Thing$ Are Going North $$: The list keeps growing

Yesterday I posted a few items related to the rising costs of hydro in Ontario.

The complete list of Thing$ Going North$$ now stands at 12 - 13 items depending how you slice and dice certain charges.


["Pigs everywhere are under attack!"]

In my opinion, as the list grows, more people will feel frustrated with monthly bills, overall yearly costs, etc., and be more inclined to push back whenever any level of government in Canada says anything about taxes other than “cutting them to the bone.” And with spiralling debt, tax increases will surely need to be considered at some time.

For an example of push back, we need to look no farther than what giant pharmaceutical companies are doing in response to the provincial government’s attempt to, as they say, lower the cost of generic drugs for those who need it.

Push back will become more vehement whether governments try to reduce expenditures or grow a revenue stream.

So, tough times are ahead. Reduce your spending, pay down debt and save money as you can.

The list of Thing$ Going North$$ so far:

An 8% increase in domestic electricity costs starting May 1. (The increase will be lower if you have your so-called smart meter installed - 5.8%).

Plus another $9 per year for two additional charges.

Our inflation rate, which includes the effect of volatile items such as fuel, fruit and vegetables, rose more than forecast in February and is now up to 2.1% for the last full year.

Canada’s national debt will pass $620 billion in 2014, according to Canada’s Dept. of Finance.

Hydro rates will rise once we switch to the new ‘smart meter’ rates.

Since my last review, oil has risen $3.50 per barrel to $85.50 US.

Canada’s average household debt to income ratio recently went from 140 to 145 percent (predicted by experts to be at 160 soon).

Experts predict that higher interests are on the way, so mortgages and lines of credit will cost Canadians more.

The HST (Harmonized Sales Tax) will be starting on July 1, 2010 and will affect many shopping purchases and monthly bills.

Ontario’s provincial debt is approaching $200 billion.

At last review, Canadians were paying an average of 12 cents a litre more for gasoline at the pumps than a year ago.

Did I miss anything?

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