CONSTRUCTION SECTOR – CANADA – MARCH 2017By: Paul Young CPA, CGADate: March 19, 2017

AGENDA▪ Business Investment / Durable Goods

▪ Housing Starts

▪ Construction by building type (% change by year)

▪ Canada building permits – January 2017

▪ Canada government/Capital Spending

▪ Canada Infrastructure spending

CANADA MANUFACTURING SALES / % CHANGE MONTH OVER MONTH

▪ Stats Canada – March 2017

HOUSING STARTS

▪ Scotiabank, BMO, Stats Canada

CHANGE % BUILDING CONSTRUCTION FOR CANADA BY BUILDING TYPE

▪ Stats Canada

BUILDING PERMITS / CANADA – JANUARY 2017

▪ Stats Canada

BUILDING PERMITS / CANADA – JANUARY 2017

▪ Stats Canada

FISCAL MONITOR / DECEMBER 2016

▪ Government of Canada

Two funds:• Gas Tax• Build Canada

• *** under Canada’s cities and communities

CANADA INFRASTRUCTURE SPENDINGInfrastructure spending not growing Canada's economy?

• The study finds that of the nearly $100 billion in new infrastructure spending announced within the last year by the federal government, only 10.6 per cent will be spent on projects relating to transportation and trade, which have the potential to strengthen the economy by more efficiently moving people and goods across the country and to international markets.

• Most of the new spending is instead going to so-called “green” and “social” infrastructure including pet projects such as new parks, community centres and hockey arenas. Although communities may value and appreciate these initiatives, there is no evidence such spending will improve economic growth.

ReNew Canada – March 6, 2017

CANADA INFRASTRUCTURE SPENDING

Fraser Institute – March 6, 2017

Only 11 cents of every dollar in new federal government infrastructure spending will be spent on highways, bridges, railways and ports projects that can actually help improve Canada's economy, finds Myths of Infrastructure Spending in Canada.

CANADA INFRASTRUCTURE SPENDING

▪ http://www.huffingtonpost.ca/2017/02/28/senate-committee-slams-liberals-for-spending-186-billion-without-a-solid-plan_n_15060366.html

The committee's report released Tuesday morning warned the Liberals to invest the right amount in infrastructure and invest in the right places — particularly in trade infrastructure.The report recommended the government create a single window for funding, instead of spreading it across multiple departments and agencies, and take into account the needs of municipalities when deciding how money will be spent."We have to become more focused and get back on track, but it has to be something that people can understand and execute," said committee chairman Larry Smith. "It's very tough when you have this number of programs.Huffington Post – February 28, 2017

HARPER VS TRUDEAU

OTHER SOURCES▪ Fraser Institute -

https://www.fraserinstitute.org/studies/myths-of-infrastructure-spending-in-canada