Canadians have more cash — how much depends on where you live

OTTAWA — The latest batch of numbers from the 2016 census suggests Canadians are a little more flush with cash than they were in 2005 — but a lot depends on where they live.Statistics Canada reports the median total income of Canadian households reached $70,336 in 2015, a 10.8 per cent increase from $63,457 in 2005.That spike was largely driven by the commodity price boom of the last decade — Nunavut and Saskatchewan saw increases of more than 36 per cent, while Newfoundland and Labrador, Alberta, the Northwest Territories and Manitoba also grew by more than 20 per cent.However, nearly 1.2 million children under 18, 17 per cent of Canada’s 6.8 million kids, lived in a low-income household, about one quarter of the 4.8 million people who were living in poverty in 2015 — the largest share of them in Nova Scotia and New Brunswick.Nearly two-thirds of Canada’s 14 million households saved for retirement in 2015 through one or more of a registered pension plan, a registered retirement savings plan or a tax-free savings account.And both spouses reported income in nearly 96 per cent of married or common-law couples, compared with two-thirds of couples in the mid-1970s. Of those, 32 per cent were earning roughly the same income, compared to 20.6 per cent in 1985.More to come … read more

President signs gazette to establish commission on SriLankan Mihin

Hashim had said that action must be taken against some former and current SriLankan Airlines officials based on the J.C. Weliamuna Report on the National airline. (Colombo Gazette) President Maithripala Sirisena has signed a gazette notification to establish a Presidential Commission of Inquiry (PCoI) to investigate corrupt practices at SriLankan Airlines and Mihin Lanka.The President said that the names of corrupt politicians and officials will be exposed once the commission begins its work. The Minister had also said that his hands were tied in some aspects and so he was unable to do what he wanted to do. Minister of Public Enterprise Development Kabir Hashim had last year called for strict action to be taken against a “mafia” at SriLankan Airlines. read more