…And impact corporate balance sheets Canadian companies also ran up debt balances as low interest rates spurred spending on residential structures and capital goods. Slower growth and softer housing construction in 2019 will likely weigh on credit demand. Canadian companies borrowed more heavily than their international counterparts Percent of GDP 120 Advanced Economies Canada 110 100 90 80 70 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Source: BIS, RBC Economics Research Source: BIS, RBC Economics Research Two big new revenue streams for governments in 2019 $6 billion $400 million The amount of money Ottawa and the prov- The total amount the federal and provincial inces will collect from various carbon pricing governments expect to collect from cannabis schemes in fiscal 2019-2020. Governments duties this year. Ottawa alone anticipates it aren’t keeping it all. In several provinces, much will bring in $100 million, the federal govern- of carbon revenue will be returned to house- ment’s maximum take in the first two years holds in the form of rebate cheques. of legalization under a revenue-splitting deal with provinces. RBC Economics Research | Navigating 2019 - 9 big insights for the year ahead | January 2019 10