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Lab grown meat could be on sale in UK within two years - but what is lab-grown meat?

Meat, dairy and sugar grown in a lab could be on sale in the UK for human consumption for the first time within two years, sooner than expected. The Food Standards Agency (FSA) is looking at how it can speed up the approval process for lab-grown foods. Such products are grown from cells in small chemical plants. UK firms have led the way in the field scientifically but feel they have been held back by the current regulations. Aston University has been working on cultivated meat - find out more about what lab-made meat is  made of and how it is created in the podcast Breaking Down Barriers on Spotify   https://open.spotify.com/episode/7bFy1gr2LJCwiRLPAT9Hml For further details contact Nicola Jones, Press and Communications Manager, on (+44) 7825 342091 or email: n.jones6@aston.ac.uk

How a Fraudster Almost Stole Graceland

In a recent case that left many “All Shook Up," a Missouri woman attempted to defraud the Presley family by claiming ownership of the iconic Graceland estate. Most stories involving “The King” make for good reading, and they also hold an important lesson for homeowners. This bold scheme is a stark reminder that fraud knows no boundaries—whether you live in a mansion or a modest home, fraudsters can and will target anyone. The Graceland Fraud Attempt Lisa Jeanine Findley, a 53-year-old from Missouri, orchestrated a plan to defraud Elvis Presley’s family of millions by attempting to claim ownership of Graceland. She falsely alleged that Lisa Marie Presley had used Graceland as collateral for a $3.8 million loan that remained unpaid at the time of her death in 2023. To support her claims, Findley fabricated loan documents and filed fraudulent foreclosure notices, threatening to auction the estate if the supposed debt wasn’t settled. Riley Keough, Lisa Marie’s daughter and heir to Graceland, challenged these claims in court, asserting that no such loan existed and labeling the foreclosure attempt as fraudulent. The court sided with Keough, blocking the sale and prompting Findley to withdraw her claims. Subsequently, Findley was arrested and charged with mail fraud and aggravated identity theft. She pleaded guilty in February 2025 and faces up to 20 years in prison, with sentencing scheduled for June 18, 2025. Lawrence v. Maple Trust - A Canadian Fraud Attempt Closer to home, in 2006, Toronto homeowner Susan Lawrence fell victim to a similar scheme. Fraudsters transferred the title of her fully paid-off home into their names and registered a fraudulent mortgage with Maple Trust. Lawrence only discovered the fraud when she attempted to access her home equity. After an initial ruling forced her to bear the mortgage debt, she appealed. The Ontario Court of Appeal reversed the decision, ruling that the lender should bear the loss, not the innocent homeowner. The case took nearly two years to resolve and cost Lawrence an estimated $50,000 to $100,000 in legal fees—not to mention the emotional and financial stress. Lessons for Homeowners about Fraud This case highlights several critical lessons for homeowners: 1. Be Vigilant Against Fraudulent Claims: If fraudsters can attempt to steal Graceland, they can target your home too. Monitor your property records for unauthorized changes. 2. Don't Divulge Sensitive Information: Fraudsters can use social engineering tactics to piece together important information you share and use it to forge or alter property ownership records etc.  Be careful with what you share, especially with strangers. 3. Regularly Monitor Property Records: Periodically checking public records for any unauthorized liens or claims against your property can help detect and address fraud early. Online credit reporting services such as Credit Karma offer free apps and email alerts that can help you spot potential fraud. 4. Beware of Contracts: Watch out for deceptive practices employed by certain rental companies, leading to unexpected financial obligations and complications. Using deceptive, high-pressure sales tactics, these companies can leave homeowners burdened with property liens after signing contracts for appliances like furnaces, air conditioners, and water heaters. If you are faced with this, don't rush the process.  Do some additional research and/or take the next step below. 5. Consult Legal Professionals: If you are pressured to sign a contract, receive dubious claims, or receive foreclosure notices, seek advice from qualified legal professionals to navigate the situation effectively. 4. Secure Title Insurance: Title insurance protects homeowners against potential defects in the title, including fraudulent claims. It’s a crucial safeguard that can prevent significant financial loss. Let’s unpack this last point about Title Insurance. What is Title Insurance: Your Best Defence Title insurance is a safeguard for homeowners, protecting them against potential issues related to the ownership of their property. This insurance ensures that the homeowner is shielded from financial loss if any unforeseen problems with the property’s title arise. Title insurance is a policy that protects property owners and lenders against financial loss resulting from defects in a property’s title. These defects can include unknown liens, encroachments, zoning violations, or even fraud that may have occurred before the homeowner acquired the property. Unlike other insurance types that cover future events, title insurance addresses past events that could affect property ownership. Why is Title Insurance Necessary? Purchasing a property is often the most significant investment individuals make. Title insurance provides peace of mind by ensuring the property’s title is clear and free from unforeseen issues. Without this protection, homeowners could face legal disputes or financial losses if a problem with the title emerges after the purchase. For instance, if a previous owner’s unpaid taxes or undisclosed heirs come forward claiming ownership, title insurance would cover the legal fees and potential losses associated with resolving these issues. The Cost of Title Insurance in Canada In Canada, the cost of title insurance varies depending on factors such as the property’s value and location. Typically, premiums for residential properties range from $250 to $500. However, the cost can increase for higher-valued properties. This premium is a one-time payment made during the closing process and remains valid for as long as the homeowner owns the property. Providers of Title Insurance in Canada Several reputable companies in Canada offer title insurance. Some of the prominent providers include: FCT (First Canadian Title) Stewart Title Please note: None of the providers above are sponsored links. How to Check if You Have Title Insurance If you’re uncertain whether you have title insurance, consider the following steps: 1. Review Your Closing Documents: Examine the paperwork you received during the property’s purchase. Look for any mention of title insurance policies. 2. Contact your real estate lawyer: The legal professional who helped with your property purchase should have records showing whether title insurance was obtained. 3. Contact Title Insurance Providers: Most Title Insurance companies maintain issued policy records. Contacting them directly can help confirm whether a policy exists for your property. Homeowners Without a Mortgage: A Higher Risk Group If you’re a homeowner who owns their property outright, you can be at a higher risk concerning title-related issues. Why? Fewer parties (such as lenders) monitor the property’s status when no mortgage is in place. By contrast, when a mortgage is involved, most lenders today, as a rule, require title insurance to protect their investment, indirectly safeguarding the homeowner as well. However, some homeowners might overlook obtaining title insurance without a lender's mandate. This leaves you more vulnerable to potential title defects or fraudulent claims against your property. Real estate fraud is not a problem reserved for the wealthy—any homeowner can become a target. Securing title insurance and staying vigilant is the best way to protect your property and your financial future.   It's such an important topic, I'll be sharing more tips on title insurance in future posts.  After all, as Elvis might say, “What I say is true; if it could happen to the King, it could happen to you.” Don’t Retire … Re-Wire! Sue

The Battle Begins - How Long will Trump's Trade Wars Last Between China, Canada and Mexico?

It has begun.  March 04 signaled the first day of what could be a long and drawn out trade war between America and it's two closest neighbors and trading partners - Canada and Mexico. President Trump also doubled the tariff he slapped last month on Chinese products to 20%. Markets are reeling, politicians are scrambling and the world is watching to see how the tariffs on Mexican and Canadian imports will affect consumers and the economy. In Canada, the reaction was swift. Businesses pulled American bourbon, wine and other imported spirits from store shelves along. Canada also threatened to turn off imported power that keeps the lights on and factories running in states like Michigan, Minnesota and New York. As well, Canadian Prime Minister, Justin Trudeau announced  immediate retaliatory measures. Trudeau said Canada will not back down from a fight in the face of "completely bogus and completely unjustified" trade action that has the potential to ruin bilateral relations and prompt job losses, economic devastation and higher inflation on both sides of the border. Trudeau has already slapped tariffs on an initial tranche of $30 billion worth of American goods and promised $125 billion more will face levies in three weeks' time. He said more, non-tariff measures are coming if Trump doesn't immediately back down. Trudeau said Trump is doing something "very dumb" by attacking Canada like this, given there will be serious ramifications for American workers and consumers with higher prices on everything from food, car parts and fertilizers to pharmaceuticals and paper products.  March 04 - CBC News Meanwhile, there have been some indicators that President Trump may be willing to negotiate. President Donald Trump will “probably” announce tariff compromise deals with Canada and Mexico soon, Commerce Secretary Howard Lutnick said Tuesday. The potential agreements would likely involve scaling back at least part of Trump’s brand new 25% tariffs on imports from Mexico and Canada, he added. Lutnick’s comments came minutes after the U.S. stock market limped to a close for a second day of sharp declines, spurred at least in part by investors’ fears that Trump’s aggressive policies will ignite a crippling trade war. After his remarks, U.S. stock futures tied to all three major averages rose. The compromises with Canada and Mexico will likely be revealed as soon as Wednesday, Lutnick said on “Fox Business.” March 04- CNBC News There's a lot of speculation out there - and lingering questions: What key American industries will benefit, which ones will suffer? When and will consumers see price hikes at the stores? Will there be a lasting negative impact felt on the American economy? What does this mean for the USMCA that was currently in place? If you're a journalist covering tariffs and the trade war - then let us help. William J. Luther, Ph.D., is an associate professor of economics at Florida Atlantic University, director of the American Institute for Economic Research’s Sound Money Project, and an adjunct scholar with the Cato Institute’s Center for Monetary and Financial Alternatives William is available to speak with media. Simply click on his icon now to arrange an interview today

Space suit experiment lands on the moon

University of Delaware research made a moon landing on Sunday along with other experiments aboard the unmanned Blue Ghost spacecraft. These projects will help scientists better understand what it will take to successfully land humans on the moon, and could possibly pave the way for an extended stay. The experiment led by UD researcher Norman Wagner and his company STF Technologies, LLC, aims to determine how moon dust particles stick to different materials exposed to the moon’s environment. These particles, called regolith, are fine and very sharp, similar to volcanic rock or dust found on Earth. Prototype spacesuit materials made by UD and STF Technologies will be tested for their ability to repel this moon dust in experiments strapped outside a lunar lander designed to carry payloads to the moon’s surface. The UD spacesuit shell textiles are treated with multiple nanotechnologies, including shear thickening fluid, a revolutionary material co-developed by UD and STF Technologies that normally behaves like a liquid, but becomes a solid under impact, a useful feature when puncture resistance is a priority. The hope is that beyond puncture protection, the STF-infused spacesuit textiles will offer greater dust deterrence, increasing the material’s lifespan in space. Other RAC experiments will test materials for solar cells, optical systems, coatings and sensors. In other related work, the Wagner lab currently has experiments aboard the International Space Station (ISS) through a NASA collaboration to develop new construction materials for lunar exploration. These ISS experiments, part of a Materials International Space Station Experiment (MISSE) that launched last November, extend Wagner’s previous work on ways to make concrete in space, for such items as rocket landing pads, buildings, roads, habitats and other structures. More recent work in the Wagner lab by undergraduate researchers and doctoral students focuses on methods for curing 3D-printed materials in space, including using microwave technology. “Here we aren’t trying to get rid of the moon dust — we are trying to leverage it to create extraterrestrial cement through additive manufacturing on the moon,” said Wagner, Unidel Robert L. Pigford Chair in the Department of Chemical and Biomolecular Engineering. Contact mediarelations@udel.edu to set up an interview.

Impact of USAID Cuts

UPI news service interviewed Dr. Meena Bose for the article “Trump USAID cuts create vacuums of food, medical care for vulnerable populations.” The president’s effort to downsize government agencies makes good on one of his biggest campaign promises, according to Dr. Bose. While presidents have attempted to increase the efficacy of agencies in the past, the article says Trump’s approach is different. “This is kind of a hatchet approach to doing so but I think it has a certain appeal to the president’s constituencies,” Bose told UPI. “He’s getting things done, cutting through red tape.” Dr. Bose is a Hofstra University professor of political science, executive dean of the Public Policy and Public Service program, and director of the Kalikow Center for the Study of the American Presidency.

The Power of Refusal: Socially Conscious Boycotts and Corporate Accountability

In today's world, information travels faster than you can say "Google it!" This hyper-connectivity means companies are more exposed than ever when it comes to taking stances or actions on social issues, And a boycott can be a force to reckon with. With social media as their megaphone, these retail boycott campaigns can quickly capture global attention, asking consumers not to spend money in stores or online for a day or even an extended period of time. It's an increasingly common dilemma for corporations and their bottom line. Says David Primo, professor of political science and business administration at the University of Rochester: “Companies need to figure out what they will take positions on, what they won’t take positions on, and then stand firm. Holding your finger to the political winds is not an effective way to run a company in a polarized world.” ```

Understanding resource-backed financing: How countries leverage mineral wealth for economic growth

What exactly is resourced-backed financing and how does it relate to Ukraine-United States relations? That is what Blue and Gold Distinguished Professor of Energy and the Environment Saleem Ali has been investigating.   Resource-backed financing has emerged as a significant strategy for countries rich in natural resources to bolster economic growth. This financial model allows nations to leverage their mineral wealth by using future revenues or production of resources as collateral for obtaining loans or investments today. Ali can put this practice into context of a potential deal that is currently being negotiated between Ukraine and the U.S.  "The minerals deal could potentially be a win-win for Ukraine and the United States if the agreement is framed around a broader plan for reconstruction and infrastructure development," Ali recently said in an article for Forbes. A regular contributor to Forbes, Ali's expertise has also been featured in The Houston Chronicle, The Guardian and Bloomberg. He can be contacted to speak more on this topic by clicking on his profile. 

Villanova Professor Sees Costs and Benefits in Corporate and Federal Return-to-Office Mandates

In early February, federal agencies submitted plans in accordance with an executive order to initiate an estimated 1 million government employees’ full-time return to their duty stations. The departments’ actions are among the latest in a series of RTO moves enacted since the start of 2025. Notably, they follow policy changes by corporate giants Amazon, AT&T and JPMorgan, who in January began requiring five days of in-person work for select staffers, with justifications ranging from strengthening culture to improving performance. With more employers expected to require in-office work in the coming months, some predict that 2025 could be the “year of the RTO mandate.” But, given the arguments from those pushing for these policies, it’s worth asking: Are these return-to-office requirements truly justified? Do they actually improve communication, strengthen teams and boost productivity, as supporters claim? According to Kyoung Yong Kim, PhD, whose research focuses on telework, strategic human capital management and employee-organization relationships, the answer is complicated—and highly circumstantial. Dr. Kim says that, by gathering coworkers around the proverbial water cooler, RTO policies can in some cases facilitate dialogue, promote teambuilding and foster organizational success. Yet, in other instances, work-from-home (WFH) arrangements can significantly boost employee morale, efficiency and output. “In a recent paper, my colleague Ijeoma Ugwuanyi [a professor at Hong Kong Metropolitan University] and I examined how social distancing initiatives, which reduce interactions among people, impact working relationships,” says Dr. Kim. “We found that they can actually help improve negative ones, at least in employees’ minds.” Analyzing data collected on 105 working relationships among 43 full-time personnel at a South Korean healthcare company, Dr. Kim and Dr. Ugwuanyi discovered that, when afforded extended WFH privileges, colleagues previously at odds were given the space necessary to reassess their outlooks and improve their dynamics—especially when the individuals involved were viewed as competent and warm. As a result, these repaired relationships generally empowered more effective collaboration in the long run. Additionally, employees with positive in-person relationships maintained a solid rapport even when geographically apart. “These findings are particularly relevant as corporate and government workers increasingly return to their offices,” says Dr. Kim. “Managers need to remember that, according to the research, employees are willing to reset negative relationships they had previously. That said, returning to the office also offers a chance to strengthen relationships and make them more positive, which is crucial since team dynamics are a key determinant of team performance.” Per Dr. Kim, in order to best position themselves for success on the RTO front, organizations need to take a measured, sympathetic approach in facilitating their in-office policies, with an eye toward mitigating negativity. They need to remain cognizant of the logistical and interpersonal challenges that could emerge in the wake of a return, address their employees’ concerns in an attentive manner and foster a “supportive climate characterized by supportive behaviors.” It’s a situation that Dr. Kim says bears parallels—perhaps somewhat counterintuitively—to the mass shift to telework that occurred during the COVID-19 pandemic. As he found in his research on that phenomenon, employees responded best to changes in their working arrangements when organizational leaders and managers took the time to explain and actively discuss the reasoning behind them, especially in mission-driven terms. “Essentially, an important implication of the findings is that, to sustain employees’ positive attitudes and behaviors, it is crucial to frame these moves in a way that highlights how working in the office benefits both employees and the organization,” says Dr. Kim. In turn, RTO-focused organizations should recognize that their words and messages have a very real impact, particularly when scrutinized by workers who may not be happy about resuming their morning commutes. “Amazon, for instance, appears to be taking a thoughtful approach by emphasizing the value of collaboration with colleagues and the enrichment of organizational culture,” says Dr. Kim. “One potential drawback, however, lies in their message about the consequences of non-compliance, specifically that failure to adhere to the in-office policy could jeopardize employees’ chances of promotion. “A more positive framing, emphasizing how such policies support professional growth as well as employees’ well-being, could enhance favorable perceptions and work behaviors.” In the event organizations remain attuned to such situations—taking their employees’ perspectives into account, actively communicating their intentions and presenting clear value propositions—Dr. Kim thinks a year of the RTO mandate could potentially be a less daunting prospect. And maybe, with time, the transition back from Zoom to the boardroom could be a beneficial one.

3D-printed lung model helps researchers study aerosol deposition in the lungs

Treating respiratory diseases is challenging. Inhalable medicines depend on delivering particles to the right lung areas, which is complicated by factors like the drug, delivery method and patient variability, or even exposure to smoke or asbestos particles. University of Delaware researchers have developed an adaptable 3D lung model to address this issue by replicating realistic breathing maneuvers and offering personalized evaluation of aerosol therapeutics. “If it's something environmental and toxic that we're worried about, knowing how far and how deep in the lung it goes is important,” said Catherine Fromen, University of Delaware Centennial Associate Professor for Excellence in Research and Education in the Department of Chemical and Biomolecular Engineering. “If it's designing a better pharmaceutical drug for asthma or a respiratory disease, knowing exactly where the inhaled aerosol lands and how deep the medicine can penetrate will predict how well that works.”that can replicate realistic breathing maneuvers and offer personalized evaluation of aerosol therapeutics under various breathing conditions. Fromen and two UD alumni have submitted a patent application on the 3D lung model invention through UD’s Office of Economic Innovation and Partnerships (OEIP), the unit responsible for managing intellectual property at UD. In a paper published in the journal Device, Fromen and her team demonstrate how their new 3D lung model can advance understanding of how inhalable medications behave in the upper airways and deeper areas of the lung. This can provide a broader picture on how to predict the effectiveness of inhalable medications in models and computer simulations for different people or age groups. The researchers detail in the paper how they built the 3D structure and what they’ve learned so far. Valuable research tool The purpose of the lung is gas exchange. In practice, the lung is often approximated as the size of a tennis court that is exchanging oxygen and carbon dioxide with the bloodstream in our bodies. This is a huge surface area, and that function is critical — if your lungs go down, you're in trouble. Fromen described this branching lung architecture like a tree that starts with a trunk and branches out into smaller and smaller limbs, ranging in size from a few centimeters in the trachea to about 100 microns (roughly the combined width of two hairs on your head) in the lung’s farthest regions. These branches create a complex network that filters aerosols as they travel through the lung. Just as tree branches end in leaves, the lung’s branches culminate in delicate, leaf-like structures called alveoli, where gases are exchanged. “Those alveoli in the deeper airways make the surface area that provides this necessary gas exchange, so you don't want environmental things getting in there where they can damage these sensitive, finer structures,” said Fromen, who has a joint appointment in biomedical engineering. Mimicking the complex structure and function of the lung in a lab setting is inherently challenging. The UD-developed 3D lung model is unique in several ways. First, the model breathes in the same cyclic motion as an actual lung. That’s key, Fromen said. The model also contains lattice structures to represent the entire volume and surface area of a lung. These lattices, made possible through 3D printing, are a critical innovation, enabling precise design to mimic the lung's filtering processes without needing to recreate its full biological complexity. “There's nothing currently out there that has both of these features,” she explained. “This means that we can look at the entire dosage of an inhaled medicine. We can look at exposure over time, and we can capture what happens when you inhale the medication and where the medicine deposits, as well as what gets exhaled as you breathe.” The testing process Testing how far an aerosol or environmental particle travels inside the 3D lung model is a multi-step process. The exposure of the model to the aerosol only takes about five minutes, but the analysis is time-consuming. The researchers add fluorescent molecules to the solution being tested to track where the particles deposit inside the model’s 150 different parts. “We wash each part and rinse away everything that deposits. The fluorescence is just a molecule in the solution. When it deposits, we know the concentration of that, so, when we rinse it out, we can measure how much fluorescence was recovered,” Fromen said. This data allows them to create a heat map of where the aerosols deposit throughout the lung model’s airways, which then can be validated against benchmarked clinical data for where such aerosols would be expected to go in a human under similar conditions. The team’s current model matches a healthy person under sitting/breathing conditions for a single aerosol size, but Fromen’s team is working to ensure the model is versatile across a much broader range of conditions. “An asthma attack, exercise, cystic fibrosis, chronic obstructive pulmonary disorder (COPD) — all those things are going to really affect where aerosols deposit. We want to make sure our model can capture those differences,” Fromen said. The ability to examine disease features like airway narrowing or mucus buildup could lead to more personalized care, such as tailored medication doses or redesigned inhalers. Currently, inhaled medicines follow a one-size-fits-all approach, but the UD-developed model offers a tool to address these issues and understand why many inhaled medicines fail clinical trials.

Canada’s RRSP Program Has Too Many Jobs

Summary: Since its inception in 1957, the Registered Retirement Savings Plan (RRSP) has been a cornerstone of Canada’s retirement system. However, the RRSP has taken on roles far beyond its original mandate, notably through the Home Buyers’ Plan (HBP) and the Lifelong Learning Plan (LLP). Although these programs provide short-term benefits, they significantly damage the long-term health of Canadians' retirement savings. This article explores how these additional roles are sabotaging retirement savings, highlights statistics about the state of RRSPs today, and discusses the disastrous impact these trends will have on future retirees. While listening to a recent economic presentation by Don Drummond, TD Bank's Chief Economist at the Mortgage Professionals Canada conference, the following stat stood out to me: "Median RRSP savings are $146K (RRSPs have been in existence for 6 decades)" I was stunned by how low this value was. Even with a government pension, in today's economic climate, to achieve a successful retirement, we need more than $146K saved. This prompted me to explore how the average value of RRSPs in Canada could be so low after some of us have had as much as 60 years to save. The average senior aged 65 in Canada receives $18,197 per year from OAS and CPP. If qualified for GIS, they would receive another $15,186 annually, for a total of $33,338 annually. This isn't much income, especially for homeowners who must pay for property taxes, utilities, upkeep, and maintenance. How it All Began At inception, the RRSP was called a Registered Retirement Annuity and was created in 1957. At the time, Canadians could contribute up to 10% of their income to a maximum of $2,500 annually. The goal was to give all Canadians the same tax benefits as members of registered employer-sponsored pension plans. Benefits of the RRSP Plan 1. Tax-Deferral: Contributions to an RRSP are tax-deductible, which can reduce your tax bill. 2. Tax-Free Growth: Your savings grow tax-free while the money is in the plan. 3. Retroactive: You can carry forward any unused contribution room to future years. The Multitasking Disaster Studies show that people are dreadful at multitasking; the same is true of government programs. Here is where the program went wrong. In 1992, the Home Buyer’s Plan (HBP) was made more flexible, which allowed first-time homebuyers to withdraw RRSP funds to buy a house. Then, in 1999, the Lifelong Learning Plan (LPP) was introduced, which permitted withdrawals to pay for education. The Home Buyers' Plan (HBP) was not introduced in 1957 alongside the Registered Retirement Savings Plan (RRSP) creation. Instead, the HBP was introduced in 1992 as a federal initiative to help Canadians buy their first homes by allowing them to withdraw funds from their RRSPs without tax penalties as long as they met specific conditions. Here's a timeline of crucial HBP withdrawal limits since its inception: Timeline of HBP and LLP Withdrawal Limits: 1992 - Introduction of the HBP • Maximum Withdrawal Limit: $20,000 per individual. • Purpose: To help first-time homebuyers purchase or build a home. 1999 – Introduction of Lifelong Learning Plan (LLP) • The annual withdrawal limit is $10,000 per individual • The lifetime withdrawal maximum is $20,000 per individual 2009 - First HBP increase • New Limit: $25,000 per individual. • The increase was introduced as part of federal budget changes to reflect rising housing costs. 2019 - Second HBP Increase • New Limit: $35,000 per individual. • Announced in the 2019 federal budget to support affordability for first-time homebuyers. 2019 -HBP Enhancement for Life Events • The HBP was expanded to allow individuals experiencing a marriage or common-law partnership breakdown to participate, even if they were not first-time homebuyers. 2024 - Recent increase • New Limit: $60,000 per individual. • The increase was introduced as part of federal budget changes to reflect rising costs. A Flawed Strategy The Home Buyers' Plan (HBP) and Lifelong Learning Plan (LLP) were introduced in Canada as tools to make housing and education more accessible. While well-intentioned, these programs effectively allow individuals to borrow from their future retirement savings—a strategy that can have significant negative consequences. Ask any high school economics student, and they will tell you that compromising two of the three main elements (principle and time) in investing growth will lead to a disappointing return. Here is the formula: principle X interest + time = compounded return. Are We Borrowing From the Future to Pay for Today? The Problem with the Home Buyers’ Plan (HBP): Addressing Housing Affordability at the Expense of Retirement The HBP permits individuals to withdraw up to $60,000 from their RRSP to buy a first home. In an environment of rising house prices, this measure may help buyers cobble together a down payment, but it drains retirement funds. The funds are unavailable to grow tax-free over decades, diminishing the compounding returns essential for retirement security. The Problem with the Lifelong Learning Plan (LLP): Financing Education by Sacrificing Retirement The LLP allows up to $20,000 in RRSP withdrawals to fund education, which can help individuals upskill. However, education often doesn’t yield immediate returns, and the withdrawn funds lose their growth potential, including the compounded returns. Why This Harms Future Retirees Issue #1: Loss of Compounding Growth Withdrawals disrupt the power of compounding, which is vital for retirement savings. For example, $35,000 left in an RRSP for 25 years at a 6% annual return could grow to over $150,000. If that same $35,000 were withdrawn 15 years ago and repaid over the same period as required by the HBP program, it would be worth $54,311, a loss of $95,689 Issue #2: Repayment Struggles While repayments are required, life’s expenses (mortgage, childcare, loans) often make it hard to repay on schedule. Failure to repay means the amount withdrawn is added to taxable income, further reducing the effectiveness of the programs. Issue #3: Insufficient Savings Most Canadians are already under-saving for retirement. Encouraging them to dip into their RRSPs exacerbates this shortfall. Two Different Problems.  One Harmful Solution Housing Affordability Rising house prices are driven by supply-demand imbalances, speculation, and policy failures—not a lack of down payments. Increasing the HBP withdrawal limit does nothing to address the root causes of affordability, but it may drive prices higher by giving buyers more purchasing power. Retirement Security Retirement savings should be preserved and grown to ensure financial stability in later years. Programs like HBP and LLP blur the line between short-term needs and long-term planning. Why Would our Government Do This? Political Expediency Housing affordability and access to education are politically sensitive issues. Allowing individuals to tap into their RRSPs is a cost-neutral policy for the government (unlike direct subsidies or programs). Policies like these help politicians get elected or stay in office. And in proper political form, these policies only tell half the story. Vote for us because we will help you buy your first home, which is a great campaign strategy. Vote for us because we will make it look like we help you buy your first home when, in fact, we will set up a program that will allow you to borrow from yourself at the cost of your retirement, which is political suicide. Short-Sighted Economic Policies Policymakers may believe that homeowners and educated individuals are more financially secure, even if their retirement savings are compromised. The logic might be that owning a home or having better job prospects could mitigate future hardship. Assuming Home Equity is a Safety Net The government might assume that homeownership ensures financial stability in retirement. However, this overlooks that rising housing costs often mean seniors have high debt levels or are "house rich but cash poor." The Bigger Problem with the HBP and LLP Programs: No Warnings or Education Given to Canadians Neither the HBP nor the LLP adequately informs individuals of the long-term consequences of their decisions. To make matters worse, the participants of these programs will likely realize the impact once it is too late to take action. People considering retirement are often in their late 50s to early 60s, past their prime saving years. Borrowing from retirement accounts may seem like “borrowing from yourself,” but this lost growth can never be recouped. Many Canadians are not well enough informed to assess these trade-offs, leading to decisions that harm their financial future. In Case You’re Thinking, These Seniors Have Inadequate Savings - But at They At Least their Homes. The HBP and LLP programs may reflect a government view that seniors would be better off owning a home than relying solely on inadequate savings. But this is flawed for a number of reasons: A home is not a liquid asset—it cannot pay for groceries or healthcare. Also,  Seniors with insufficient retirement savings often need help with financial distress despite owning property. They sometimes need reverse mortgages or sell their homes out of desperation. An Unfortunate Misguided Solution Rather than “quick fixes” that appear to solve immediate challenges while creating long-term problems, the Federal government should instead focus on longer-term, systemic solutions For housing: Governments need to curb speculative investments and provide targeted assistance for first-time buyers. Plus they need to focus on programs that increase housing supply, such as income tax incentives for homeowners to build accessory dwelling units (ADUs). These units could be rented out or used for caregivers. Or adopt a policy allowing first-time home buyers to not pay tax on their first $250,000 of income. First-time home buyers could use the tax savings as a down payment. For Education: Governments need to expand grant programs and low-interest loans to prevent reliance on retirement funds.  This will not only help us increase the number of skilled workers to fill critical gaps in vital sectors such as technology, healthcare engineering and the trades.  It will also contribute to a higher GDP and build a more sustainable tax base for future generations. Encouraging Canadians to steal from their future is not a sustainable strategy. Retirement savings should be viewed as sacred - not a piggy bank for solving unrelated issues. Don’t Retire … Re-Wire! Sue