Category Archives: Economy
Budget 2022: Feds create new tax-free account for first-time homebuyers
OTTAWA — Canadians looking to save a down payment to buy their first home will have a new tax-free savings account to use starting next year. The federal government announced the Tax-Free First Home Savings Account (FHSA) in the budget Thursday
Budget 2022: Ottawa raising taxes on big banks and life insurance companies
Ottawa is raising taxes on Canada’s big banks and life insurance companies. The government says the country’s major financial institutions made significant profits during the pandemic and have recovered faster than other parts of the economy — in part...
Budget 2022: Ottawa unveils $2.6B carbon capture tax credit for energy sector
CALGARY — Ottawa is urging oil and gas companies to move quickly to take advantage of a major new tax credit for carbon capture and storage — a pricey technology that proponents say could play an important role in reducing
Budget 2022: Housing supply gets $10B boost; Feds add measures to curb speculation
TORONTO — The Liberal government will try to ease Canada's housing crisis with more than $10 billion in funding meant to speed up home construction and repairs along with measures to cool the market and help those trying to buy
Budget 2022: Liberals rejig $15B toward new business investment fund
OTTAWA — The Trudeau Liberals are promising to create two new arm’s-length bodies to handle billions in federal funds to prod businesses to invest in themselves. The measures unveiled in the 2022 federal budget would see $15 billion over five
Budget 2022: Flush from booming economy, Feds eye growth with $56B in new spending
OTTAWA — The federal Liberals have delivered a budget that looks to take advantage of a boom in economic growth that has padded federal books, and turn that extra spending space toward removing hurdles to long-term gains. However, experts cautioned tha...
Budget 2022: $452B plan focused on affordability, innovation as uncertainty looms
OTTAWA — Finance Minister Chrystia Freeland’s second pandemic budget turns Canada’s fiscal focus to making life more affordable and giving a long-needed boost to Canadian productivity. She nonetheless wrapped the budget in copious amounts of yellow cau...
China used TV, TikTok stars in discreet Olympics campaign
WASHINGTON (AP) — A “Real Housewives of Beverly Hills” TV star, a Paralympic swimmer and a self-described “brand king” were among the Instagram and TikTok influencers who were paid by Chinese officials for a discreet campaign that promoted the Beijing
UK Treasury chief pressured to explain wife’s tax status
LONDON (AP) — Britain’s Treasury chief faced pressure to explain his wife’s tax affairs Thursday after she acknowledged taking advantage of rules that allow many foreigners to escape U.K. taxes on their overseas income.
Biden bets strong job market will shield economy from slump
WASHINGTON (AP) — The U.S. economy faces plenty of threats: War in Ukraine, high grocery bills, spiking gasoline prices, splintered supply chains, the lingering pandemic and rising interest rates that slow growth.
