ABOVE THE FOLD
UPSHOT FROM THE MINI-BUDGET — Finance Minister PETER BETHLENFALVY’s Fall Economic Statement was light on new initiatives, heavy on the red ink. Here’s what you need to know — and how political circles are reacting.
Much of the goodies had already leaked, including an extension on the gas-tax cut, the scrapping of the provincial portion of the HST on purpose-built rental housing, lowering the age for breast cancer screening, and — the crown jewel of the mini-budget — the creation of a new infrastructure bank.
But the new “arms-length and board-governed” agency is raising more questions than answers at this point.
I checked in with ex-chief economist BRIAN LEWIS, who wants to know: “Who asked for this is an interesting one…How is this going to work? And specifically, if the idea is to attract private-sector money into public-sector driven investments — let’s say that’s what it is — then, who’s paying for it? Who’s paying the rate of return on it?…Where’s that money coming…