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Canadian Consumer confidence hits seven year low according to Conference Board of Canada. Part of the reason could be the gas price hike, Conference Board noted.

This makes sense. Consumers are more careful buyers now, with income not increasing at the ratio of inflation. I, sometimes, try to remember the $0.56/litre 6 years ago. Gas price has been increasing last few months. It is, of course, having a domino effect on everyone's life style. More cost for commuting to work, to fun places during vacation or even day to day shopping.

Food price is on the rise. In last one month price of rice went up 110%, I checked today at the grocery store. Same goes for Red onions, to name a few. Fuel surcharge is being applied to quite a few transportation industries including ferry services.

I think this is the high time that the Canadian government should come up with a plan to encourage businesses to increase salary of the employees. How?

This question is related to more of a broader perspective of fuel cost and its impact on Canada and it's economy; gas price has domino effect on prices of other necessary commodities as well.

Therefore, 'carpool', 'ride-a-bike', 'public transportation', 'changing a job for a better salary' etc. are most common solutions that anyone would have immediately thought of. They are similar to "vegetable price is high so let us share a plate", or "meat price is high, so let us switch to saya protein'. It's not that they are not solutions, certainly they are; but short term and they are personal solutions.

Rise of fuel cost is not a personal problem. It's a global issue. We would have to deal with it in a much broader perspective and far-sightedly.

Pay raise was an ultimate word. but to get to that we may have to address different areas of opportunities. There comes the role of a Government.

If I am leading Canada,

* I would have explored Alternative energy sources and technological advancement that can address the replacement of gas. This action requires a joint approach by Industry Canada and the Government.  
* I would use public instruments of different incentives to public and industries, therefore, shifting the econimic pressure to balance the load.
* Actions such as above would passively influence companies to incorporate different strategies that would offset rise of cost of living without affecting the profitability, such as company transportation, 'cost-of-living' component in the pay structure etc.

These are some food for thoughts. Bottom line is, Canadian leadership requires to shake up, explore opportunities to resolve the crisis rathar than view the crisis. Let's understand one thing there is no short term solution that would replace an ultimate solution and that is stop relying on external sources of fuel.