More on Trusts

It looks like I am not the only one saying that some warning would have been nice.  There are a lot of pissed off people out there - and a lot of them from the demographic that the Conservatives should be courting.  Again, I do think that in the long run this was a good decision, but the whole process by which the Conservatives have done this strikes me as piss poor.

Cherniak on Politics: On Income Trusts

If they had warned people to be cautious, then this would not have happened. How might they have done that? It is simple. The day that BCE made its announcement and after the markets closed, Flaherty could have said "this sort of extremity was not our expectation when we set our policy a year ago". Would that have been misleading? Perhaps as far as the motivations for the policy last year. However, at least it would have informed the markets that something was up.

The Progressive Right: Income Trusts

Garth Turner had a better solution to handling the income trust closure: I think the minister of finance could have declared a moratorium on new conversions, struck a blue ribbon panel to study the industry and eased in regs over the past few months making it crystal what direction the feds were going in. That would have allowed for a more orderly, less panicked correction, and kept from scaring the crap out of a few million seniors. It would have been a kinder blow.

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