Posthaste: Why Canada shouldn’t take its status as top-rated sovereign for granted

today, and according to one economist, Canadians should pay attention because we all have a stake in Ottawa keeping a tight rein on its finances., with shortfalls around $40 billion for this fiscal year and the next two. The plan is to cap deficits near 1 per cent of nominal

“As a result, the Quebec government will, once again, pay more to service its debt relative to Ontario,” she said. Canada’s sovereign rating not only affects the borrowing rates of the federal government but also of provincial governments and the country’s big banks. “That’s going to be a VERY tall order,” said the economist, because almost 8 per cent of the country’s workforce is already employed in construction, the highest percentage since 1946.

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