It sure looks that way. Check this out:
Minimum wage hikes across Canada this year could cost about 60,000 jobs, despite the benefits they would bring, the Bank of Canada says in a new report.
The central bank published a report over the winter break, attempting to calculate what sort of economic impact a series of minimum wage hikes set to come into force this year will have on Canada’s economy.
As of Jan. 1, Ontario’s minimum wage is now $14 an hour, up from $11.60. By the end of 2018, Alberta, Quebec and Prince Edward Island are also expected to hike their minimum wages.
At Daisy, we have always paid more than that – and also covered cell phone costs, transit passes, and whatnot. Toronto, we believe, is an expensive place to live in.
When the angry phone calls from Queen’s Park start heating up, Trudeau’s guys will be able to say (rightly) that they cannot control what the Bank of Canada does and says. That’s true. It’s also true that you are not going to see a single Trudeau cabinet minister contradicting the Bank of Canada’s stated view: they can’t.
The political bottom line therefore remains the same: the Ontario PC leader now has a very useful talking point to deal with what was becoming his biggest vulnerability, the minimum wage. He’ll be able to shrug and say: “Look, it doesn’t matter what I think. What matters is the Bank of Canada agrees that thousands of jobs are going to be lost. I’m not against raising the minimum wage – I’m against doing it in a way that costs Ontario jobs. I’m against doing it as an election stunt, to save a tired old government.”
Will it work? Probably.
And that’s why we say Mr. Trudeau arguably has given Mr. Brown a very valuable post-Christmas gift.