Yes they can. The liberals created the problem by juicing demand by doubling immigration and quintupling intl student visas. For decades Canada accepted new comers at a rate health care and housing growth could accommodate.
This crisis was created in the last 5 years, it can be undone just as fast with the right leadership.
Yes, high immigration has consequences. The Bank of Canada knows this (and this publication is very recent):
"The rise in immigration is nonetheless contributing to pressures in inflation components linked to house prices, given that it is adding more to housing demand than to housing supply in the context of structural imbalances in the Canadian housing market."
The consequences are not simple, and a knee-jerk reaction probably isn't a good idea. A knee-jerk reversion to pre-2020 numbers probably is, but I will defer to experts on this, which is not me (and probably not PP).
Interest rates are also a product of federal leadership. They dumped an enormous amount of money into the economy without a plan. That juice demand faster than supply can build. Too much money chasing goods makes inflation. Taming inflation is painful as the core perscription increases the cost servicing debt, which for many adds to the pain.
Worldwide issue arising from the pandemic. Our situation relative to the G7 is not bad (higher only than USA and only by a smidge):
Inflation, monetary policy, immigration. Which would be just about most of it.
True. But that too can be fixed. I’m not worried about extracting more tax from the 60 Canadian billionaires, if you were already paying 1000x the tax of an average Canadian, you might look at it differently. Do the billionaire math sometime… if all 60 contributed their entire wealth, you’d fund about a year of JTs deficit spending.
Drive those 60 billionaires out and every Canadian would have to pay about 50% more income tax to fund the government.
Hence my "good luck with that" comment. Something like this would require international co-operation.
Carbon tax isn’t a simple debit/credit tax. When a gallon of oil gets taxed, if gets added into the input cost for bushel of grain, the grain farmer raises his price. The feedmills increase their cost of chicken feed to cover the grain cost. Chicken farmer does same, chicken processor does same, retailer does the same. Same for all the other ancillary services (trucking, vet, heat) Oops, fuvk, inflation!
You may get the pennies back in tax paid at the pump, not you’re not getting back the pennies added to a loaf of bread.
Yes, you are. If the farmer paid $1 in carbon tax to feed the tractor and raised his price on an arbitrary product by that $1 then that $1 extra goes all the way down the line (through the feedmill, through the chicken farm, through the chicken processor, through the retailer) until that $1 ends up at the consumer and then it ends up in the pool of money that gets rebated to consumers.
Each step along the way has another energy contribution that they're paying carbon tax on, so hypothetically it's $1 via the farmer and $0.10 to the feedmill and $0.10 to the chicken farm and $0.10 to the chicken processor and $0.10 to the retailer = $1.40 extra at the consumer but all that energy cost spent along the way ends up in the pool of money that gets rebated to consumers.
Now if each of those steps is
marking up the extra upstream costs then that's something you'll have to chat about with people like Galon Weston. And companies like Suncor, for that matter.
If the costs incentivise an individual farmer to buy a more efficient tractor, or work in a more energy-efficient manner, so that he's paying less in carbon tax (and a far bigger amount less in fuel overall) then that farmer gets to stick those savings in his pocket, and that's the reason the carbon tax exists.