Category Archives: Economy

Deficit on track to hit $330 billion with COVID effects lasting years, says PBO

OTTAWA — The parliamentary budget office says the federal deficit for the year is on track to hit $328.5 billion as a result of COVID-19. That figure released this morning reflects measures announced as of the start of the month, including

Recovery plan inspires confidence but Canadians like working from home for now: Poll

OTTAWA — A new poll suggests a slim majority of Canadians have some confidence that the federal government's economic recovery plan will strengthen the economy and create jobs after the devastating impact of the COVID-19 pandemic.But in the meantime, t...

Gateway Casino gets first federal loan for big employers, worth $200 million

OTTAWA — A federal program aimed at giving loans to some of the largest companies in the country is rolling the dice with $200 million to a casino chain. The loan is the first from what the government has dubbed the

Finance Department says federal deficit hit $148.6 billion through July

OTTAWA — The federal government ran a deficit of $148.6 billion during the first four months of its 2020-2021 fiscal year, the result of unprecedented spending in response to the COVID-19 pandemic. The result compared with a deficit of $1.6 billion

Liberals reach deal with NDP on COVID-19 aid bill, likely averting election

OTTAWA — The minority Liberal government has reached a deal with the New Democrats over legislation to support workers during the COVID-19 pandemic, securing the backing needed to survive a confidence vote on the throne speech.  NDP Leader Jagmeet...

Furloughed WestJet workers demand clarity on wage subsidy program amid pay cut

WestJet Airlines Ltd. is warning furloughed workers their pay will be cut by up to 53 per cent starting Sunday due to changes in the extended federal wage subsidy, prompting flight crews to call on Ottawa for action. The maximum weekly

Trudeau stresses vigilance, announces vaccine pact as COVID-19 cases reach 150,000

OTTAWA — Quebeckers were urged to stop socializing, Ontarians were barred from late-night pub-hopping, and the entire country was sternly warned of "critical" containment measures required in coming weeks as soaring COVID-19 case counts edged past 150,...

Yukon relief program for businesses hurt by COVID-19 extends through to March

WHITEHORSE — Yukon's government has extended its COVID-19 relief program for businesses through to March. Economic Development Minister Ranj Pillai says the program has also been updated to expand eligibility and help businesses with a broader list of ...

Ottawa’s plan to rein in tech giants missing key pieces, say experts

TORONTO — The Liberal government unveiled a plan to rein in tech giants in its throne speech this week, but experts say there is much more that should be included. The government revealed Wednesday that it wants to address corporate tax

Some CRA online services remain unavailable a month after cyberattacks

More than a month after the Canada Revenue Agency took its website offline in the wake of a major cyberattack, the federal tax collection agency won't say when it expects its online services to fully return to normal. A number of