/Posthaste: Majority of Canadians in every province (except Quebec) agree: Ottawa must do more to help Alberta’s oilpatch

Posthaste: Majority of Canadians in every province (except Quebec) agree: Ottawa must do more to help Alberta’s oilpatch

Good Morning!

As Justin Trudeau’s minority government announces a new Cabinet Wednesday, a new poll underscores the expectations of Canadians, especially on the all-important economic file.

A majority of residents in every region other than Quebec say that the federal government should do more to help Alberta’s natural resource industry, according to a new survey by the Angus Reid Institute.

“That said, few outside of CPC supporters consider the TransMountain pipeline expansion a top priority,” according to the survey published this morning.

Climate change, taxation and healthcare — issues that were often discussed during the federal election — remain top priorities for those surveyed.

Post-election, however, there are two other issues that have come to the fore: Western representation and the federal deficit.

Tax cuts for lower- and middle-income Canadians was seen as priority by 31 per cent of respondents, while 28 per cent felt ensuring Canada meets its 2030 emission reduction targets was a top priority.

While expanding the controversial Trans Mountain pipeline was seen as the most important priority by just under a quarter of those surveyed, Canadians are generally sympathetic towards Alberta’s economic plight.

“The sense that Alberta needs help is widespread. In fact, a majority everywhere in the country aside from Quebec would like the federal government to do more to help Alberta’s resource industry get back on track,” the survey noted.

As many as 57 per cent of Canadians said the government should do more to help Alberta, with majority of respondents in Saskatchewan (72 per cent), Ontario (63 per cent), Atlantic Canada (59 per cent) and British Columbia (54 per cent) of the view that the minority government should do more to Alberta’s natural resource industry. Only 33 per cent of those polled in Quebec agree with that assessment.

Here’s what you need to know this morning:



  • Bank of Canada senior deputy governor Carolyn Wilkins to give a speech to the International Finance Club of Montreal on safeguarding the financial system at 1 p.m. ET
  • Statistics Canada to release its monthly survey of manufacturing for September at 8:30 a.m. ET
  • Day 2 of the 27th Annual CCPPP Conference on Public-Private Partnerships in Toronto
  • CN Rail CEO JJ Ruest will address the Scotiabank Transportation & Industrials Conference at 8:00 a.m
  • Premier Doug Ford delivers remarks at the Canadian Council for Public-Private Partnerships Conference at 8:30 a.m. ET in Toronto
  • Manitoba speech from the throne in Winnipeg
  • Canada’s largest affordable housing conference will be held over three days in Vancouver
  • Notable Corporate Events: George Weston Ltd. earnings, TC Energy Corp. annual Investor Day

Global equities markets continue to deliver impressive returns this year, but investors remain wary, especially of U.S. equities.

Last week, U.S. equities saw a $0.4 billion outflow, but it was more than offset by strong inflows into emerging markets (+$3.2 billion), Europe ($1.5 billion) and funds with a global mandate (+$5.2 billion), according to Deutsche Bank.

“Within global funds, in particular those which invest only outside the U.S., saw very strong inflows ($3.1 billion), their strongest since March of last year,” the German bank said. “For European funds, inflows over the last four weeks have been the strongest since March of last year.”

Swiss bank UBS Investment Group also says it has closed its underweight to emerging market equities, bringing overall allocation to equities to neutral from underweight, amid positive signs on U.S.-China trade talks. “We nonetheless still prefer to take risk in carry rather than through an overweight to stocks.”


— Please send your news, comments and stories to [email protected]. — Yadullah Hussain @yad_Fpenergy

With files from The Canadian Press, Thomson Reuters and Bloomberg


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