Our Jordan Bateman gives you the heads-up on how government spending is costing you thousands on your mortgage, the demise of single-family homes, and if we can have our plastic straws back.
💸 In a very critical look at the Trudeau government’s fiscal policy, a Scotiabank report highlighted how the government’s spending approach has contributed to the rise in inflation and consequently, the increase in interest rates. Excessive government spending contributed to about 200 of the 475 basis points increase that the Bank of Canada has added to interest rates in recent months. In short, government’s lack of fiscal responsibility has cost homeowners tens or hundreds of thousands of dollars in increased mortgage costs. The solution: rein in the spending!
🏠 Is the single-family home now an endangered species in B.C.? The Eby NDP government just made a huge move by essentially ending single-family zoning. Now, in cities with more than 5,000 people, you can build up to six homes on lots that used to be just for single-family houses. This is a big shake-up because zoning is usually a local thing, but now the province is stepping in big time. But this change is stirring up some worries. People are concerned about how this will reshape neighborhoods, adding more people and cars, and draining services.
♻️ In a big loss to the Trudeau Government, the Federal Court of Canada has struck down their 2022 plastics ban – which outlawed things like plastic straws and single-use plastic bags. It lost on all three challenges it faced: The court decision cited as unreasonable the inclusion of plastic material as toxic under the Environmental Protection Act; it said the Environment Minister’s refusal to have a Board of Review assess the risks of plastic materials was unreasonable; and it found the federal government was overstepping its jurisdiction and the law was effectively unconstitutional.