While there is a legitimate debate about whether a causal connection exists between job creation and wealth accumulation, at Team Ritcey we recognize a good news employment story when we hear one. Especially one that positively impacts our own, very special, part of the world.
Speaking from Bridgetown on August 16, Prime Minister Trudeau said: “We know that communities need jobs and we are going to get people to work,” as he announced $119 million in federal funding for wastewater and public transit projects in Nova Scotia.
Infrastructure projects identified for funding include $87 million to upgrade water and wastewater systems in Bridgetown, Lunenburg and Fall River. And a further investment of $32 million has been allocated in public transit funding to help upgrade accessibility on buses, and buy more buses.
At Team Ritcey we take a generally positive view of infrastructure investment, both on the provincial and national level, because we believe it leads to enhanced competitiveness, improved productivity and – most important – tends to boost employment and lead to higher real wages.
To those who question how we are going to pay for this kind of government infrastructure spending, I offer the following response:
Stimulus of this kind is needed right now and I remain confident that the nature of the proposed investments will stimulate the Nova Scotia economy sufficiently to provide offsetting future tax revenue.
According to Statistics Canada, the current level of unemployment in Canada is 7.1%. In Nova Scotia it is 8.3%. Any initiative designed to reduce that number is to be warmly welcomed.
The Ritcey Team