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Economy, Law & Politics

Federal government posts $14.5-billion deficit for April-to-October period

Federal government posts $14.5-billion deficit for April-to-October period

OTTAWA — The Finance Department says the federal deficit was $14.5 billion between April and October. That compares to a $15.1 billion deficit over the same period last year. According to the monthly fiscal monitor, revenues were up $26.
Rob Shaw: B.C. housing minister's threats put municipal autonomy to the test

Rob Shaw: B.C. housing minister's threats put municipal autonomy to the test

Municipalities pushing back against province’s housing policy
Temporary GST tax holiday taxes patience of business

Temporary GST tax holiday taxes patience of business

Two-month tax holiday saves customers pennies
Insolvency wave hit B.C. firms hard in 2024 amid economic squeeze

Insolvency wave hit B.C. firms hard in 2024 amid economic squeeze

Inflation, elevated interest rates, market disruptions drove business failures in key sectors
MPs Bendayan, Duguid, Fisher to join Trudeau cabinet in shuffle Friday

MPs Bendayan, Duguid, Fisher to join Trudeau cabinet in shuffle Friday

OTTAWA — Prime Minister Justin Trudeau is set to add multiple new names to his cabinet Friday when he shuffles his team days after Chrystia Freeland rattled the party and the government with her sudden resignation as finance minister.
LeBlanc says it's not the government's job to respond to everything Trump posts

LeBlanc says it's not the government's job to respond to everything Trump posts

OTTAWA — Finance Minister Dominic LeBlanc says it's not the Liberal government's job to respond to everything U.S. president-elect Donald Trump posts online.
S&P/TSX suffers triple-digit losses; loonie also slides while U.S. markets rise

S&P/TSX suffers triple-digit losses; loonie also slides while U.S. markets rise

TORONTO — Canada's main stock index slumped again on Thursday, dragged lower by losses in sectors like industrials and real estate, while U.S. markets rose a day after one of their worst declines of the year.
Ottawa has yet to pass the law to raise the capital gains tax. What it means for your 2024 taxes

Ottawa has yet to pass the law to raise the capital gains tax. What it means for your 2024 taxes

The federal government said the tax hike would take effect on June 25, 2024, but political turmoil in Parliament has prevented it from passing the legislation introducing the change
Stock market today: Wall Street ends little changed after giving up a big morning gain

Stock market today: Wall Street ends little changed after giving up a big morning gain

NEW YORK (AP) — An early rebound for U.S. stocks petered out by the end of the day, leaving indexes close to flat. The S&P 500 edged down by 0.
U.S. tariffs potentially devastating for Canadian businesses: CME poll

U.S. tariffs potentially devastating for Canadian businesses: CME poll

OTTAWA — The tariffs threatened by U.S. president-elect Donald Trump could be potentially devastating for Canadian businesses and workers, said a new survey by lobby group Canadian Manufacturers and Exporters.
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