Business
Higher tobacco and vaping taxes offset drug plan spending in federal budget
By Laura Osman, The Canadian Press on April 16th, 2024
OTTAWA – The Liberals expect a new bid to curb smoking rates in the federal budget will generate $1.7 billion in new revenue for the government. The increased cash flow coincides with the launch of a new $1.5-billion drug plan to offer universal coverage for contraceptive and diabetes medications. Both programs were billed as new ... Read More »
Be the first to comment!$535B budget projects $39.8B deficit, aims to restore economic fairness
By Mia Rabson, The Canadian Press on April 16th, 2024
OTTAWA – The 2024 federal budget will provide “generational fairness” to younger Canadians by raising taxes on those who have already capitalized on Canada’s economic strengths, Finance Minister Chrystia Freeland said Tuesday as she tabled the document in the House of Commons. The budget comes as the Liberals have watched their once-healthy voting base among ... Read More »
Be the first to comment!Some of the winners and losers in the 2024 federal budget
By The Canadian Press on April 16th, 2024
OTTAWA – With a variety of fiscal and policy measures announced in the federal budget, here’s a look at some of the winners and losers: Winner: Small businesses Carbon tax rebates for small businesses are coming, five years after consumers began receiving their share. The measure is “a big relief,” says Dan Kelly of the ... Read More »
Be the first to comment!Liberals raise capital gains tax on wealthiest Canadians, firms to pay for agenda
By The Canadian Press on April 16th, 2024
OTTAWA – The Liberal government met all its fiscal goals in the federal budget today, including keeping the $40 billion deficit from rising, even as it introduced tens of billions in new spending. Finance Minister Chrystia Freeland is presenting the federal budget in the House of Commons today, which pledges $53 billion in new spending ... Read More »
Be the first to comment!QH EDITED $535B budget projects $39.8B deficit, aims to restore economic fairness
By The Canadian Press on April 16th, 2024
OTTAWA – Finance Minister Chrystia Freeland says this year’s federal budget will provide “generational fairness” to younger Canadians – by raising taxes on those who already benefited from Canada’s economic strengths. The economic blueprint introduced today projects spending of $535 billion this year, with a deficit of $39.8 billion. That compares to projected spending of ... Read More »
Be the first to comment!Some of the key highlights from the Liberal government’s 2024 federal budget
By The Canadian Press on April 16th, 2024
OTTAWA – Finance Minister Chrystia Freeland introduced the 2024 federal budget on Tuesday. Some key highlights: Housing In hopes of building nearly 3.9 million new homes across Canada by 2031, the government plans to: – increase the capital cost allowance rate for apartments from four to 10 per cent, allowing builders larger tax writeoffs; – ... Read More »
Be the first to comment!Price growth at restaurants outpacing grocery inflation as businesses struggle
By Rosa Saba, The Canadian Press on April 16th, 2024
Restaurant price inflation has been outpacing grocery inflation for months, a sign that business owners continue to grapple with higher costs, said Restaurants Canada. “When we started to see these initial inflationary pressures start to creep in, restaurateurs were a little nervous to start passing on those increases in costs to the guests,” said Kelly ... Read More »
Be the first to comment!Fed’s Powell: Elevated inflation will likely delay rate cuts this year
By Christopher Rugaber, The Associated Press on April 16th, 2024
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s ... Read More »
Be the first to comment!Fed’s Powell suggests that elevated inflation will likely delay rate cuts this year
By Christopher Rugaber, The Associated Press on April 16th, 2024
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year because “recent data have clearly not given us greater confidence” that price increases are under control. The most recent inflation reports “instead indicate that it’s likely to take longer than ... Read More »
Be the first to comment!Government documents confirm coal lobbying on Rockies mining, show months of planning
By The Canadian Press on April 16th, 2024
EDMONTON – Documents released under Alberta Freedom of Information laws confirm the United Conservative government was talking with the coal industry for years about relaxing a policy that protected the Rocky Mountains from open-pit mines. The documents also show the province was talking about opening those landscapes to more development generally for at least seven ... Read More »
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