- The first few months of 2024 will be a busy year for both home and foreign affairs in Canada.
- Interest rates may decline in 2024, but this could work against the Liberals in the housing sector.
- The second stage will concentrate on improving Canada’s response to foreign meddling.
Politicians in Canada are predicting that the first few months of 2024 will be a busy year for both home and foreign affairs. Five political observers were interviewed by The National Post to get their annual forecasts.
Pierre Poilievre has connected the affordability crisis to the carbon price, therefore it is anticipated that the Liberals will concentrate on climate policies and the carbon tax. But the Liberals have been having difficulty explaining their approach to climate policy, and Poilievre is sure to call them “out of touch” when he talks about how fantastic life has never been for Canadians.
Interest rates in Canada
Interest rates may decline in 2024, but this could work against the Liberals in the housing sector. Due to high interest rates, first-time homebuyers may be putting off their purchase while current homeowners may be content to extend their mortgages.
Due to a decline in polling following the rise in interest rates to 5%, the federal government has been announcing plans to increase the supply of housing during the fall session.
With an inflation rate of 3.1% in November of last year, Canada’s economic position is looking up. But public opinion of the federal government is dependent on the state of the economy, so if the Bank of Canada decides to cut interest rates in 2024, it might be interpreted as an indication that things are not as dire as they seem.
Canada is still involved in the Israel-Hamas conflict, as Israel is committed to destroying Hamas at all costs. But Canada can only play a very small part in a political process that ultimately results in something other than a two-state solution. Rather, Canada has joined a recently formed international mission spearheaded by the United States to defend ships in the Red Sea from armed factions known as the Houthis, who are backed by Iran.
The Liberals and the NDP have reached an agreement on the matter, despite the NDP Leader Jagmeet Singh’s threat to withhold support if they failed to enact a national pharmacare scheme by the end of the year. To preserve its excellent standing with its voters, the NDP might think about withdrawing from its supply-and-confidence deal with the minority Liberals.
When public hearings begin on January 29, it is anticipated that the federal investigation into foreign meddling will take the front stage in the press. The amount of foreign meddling in recent Canadian elections by China, Russia, and other foreign powers will be the main focus of the investigation’s first phase.
The second stage will concentrate on improving Canada’s response to foreign meddling. The leader of the Conservative Party, Pierre Poilievre, is anticipated to maintain his advantage in the polls when the 2024 Canadian election campaign gets underway.
