess is to expand our immigration system, which has been scaled back because of Covid19. A lot of people lament about immigration, however, those people often forget that we need new Canadians to help fill labour shortages. Right now in BC apple and pear farmers are going through a world of pain because of labour shortages, which is causing their crops to rot.
Inflation danger: The Financial Post has another great article talking about how we measure inflation. I really care about this issue because inflation, especially run-away inflation, hits low income Canadians first, and the hardest. When we have inflation get away from us, the buying power of low-income Canadians is eroded away. We need to avoid that.
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