In The News This Week – July 31, 2016

Its been a quiet week in Canadian politics, but there’s lots going on across the border. Check out our weekly roundup:

1. Democratic National Convention, #DNC , summarized:

  • The Nominee – The Democratic Party of the United States of America made history this week by officially declaring Hillary Clinton their Presidential nominee, the first women ever to receive the nomination of one of the main 2 parties.
  • The Attendees – The Convention hosted speeches by President Barack Obama, First Lady Michelle Obama,  businessman and former New York Mayor Michael Bloomberg, Actress Meryl Streep, Muslim-American parents who lost their son while he was fighting for the US Army, and hosts of other celebrities, politicians, and average Americans. If you haven’t heard some of the speeches – I highly recommend giving them a listen. A summary of the speeches and links where they can be found are here.
  • The Policies – From a policy perspective, the Democratic Party touted many left-leaning policies not seen in the Party since the 1970s. There was talk of higher minimum wage, equal pay for women, affordable child care, gun control, supporting LGBTQ rights, and more.
  • The Opposition – The Convention was sharply contrasted to the Republican National Convention last week, where politics of fear and themes of ‘law and order’ and ‘Make America Safe Again’ rang out.
  • Sources: WHIOGlobe and Mail

2. BC Foreign Home Buyers Tax – The BC government is moving to add a 15% tax to the property transfer tax for buyers who are not Canadian citizens or permanent residents. The move aims to tame the hot housing market in Vancouver where foreign buyers make up about 10% of new home purchases, arguably pushing up prices to unattainable levels for average British Columbians. Critics of the tax argue the policy is anti-immigration and anti-free market. – Globe and Mail

3. Canada’s GDP numbers for the month of May were released this week, showing that GDP decreased by 0.6% – the worst monthly decrease since March 2009 (the Great Recession). However, this was driven mainly by decreases in the natural resources sector, whose production was badly hit by the Alberta forest fires. Stripping out the effect of the wildfires, the GDP is expected to have decreased by 0.1% – Globe and Mail



President Barack Obama and Democratic Presidential Nominee Hillary Clinton embrace onstage at the Democratic National Convention after the President’s speech endorsing Hilary

Source: Carolyn Kaster, Associated Press

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