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Money Personal finance poll finds one-third of Canadians can't cover their bills

20:31  20 january  2020
20:31  20 january  2020 Source:   huffingtonpost.ca

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a person sitting at a table using a laptop: Stressful asian businesswoman with huge amount of credit card debt © Provided by HuffPost Canada Stressful asian businesswoman with huge amount of credit card debt

MONTREAL ― Three in 10 Canadian households say they can’t cover all their monthly expenses, and fully half are on the verge of insolvency, a new survey has found.

The report from accounting firm MNP Ltd. comes amid warnings from bankruptcy professionals that Canada will see a continued increase in personal bankruptcies and consumer proposals, thanks to rising interest rates over the past several years that are now hitting consumers.

While 29 per cent of survey respondents said they currently can’t cover all their monthly expenses, the number rises to 50 per cent when including everyone who is $200 away at the end of the month from insolvency, up from 46 per cent a year earlier.

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 “Our findings may point to a shift among some Canadians from debt apathy to debt hopelessness,” MNP president Grant Bazian said in a statement. 

“Feelings of hopelessness can make people feel like giving up on ever paying down their debt or, worse, ignoring the debt as it piles up higher.”

The survey asked respondents about their financial expectations one year in the future and five years in the future, and found optimism was at or near record lows for the survey that has been running 11 years.

New poll suggests Tories know what they want in a new leader but not whom to pick

  New poll suggests Tories know what they want in a new leader but not whom to pick OTTAWA — A new poll finds Conservative voters are far more sure about what they want in a new leader for their party than they are about who should fill that job. A Leger Marketing survey suggests 29 per cent of decided Conservative voters either don't have an answer or don't want to give one when asked who they'd like to see at the top of the party. Leading their wish lists with 18 per cent support each were former leaders Stephen Harper and Rona Ambrose. Harper isn't running and Ambrose remains undecided.Those two also led the pack among all the Canadians Leger surveyed, of all partisan loyalties, and in third was former cabinet minister Peter MacKay.

According to the federal Office of the Superintendent of Bankruptcy, the number of Canadians who filed for bankruptcy or a consumer proposal jumped by 8.9 per cent in the year to November, compared with the same period 12 months earlier.

Saskatchewan (up 19 per cent) and Ontario (up 12.2 per cent) led the increase in insolvencies.

The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) says this is “just the tip of the iceberg” ― it expects more households to run into financial problems as higher interest rates in 2017 and 2018 translate into higher costs for borrowers today.

There likely won’t be much help from the Bank of Canada for borrowers this year. The bank announces its latest interest rate decision Wednesday, and analysts expect it to stand pat. 

New poll suggests Tories know what they want in a new leader but not whom to pick

  New poll suggests Tories know what they want in a new leader but not whom to pick OTTAWA — A new poll finds Conservative voters are far more sure about what they want in a new leader for their party than they are about who should fill that job. A Leger Marketing survey suggests 29 per cent of decided Conservative voters either don't have an answer or don't want to give one when asked who they'd like to see at the top of the party. Leading their wish lists with 18 per cent support each were former leaders Stephen Harper and Rona Ambrose. Harper isn't running and Ambrose remains undecided.Those two also led the pack among all the Canadians Leger surveyed, of all partisan loyalties, and in third was former cabinet minister Peter MacKay.

With recent data showing Canada’s economy strengthening going into 2020, fewer investors are betting the Bank of Canada will cut interest rates this year.

The country’s strong economy and relatively strong inflation mean that ― despite rates being low by historical standards ― Canadians are facing some of the highest borrowing costs in the developed world today.

This article originally appeared on HuffPost Canada

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Poll suggests some don't think Canada should send troops to stop genocide .
OTTAWA — A new poll suggests there are some in this country who believe Canada shouldn't intervene militarily if there was a genocide taking place somewhere in the world. The poll commissioned by the Association for Canadian Studies found that 29 per cent disagreed with the idea that Canada should send troops to a place where a genocide was occurring. A further 11 per cent preferred not to answer the question. The online survey of 2,295 Canadians by Leger Marketing was conducted the week of Nov. 11, 2019 and cannot be assigned a margin of error because internet-based polls are not considered random samples.

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