Reporting by David Ljunggren; Editing by David Gregorio
Finance
Canada’s housing crisis will take years to solve, finance minister says
Sept 16 (Reuters) – An affordable housing crisis that is hurting the Canadian government’s popularity will take years to resolve, even if construction hits an 80-year high, Finance Minister Chrystia Freeland said on Saturday.
Her comments were among the first by a senior member of Prime Minister Justin Trudeau’s Liberal administration to acknowledge the scale of the challenge. Polls show the Liberals trailing their Conservative rivals, who blame Ottawa for high inflation and soaring home prices.
Housing is mainly the responsibility of the 10 provinces as well as major municipalities, with Ottawa’s role limited to policy advice and financial incentives.
“It will take all of us — the federal government and the provinces, cities and towns, the private sector and non-profits … working together in common cause, not for weeks or months, but for years,” Freeland said.
“Building the homes a growing Canada needs will require another great national effort,” she told a Montreal conference, saying the country would have to build homes at a speed and scale not seen since the 1940s and 1950s.
In a bid to boost supply, the government has said it will remove the federal 5% consumption tax on the construction of new rental apartment buildings and is telling cities to do more to address the issue.
Our Standards: The Thomson Reuters Trust Principles.
Finance
Indian shares likely to open higher; Bajaj Finance in focus
Finance
Wisconsin groups support next generation of STEM workers | Finance & Commerce
MILWAUKEE — Contractors, utilities and public officials this week had something to offer to local students interested in construction and science, technology, engineering and mathematics (STEM).
The construction labor shortage and age gap are continuing conversations in the industry and drives more contractors to find ways to add to the labor pool. In March, there were around 295,000 construction jobs open across the U.S, according to preliminary data from the U.S. Bureau of Labor Statistics. The median age in the construction field is 41.9, BLS data showed.
Meanwhile, different groups this week awarded scholarships, recognition and partnerships to schools and students interested in construction and STEM fields. One partnership between contractors and a school will create a new learning laboratory at a Wauwatosa high school, officials said. Here’s what groups did this week to support the next generation.
Plumbing and mechanical contractors partner with Wauwatosa schools
Wauwatosa East High School has partnered with mechanical contractors JM Brennan and TOTAL Mechanical, manufacturer representative Air Flow, the Milwaukee and Southeastern Wisconsin Plumbing and Mechanical Contractors Association and Sheetmetal and Air Conditioning Contractors Association to develop a learning laboratory to prepare the next building and construction trades labor force, officials said.
The partners will further develop the HVAC part of the technical training space at Wauwatosa East.
“At Tosa East we are very proud of our program,” said Craig Griffie, the technical education teacher at Wauwatosa East. “The students are building a really strong foundation and it’s all due to the partners we have.”
State awards “fab lab” grants to 18 school districts
Gov. Tony Evers and Missy Hughes, secretary of the Wisconsin Economic Development Corp., awarded $493,000 in “fab lab” grants to 18 school districts to train students in science, technology, engineering, arts and mathematics. The money is used to help create fabrication labs at local schools and equip them with computerized manufacturing machines such as 3D printers and laser engravers.
Lawmakers recognize national construction contest winners
State Rep. Clint Moses and Brian Westrate, staff for U.S. Representative Derrick Van Orden, recognized the University of Wisconsin-Stout construction team, faculty and staff. The team clinched a gold medal in estimating at the Associated Builders and Contractors National Craft Competition held this year in Kissimmee, Florida.
Madison utility awards high school scholarships
Madison-based Alliant Energy awarded scholarships worth $1,000 to 25 high school seniors in Iowa and Wisconsin. The scholarships are awarded to students who perform community service work, academic achievement and wrote an essay about community problems solved through science, technology, engineering or mathematical concepts.
Julie Bauer, executive director of the Alliant Energy Foundation, said “supporting workforce readiness and fostering young minds interested in STEM-based careers is critical to developing the future of a skilled and innovative workforce.”
Finance
Faegre Drinker Grows Dallas Finance & Restructuring Practice
Glenn Reitman has joined Faegre Drinker as a partner in the finance & restructuring practice in Dallas, the firm said Thursday.
Reitman represents lenders and borrowers in structuring, negotiating, and documenting finance transactions, according to Faegre Drinker. He has particular expertise with commercial, real estate, and energy projects and structured financing.
His finance practice includes private equity, venture capital, leveraged buyouts, structured products, loan workouts, and restructurings, said the firm.
This story was produced by Bloomberg Law Automation.
-
News1 week ago
Larry Webb’s deathbed confession solves 2000 cold case murder of Susan and Natasha Carter, 10, whose remains were found hours after he died
-
World1 week ago
Haiti Prime Minister Ariel Henry resigns, transitional council takes power
-
News1 week ago
First cargo ship passes through new channel since Baltimore bridge collapse
-
World1 week ago
US secretly sent long-range ATACMS weapons to Ukraine
-
World1 week ago
Spanish PM Pedro Sanchez suspends public duties to 'reflect'
-
News1 week ago
American Airlines passenger alleges discrimination over use of first-class restroom
-
World1 week ago
Asia bears biggest climate-change brunt amid extreme weather: WMO
-
Movie Reviews1 week ago
Humane (2024) – Movie Review