Market Open: New Tariff Proposal Rises TSX Futures
Market Numbers (Futures)
TSX : Up ( 0.20%) 27,074.33TSXV: Up (0.32%) 757.62DOW: Down (0.03%) 44,667.00NASDAQ: Up (0.24%) 22,940.00
FTSE: Up (0.19%) 8,822.84
In the Headlines:
A large shareholder of Dye & Durham Ltd. is pushing the company to put itself up for sale and seeking changes to its board of directors.
And The Conference Board of Canada expects wage hikes will pick up speed in the coming years as the pace of population growth slows down.
Currencies Update: (Futures)
The Canadian dollar is higher this morning standing at $0.7336 U.S, glowing green on the Euro by 0.11% to $0.6255 and Bitcoin sneaks in 0.22% to CDN$148,602.94
Commodities: (Futures)
Natural Gas: Down (0.68%), 3.39WTI: Down (0.09%), 67.87Gold: Down (0.25%), 3,327,66
Copper: Up (0.10%) 6.16
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Calgary Herald
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Trump to hit Canadian copper with drastic 50% tariff, clobbering massive export market
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Canada News.Net
an hour ago
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Vancouver Sun
an hour ago
- Vancouver Sun
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In June, a delegation of 27 Canadian business, labour and post-secondary leaders travelled to Ireland to study how the nation secured its position as the European Union's leader in workforce development and skills training. Ireland's success in establishing co-ordinated, industry-driven training programs has delivered substantial economic benefits for workers and the broader economy. With 5.5 million residents — similar to B.C.'s population — this dynamic country provides important insights for Canada as Prime Minister Mark Carney seeks to establish Canada as the G7's fastest-growing economy. Ireland's extraordinary productivity achievements — ranking first in the OECD while Canada is 18th — stand in sharp contrast to our stagnant and marginally declining wealth creation per worker. A daily roundup of Opinion pieces from the Sun and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Informed Opinion will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Ireland has emerged as a global productivity leader, securing substantial foreign investment and maintaining full employment. The nation has successfully diversified its economy, establishing itself as a major exporter of technology services while building a sophisticated biopharmaceutical industry. Currently, it is applying these strategies to construction, addressing housing affordability challenges similar to Canada's. These accomplishments result from deliberate strategic investments in worker up-skilling and re-skilling, led by organizations such as Skillnet Ireland and Enterprise Ireland. Canada has long lamented its relatively poor labour productivity performance among developed nations, at US$71.90 PPP (purchasing power parity) compared to Ireland's US$162.50 PPP in 2022). We cannot continue accepting this underperformance. Our productivity challenges stem largely from Canada's long-standing practice of disconnecting training from industry and actual workplaces, including small- and medium-sized enterprises — the foundation of Canada's economy and employment. Canada's skills training faces frequent criticism for being fragmented and overly jurisdictional, with provincial barriers that struggle to recognize equivalent domestic credentials and inadequate systems for evaluating the international qualifications of newcomers. Despite some recent improvements, we must adopt smarter and more ambitious approaches to achieve substantial, rapid progress in wealth generation through strategic 'nation building' investments from both public and private sectors. Skillnet Ireland demonstrates how public-private collaboration can create responsive, industry-led training systems. The Irish approach ensures workers develop skills that employers actually require, promoting both individual career advancement and national economic competitiveness. While Canada provides young people with solid foundations in literacy, numeracy, and interpersonal skills through high school, the country often fails to align post-secondary and skills training systems with labour market demands. This disconnect has been especially pronounced in sectors like construction, where skilled trades shortages threaten our capacity to complete major transportation, energy, and institutional infrastructure projects while hampering efforts to build affordable housing quickly. British Columbia's construction industry, trade unions, and post-secondary institutions should adopt Ireland's collaborative training model. Their tripartite system receives government support while maintaining greater industry-led decision making and independence through direct, sustainable funding through national payroll contributions. If Canadians collaborated more effectively to recruit, train and up-skill workers in high-demand trades, we could finally address the persistent labour shortages we have discussed for years. This would enable Canada's major employers and governments to deliver large-scale infrastructure projects more reliably and cost-effectively. Canada has failed to adequately replace retiring construction workers, with insufficient numbers entering relatively rigid, traditional trades training programs. Meanwhile, Ireland's government, industry associations, and unions are embracing technologies associated with modern methods of construction through substantial capacity-building investments. Canada's recent throne speech committed our manufacturing sector to producing new building technologies, including scaled production of modular building components. Strategic investments in lifelong learning, targeted re-skilling, and industry-education partnerships could dramatically improve our labour productivity. Ireland, known as the 'night course capital of Europe,' has cultivated a culture of continuous, industry-supported learning, proving that sustained workforce investment yields significant returns. This represents Canada's most pressing challenge — better preparing young people and current workers for future demands while facing potential major tariff barriers from our primary trading partner. Ireland's dedication to workforce development and skills training offers valuable lessons. Rather than resisting more direct industry-led approaches, we should embrace training that meets actual needs while positioning people for well-paid and fulfilling careers. To achieve G7 leadership in economic growth, workforce productivity must become central to our national strategy. Ireland's example is unmistakable: a skilled, adaptable workforce committed to continuous learning and up-skilling represents more than an economic advantage — it is the cornerstone of enhanced prosperity. Chris Atchison is president of the B.C. Construction Association. Rob Fleming is former B.C. minister of transportation and infrastructure. Matt Pitcairn is president of the B.C. Roadbuilders and Heavy Construction Association. Chris Wasilenchuk is president of the Construction, Maintenance and Allied Workers of Canada. Colin Ewart is former president of B.C. Colleges.
