The State of The Canadian Econ essays

The State of The Canadian Econ essays The Canadian Economy has been shaken, stirred and chilled. Stocks have crashed, jaws have fallen, and it has taken years off the lives of some buisnessmen. Even though there are many fears that of a recession is due, because of the state of the United States economy, it is safe to say at this time we are secure but we have a rocky road ahead. I feel that there will be a growth at about 3%. Jean Chretien states that he is not worried at all about a recession, with consumer confidence running high, our economy is running smooth. Chretien says that we are in a surplus position, we are paying down the debt, taxes will be reduced, and the country is being prepared for the year 2001. We are standing in a good position, as long as we can keep consumer spending up, taxes down and a comfortable surplus, we will continue to be safe from recession. Canadas economy shows the best results in five months in October, Economic growth has soared since 1998, and has continued to rise. Though analysts caution a slowdown is ahead, because of the United States consumer sales drop, because of our high consumer spending and positive economic growth, we will continue to sit secure through the recession scare. Ontarios Finance Minister Ernie Eves has found $1.4 billion, using one billion towards Ontarios debt, taking it down to $112 billion. With Ontarios flourishing economy, which has grown 5.5%. The Finance Minister received an extra $2 billion in revenue, and this is expected to grow 3.7% in 2001. The jobless rate dropped 6.8% in December, meaning that consumer spending will rise, and government spending will drop (welfare numbers will fall), which means for now we are secure, the only worry is the fall of the United States economy. As the economy drops, growth slows down thus ensuring a drop in jobless rate and consumer spending. The clouds towards a recession ...