Councillor Ed Sperling's cautious optimism about the economy is playing into his budget priorities.
"I think the community has fared quite well in terms of weathering this recession storm," said Sperling. "We're not at the end of this yet, there's more to come, but I think we're well positioned though."
Sperling is being careful due to outside forces, particularly the Bank of Canada changing the loan interest rate by a quarter of a point to one per cent.
"The increases to prime lending, that has an impact on existing homeowners potentially and of course anyone wanting to get into the market," explained Sperling. "As prime rate goes up, typically pricing on borrowing goes up, as well so that tightens things up a bit."
Sperling is worried it could hurt not just the local real estate market, but the local large-purchase economy.
With that in mind, he's looking to the city's budget priorities to counter uncertainties in the marketplace.
"What are the current challenges year-over-year? We need to focus our efforts and spending in those areas."
Sperling, along with the rest of council, will be placing an emphasis on sustainability during Budget 2018.

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