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By Richard Rees
In 2011, BC experienced a second consecutive year of economic growth, and the province continues to hold its own in the wake of the recent recession.
A major factor driving economic growth is large-scale injections of capital investment. The province’s solid fiscal record and high credit rating make BC an attractive place to invest, and combined with abundant and in-demand natural resources, a wake of new investment is either planned or in progress. In the first quarter of 2012, the value of all projects under construction in BC totalled $78.9 billion—a 25 per cent increase over the first quarter of 2011.
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According to the BC Check-Up, a new report by the Chartered Accountants of BC, the value of major projects across the province has grown significantly since 2011. In the first quarter of 2012, the value of all projects under construction in BC totaled $78.9 billion - a 25 per cent increase over the first quarter of 2011.
“Looking forward, these large-scale investment projects have the capacity to help shape the province’s economic identity,” said Richard Rees FCA, CEO of the Chartered Accountants of BC. “Further, many of the resource-based projects will provide substantial economic benefits to a number of smaller communities throughout the province - many of which have suffered from stagnant or declining job markets. These benefits include job creation and higher incomes, as well as greater spending on local goods and services.”
Protecting and growing your retirement nest egg
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Submitted by Deena Williamson
Charles and Wendy are approaching their retirement. With the recent downturn in the markets, they are concerned about protecting and growing their retirement nest egg over the years leading up to their planned retirement date. They also think that GIC investments would not protect their retirement income very well from inflation.
Like more and more Canadians today, neither Charles nor Wendy is part of a pension plan. Because they will be fully responsible for their retirement income stream, it's very important to them to have a plan that can potentially replicate a pension.
Six steps to retirement success
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By Deena Williamson
The key to a rewarding and fulfilling retirement is making the best use of your time, your health and the financial assets you have taken a lifetime to accumulate. This six-step process can help to ensure that the possibilities in your own retirement are maximized. By following these steps, we know you will improve your situation and enjoy your retirement years.
Increasing household debt: a problem Canadians can no longer ignore
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By Rob Radloff
Since the 1980's, household debt as a share of personal disposable income has almost tripled in Canada, rising from 50 per cent to 146 per cent in 2010. Many organizations, including the Bank of Canada, have expressed concern about the potential consequences of Canadians’ rising debt.
There are several circumstances that have contributed to this increased debt level. First, the increased participation of woman in the labour market created a greater number of double-income households, which contributed to a greater sense of income security and a willingness to carry more debt than single-income households.
