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GenX
10-17-2007, 04:19 PM
"The International Monetary Fund cut its growth forecast for the Canadian economy, as turmoil in markets and weaker U.S. growth curb demand for the country's goods, the Washington-based lender said today.

The world's eighth-biggest economy will grow 2.5 percent this year and 2.3 percent in 2008, down from last year's 2.8 percent, the IMF said in its semi-annual World Economic Outlook. The organization had said in July that Canada -- the only Group of Seven country that's a major energy exporter -- would fare better, with growth of 2.8 percent in 2008.

Canada's ``short-term outlook is clouded by weaker prospects in the United States and the recent global financial market turmoil, which has affected parts of the Canadian markets,'' the IMF said in today's report."

LINK (http://www.bloomberg.com/apps/news?pid=20601082&sid=atNNJPlMD320&refer=canada)
GenX
10-17-2007, 04:19 PM
"Falling sales of motor vehicles and machinery and electronic equipment knocked down Canadian wholesale trade in August by a sharper-than-expected 2 percent, Statistics Canada said on Wednesday."

LINK (http://ca.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2007-10-17T124014Z_01_N17221717_RTRIDST_0_BUSINESS-ECONOMY-TRADE-COL.XML)
Hans
10-17-2007, 04:21 PM
"The International Monetary Fund cut its growth forecast for the Canadian economy, as turmoil in markets and weaker U.S. growth curb demand for the country's goods, the Washington-based lender said today.
GenX
10-17-2007, 04:21 PM
"Ireland got it. Australia has. Even Sweden. All three have chopped business taxes in the past few years for reasons that are obvious: High taxes kill jobs. Low taxes do not.

Despite such moves, Canada is in tax trouble, according to figures published last year by independent think-tank the Organization for Economic Co-Operation and Development, which make the case for major tax cuts."

LINK (http://www.canada.com/nationalpost/financialpost/printedition/story.html?id=938be8b0-4442-40b1-a9e9-226a2642472e)
Hans
10-17-2007, 04:26 PM
This is just looking at taxes, without looking where the collected taxes go to.
The report also fails to mention anything about tax refund programs for businesses and grants for new business starters and already established businesses. This is where some of that tax money is going to, which I see nowhere mentioned in that "report".