The fall economic update from the federal government brings some optimism and concern for Regina’s business community.
Federal Finance Minister Bill Morneau’s 2018 fiscal update noted the projected deficit for the current fiscal year is expected to exceed $18 billion.
For Regina and District Chamber of Commerce CEO John Hopkins, that’s just one cause for concern.
“Most people, your run your own home, and if you continue to add debt and you continue to have to pay to service that debt, it gets to be more and more challenging as time goes by.”
Hopkins also expressed an issue with the energy sector, noting it’s vitality to Regina, with pipelines running through the area, the refinery and the Evraz steel plant all being affected by it.
One announcement that pleased Hopkins included a regulatory review.
“Successive governments will implement new regulations and they won’t take any away,” he said. “What’s happened over the years is we’ve accumulated all these regulations that businesses, and even homeowners to a certain degree, but businesses still have to adhere to.”
Hopkins calls Canada over-regulated and said they’re happy to see this step taken.