Alcock under fire over Adscam sponsorship figures
Reg Alcock claims only 13 million at most was skimmed from the federal sponsorship program, contradicting Auditor General Fraser who reported about 100 million routed to Liberal-friendly Quebec agencies. Ernst & Young denies auditing Adscam, prompting a partisan clash as Liberal support slides to 35 percent.
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Canadian debt boom fuels cheap money and housing fears
Garth Turner warns that ultralow rates spark a borrowing binge, risk deflationary pressure, and rising debt as Bank of Canada policy keeps money cheap. He predicts five year fixed rates near 4 percent and ongoing real estate strength before a future rate shock. Global events and politics add to the unsettled outlook.
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