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A Plan to Protect Ontario
Source: Ontario - Ministry of Finance
Date: 2026-10-29 18:10:00.0
Tags: [Ontario, Economy, Taxation, Finance, Trade, Industry]Ontario Minister of Finance Peter Bethlenfalvy released the 2026 Ontario Economic and Fiscal Review: A Plan to Protect Ontario, projecting a deficit of $16.9 billion in 2026-27 and a return to a balanced budget in 2029-30. The fiscal plan features an $8 billion Ontario Competitiveness Tax Cut tied to the federal Productivity Mega Deduction, an $8.7 billion Canada-Ontario action plan targeting the steel, automotive, and critical minerals sectors, and nearly $30 billion in cumulative tariff relief and business supports implemented since April 2025. Additionally, the government committed to streamlining 35 to 50 percent of the province's 375 business-facing permits by the end of 2028 and restoring capital expenditures as eligible under the Ontario Research and Development Tax Credit and Ontario Innovation Tax Credit to provide over $50 million in tax support over three years.
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Budget 2026 title and theme focus on Canada’s sovereignty, minister reveals
Source: Global News Politics
Date: 2026-10-29 15:00:05.0
Tags: [National, Finance, Economy, Trade, Seniors, Governance]National Revenue Minister François-Philippe Champagne announced that the federal government will table Budget 2026 on November 5, 2026, under the title and theme "MASTERS OF OUR DESTINY: BUDGET 2026" (inspired by Jean Lesage's 1962 Quebec slogan "Maîtres chez nous"). Prime Minister Mark Carney's government designed the upcoming budget to address a period of profound change and uncertainty involving redefined trade relationships, U.S. tariffs, trade tensions, and geopolitical conflicts threatening Canadian sovereignty and economic resilience.
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Province Announces $8 Billion Ontario Competitiveness Tax Cut to Support Investment and Create 30,000 Jobs
Source: Ontario - Ministry of Finance
Date: 2026-10-28 14:08:00.0
Tags: [Ontario, Taxation, Economy, Finance, Trade, Industry]The Ontario Ministry of Finance announced the $8 billion Ontario Competitiveness Tax Cut as part of its multi-year Tax Action Plan to counter U.S. tariffs and lower business investment costs. Administered as the provincial counterpart to the federal Productivity Mega Deduction, the policy allows eligible businesses to immediately write off 100 per cent of capital investments in assets such as fibre-optic cables, software, aircraft, machinery, and patents. The measure is projected to drive at least $11 billion in new capital investment, add $6 billion to the provincial GDP, and support the creation of 30,000 new jobs over five years. Combined with prior initiatives from Budget 2026, total business tax relief will exceed $12 billion over five years, reducing Ontario's Marginal Effective Tax Rate to 3.6 per cent.
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Bank of Canada raises key interest rate to 2.5% in its first hike since 2023
Source: CBC Politics
Date: 2026-10-28 12:33:56.0
Tags: [National, Economy, Finance, Trade, Affordability]The Bank of Canada, led by Governor Tiff Macklem, raised its benchmark overnight interest rate by 25 basis points to 2.5 per cent, marking its first rate hike since 2023. The central bank stated that the increase is necessary to curb persistent inflation—projected to remain above 3 per cent through much of 2027—which is driven largely by surging energy prices from the Middle East conflict and rising trade tensions with the United States. Policymakers warned that further rate hikes could occur depending on future economic uncertainties and cost pressures.
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Canada’s federal budget date revealed as trade war continues to bite
Source: Global News Politics
Date: 2026-10-20 18:55:54.0
Tags: [National, Economy, Finance, Trade]Finance Minister Francois-Philippe Champagne announced that Prime Minister Mark Carney's second federal budget will be released on November 5, 2026, shifting the delivery schedule from spring to fall. The budget release follows a downward revision by the Parliamentary Budget Officer, projecting a gross domestic product growth of 0.9 per cent for 2026 and 1.5 per cent for 2027. Additionally, the PBO projected a budgetary deficit of $63.3 billion for the 2026-27 fiscal year, peaking at $70.2 billion the following year. These fiscal pressures come amid ongoing bilateral trade tensions involving U.S. President Donald Trump's enactment of 50 per cent tariffs on Canadian goods and Canada's retaliatory counter-tariffs.
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Liberal government to table budget on Nov. 5
Source: CBC Politics
Date: 2026-10-20 18:50:43.0
Tags: [National, Economy, Finance, Trade, Governance]Federal Finance Minister François-Philippe Champagne announced that the Liberal government under Prime Minister Mark Carney will table its federal budget on November 5, marking the second consecutive fall fiscal plan. The upcoming budget follows a spring economic update that projected a $65-billion deficit for the current fiscal year and comes amid a revised Parliamentary Budget Office outlook forecasting real GDP growth of 0.9 per cent for the year and a budgetary deficit peaking at $70.2 billion in 2027-28. The economic landscape is further defined by collapse in Canada-U.S. trade talks, reciprocal tariff implementations, and an annual inflation rate rising to 3.1 per cent in September primarily driven by fuel prices.
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Budget watchdog trims economic forecast for 2026 and 2027 amid new U.S. tariffs
Source: CBC Politics
Date: 2026-10-20 16:30:17.0
Tags: [National, Economy, Trade, Finance]Following the breakdown of Canada-U.S. trade talks in late August and the subsequent implementation of U.S. tariffs and Canadian counter-tariffs, Parliamentary Budget Officer Annette Ryan released a revised economic and fiscal outlook. The Parliamentary Budget Office (PBO) reduced its real gross domestic product growth forecast to 0.9 per cent for 2026 and 1.5 per cent for 2027, down from June projections of 1.1 per cent and 1.6 per cent respectively. Additionally, the federal budgetary deficit is now projected at $63.3 billion for the 2026-27 fiscal year, peaking at $70.2 billion in 2027-28, with deficits running $3 billion higher per year on average due to new spending measures offsetting revenues. The PBO also projects that the annual inflation rate will average 2.8 per cent in 2026 before easing to 2.4 per cent in 2027, while anticipating that the Bank of Canada will raise its policy rate to 2.75 per cent by mid-2027.
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Nova Scotia selling off remaining U.S. booze inventory, liquor profits dip
Source: Nova Scotia - Halifax & Regional News
Date: 2026-09-23 19:16:09.0
Tags: [Nova Scotia, Trade, Economy, Finance]The Nova Scotia Liquor Corp. reported a 6.8 percent decrease in net income to $62 million for the first quarter, with total sales reaching $219.4 million between April 1 and June 28. Beverage alcohol sales declined by 1.7 percent, while cannabis sales increased by 11.2 percent. The provincial government previously directed the Nova Scotia Liquor Corp. to remove all U.S. alcohol from shelves in response to U.S. tariffs under President Donald Trump, leading to a sell-off of an inventory valued at approximately $14 million. During the first quarter, the Nova Scotia Liquor Corp. sold more than $1.8 million in American products, leaving an estimated remaining U.S. inventory of $1.5 million as of August 17.
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Head of European Investment Bank eyes Canada opportunities as Carney pushes EU ties
Source: CBC Politics
Date: 2026-09-20 17:22:05.0
Tags: [National, Finance, Trade, Economy, Energy, Mining]European Investment Bank President Nadia Calviño stated that the bank is exploring a framework agreement to finance Canadian projects, targeting critical minerals, new technologies, and green energy generation amid Prime Minister Mark Carney's push for deeper European Union ties. While U.S. President Donald Trump criticized the closer Canada-EU alignment and threatened tariffs, Canadian officials confirmed Canada will not pay directly into the 27-nation EU budget under the proposed associate membership framework. The initiative follows Carney's Canada Investment Summit, which federal officials report attracted nearly $500 billion in new investment into Canadian businesses and infrastructure.
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'Momentous decision': Alberta separation could cost up to $170 billion, says U of C report
Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-09-16 17:30:44.0
Tags: [Alberta, Economy, Finance, Governance, Taxation, Trade]A government-commissioned report from the University of Calgary School of Public Policy estimates that establishing an independent Alberta would cost between $50 billion and $170 billion in the first five years following separation. Under a 'smooth' secession scenario, the report projects Alberta would add nearly $210 billion in debt—largely from its share of Canada's national debt—along with short-term GDP contraction and initial per-capita tax increases of over $800. Under a 'difficult' scenario involving adversarial negotiations, Alberta's total debt could approach $442 billion (making up nearly 90 per cent of its GDP) with per-capita wage losses reaching $5,500 and short-term tax increases of $5,400 over the first five years. The findings precede an October 19 vote regarding whether the province should further pursue separation, as overseen by Finance Minister Jason Nixon's office and a five-member advisory panel.
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Wholesale Trade Stands Strong in Saskatchewan
Source: Saskatchewan - Government News
Date: 2026-09-15 23:00:00.0
Tags: [Saskatchewan, Economy, Trade, Industry, Finance]According to Statistics Canada figures reported by the Government of Saskatchewan, the province's wholesale trade increased by 17.9 per cent in July 2026 compared to July 2025, reaching a total value of $5.3 billion (excluding petroleum, hydrocarbons, oilseeds, and grain) and ranking second among Canadian provinces. Additionally, Saskatchewan's 2025 real GDP reached an all-time high of $85.4 billion, representing a 2.2 per cent increase that exceeded the national average of 1.7 per cent. Private capital investment in the province rose by 12 per cent last year to reach $13.6 billion, ranking first nationally, driven by the province's Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy.
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Carney government introduces mega-deduction tax measure to spur more investment
Source: CBC Politics
Date: 2026-09-15 19:41:51.0
Tags: [National, Taxation, Economy, Finance, Industry, Trade]Prime Minister Mark Carney's federal government announced the productivity mega-deduction tax measure at the Canada Investment Summit, expanding on last year's productivity super-deduction to cover two-thirds of assets. The program allows companies to expense the total cost of new investments across sectors including machinery, equipment, clean energy, and zero-emission vehicles immediately rather than over a project's lifetime. The policy change is projected to cost $36 billion over five years and is estimated to slash Canada's marginal effective tax rate from 13 per cent down to 6.4 per cent, making it the lowest in the G7 to improve tax competitiveness and retain investment during trade tensions.
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Carney delivers remarks at investment summit as Liberals discuss airport privatization
Source: CBC Politics
Date: 2026-09-15 12:31:10.0
Tags: [National, Ontario, Economy, Finance, Trade, Infrastructure, Transportation]Prime Minister Mark Carney hosted the Canada Investment Summit in Toronto to attract $1 trillion in investments over the next five years, featuring a 66-page prospectus containing 167 projects. During the summit, the Canada Pension Plan Investment Board and Brookfield Asset Management Ltd. announced a new $50 billion fund for large-scale investments structured on a 50-50 basis with up to $25 billion in equity capital from each organization. Additionally, Carney confirmed that the federal government is pursuing private investment and long-term concessions to operate Canada's four largest airports while keeping the underlying land and assets. These developments coincided with the implementation of new 50 per cent U.S. tariffs on select Canadian goods and protests organized by The Many vs. The Money coalition.
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'Cool to be Canadian': Leaders optimistic their pitch to invest here will pay off
Source: CBC Politics
Date: 2026-09-14 19:59:47.0
Tags: [National, Ontario, Economy, Taxation, Finance, Trade, Industry, Mining]Prime Minister Mark Carney hosted the Canada Investment Summit in Toronto to attract foreign capital and secure $1 trillion in investments amidst trade friction with the United States. Minister of Finance François-Philippe Champagne announced that the Canadian Revenue Agency will prioritize advanced income tax rulings for investments exceeding $1 billion to reduce regulatory risk. The government's 66-page pitchbook featured more than 160 major projects, including Canada Nickel Company's Crawford nickel project, which is seeking $2 billion in funding.
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Carney is seeking trillions in investment at this week's summit. What will it take to land major deals?
Source: CBC Politics
Date: 2026-09-14 08:00:00.0
Tags: [National, Economy, Finance, Trade, Infrastructure, Energy]Prime Minister Mark Carney is hosting the Canada Investment Summit in Toronto to secure up to $1 trillion in foreign direct investment across 167 major projects presented in a 66-page federal prospectus. The high-profile event brings together global financial leaders—including BlackRock Inc. chairman Larry Fink, Temasek CEO Dilhan Pillay, and representatives from sovereign wealth funds like Norway's government pension fund and Abu Dhabi National Oil Co.—to counter pressures from an escalating Canada-U.S. trade war. The projects span eight critical sectors, led by significant developments such as a proposed $35-billion oil pipeline from Alberta to British Columbia, a roughly $79-billion expansion of the Port of Churchill in Manitoba, and the $28.5-billion Ksi Lisims liquid natural gas terminal on the B.C. coast. While economic think tanks like the C.D. Howe Institute and financial institutions like TD Bank project a potential investment supercycle that could boost real output per capita, the initiative faces domestic political criticism regarding national sovereignty and foreign ownership of strategic resources.
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Ontario Expanding Eligibility for Tariff Support Programs
Source: Ontario - Ministry of Economic Development, Job Creation and Trade
Date: 2026-09-10 13:30:00.0
Tags: [Ontario, Trade, Economy, Finance, Industry]In response to United States trade actions targeting Canadian exports, the Government of Ontario is expanding eligibility under the Protect Ontario Financing Program (POFP) and the Ontario Together Trade Fund (OTTF) to protect workers and businesses in tariff-impacted sectors. The expansion covers specific exports facing additional 50 per cent tariffs starting September 15, 2026—including certain steel, aluminum, and metal products, mattresses, furniture, paper products, motorboats, golf carts, dairy and specialty cheese products, and leather goods—as well as import bans taking effect September 29, 2026, targeting alcoholic beverages, specific whey products, and motorcycles with engine capacities exceeding 800cc.
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Ontario Expanding Eligibility for Tariff Support Programs
Source: Ontario - Ministry of Economic Development, Job Creation and Trade
Date: 2026-09-10 13:30:00.0
Tags: [Ontario, Trade, Economy, Finance, Industry, Labour]In response to United States tariff actions set for September 15 and September 29, 2026, the Ontario government announced the expansion of eligibility for the $1 billion Protect Ontario Financing Program (POFP) and the $150 million Ontario Together Trade Fund (OTTF). Administered by the Ministry of Economic Development, Job Creation and Trade alongside the Ministry of Finance, the expanded programs provide loans and grants for payroll, lease payments, utilities, and supply chain reshoring to shield tariff-impacted businesses and workers. Furthermore, the provincial government highlighted broader economic strategies, including the $236 billion infrastructure plan, development of the Ring of Fire road network (such as the Marten Falls Community Access Road, Webequie Supply Road, and Anaconda and Painter Lake Roads), and nuclear energy expansions encompassing the Darlington, Pickering, and Bruce Nuclear Generating Stations, the Wesleyville site in Port Hope, and the G7's first small modular reactor.
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Trump trade rep says U.S. may impose more tariffs today, as Ottawa's counter-tariffs take effect
Source: CBC Politics
Date: 2026-09-08 11:27:19.0
Tags: [National, Trade, Economy, Industry, Finance]Canada implemented dollar-for-dollar counter-tariffs ranging from 15 to 50 percent targeting $27.6 billion worth of American imports, while the United States considers further retaliatory tariffs. U.S. Trade Representative Jamieson Greer signaled potential U.S. actions, and U.S. President Donald Trump criticized Montreal-based Bombardier over manufacturing locations. Prime Minister Mark Carney defended the pivot away from the U.S. as costly but necessary, alongside federal support packages including a $7.5 billion worker and business assistance initiative and the $2 billion Canada Strong Diversification Fund.
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No talks scheduled as Canada's counter-tariffs against U.S. set to take effect at 12:01 a.m.
Source: CBC Politics
Date: 2026-09-07 15:23:27.0
Tags: [National, Trade, Economy, Industry, Finance]Canada is implementing counter-tariffs ranging from 15 to 50 percent on $27.6 billion worth of American goods targeting over 700 U.S. products, including steel, dairy, and wood products, with no last-minute talks scheduled between Prime Minister Mark Carney and U.S. President Donald Trump ahead of the 12:01 a.m. deadline. The retaliatory measures follow the collapse of trade talks and U.S. President Donald Trump's imposition of 50 percent tariffs on Canadian goods. To help workers and businesses weather the trade escalation, the federal government is rolling out a $7.5 billion support package in addition to nearly $25 billion in tariff aid implemented over the past 18 months.
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America 'not at war' with Canada, insists U.S. Treasury Secretary Scott Bessent
Source: CBC Politics
Date: 2026-08-31 18:00:16.0
Tags: [National, Trade, Economy, Finance, Defence]United States Treasury Secretary Scott Bessent dismissed claims of a trade war with Canada during an interview with CNBC, criticizing Prime Minister Mark Carney for walking away from a trade deal and imposing 50 percent retaliatory tariffs on roughly $28 billion worth of Canadian exports. The U.S. previously imposed these tariffs after trade negotiations collapsed due to disputes over auto industry terms, restrictions on foreign trade deals, and protections for French-language media and bilingual product labelling. Finance Minister François-Philippe Champagne is scheduled to meet with Bessent and G20 counterparts in Asheville, North Carolina, while provincial leaders including Alberta Premier Danielle Smith have voiced concerns that the ongoing tariff escalations will harm small businesses and regional economies.
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