Sunday, April 14, 2013

Foreign Workers in Canada

I do not usually weigh in on political discussions but the recent uproar over hiring at RBC and the criteria under which they were able to complete this maneuver has quite caught my attention. As a life long conservative, I tend to support that party and have seldom moved from that. However, there are times when I look at what a party in power is doing and consider the axiom "absolute power corrupts" and it is seldom that this is not a truth in our society. Would indeed love to see that it wasn't true.

To me, it is absolutely absurd that there were not any safeguards in place to protect Canadian workers from companies bringing in foreign workers and supplanting a Canadian worker  in order to ship jobs out of the country (most disgraceful to actually ask the people due to lose their jobs to train them!). Totally unacceptable in particular by a Bank that is Canadian and has primarily Canadian funds in its accounts at this time. Expanding around the world isn't something that interests me with regard to a bank that I deposit money into. Making good financial investments around the world I do not have a problem with particularly but going into foreign countries with a mind to expanding beyond the level of being a Canadian bank is suspect in my mind. What is the purpose of getting involved in a country like India with its billion people? Are they intending to have Canadian depositors absorbed into a bank that will ultimately have a much larger base in India and perhaps move its head office there? To me that is impractical for Canadians. We want our money protected from the ups and downs of emerging economies and their rather loose economic control.

Since there is a majority Conservative government, making changes to this "emergency" foreign workers should take place in a timely fashion. I hope to see a lot of action in that regard over the next couple of weeks. It does make one wonder why 50,000 jobs were lost in April.

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