{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/68f00b3ace402940bcbac06a/690d03d2a17ebcde883a5666?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"MBP Ep 6: MBP Intelligence Roundtable: The Budget and What It Actually Signals","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/68f00b3ace402940bcbac06a/1769727576810-b6b2b198-3717-4b34-908f-481ace9f6243.jpeg?height=200","description":"<p>In this episode Ben Woodfinden, Tyler Meredith, Ken Boessenkool, and Shannon Phillips unpack the new federal budget. They discuss</p><ul><li>The economic outlook and why Canada avoided recession even as growth falls</li><li>Why this is a capital assets budget and what it asks of private investment</li><li>The new fiscal anchors and how markets are reacting</li><li>The political risk of long runway payoffs and how to show near-term impact</li><li>Immigration levels cuts the hit to campuses and minimum wage pressure</li><li>Defence spending and whether dollars stay in the Canadian industrial base</li></ul><p>Key Takeaways</p><p><br></p><p>On the economic outlook</p><ul><li>WOODFINDEN: A budget that leans heavily on uncertainty and the upending of the global order&nbsp;</li><li>MEREDITH Canada dodged a recession and the economy shows resilience even with weaker growth</li><li>BOESSENKOOL Risks are still tilted to the downside and US trade turbulence could bite</li><li>PHILLIPS This is industrial and capital focused not people focused which leaves exposure if the economy worsens</li></ul><p>On what makes this budget different</p><ul><li>MEREDITH The document reads like a pension investor wrote it. Prioritizes asset class certainty and competitiveness over retail politics</li><li>WOODFINDEN The government owns the productivity slump that predated Trump and is finally acknowledging it at least&nbsp;&nbsp;</li><li>BOESSENKOOL A Bay Street style budget that pivots from program expansion to private investment</li><li><br></li></ul><p><br></p><p>On immigration and provincial fallout</p><ul><li>WOODFINDEN The cut to international student permits is dramatic and will hit university and college finances</li><li>MEREDITH Expect a tilt back to high skill intake while provinces scramble to fill revenue gaps</li><li>PHILLIPS Lower intake will tighten low wage labour markets and push pressure onto minimum wage policy</li></ul><p>On innovation and financial sector reform</p><ul><li>MEREDITH The budget packs major moves on competition banking and digital assets with more likely in the Bank Act review cycle</li></ul><p><br></p><p>On defence</p><ul><li>WOODFINDEN Defence is the signature spend at eighty four billion over five years</li><li>MEREDITH Procurement choices will decide how much of that spend stays in Canada</li><li>PHILLIPS Recruitment and culture must improve or the money will not translate into people</li></ul><p><br></p><p><br></p>","author_name":"MBP Intelligence "}