Canada needs a ‘good mix’ of new tech like drones, AI: NATO commander

This article is new today!

Source: Global News Politics
Date: 2026-10-30 18:50:51.0
Tags: [National, Defence, Technology, Finance]

As Canada prepares to detail its defence spending plans in the upcoming federal budget to meet NATO's 2% GDP target this year and a 5% GDP target by 2035, senior NATO officials emphasize integrating a mix of advanced technologies like AI targeting and drones. Admiral Pierre Vandier, NATO's Supreme Allied Commander Transformation, noted during exercises in Latvia involving Canadian Armed Forces personnel from Operation Reassurance that unmanned systems enhance the lethality and survivability of traditional military assets. The Department of National Defence recently launched the Defence Drone Initiative (DDI) to supply new drone tech to the Canadian Armed Forces and Canadian Coast Guard while bolstering domestic manufacturing. Meanwhile, Parliamentary Budget Office analysis indicates core defence spending would need to scale significantly from $95.7 billion in 2030 to $163.7 billion in 2035–36 to meet long-term alliance commitments.

C-31 (45-1) - Budget 2025 Implementation Act, No. 2

This article is new today!

Source: Parliament of Canada (LEGISinfo)
Date: 2026-10-30 12:26:14.0
Tags: [National, Finance, Taxation, Economy, Governance]

Bill C-31 (45th Parliament, 1st Session), titled the Budget 2025 Implementation Act, No. 2 and sponsored by Minister of Finance and National Revenue, has advanced to the report stage in the House of Commons following committee review by the Standing Committee on Finance, which presented its report with amendments on October 30, 2026. The legislation implements provisions stemming from the federal budget tabled on November 4, 2025, and the 2026 Spring Economic Update titled 'Canada Strong For All'. The Senate has concurrently authorized pre-study of the bill's subject matter across multiple standing committees, including the Standing Senate Committee on National Finance and specialized sectoral committees assigned to specific divisions of Part 4 of the bill.

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.

Canada Dental Care Plan working but costing more than expected: auditor general

Source: CBC Politics
Date: 2026-10-29 14:50:35.0
Tags: [National, Healthcare, Affordability, Finance, Social Services]

A report by Auditor General Karen Hogan found that Health Canada's Canadian Dental Care Plan exceeded its initial budget commitments by $1.1 billion during the 2024–25 and 2025–26 fiscal years, with an anticipated further shortfall of $2.4 billion by 2032 due to higher-than-anticipated claim payments per member. While the program successfully reduced average household out-of-pocket dental expenses from $536 in 2023 to $264 for users, the audit revealed persistent public confusion, with 560,000 members (16 per cent of those accessing services in 2025) receiving full coverage, while dental providers spent roughly an hour a day addressing coverage ambiguities and call centres struggled to meet quality metrics. In response, Health Canada engaged the Office of the Chief Actuary to provide quarterly actuarial forecasts to improve claim payment projections and financial planning.

Financial intelligence agency slow to provide police with info to curb money laundering: AG

Source: CBC Politics
Date: 2026-10-29 14:19:17.0
Tags: [National, Finance, Public Safety, Justice, Governance]

A federal auditor general report tabled in the House of Commons reveals that the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) takes an average of about four months to provide financial intelligence to law enforcement agencies. Half of the surveyed police and law enforcement respondents reported receiving FINTRAC intelligence too late to be useful for freezing assets, intercepting transactions, or apprehending suspects. The auditor general concluded that inadequate tools and processing delays hinder FINTRAC from effectively carrying out its mandate to detect and deter money laundering and terrorist financing.

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.

First Nations-first ministers' meeting brings funding announcements and mixed reviews

Source: CBC Politics
Date: 2026-10-26 22:37:54.0
Tags: [National, Indigenous, Finance, Infrastructure, Emergency, Governance]

Prime Minister Mark Carney convened the first Indigenous-focused first ministers' meeting in over two decades in Ottawa alongside the Assembly of First Nations, led by National Chief Cindy Woodhouse Nepinak. Carney announced proposed federal funding ahead of the Nov. 5 budget, including more than $2.5 billion over five years for emergency preparedness in First Nations communities and more than $630 million over four years for First Nations and Inuit policing. Additionally, Carney committed to exploring the reform or abolition of the 1876 Indian Act and instructed his finance minister to collaborate with First Nations on new revenue-sharing mechanisms, such as a potential sovereign wealth fund.

U.K. opts against joining Canada-led defence bank, pledges co-operation

Source: CBC Politics
Date: 2026-10-26 14:03:56.0
Tags: [National, Defence, Finance, Trade]

The British government has declined Ottawa's invitation to join the Canada-led international Defence, Security and Resilience Bank (DSRB), choosing instead to pursue its own Multilateral Defence Mechanism. Despite differing institutional paths, both countries agreed to establish a cooperation framework to coordinate investment opportunities and work together to meet NATO spending targets. The DSRB, which is headquartered in Canada and aims to lower military borrowing costs through pooled credit, currently retains the support of nations including Belgium, Turkey, and Ukraine.

Canada Post CEO touts ‘early signs’ of recovery even as financial woes persist

Source: Global News Politics
Date: 2026-10-22 21:45:13.0
Tags: [National, Economy, Finance, Labour, Transportation]

Canada Post CEO Doug Ettinger announced early signs of financial recovery at the Crown corporation's annual public meeting, citing a reduced pre-tax loss of $277 million in the second quarter of the year compared to $407 million the previous year. To address structural challenges, Canada Post is phasing out door-to-door delivery for four million addresses over five years in favor of community mailboxes—targeting 700,000 households by the end of 2027—and launching a direct-to-consumer online marketplace named Canada Shops. These operational overhauls follow the federal government's adoption of recommendations from an Industrial Inquiry Commission led by William Kaplan, which lifted a moratorium on new community mailboxes and rural post office closures.

Canada Post starting weekend parcel delivery in Toronto, Montreal and Ottawa this fall

Source: CBC Politics
Date: 2026-10-22 19:44:37.0
Tags: [National, Ontario, Quebec, British Columbia, Alberta, Labour, Transportation, Finance]

Canada Post has launched weekend parcel delivery in Ottawa and Montreal, with plans to expand to Toronto in late November 2026 and to Vancouver, Edmonton, and Calgary the following year, aiming to reach seven million households by the end of 2027. The Crown corporation reported a pre-tax loss of $482 million in the first half of 2026 and continues to rely on federal loans, though parcel revenue grew by 20.7 percent year-over-year in the second quarter. This operational restructuring follows a month-long national strike in December 2024 and the signing of a new collective agreement with the Canadian Union of Postal Workers (CUPW) that remains in effect until 2030.

N.W.T. finance minister says no emergency relief from fuel price shock, but pushes Ottawa for support

Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-21 10:00:00.0
Tags: [National, Finance, Energy, Taxation, Affordability]

Northwest Territories Finance Minister Caroline Wawzonek rejected calls from MLAs to slash the territorial gas and diesel tax—which generates an estimated $15 million annually—or provide immediate emergency heating fuel subsidies ahead of winter. Testifying before the federal standing committee on Indigenous and Northern Affairs, Wawzonek criticized federal funding programs like the $2-billion heat pump initiative as unsuitable for northern climates and pressed Ottawa for customized support to address energy and affordability challenges where transport and heating costs are double the national average. She noted the territorial government already provides over $18 million in direct annual energy subsidies and warned that low water levels threatening the hydro system will force the territory to rely more heavily on costly diesel generation.

Carney government has no launch date planned for proposed sovereign wealth fund

Source: CBC Politics
Date: 2026-10-21 08:00:00.0
Tags: [National, Economy, Finance, Infrastructure, Industry, Governance]

Nearly six months after Prime Minister Mark Carney announced plans to create the Canada Strong Fund—a proposed national sovereign wealth fund backed by $25 billion in seed funding over three years—the federal government has yet to establish a launch date or finalize its operational details. Administered as an arm's-length Crown corporation, the fund is intended to invest domestically in energy, infrastructure, agriculture, and technology alongside private investors, while introducing a retail investment product for ordinary Canadians. Finance Minister François-Philippe Champagne's office indicated that a significant update, including leadership announcements and mandate reviews to prevent overlap with existing entities like the Canada Growth Fund and Canada Infrastructure Bank, will be provided in the upcoming fall budget.

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.

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.

S-217 (45-1) - Fairness for All Canadian Taxpayers Act (measuring the tax gap to fight international tax evasion)

Source: Parliament of Canada (LEGISinfo)
Date: 2026-10-20 18:20:18.0
Tags: [National, Taxation, Finance, Governance]

Bill S-217, titled the Fairness for All Canadian Taxpayers Act (measuring the tax gap to fight international tax evasion), is a Senate Public Bill introduced by Senator Percy E. Downe to amend the Canada Revenue Agency Act regarding reporting on unpaid income tax. After completing its stages in the Senate, the bill crossed over to the House of Commons where it achieved second reading and was referred to the Standing Committee on Finance (FINA) on October 20, 2026. The legislation builds upon similar previously introduced bills, such as S-258 from the 44th Parliament and S-243 from the 42nd Parliament, aimed at improving fiscal transparency around Canada's tax gap.

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.

Feds agree to more than double Yukon gov’t borrowing limit to $3B

Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-19 19:29:03.0
Tags: [National, Finance, Governance, Economy]

The federal government has agreed via an order-in-council dated October 9 to more than double the Yukon government's borrowing limit from $1.2 billion to $3 billion. The territory's previous debt cap was nearing its limit, with the territorial budget estimating the Yukon was only about $32 million away from the threshold. Yukon Premier and Finance Minister Currie Dixon had previously stated he would consider resigning if his government breached its debt limit.

He followed a debunked conspiracy theory to claim a tax refund. So why did the CRA agree to a $40M payout?

Source: CBC Politics
Date: 2026-10-16 08:00:00.0
Tags: [National, Ontario, British Columbia, Taxation, Finance, Public Safety]

An investigative report by CBC's the fifth estate revealed that individuals following "sovereign citizen" conspiracy theories have successfully defrauded the Canada Revenue Agency (CRA) of millions of dollars in bogus tax refunds due to severe gaps in fraud detection systems. In the summer of 2023, ironworker Jonathon Pearce of Temiskaming Shores, Ontario, filed false tax returns claiming more than $40 million, resulting in the CRA depositing over $10 million into his personal bank account despite internal red flags and a pre-refund phone call where he outlined his anti-tax beliefs. Leaked internal records show nearly $300 million in bogus claims linked to the same tax scheme were identified between May 2023 and January 2024, prompting the CRA to launch criminal investigations and execute search warrants against promoters such as Bernard Yankson and Angela Albright Bowolin in British Columbia.

Market diversification added to focus of renewed Atlantic Fisheries Fund

Source: Prince Edward Island - Regional News
Date: 2026-10-15 20:43:09.0
Tags: [National, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Trade, Fisheries, Industry, Finance]

The federal government and the Atlantic provincial governments are replenishing the Atlantic Fisheries Fund with more than $300 million over the next five years, funded 60 per cent federally and 40 per cent provincially, in response to ongoing trade disputes and tariffs with the U.S. Federal Fisheries Minister Joanne Thompson announced that market diversification has been added as a new funding pillar alongside innovation, infrastructure, and science partnerships to assist harvesters and processors such as Cooke Inc., the P.E.I. Fishermen’s Association, Scotia Harvest, and Icewater Seafoods in entering new international markets. Over the past nine years, the fund has previously distributed $370 million to more than 1,300 projects across Atlantic Canada.

In Unreliable Boyfriend, Chrystia Freeland details the rift between her and Trudeau

Source: CBC Politics
Date: 2026-10-15 08:00:00.0
Tags: [National, Governance, Finance, Trade]

In her book excerpts detailing her political tenure, former Deputy Prime Minister and Finance Minister Chrystia Freeland reveals the breakdown of her relationship with Prime Minister Justin Trudeau, culminating in her December 2024 resignation via a Zoom call. Freeland recounts key policy milestones and conflicts, including managing NAFTA and CUSMA trade negotiations with the United States, implementing retaliatory tariffs on steel and aluminum, and addressing over $12 billion in federal spending cuts. Following her resignation and subsequent departure as a Member of Parliament, Mark Carney assumed the role of Finance Minister and later became Prime Minister.