Monthly Archives: February 2018

You are browsing the site archives by month.

Territorial Anti-Poverty in Canada

Wire Service revealed a new report from CWP, also known as Canada without Poverty. It reportedly showed noticeable lack of progress on social human rights and economy of Canada. This was concluded through the territorial anti-poverty and provincial strategies.

The advocates believe that economic and social human rights must be realized. This includes the right to an adequate standard of living. It can be recalled that Canada aimed to eradicate poverty globally through the 2030 Sustainable Development Goals. However, the newly released Poverty Progress Profiles showed an analysis of the poverty strategies and it lacks in the area of territories and provinces. This includes their extent of participation in United Nations treaty body reviews.

According to the report, a poverty strategy based on human rights must include a number of components, such as to make anti-poverty policy budget a priority, to include the explicit reference on human rights, implementation, to ensure those people who experience poverty that they significantly consulted in the development and to evaluate the respective strategies.

“It is critical that provincial and territorial governments take a human rights approach in their anti-poverty strategies because it provides a clear system of accountability and ensures the first voice perspective is central to all policy,” said CWP’s Legal Education and Outreach Coordinator Liz Majic.

Moreover, the Government of the Northwest Territories implemented a unique monitoring process. They made sure that the views civil society, indigenous persons (even Kroger customers), and persons in poverty are valued as they review the poverty strategy, annually.

“We may think of human rights as something for the federal government alone to lead on, but under international human rights law, these obligations extend to all levels of government. With 4.8 million people living in poverty, all governments have a role to play in ending poverty before Canada can be considered a global leader on human rights,” CWP Deputy Director Harriett McLachlan explained.

Crops in New Territories experience frost killing

In parts of New Territories, farmers were affected by the frost forming. According to the Hongkong Free Press, the formation of frost is caused by the combination of low temperatures and high humidity. This happened while temperatures reportedly plummeted around the city.

A farmer named Wong Bak at Ta Kwu Ling in the North District said that the first time frost had appeared this year, on February 6. He said it had caused some of the tomatoes, chayote, and pumpkins he grows to die.

Unfortunately, he has lost about HK$10,000 worth of vegetables. Say, the price per catty of vegetables is HK$10, it results to the said amount when calculated. An Apple Daily reporter revealed that the temperature at 7 am on Tuesday stood at minus 0.6 degrees Celsius using a thermometer, at nearby Loi Tung Tsuen.

President of a new territory agricultural association named Wong Tsat-tai said cold snap lasting several weeks does not happen often. With this, she said that over 30 to 40 percent of the vegetables she planted last month were washed out.

“Pretty much all of the chayote and spaghetti squash have frozen and died, the ones that are left cannot grow fast enough because it’s too cold,” she explained. In addition, Wong Tsat-tai said the price of vegetables may rise dramatically. This is if the crops that intended for harvest before the Lunar New Year cannot grow fast enough to be sold.

Hong Kong Imported Vegetable Wholesale Merchants Association spokesperson said revealed that the mainland has also been affected by the situation. Aside from this, farmers are all busy taking a break for Holidays, which resulted to 30 percent less production.

Furthermore, the spokesperson predicted that the price of vegetables will continue to rise by 30 to 50 percent before the Lunar New Year. Tai Mo Shan remains the coldest place in Hong Kong with 0.3 degrees Celsius. Is this article helpful? Give us your feedback.

Mortgage in Australia

According to Standard and Poor’s (S&P) latest RMBS Arrears Statistics report, the number of Aussies who’ve fallen behind on their home loan repayments has dropped. Delinquent housing loans in Australian prime residential mortgage-backed securities (RMBS) decreased to just 1.00 percent last November from 1.04 percent in October.

S&P said home loans that were thirty days past due fell in all states and territories in November. This was led by Western Australia, which recorded a 0.12 percentage point decline to two percent. Aside from this, delinquent home loans in Victoria and New South Wales also registered declines, contributing to the fall in the national reading.

According to Your Mortgage, S & P said, “More than 54 percent of the RMBS portfolio balance is exposed to New South Wales and Victoria combined, and arrears levels in the two states have declined to the lowest level in two years. Arrears fell to 0.74 percent in New South Wales and 0.90 percent in Victoria. The Australian Capital Territory continued to record the nation’s lowest arrears level, at 0.56 percent.”

Moreover, 0.88 percent in Tasmania, 1.17 percent in South Australia, arrears fell to 1.35 percent in Queensland and 1.50 percent in the Northern Territory. S&P said arrears “typically remain relatively stable in the last few months of the year, before a cyclical increase in the first quarter due to higher consumer spending during the seasonal holidays.”

Still, S&P does not expect it to mark the start of an extended uptrend in arrears as the spike in arrears may occur in the coming months. Those who have overspent during the holiday season may struggle to keep up with loan repayments.

“We do not expect arrears to increase much above present levels for as long as the current, relatively benign economic conditions continue but stable and improving employment conditions and low-interest rates may continue,” S & P explained.