The Loonie Hour Canada's $78B Fiscal Bazooka - w/ guest Sean Speer
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Nov 7, 2025 Sean Speer, a prominent Canadian public policy analyst and senior fellow at the University of Toronto, delves into Canada's recent federal budget. He critiques the $78B spending plan, questioning revenue assumptions amidst an unpredictable economy. Discussions include the impact of land claims on housing markets, rising employment insurance projections, and the delicate balance between defense spending and other priorities. Speer also addresses immigration's role in economic growth and potential pitfalls in investment strategies, providing a candid look at Canada's fiscal future.
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Land Acknowledgements Vanish Amid Land-Claim Tensions
- Steve noticed the Canucks stopped doing land acknowledgements before puck drop and links that to wider First Nations land-claim tensions.
- He explains court rulings and growing municipal pushback complicate land ownership and valuations in BC.
Banks' Silence Masks Real Lending Pullback
- Banks avoid public stances on lending in disputed lands to prevent reputational backlash.
- Private lenders already refrain from lending in contested BC areas, shrinking options for buyers there.
Land-Claim Litigation Will Chill Real Estate Activity
- First Nations land-claim litigation creates major uncertainty for property valuations and mortgages.
- Steve warns banks may lower LTVs and appraisals for disputed lands, reducing liquidity and offers.