Morneaus growth council to focus on unlocking business spending broadening job skills

OTTAWA — The Trudeau government’s influential team of economic advisers is pursuing solutions to an issue that has preoccupied policy-makers for years: how to open the spigot on business investment.Dominic Barton, chair of Finance Minister Bill Morneau’s growth council, told The Canadian Press that the group’s next report, due this fall, will outline ways to encourage more business investment with the aim of reversing several years of decline.“We’re still in the diagnostics (phase) to try and understand more what’s happening,” said Barton.“Are there levers that we can pull to try and encourage more investment?”Since its creation last year, the group has produced eight reports containing recommendations that have played a key role in the development of government policy.Ottawa’s growth council proposes spending to upgrade skills for swiftly evolving job marketAdvisory council recommends Canada embrace trade, become global hub to ‘jolt’ economyThe council, Barton added, is also working to build upon past recommendations on how to ensure Canadians are ready for the rapidly transforming needs of the country’s labour market.Earlier this year, the group suggested Ottawa establish an arm’s-length national agency to help workers upgrade their skills. It warned that nearly half of Canada’s jobs are at high risk of being affected by future technological change, such as automation.Barton, the global managing partner of consulting giant McKinsey & Co., said this time the advisers will focus on a plan to help higher-skilled workers who, like lower-skilled workers, face the possibility of losing their jobs.“We’re worried about the skilled workers that will lose their jobs,” said Barton, who hopes eventual solutions will be driven by the private sector.“So, how do we make sure there’s a system in place to help?”However, he was reluctant to share some of the council’s possible recommendations for job skills or for business investment, since it’s still early in the process.On business investment, Barton said the group will also weigh the potential impacts on Canada from the Trump administration’s plans for trade and corporate taxation.He said the council hopes to build on existing research, including work conducted by the Conference Board of Canada, the C.D. Howe Institute and tax-policy expert Jack Mintz. The group has already had a 90-minute session with Larry Summers, a one-time U.S. treasury secretary and former president of Harvard University.A discussion paper released in March by C.D. Howe said business investment in Canada was relatively strong between 2009 and 2014, which was marked by an oil-price shock.But since then, the think tank found there’s been a large decline in corporate spending across the country — from $15,100 per worker on new business investment in 2014 to a projected $11,700 per worker this year.“Capital investments by Canadian businesses have fallen sharply and 2017 looks especially bleak,” said the paper, which recommended policy measures to promote business investment: liberalized trade, less-intrusive regulations, cheaper electricity and lower taxes.Last month, the Bank of Canada’s business outlook survey detected early signs of a “modest” pickup in corporate investment over the near term, even amid considerable uncertainty surrounding the U.S. economic agenda.The Canadian Press read more

Developing geologicallybased magnetic model with interpretation modelling and inversion techniques

first_imgGenerally, taking a closer look at integrating geological and geophysical data, “exploration is becoming harder,” MiraGeoscience explains, “with greater focus at depth or under cover. Decisions need to be made to eliminate ambiguity and decrease uncertainty within 3D models, supported and cross-validated by multiple data sets. An integrated interpretation is not a simple approach, but provides answers to geoscientific questions which are stronger than interpreting individual data sets on their own. In terms of integrating geological and geophysical data, the essential goal is to interpret the available geophysical data in terms of the geometry and properties of geological domains. Better models underpin better business decisions.”The integrated process requires a common sense approach to interpretation that is flexible, adaptive and objective driven. It is not an exact formula or workflow; particularly when multiple geophysical surveys are involved. Understanding the relationships between geology, geophysical responses and rock properties is the key to success. First, you must identify how geophysical signatures relate to geology to develop a geological basis for your integrated interpretation. Following this, rapid 3D geological modelling and geologically-based geophysical forward modelling and inversion are essential for model validation and quantitative integration of data.The Mutooroo iron project area, in Australia, is a good example of developing a geologically-based magnetic model using a variety of interpretation, modelling and inversion techniques. Due to limited constraining data on the magnetic units, construction of the starting model was based predominantly on interpretation of magnetic data. In this instance, the goal was to first develop a geologically plausible 3D representation of homogeneous magnetic domains beneath non-magnetic cover that explains the majority of the measured magnetic response. This was supported by the sparse geological data and magnetic susceptibility provided by drilling under cover. The robustness of the magnetic domains are validated by assigning a homogeneous susceptibility to each domain, forward modelling and observing a good correlation between the predicted and measured magnetic data. A final stage of inversion, to solve local susceptibility variations within the domains, highlights magnetic anomalies that may be associated with potential targets or areas of geological complexity that require further investigation. This model, consistent with geological constraints and geophysical survey data, provides a basis for confident decision-making, and can easily accommodate new and evolving information as it becomes available.The Mutooroo image shows:a) Magnetic domain boundaries interpreted from magnetic data. The domains were incorporated in the starting model as sub-crop of magnetic units at the base of cover/oxidation level.b) Final susceptibility model at 120m RL (~300 m depth). Integrity of geological domains after inversion validates the developed geological framework and highlights local variations within the domains.© 2011 Minotaur Exploration Ltd. All rights reservedlast_img read more