In the space between an unprecedented economic boom and COVID's pandemic panic, Prince Edward Islanders strive for balance
As acres of potatoes started to be churned up from the red, iron-rich soil of Prince Edward Island in 2020, farmers were aware of where they stood, even before the accounting began. Another year with drought conditions for many during the height of the growing season, with limited ability to mitigate, meant there were lower yields per acre. Farmers who spoke with Atlantic Business Magazine are certain, given climate change, the hits from peak-season drought are going to be all the more common. The provincial government says with climate change the Island will, generally speaking, receive more precipitation in the
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Gaming – specifically use of entertainment centres, casinos and separate video lottery terminals – slowed to a crawl as a result of required COVID-19 restrictions. Both private companies and provincial governments are scrambling to manage the losses. In a particularly difficult case, staff at the Grey Rock Entertainment Centre in New Brunswick were notified this week of more changes – to hours and take-home pay – for the 75 people still employed there. The way casino owner John Bernard described the latest changes sounded like a Hail Mary pass with a clock winding down, with Bernard doing anything he can
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If you’re struggling to work through the bills and keep a business afloat, to cover fixed costs, it’s possible one of the last things on your list would be your business association or chamber of commerce membership. That’s a challenge both for individuals and their businesses, but also the local chamber. Without a membership, there is a loss of services and some peer supports, while the chamber loses out on annual dues it needs to operate – a real risk as businesses struggle in the wake of COVID-19. “Restaurants, travel, some retail: we continued to hear their stories. And one
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Newfoundland and Labrador Finance Minister Siobhan Coady has contradicted Ottawa’s portrayal of proposed changes to the federal fiscal stabilization program, saying the changes will not offer any new, meaningful support to Canada’s most easterly province. The proposed changes are offered in a section of the federal fall economic statement titled: “Significant support for provinces and territories.” They include moving a per-capita cap on transfers paid out under the program up from $60 per person to about $170 per person in 2019-20 and 2020-21 (indexing to nominal GDP growth per person). According to the Government of Canada statement, the changes overall
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