/Posthaste: Political parties come bearing gifts as battle to woo middle-class voters heats up

Posthaste: Political parties come bearing gifts as battle to woo middle-class voters heats up


Good morning!

Apparently, voters were largely unmoved by Justin Trudeau’s blackface scandal. So, what would move the needle? You guessed it: economic incentives, goodies and lower bills.

Canada’s politicians are pulling out all the stops to appeal to disengaged voters by promising all kinds of gifts: affordable housing, improved healthcare, tax cuts and lower cellphone bills, among others.

Conservative leader Andrew Scheer’s announcement Monday to fix the mortgage stress test and remove it for mortgage renewals was — not surprisingly — welcomed by realtors.

“We’re also pleased with the proposal to increase amortization periods, which ultimately provides greater flexibility for home buyers looking at financing to purchase a home of their own,” according to the The Canadian Real Estate Association.

However, others noted that it would encourage buyers to take on more debt and push home prices even higher — something the stress test has managed to rein in.

As National Post columnist John Ivison puts it: “Interest rates are still low by historic levels, so if buyers can’t afford to fulfill the conditions of the stress test, they shouldn’t be borrowing.”

Why did travel giant Thomas Cook die? You can blame the internet — once again. A Financial Post online poll shows more than 80 per cent of the 1,600 that took part in our survey said they went online to book their last vacation.

Here’s what’s you need to know this morning:

  • The Canadian Federation of Agriculture hosts an election debate about parties’ positions on agriculture policy in Ottawa
  • Conservative Leader Andrew Scheer and People’s Party Leader Maxime Bernier campaign in Ontario, Leader of the Liberal Party of Canada, Justin Trudeau is in B.C. and Green Leader Elizabeth May is New Brunswick
  • The Elevate tech conference hosts a variety of speakers including Michelle Obama, Chris Hadfield, and Martha Stewart in Toronto
  • In Edmonton, Telus is announcing a landmark investment in Alberta over the next five years
  • Michelle Obama speaks to the Winnipeg Chamber of Commerce
  • Disclosure application hearing for Huawei executive Meng Wanzhou’s case in Vancouver
  • As part of Climate Strike week, Climate Convergence Metro Vancouver, 350Vancouver, Sustainabiliteens Vancouver, Mountain Protectors stage an “intersection action” to protest the TMX expansion in Vancouver
  • Corporate Event: BlackBerry Q2 results

Who has the better tax plan — the Liberals or the Conservatives?

The two packages, announced within a week of one another, come as affordability — particularly in the housing market — emerges as a central electoral issue among Canadians, writes Naomi Powell.

— Please send your news, comments and stories to yhussain@postmedia.com. — Yadullah Hussain @pamheaven

With files from The Canadian Press, Thomson Reuters and Bloomberg

 

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