A strong foundation provided by the federal government contributes to the financial success of Canadians.
Prime Minister Mark Carney’s leadership? Time will tell how he is judged. I liked the elbow up posture at the start of the US trade war but when the US population outweighs you by a factor of eight you quickly realize that a fight is a losing proposition.
Now is a time for intelligence and strategy.
A significant financial test as to Carney’s leadership is the fall federal budget. Spending on new initiatives as he is proposing can be positive. Will he have enough political courage to attack Canada’s history of overspending?
Two obvious problems are the ballooning size of the federal government and the money losing, functional obsolete Canadian Post.
Serious cost cutting is needed.
Pierre Poilievre is the leader of the opposition and has an important role to play in our democratic process. In my opinion, since his recent bi-election victory he is off to a poor start.
Immediately after Carney returned from his European trip, Poilievre stated that the Prime Minister achieved nothing. The only way to evaluate his achievements was to be in every meeting he had with leaders of European counties or wait until signs of success or failure become evident.
In my opinion, Poilievre’s viewpoint is disappointing. That type of political tactical error may not hold him in good regard in January when he needs to get a renewed mandate from the Conservative Party to remain leader.
Canadians’ financial success is tied to the leadership of our politicians. We need them to make correct and often difficult decisions.
Peter Watson, of Watson Investments MBA, CFP®, R.F.P., CIM®, FCSI offers a weekly financial planning column, Dollars & Sense. He can be contacted through www.watsoninvestments.com
