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www.insideHALTON.com |OAKVILLE BEAVER |Thursday, January 26, 2017 | 2 0 Canadians concerned about taxes, jobs and healthcare continued from p.18 would be a Canadian bump, but it could be a slump, given what w e're seeing with some of the border issues. We haven' t really put anything in for Canada, yet," said Wright. While energy continues to dominate growth performance in Western Canada, Ontario remains at the "top of the growth pack," the chief economist said, which will continue going forward, in a low interest rate environment. Ontario' s growth is projected to hit 2.3 per cent in 2017, the highest among the provinces, a number relative to other regions country wide. Globally, the International Monetary Fund (IMF) is predicting a growth increase of about 3.5 per cent, slower than during the pre financial recession years, when the rate was near five per cent, Wright explained. "Traditionally, the historical average is just about four per cent. So, again, w e're seeing that more slower, more normal growth outlook around the globe," said Wright, noting China will likely see growth at around 6.5 per cent. As the year progresses, international growth is projected to improve, as a result of low interest rates, he noted, since fiscal policy is actually supporting it, in some cases. "A better growth story as w e move forward," stated Wright. Oil and commodity prices have generally been increasing recently, which is a "goodnews story for Canada," he said. Oil prices this year have been averaging $56 a barrel, which isn' t a "dramatic" rise, but it' s not a bad improvement, either, Wright said. "Oil prices are picking up. We've seen the re-establishment of that supply and demand. Currently, it' s around $50 CDN. In February 2016, it hit its record low of $19," said Wright. "We' ve seen a big move up in Canadian dollars, in terms of oil prices. That' s encouraged a little more optimism in Canada, in Alberta, in particular." Regarding employment, Ontario is among the top provinces for growth year-after-year -- ranking alongside British Columbia and Quebec, the RBC senior vice-president said. Although more than 80,000 jobs were created in Ontario in 2016, predominantly private and service sector, there was a "tilt" towards part-time work as part of the tally. "The last five years in Ontario.. .more than 100 per cent of the job gains in Ontario were full-time, rather than part-time. Again, a bit of a pullback, but w e are seeing the job numbers fairly strong," said Wright, adding the unemployment rate continues to decrease, sitting at 6.4 per cent currently. The Province has a plan to return to a fiscal balance, which took nine years -- "a bit long" -- stated Wright, also a good-news story. "As you go forward, that gives a little more flexibility for fiscal authorities near term. As the balance holds, w e should see that debt-toincome ratio in Ontario peak. We should see it moving over," said Wright. In his presentation, Simpson discussed areas related to "Canada in a global context," to show the underlying feelings, attitudes and beliefs of the economy, politically, which leads people to voting for unorthodox candidates in elections. He said 54 per cent of Canadians believe the country is headed in the right direction, which doesn' t sound "great." The top three concerns for Canadians are unemployment, health care and taxes. CO RRECTIO N NO TICE The Lexus of Oakville ad that appeared in the January 19th, 2017 Oakville Beaver was incorrect. The correct information is as follows: LEA SE A 2017 R X 3 5 0 A W D F O R $ 2 7 9 B I-W E E K L Y IN C L U D IN G A W D C R E D IT S O F U P TO $ 2 0 0 0 . See our correct ad in this weeks January 26, 2017 Oakville Beaver for the correction information and details. We apologize for any inconvenience this may have caused. i M a x im e K itc h e n s & B a th s In c. Now Open! 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