National Post (National Edition)
(THERE) IS A NEED TO MAKE SURE THAT WE REMAIN VIGILANT.
Securities Commission (OSC) “positive.”
Home Capital last week agreed on a settlement with the OSC and accepted responsibility for misleading investors about problems with its mortgage underwriting procedures.
Depositors have withdrawn 95 per cent of funds from Home Capital’s high interest savings accounts since March 27, when the company terminated the employment of former Chief Executive Martin Reid.
Morneau said top policymakers at the Bank of Canada told the gathered finance ministers that the economy was doing better than had been expected a few months ago.
The federal and provincial governments also discussed the need to keep the tax rate on recreational marijuana low and have a coordinated approach across the country, though ministers did not discuss revenue estimates, Morneau said.
“Revenue shouldn’t be our driving goal,” said Morneau.
Canada is on track to legalize recreational marijuana by next summer, though the federal government has left the details of how the drug will be sold up to the provinces.
The Liberal government has said legalizing marijuana will keep it out of the hands of children and reduce drugrelated crime. It also wants to keep the sale price low enough that users will not turn to the black market.