May 2010.
- Thread starter Ally
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Don`t like the HST? Fine, what`s your alternative?
I`ve been travelling for most of a month, and had a lot to catch up on when I got home. Reading the pronouncements from critics of the harmonized sales tax (and they are legion), I`ve been struck by how much they say against this tax plan and how little they say about how the B.C. government ought to raise revenue instead.
I didn`t need much persuading, but a thoughtful piece by Jonathan Kesselman, a clear-eyed and even-handed tax guru at Simon Fraser University, convinced me that the status quo - the current PST - isn`t worth fighting to retain.
It is well documented that this kind of tax stifles economic growth, and this particular tax is rife with ambiguities and inequities that result from a complicated web of exemptions and exceptions. (For example, my shirt would be PST-exempt if I lied when I bought it and said it was for a teen. Or I could get a provincial tax break on a red raincoat, but not a yellow one. And on and on ...)
And even though I`m somewhat persuaded by those who argue we are taxed too much, I can`t ignore that there have been substantial tax cuts both provincially and federally in recent years. My colleague Craig McInnes made an interesting case last week that the real tax burden - as measured by how much discretionary income we have left after paying the unavoidable bills - has gone down, not up, over recent decades.
Bill Vander Zalm, the self-styled knight in shining armour who`s leading the anti-HST charge and a former premier who knows a lot about spending money, acknowledges that the government needs sales tax revenue.
Read the full article here.
I`ve been travelling for most of a month, and had a lot to catch up on when I got home. Reading the pronouncements from critics of the harmonized sales tax (and they are legion), I`ve been struck by how much they say against this tax plan and how little they say about how the B.C. government ought to raise revenue instead.
I didn`t need much persuading, but a thoughtful piece by Jonathan Kesselman, a clear-eyed and even-handed tax guru at Simon Fraser University, convinced me that the status quo - the current PST - isn`t worth fighting to retain.
It is well documented that this kind of tax stifles economic growth, and this particular tax is rife with ambiguities and inequities that result from a complicated web of exemptions and exceptions. (For example, my shirt would be PST-exempt if I lied when I bought it and said it was for a teen. Or I could get a provincial tax break on a red raincoat, but not a yellow one. And on and on ...)
And even though I`m somewhat persuaded by those who argue we are taxed too much, I can`t ignore that there have been substantial tax cuts both provincially and federally in recent years. My colleague Craig McInnes made an interesting case last week that the real tax burden - as measured by how much discretionary income we have left after paying the unavoidable bills - has gone down, not up, over recent decades.
Bill Vander Zalm, the self-styled knight in shining armour who`s leading the anti-HST charge and a former premier who knows a lot about spending money, acknowledges that the government needs sales tax revenue.
Read the full article here.
- Joined
- Mar 24, 2009
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Changing the face of downtown Mississauga
Developers Garry Sawatzky and his son Ryan are hoping to begin the demolition process of their new Mississaga Street development some time this fall.
Located between Plum Loco and Zat`s Restaurant, Municipal Parking Lot 5 and the old Audio Plus will be transformed into a two-storey, multi-use building with boutiques, a restaurant, professional space, and pedestrian corridor linking the main street with the parking lot behind.
"It`s a very important project for the block," Garry Sawatzky said. "It`s setting the tone for the future."
He has hired architect Justin Breg, who has designed the 12,874-square-foot building that ties in with the rest of the street and "stays true to the historical elevations" of the area.
Breg said he is designing the building using as much local material as possible, such as Ramara limestone and red brick.
Originally, the developers were hoping to use the original facade from the old Audio Plus building in their design, but with the advice of Breg, decided not to.
Read the full article here.
Developers Garry Sawatzky and his son Ryan are hoping to begin the demolition process of their new Mississaga Street development some time this fall.
Located between Plum Loco and Zat`s Restaurant, Municipal Parking Lot 5 and the old Audio Plus will be transformed into a two-storey, multi-use building with boutiques, a restaurant, professional space, and pedestrian corridor linking the main street with the parking lot behind.
"It`s a very important project for the block," Garry Sawatzky said. "It`s setting the tone for the future."
He has hired architect Justin Breg, who has designed the 12,874-square-foot building that ties in with the rest of the street and "stays true to the historical elevations" of the area.
Breg said he is designing the building using as much local material as possible, such as Ramara limestone and red brick.
Originally, the developers were hoping to use the original facade from the old Audio Plus building in their design, but with the advice of Breg, decided not to.
Read the full article here.
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Aaron: Land survey most important document in real estate transaction
The sad tale of the Glenlake Ave. driveway featured in the Star late last month has focussed public attention on the difference between the Land Registry and the Land Titles system of property ownership. It has underscored yet again the fact that the single most important document in any real estate transaction is the land survey — formally known as surveyor`s real property report.
As reported in the Star, the Perkovic family owns 104 Glenlake Ave. in Toronto`s west end, and the Roslins recently purchased the house next door at 106. In between the two properties is a wide driveway, leading to the back of both properties and to the Perkovics` double garage on the west and the Roslins` parking area to the east.
For 33 years, the Perkovics had been using it to access their garage. Unfortunately for them, they only own a small strip beside their house — not wide enough for a car to navigate. Recently, the Roslins blocked access by the Perkovics to their driveway.
Had the properties been registered in the old Land Registry system, the Perkovics would probably have acquired a right to the continued use of the driveway. In law, this is known as an easement by prescription, or a right of way resulting from continuous use for more than 20 years.
But since both houses were originally registered under the newer Land Titles system, the "squatter`s rights" rules do not apply and the Perkovics have no right of vehicular access to their double garage.
Read the full article here.
The sad tale of the Glenlake Ave. driveway featured in the Star late last month has focussed public attention on the difference between the Land Registry and the Land Titles system of property ownership. It has underscored yet again the fact that the single most important document in any real estate transaction is the land survey — formally known as surveyor`s real property report.
As reported in the Star, the Perkovic family owns 104 Glenlake Ave. in Toronto`s west end, and the Roslins recently purchased the house next door at 106. In between the two properties is a wide driveway, leading to the back of both properties and to the Perkovics` double garage on the west and the Roslins` parking area to the east.
For 33 years, the Perkovics had been using it to access their garage. Unfortunately for them, they only own a small strip beside their house — not wide enough for a car to navigate. Recently, the Roslins blocked access by the Perkovics to their driveway.
Had the properties been registered in the old Land Registry system, the Perkovics would probably have acquired a right to the continued use of the driveway. In law, this is known as an easement by prescription, or a right of way resulting from continuous use for more than 20 years.
But since both houses were originally registered under the newer Land Titles system, the "squatter`s rights" rules do not apply and the Perkovics have no right of vehicular access to their double garage.
Read the full article here.
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New condo sales hit record in GTA
In the next few weeks developer David Gerofsky plans to open sales of his Toronto condominium project to the general public.
The problem is, he`s already sold 75 per cent of the building`s 616 suites.
Gerofksy, president of developer Great Gulf Group of Companies, is the man behind the insanely popular One Bloor project. He started selling suites to former buyers of the original project at the beginning of April. Select agents got a crack in the second round; the general public gets to finally take a peek this month.
In other words, if One Bloor were a nightclub, the line-ups would be around the block. And Gerofsky would be the guy at the velvet rope.
"There has been a really fantastic response. It`s the best we could hope for," said Gerofksy in an interview Monday.
The 65-storey mixed-use building at Bloor and Yonge streets is considered the best prime site in the city. The original project under a different developer was a casualty of the global financial crunch in 2008. Great Gulf bought the land and brought the project to market this year.
Read the full article here.
In the next few weeks developer David Gerofsky plans to open sales of his Toronto condominium project to the general public.
The problem is, he`s already sold 75 per cent of the building`s 616 suites.
Gerofksy, president of developer Great Gulf Group of Companies, is the man behind the insanely popular One Bloor project. He started selling suites to former buyers of the original project at the beginning of April. Select agents got a crack in the second round; the general public gets to finally take a peek this month.
In other words, if One Bloor were a nightclub, the line-ups would be around the block. And Gerofsky would be the guy at the velvet rope.
"There has been a really fantastic response. It`s the best we could hope for," said Gerofksy in an interview Monday.
The 65-storey mixed-use building at Bloor and Yonge streets is considered the best prime site in the city. The original project under a different developer was a casualty of the global financial crunch in 2008. Great Gulf bought the land and brought the project to market this year.
Read the full article here.
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Toronto taxpayers hit with city`s high mileage bills
Toronto is overpaying millions of taxpayer dollars to city officials for using their personal vehicles on the job.
Most city managers get 52 cents per kilometre — a rate at least 30 per cent higher than that enjoyed by provincial government staffers.
If you drive your car as part of your job with a company, chances are you get reimbursed 40 to 44 cents a kilometer. And some employers drop the rate to around 35 cents after your first 5,000 km of the year.
Read the full article here.
Toronto is overpaying millions of taxpayer dollars to city officials for using their personal vehicles on the job.
Most city managers get 52 cents per kilometre — a rate at least 30 per cent higher than that enjoyed by provincial government staffers.
If you drive your car as part of your job with a company, chances are you get reimbursed 40 to 44 cents a kilometer. And some employers drop the rate to around 35 cents after your first 5,000 km of the year.
Read the full article here.
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Toronto`s Transit City slower, shorter
A revised Metrolinx plan shows Toronto`s four provincially funded Transit City lines have been cut by 22.5 kilometres and about 25 stops since they were first announced.
Metrolinx CEO Rob Prichard says the city and TTC agreed to reduce the scope of the projects when the TTC`s detailed estimates made it clear the plan would cost about $2 billion more than the $8.15 billion the province agreed to provide for Transit City — before the March provincial budget deferred $4 billion from its first five years of funding.
Construction has been delayed from two to five years on the Scarborough RT, Finch and Eglinton lines and they would not be completed until 2020, said Prichard, although a copy of the plan sent to the premier from the mayor says Eglinton won`t be complete until 2022.
"We worked on the phasing with the city and the TTC throughout the fall and reached a consensus by the end of February," Prichard said.
"These are difficult choices because we would all like to complete all the projects and all their phases as quickly as possible. However the original budget of $8.15 billion is a firm limit that we and the city must work within."
Read the full article here.
A revised Metrolinx plan shows Toronto`s four provincially funded Transit City lines have been cut by 22.5 kilometres and about 25 stops since they were first announced.
Metrolinx CEO Rob Prichard says the city and TTC agreed to reduce the scope of the projects when the TTC`s detailed estimates made it clear the plan would cost about $2 billion more than the $8.15 billion the province agreed to provide for Transit City — before the March provincial budget deferred $4 billion from its first five years of funding.
Construction has been delayed from two to five years on the Scarborough RT, Finch and Eglinton lines and they would not be completed until 2020, said Prichard, although a copy of the plan sent to the premier from the mayor says Eglinton won`t be complete until 2022.
"We worked on the phasing with the city and the TTC throughout the fall and reached a consensus by the end of February," Prichard said.
"These are difficult choices because we would all like to complete all the projects and all their phases as quickly as possible. However the original budget of $8.15 billion is a firm limit that we and the city must work within."
Read the full article here.
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- Mar 24, 2009
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Water torture, Toronto style
When he bought a house, Stephen Smith knew he would have to get the water account and other utilities changed to his name.
But getting it to happen, he discovered, is Toronto`s version of water torture.
Smith spent two weeks calling the number advertised on the city website: 416-338-4829.
"For a solid two weeks the number was always busy," he said. "There wasn`t even a message saying customers would be taken in turn – it was simply bogged down by the volume."
So Smith tried calling the city`s 3-1-1 information line to see if they could help.
They suggested that he email, to an address they gave him.
Read the full article here.
When he bought a house, Stephen Smith knew he would have to get the water account and other utilities changed to his name.
But getting it to happen, he discovered, is Toronto`s version of water torture.
Smith spent two weeks calling the number advertised on the city website: 416-338-4829.
"For a solid two weeks the number was always busy," he said. "There wasn`t even a message saying customers would be taken in turn – it was simply bogged down by the volume."
So Smith tried calling the city`s 3-1-1 information line to see if they could help.
They suggested that he email, to an address they gave him.
Read the full article here.
- Joined
- Mar 24, 2009
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Forecaster picks B.C., Ontario to lead economic growth
OTTAWA—The Conference Board of Canada is predicting that Ontario and British Columbia will have the country`s fastest-growing economies this year.
The private-sector economic forecaster says both provinces will see their economies grow by 3.8 per cent over last year.
Last year was especially hard on Ontario, because of problems in the auto industry and the broader manufacturing sector.
British Columbia wasn`t as hard-hit in 2009 because of preparations for the Winter Olympics in February of this year and the solid performance of its resource industries.
The Conference Board says there are clear signs of economic recovery from last year`s general economic downturn, but the rebound will be uneven across the country.
Read the full article here.
OTTAWA—The Conference Board of Canada is predicting that Ontario and British Columbia will have the country`s fastest-growing economies this year.
The private-sector economic forecaster says both provinces will see their economies grow by 3.8 per cent over last year.
Last year was especially hard on Ontario, because of problems in the auto industry and the broader manufacturing sector.
British Columbia wasn`t as hard-hit in 2009 because of preparations for the Winter Olympics in February of this year and the solid performance of its resource industries.
The Conference Board says there are clear signs of economic recovery from last year`s general economic downturn, but the rebound will be uneven across the country.
Read the full article here.
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Condos lead strong growth in home construction
Ontario housing starts edged up in April, as builders continue to break ground on new housing to meet demand.
An estimated 62,400 residential units broke ground, up by 4.5 per cent from March according to seasonally adjusted and annualized figures from the Canada Mortgage and Housing Corporation released today.
For the first four months of the year, Ontario new home construction is running 33 per cent of the levels a year ago.
"On the whole, the report underscores the strong recovery in Canadian home building activity and the Canadian housing market," said Millan Mulraine, senior strategist with TD Securities.
Much of the growth was in the Toronto market, where condominium builders are busy pouring foundations.
Seasonally adjusted starts hit 32,800 in April, up by 25 per cent from the prior month.
Read the full article here.
Ontario housing starts edged up in April, as builders continue to break ground on new housing to meet demand.
An estimated 62,400 residential units broke ground, up by 4.5 per cent from March according to seasonally adjusted and annualized figures from the Canada Mortgage and Housing Corporation released today.
For the first four months of the year, Ontario new home construction is running 33 per cent of the levels a year ago.
"On the whole, the report underscores the strong recovery in Canadian home building activity and the Canadian housing market," said Millan Mulraine, senior strategist with TD Securities.
Much of the growth was in the Toronto market, where condominium builders are busy pouring foundations.
Seasonally adjusted starts hit 32,800 in April, up by 25 per cent from the prior month.
Read the full article here.
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An inside look at 573,948 Toronto homes
Pssst . . . wanna buy Toronto? Got a cool $254 billion?
That`s the total value of Toronto`s 573,948 single family homes, according to the property assessments, although in our current, overheated real estate market the actual sales figure could be 20 per cent more. That huge number is based on an exclusive Star analysis of the Municipal Property Assessment Corp`s (MPAC`s) property assessment data.
Our number-crunching provides a snapshot of Toronto real estate that`s never been taken before, and has unearthed some startling statistics:
Pssst . . . wanna buy Toronto? Got a cool $254 billion?
That`s the total value of Toronto`s 573,948 single family homes, according to the property assessments, although in our current, overheated real estate market the actual sales figure could be 20 per cent more. That huge number is based on an exclusive Star analysis of the Municipal Property Assessment Corp`s (MPAC`s) property assessment data.
Our number-crunching provides a snapshot of Toronto real estate that`s never been taken before, and has unearthed some startling statistics:
- The biggest house in the city, with more than 31,000 square feet of living space, is 100 times the size of the smallest, with a mere 294.Condos make up 75 per cent of homes built since 2000. In 2008, condos were 86 per cent of new homes.
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Compact living in Toronto`s tiny town
It is a storybook day on Craven Road, and Alison Smith is clambering over the gate-less white picket fence that contains her eight-by-nine-foot garden.
Smith has a watering can in her hand as she reaches toward the window box of purple and lavender and butter-yellow pansies. The sun is shining, and if the birds started singing in operatic chorus it would come as no surprise.
It is a tiny perfect moment on a tiny perfect street in Tiny Town.
Jack Ridout, real estate agent, calls out a "Hi, how are ya?" with a salesman`s ease, his smile wide, his bearing erect, his graceful mien akin to that of, say, a dance-partner-for-hire on a cruise ship. He has offered a tour of the `hood, where generations of Ridouts have built houses and sold houses, attended school, volunteered and you name it.
Read the full article here.
It is a storybook day on Craven Road, and Alison Smith is clambering over the gate-less white picket fence that contains her eight-by-nine-foot garden.
Smith has a watering can in her hand as she reaches toward the window box of purple and lavender and butter-yellow pansies. The sun is shining, and if the birds started singing in operatic chorus it would come as no surprise.
It is a tiny perfect moment on a tiny perfect street in Tiny Town.
Jack Ridout, real estate agent, calls out a "Hi, how are ya?" with a salesman`s ease, his smile wide, his bearing erect, his graceful mien akin to that of, say, a dance-partner-for-hire on a cruise ship. He has offered a tour of the `hood, where generations of Ridouts have built houses and sold houses, attended school, volunteered and you name it.
Read the full article here.
- Joined
- Mar 24, 2009
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Secondary homes will bear primary cost of HST
COLLINGWOOD—Unless you are planning to make it your permanent home, purchasing a new ski chalet, a new weekend condo, or a new cottage will get a lot more expensive when the harmonized sales tax comes into effect July 1. The tax will add tens of thousands of dollars to the cost of a new second home.
Last summer, after vigorous lobbying from developers, the Building Industry and Land Development Association (BILD), and the Ontario Home Builders` Association, the province backtracked on charging the HST on the full cost of a new home priced at more than $400,000 by introducing a housing rebate of up to $24,000. The catch is that to qualify for the rebate, the home has to be a primary residence.
"If it`s a new ski chalet, it will be subject to HST with no rebate," says Scott Blodgett of the Ministry of Finance.
The same goes for a new cottage on a Muskoka lake, a new condominium at developments such as the Village at Blue Mountain or Red Leaves in Muskoka, a new home in a golfing community or any new home in Ontario, if it`s not going to be a primary residence.
"There`s no doubt that it`s a blow for the industry," says Frank Giannone, president of FRAM, the company developing the Shipyards Harbour Residences in Collingwood. "It`s going to have a significant effect on the second-home market."
Read the full article here.
COLLINGWOOD—Unless you are planning to make it your permanent home, purchasing a new ski chalet, a new weekend condo, or a new cottage will get a lot more expensive when the harmonized sales tax comes into effect July 1. The tax will add tens of thousands of dollars to the cost of a new second home.
Last summer, after vigorous lobbying from developers, the Building Industry and Land Development Association (BILD), and the Ontario Home Builders` Association, the province backtracked on charging the HST on the full cost of a new home priced at more than $400,000 by introducing a housing rebate of up to $24,000. The catch is that to qualify for the rebate, the home has to be a primary residence.
"If it`s a new ski chalet, it will be subject to HST with no rebate," says Scott Blodgett of the Ministry of Finance.
The same goes for a new cottage on a Muskoka lake, a new condominium at developments such as the Village at Blue Mountain or Red Leaves in Muskoka, a new home in a golfing community or any new home in Ontario, if it`s not going to be a primary residence.
"There`s no doubt that it`s a blow for the industry," says Frank Giannone, president of FRAM, the company developing the Shipyards Harbour Residences in Collingwood. "It`s going to have a significant effect on the second-home market."
Read the full article here.
- Joined
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Dupuis: Housing the goose that laid the golden egg
Last week, I detailed the economic impact of the residential construction industry in the GTA and mentioned in passing a statement by Gluskin Sheff chief economist and strategist David Rosenberg to the effect that housing was behind Canada`s miraculous economic recovery.
This week, I re-read Rosenberg`s economic commentary called "Coffee with Dave: Market Musings and Data Deciphering," and took heart in his glowing comments about the contribution of housing to the economy, particularly of late.
"Looking back to last year, it would have been inconceivable to be talking about a Canadian economic miracle, but that is exactly what we have on our hands today; a classic V-shaped recovery. This begs the question as to what has been the principal factor underpinning this impressive Canadian economic revival, especially in relation to what is happening in the United States. We can answer the question in one word: housing," Rosenberg wrote.
"The housing sector is the quintessential leading indicator of the economy, and true to form, it caught fire before the overall economy did," Rosenberg added.
From there, Rosenberg looks at the direct and indirect impacts of the housing sector noting that every dollar increase in housing wealth translates into seven to nine cents of incremental spending in the GDP accounts. "Housing has tremendous spin-off effects outside the wealth effect – the impact on building materials, real estate income, legal services, architecture billing, classified ads, infrastructure, etc. – and it`s all locally driven," he notes.
Read the full article here.
Last week, I detailed the economic impact of the residential construction industry in the GTA and mentioned in passing a statement by Gluskin Sheff chief economist and strategist David Rosenberg to the effect that housing was behind Canada`s miraculous economic recovery.
This week, I re-read Rosenberg`s economic commentary called "Coffee with Dave: Market Musings and Data Deciphering," and took heart in his glowing comments about the contribution of housing to the economy, particularly of late.
"Looking back to last year, it would have been inconceivable to be talking about a Canadian economic miracle, but that is exactly what we have on our hands today; a classic V-shaped recovery. This begs the question as to what has been the principal factor underpinning this impressive Canadian economic revival, especially in relation to what is happening in the United States. We can answer the question in one word: housing," Rosenberg wrote.
"The housing sector is the quintessential leading indicator of the economy, and true to form, it caught fire before the overall economy did," Rosenberg added.
From there, Rosenberg looks at the direct and indirect impacts of the housing sector noting that every dollar increase in housing wealth translates into seven to nine cents of incremental spending in the GDP accounts. "Housing has tremendous spin-off effects outside the wealth effect – the impact on building materials, real estate income, legal services, architecture billing, classified ads, infrastructure, etc. – and it`s all locally driven," he notes.
Read the full article here.
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- Mar 24, 2009
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B.C., Ontario to lead in Canadian economic growth this year: Conference Board
OTTAWA — B.C. and Ontario will share top spot in Canadian economic growth this year, as labour markets continue their recovery, consumers begin spending on big-ticket items again and the auto sector rebounds, the Conference Board of Canada said Monday.
In its Canadian Provincial Outlook — Spring 2010, the board says the economy in B.C. and Ontario will expand at 3.8 per cent this year.
"There are clear signs of economic recovery from cost to coast," said Marie-Christine Bernard, associate director of provincial forecasting. "The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces.
"However the rebound will be gradual for most other provinces, spreading over the next two years," Bernard said.
B.C.`s economy will benefit from the one-time Olympics boost, as well as a recovery in forestry, manufacturing and construction sectors. But with the Olympics out of the way, and housing growth expected to ease, growth will slow to 2.8 per cent in 2011, the board adds.
Read the full article here.
OTTAWA — B.C. and Ontario will share top spot in Canadian economic growth this year, as labour markets continue their recovery, consumers begin spending on big-ticket items again and the auto sector rebounds, the Conference Board of Canada said Monday.
In its Canadian Provincial Outlook — Spring 2010, the board says the economy in B.C. and Ontario will expand at 3.8 per cent this year.
"There are clear signs of economic recovery from cost to coast," said Marie-Christine Bernard, associate director of provincial forecasting. "The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces.
"However the rebound will be gradual for most other provinces, spreading over the next two years," Bernard said.
B.C.`s economy will benefit from the one-time Olympics boost, as well as a recovery in forestry, manufacturing and construction sectors. But with the Olympics out of the way, and housing growth expected to ease, growth will slow to 2.8 per cent in 2011, the board adds.
Read the full article here.
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- Mar 24, 2009
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Ontario to share top spot in recovery
OTTAWA - Ontario`s battered economy will share top spot in Canadian economic growth this year, as labour markets continue their recovery, consumers begin spending on big-ticket items again and the auto sector rebounds, the Conference Board of Canada said yesterday.
In its Canadian Provincial Outlook -- Spring 2010, the board says Ontario`s economy will expand at 3.8% this year, a rate matched only by that forecast for British Columbia.
"There are clear signs of economic recovery from coast to coast," said Marie-Christine Bernard, associate director of provincial forecasting.
"The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces.
"However, the rebound will be gradual for most other provinces, spreading over the next two years," Ms. Bernard said.
Read the full article here.
OTTAWA - Ontario`s battered economy will share top spot in Canadian economic growth this year, as labour markets continue their recovery, consumers begin spending on big-ticket items again and the auto sector rebounds, the Conference Board of Canada said yesterday.
In its Canadian Provincial Outlook -- Spring 2010, the board says Ontario`s economy will expand at 3.8% this year, a rate matched only by that forecast for British Columbia.
"There are clear signs of economic recovery from coast to coast," said Marie-Christine Bernard, associate director of provincial forecasting.
"The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces.
"However, the rebound will be gradual for most other provinces, spreading over the next two years," Ms. Bernard said.
Read the full article here.
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- Mar 24, 2009
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We`re 59! Orillia makes list of Canada`s best places to live
Orillia is the 59th best place to live in Canada and the best in Simcoe County, according to rankings byMoneySensemagazine`s Best Places to Live 2010.
"We`re getting closer to No. 1," said Mayor Ron Stevens. "That`s great. That`s wonderful. I think it means a lot."
In 2009, Orillia ranked 42, but in 2008 was in the 95th spot.
MoneySense bases their rankings on statistical data including prosperity (such as household income and the unemployment rate), crime, health (like doctors per 1,000 people) and whether the city has a post-secondary institution.
At 8.76%, more Orillians walk/bike to work than those in Barrie, which had 4.49%.
"We`ve got the Millennium Trail, which is like nine kilometres of paved trail, plus the Lightfoot Trail," Stevens said. "And we are adding more trail system to that all the time. That has to have something to do with it."
MoneySense ranked Ottawa- Gatineau as the best place to live in Canada, followed by Kingston, Burlington and Fredericton.
Read the full article here.
Orillia is the 59th best place to live in Canada and the best in Simcoe County, according to rankings byMoneySensemagazine`s Best Places to Live 2010.
"We`re getting closer to No. 1," said Mayor Ron Stevens. "That`s great. That`s wonderful. I think it means a lot."
In 2009, Orillia ranked 42, but in 2008 was in the 95th spot.
MoneySense bases their rankings on statistical data including prosperity (such as household income and the unemployment rate), crime, health (like doctors per 1,000 people) and whether the city has a post-secondary institution.
At 8.76%, more Orillians walk/bike to work than those in Barrie, which had 4.49%.
"We`ve got the Millennium Trail, which is like nine kilometres of paved trail, plus the Lightfoot Trail," Stevens said. "And we are adding more trail system to that all the time. That has to have something to do with it."
MoneySense ranked Ottawa- Gatineau as the best place to live in Canada, followed by Kingston, Burlington and Fredericton.
Read the full article here.
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The 20% power grab
Since I began the Ontario Power Trip series, I`ve received many requests from people asking me to tell them how much their electricity bill would go up. My first stab at an answer was to tell people it looked like about 20%.
Last week, Toronto Hydro told the National Post`s editorial board that Toronto area electricity bills will be rising by about 20%. Toronto, of course, is not alone here. Similar increases will hit all Ontario electricity consumers -- and there are more to come.
Ontario electricity costs are made up of a long chain of fees, costs, debits, adjustments, charges, and other items too complicated to list and itemize. But let`s try. I decided to look at my Toronto Hydro bill and figure out how my power bill was likely to go up in the near future. The calculations get even more complicated because, in theory at least, beginning on May 1 Ontario consumers with Smart Meters will be under a new Time of Use (TOU) system.
My billing date was April 1, so I chose Aug. 1 for comparison purposes. That`s when Ontario`s new HST kicks in. Under the regulated price plan (RPP) my bill (assuming I use 2480 kwhs over two months) will increase by $61 (up 20.5%) for two months` worth of power. Under the TOU plan, it will increase by $53 (up 17.9%). That means my electricity bill will jump $366 on an annual basis under the RPP and $318 under TOU.
Read the full article here.
Since I began the Ontario Power Trip series, I`ve received many requests from people asking me to tell them how much their electricity bill would go up. My first stab at an answer was to tell people it looked like about 20%.
Last week, Toronto Hydro told the National Post`s editorial board that Toronto area electricity bills will be rising by about 20%. Toronto, of course, is not alone here. Similar increases will hit all Ontario electricity consumers -- and there are more to come.
Ontario electricity costs are made up of a long chain of fees, costs, debits, adjustments, charges, and other items too complicated to list and itemize. But let`s try. I decided to look at my Toronto Hydro bill and figure out how my power bill was likely to go up in the near future. The calculations get even more complicated because, in theory at least, beginning on May 1 Ontario consumers with Smart Meters will be under a new Time of Use (TOU) system.
My billing date was April 1, so I chose Aug. 1 for comparison purposes. That`s when Ontario`s new HST kicks in. Under the regulated price plan (RPP) my bill (assuming I use 2480 kwhs over two months) will increase by $61 (up 20.5%) for two months` worth of power. Under the TOU plan, it will increase by $53 (up 17.9%). That means my electricity bill will jump $366 on an annual basis under the RPP and $318 under TOU.
Read the full article here.