Small manufacturing businesses are contemplating leaving Canada
Was at the local Ag store. Always a delight to talk to the customers there.
The owner is one of us. She lets me know if the customers in the store are awake or not.
A retired couple who appeared to be from the Lower Mainland by the way they dressed and presented themselves.
Likely bought a hobby farm in The Interior.
The topic of having an Indian Summer came up. Hilarious when one joked that we will be forced to call in First Nations Summer.
You had to be there. We discussed the 3 Federal By-elections that the Liberals won yesterday. They mentioned that it is time to go as the average Canadian has bought into the Carney BS. Apparently, a few of his friends have small manufacturing operations in BC and may loose half or more of their mkt if the trade spat continues. They are exploring a move to the US. A Red state move.
There is a catch. Their RRSP’s are not recognized in the US as tax sheltered and without clever planning they will take a hit.
Also a bad time to sell a home but I mentioned that if the mkt is down all over it could be a wash if they buy a nicer place.
So, it is true that Canada is at risk of loosing small businesses that can not exist in Canada. They will only be able to take “key” people and lay off the rest. I can only imagine what will happen in the Heartland of Ontario.
What a shit show.
“What a shit show.” – the most appropriate summary possible!