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  • Politics
    Yahoo Finance Canada Videos

    Why passport delays are ‘kryptonite’ for Ottawa

    Prime Minister Justin Trudeau announced last week that the government would create a task force aimed at reducing wait times for immigration and passport services. Passport offices across the country have been swamped in recent weeks amid a surge of people applying for new documents. “We know service delays, particularly in recent months, are unacceptable,” Trudeau said in a statement. “We will continue to do everything we can to improve the delivery of these services in an efficient and timely manner.” The Public Policy Forum’s Sean Speer says the passport issue should be the top priority for the government, and that a task force is not enough to deal with “such a fundamental problem.” “This is an issue that not only will resonate with a lot of people, it's an issue where the perceptions will harden and last for some time,” Speer said. “If I was working for the Prime Minister, this would be priority No. 1.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.

  • Business
    Yahoo Finance Canada Videos

    ‘Politicians have to be very careful’ with inflation response

    With inflation reaching highs not seen in nearly four decades, pressure is ramping up on governments to provide Canadians with some form of relief from high prices. But governments will have to be “very careful” when it comes to inflation relief, says the Public Policy Forum’s Sean Speer. He says that some policies, such as sales tax holidays, could result in higher interest rates if the Bank of Canada has to offset further boosts in demand. However, one area where Speer sees opportunity for the government to provide Canadians with financial relief is with the carbon tax. “There is a policy rationale that could be characterized as coherent and justified, to provide for at least in the short term, some temporary relief from the carbon tax,” Speer said. “That's one area where I think the government could take action without necessarily producing (a) challenge for the Bank of Canada.” If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.

  • Politics
    Yahoo Finance Canada Videos

    Editor’s Edition: How Ottawa should handle inflation

    Inflation continues to soar in Canada, with the Consumer Price Index (CPI) jumping 7.7 per cent in May, the biggest year-over increase since Jan. 1983. As many Canadians seek relief from high prices, a Yahoo/Maru Public Opinion poll has found that a majority of Canadians believe Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland have “no solid plan” to tackle inflation and rein prices in. The Public Policy Forum’s Sean Speer that while pressure grows on governments to respond to the inflation issue, politicians need to be careful in ensuring policies don’t exacerbate the current problem by boosting demand. “Any policy policies that have the effect of boosting aggregate demand are only going to make the challenge before the Bank of Canada even more difficult,” Speer said. “It’s going to test out politics, our society and our economy in quite profound ways.” On this episode of Editor’s Edition, Yahoo Finance Canada’s Alicja Siekierska and the Public Policy Forum’s Sean Speer discuss the political fallout related to inflation and how governments should respond to it. They also dig into recession concerns, Ottawa’s handling of the passport backlog and a new study analyzing Canada’s response to the COVID-19 pandemic. If you have any policy-related questions, or feedback about the show, please email alicja@yahoofinance.com.