On this episode of The Construction Record Podcast, digital media editor Warren Frey engages in our monthly economic discussion with ConstructConnect chief economist Alex Carrick and senior economist Michael Guckes to discuss interest rates and their effect on the construction economy along with the conditions we’ll need to meet to move towards an economy based on renewable energy.
As interest rates continue to climb both economists warn increased capital costs will keep construction projects from going forward, and Michael pointed out the U.S. government has taken on so much debt since the Great Recession and the pandemic that there’s very little wiggle room for the government to correct course.
We also have the latest headlines from the Daily Commercial News and the Journal of Commerce, including the RCMP looking into a potential investigation related to the Progressive Conservative government to Ontario’s removal of some areas of protected Greenbelt lands for housing development.
Doug Ford’s government also ran into controversy recently with the overhaul of Ontario Place and Therme Canada has released an updated design for the West Island of Ontario Place which includes four more acres of public parkland and natural spaces alongside the waterpark and other attractions that are planned.
From the west, The Kelowna Chamber of Commerce is urging B.C. Transportation and Infrastructure Minister Rob Fleming to consider building a second bridge over Okanagan Lake because of anticipated population growth in the region and we have ongoing news coverage from the B.C. Interior as wildfires continue to batter the region.
You can listen to The Construction Record on the Daily Commercial News and Journal of Commerce websites as well as on Apple Podcasts, Spotify and Amazon Music’s podcast section. Our previous episode’s interview with Canada’s Building Trades Unions executive director Sean Strickland about Canadian immigration policy is here. Thanks for listening.