Business
Big residential increase and renovation of the Dream Centre featured in April’s building permit stats
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Building permit values up in April
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Building permit values continued to rise in April, with 123 approved permits valued at $10.3 million, compared with 53 permits issued in April 2020 worth just over $16 million.
Year-to-date building permits have dropped in value from the first four months of 2020, with current values at $29.9 million compared with $86.9 million last year.
Notable permits include:
- Building permit for roof renovation at 100 College Boulevard, valued at $1.5 million
- Building permit to renovate existing building to 40 bed drug and alcohol treatment facility with supporting offices at 4614 50 Avenue, valued at $1.4 million
- Building permit for tenant improvements to restaurant at 110-6852 66 Street, valued at $600,000
- Building permit for renovation to existing pharmacy technician classroom 1323 and 1323A, valued at $375,000
- Building permit for removal of demising wall between unit 176 and 177 to allow expansion of Bower Dental at 176-4900 Molly Banister Drive, valued at $350,000
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110-6852 66 Street – Formerly “Bourbon Grill”
Business
Worst kept secretāred tape strangling Canadaās economy
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From the Fraser Institute
By Matthew Lau
In the past nine years, business investment in Canada has fallenĀ while increasing more than 30 per cent in the U.S. on a real per-person basis. Workers in Canada now receiveĀ barely halfĀ as much new capital per worker than in the U.S.
According to a new Statistics CanadaĀ report, government regulation has grown over the years and itās hurting Canadaās economy. The report, which uses a regulatory burden measure devised by KPMG and Transport Canada, shows government regulatory requirements increased 2.1 per cent annually from 2006 to 2021, with the effect of reducing the business sectorās GDP, employment, labour productivity and investment.
Specifically, the growth in regulation over these years cut business-sector investment by an estimated nine per cent and āreduced business start-ups and business dynamism,ā cut GDP in the business sector by 1.7 percentage points, cut employment growth by 1.3 percentage points, and labour productivity by 0.4 percentage points.
While the report only covered regulatory growth through 2021, in the past four years an avalanche of new regulations has made the already existing problem of overregulation worse.
The Trudeau government in particular hasĀ intensified its regulatory assaultĀ on the extraction sector with a greenhouse gas emissions cap, new fuel regulations and new methane emissions regulations. In the last few years, federal diktats and expansions of bureaucratic control have swept theĀ auto industry,Ā child care,Ā supermarketsĀ and manyĀ other sectors.
Again, the negative results are evident. Over the pastĀ nine years, Canadaās cumulative real growth in per-person GDP (an indicator of incomes and living standards) has been a paltry 1.7 per cent and trending downward, compared to 18.6 per cent and trending upward in the United States. Put differently, if the Canadian economy had tracked with the U.S. economy over the past nine years, average incomes in Canada would be much higher today.
Also in the past nine years, business investment in Canada hasĀ fallenĀ while increasing more than 30 per cent in the U.S. on a real per-person basis. Workers in Canada now receiveĀ barely halfĀ as much new capital per worker than in the U.S., and only about two-thirds as much new capital (on average) as workers in other developed countries.
Consequently, Canada is mired in anĀ economic growth crisisāa fact that even the Trudeau government does not deny. āWe have more work to do,āĀ saidĀ Anita Anand, then-president of the Treasury Board, last August, āto examine the causes of low productivity levels.ā The Statistics Canada report, if nothing else, confirms what economists and the business community alreadyĀ knewāthe regulatory burden is much of the problem.
Of course, regulation is not the only factor hurting Canadaās economy. Higher federalĀ carbon taxes, higherĀ payroll taxesĀ and higherĀ top marginal income tax ratesĀ are also weakening Canadaās productivity, GDP, business investment and entrepreneurship.
Finally, while the Statistics Canada report shows significant economic costs of regulation, the authors note that their estimate of the effect of regulatory accumulation on GDP is āmuch smallerā than the effect estimated in an AmericanĀ studyĀ published several years ago in theĀ Review of Economic Dynamics. In other words, the negative effects of regulation in Canada may be even higher than StatsCan suggests.
Whether Statistics Canada has underestimated the economic costs of regulation or not, one thing is clear: reducing regulation and reversing the policy course of recent years would help get Canada out of its current economic rut. The country isĀ effectively in a recessionĀ even if, as a result of rapid population growth fuelled by record levels of immigration, the GDP statistics do not meet the technical definition of a recession.
With dismal GDP and business investment numbers, a turnaroundāboth in policy and outcomesācanāt come quickly enough for Canadians.
Business
āOut and out fraudā: DOGE questions $2 billion Biden grant to left-wing āgreen energyā nonprofit`
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From LifeSiteNews
The EPA under the Biden administration awarded $2 billion to a āgreen energyā group that appears to have been little more than a means to enrich left-wing activists.
The U.S. Environmental Protection Agency (EPA) under the Biden administration awarded $2 billion to a āgreen energyā nonprofit that appears to have been little more than a means to enrich left-wing activists such as former Democratic candidate Stacey Abrams.
Founded in 2023 as a coalition of nonprofits, corporations, unions, municipalities, and other groups,Ā Power Forward Communities (PFC) bills itself as āthe first national program to finance home energy efficiency upgrades at scale, saving Americans thousands of dollars on their utility bills every year.ā It says it āwill help homeowners, developers, and renters swap outdated, inefficient appliances with more efficient and modernized options, saving money for years ahead and ensuring our kids can grow up with cleaner, pollutant-free air.ā
The organizationāsĀ websiteĀ boasts more than 300 member organizations across 46 states but does not detail actual activities. It does have job postings for three open positions and a form for people to sign up for more information.
The Washington Free BeaconĀ reportedĀ that the Trump administrationās Department of Government Efficiency (DOGE) project, along with new EPA administrator Lee Zeldin, are raising questions about the $2 billion grant PFCĀ receivedĀ from the Biden EPAās National Clean Investment Fund (NCIF), ostensibly for the āaffordable decarbonization of homes and apartments throughout the country, with a particular focus on low-income and disadvantaged communities.ā
PFCās announcement of the grant is the organizationās only press release to date and is alarming given that the organization had somehow reported only $100 in revenue at the end of 2023.
āI made a commitment to members of Congress and to the American people to be a good steward of tax dollars and Iāve wasted no time in keeping my word,ā Zeldin said. āWhen we learned about the Biden administrationās scheme to quickly park $20 billion outside the agency, we suspected that some organizations were created out of thin air just to take advantage of this.ā Zeldin previously announced the Biden EPA had deposited the $20 billion in a Citibank account, apparently to make it harder for the next administration to retrieve and review it.
āAs we continue to learn more about where some of this money went, it is even more apparent how far-reaching and widely accepted this waste and abuse has been,ā he added. āItās extremely concerning that an organization that reported just $100 in revenue in 2023 was chosen to receive $2 billion. Thatās 20 million times the organizationās reported revenue.ā
Daniel Turner, executive director of energy advocacy group Power the Future, told the Beacon that in his opinion āfor an organization that has no experience in this, that was literally just established, and had $100 in the bank to receive a $2 billion grant ā it doesnāt just fly in the face of common sense, itās out and out fraud.ā
Prominent among PFCās insiders is Abrams, the former Georgia House minority leader best known forĀ persistent false claims about having the stateās gubernatorial election stolen from her in 2018. Abrams founded two of PFCās partner organizations (Southern Economic Advancement Project and Fair Count) and serves as lead counsel for a third group (Rewiring America) in the coalition. A longtime advocate of left-wing environmental policies, Abrams is also a member of the national advisory board for advocacy group Climate Power.
DOGE is currently conducting a thorough review of federal executive-branch spending for the Trump administration, efforts that left-wing activists are challenging in court. The official DOGE website currentlyĀ claims creditĀ for a total estimated savings of $55 billion.
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