One often thinks of plentiful resources when my native Canada comes to mind (if it ever comes to non-Canadian minds).

Shouldn’t it, therefore, be least affected by the recession?

Well...

As I flicked through today’s papers, looking for material for Taxation’s weekly news briefing (send ‘News Briefing’ to taxation@lexisnexis.co.uk for your own free copy), I noticed that The Times had made an ever-so-brief mention of the motherland.

And when I say brief, I mean bottom of page 37, fewer than a 100 words.

Most economists agree that Canada has been one of the best-run countries in recent years, said the article.

But to answer my earlier question: nope, not really!

While the Canadian stock market has gained considerable growth in recent weeks, due to oil and metal prices rising, the country isn’t doing as great as I’d hope.

Globalization and economies of scale have brought down even the best of the best.

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