Category Archives: Finance
Nova Scotia registers $341.6-million deficit for last year, driven by COVID-19 costs
HALIFAX — Nova Scotia's deficit for the 2020-21 fiscal year is $341.6 million — a figure the province's finance minister says won't affect the new Tory government's election promise to spend significantly on health care. Allan MacMaster closed the book...
B.C. drops budget deficit forecast, but points to uneven, uncertain pandemic recovery
VICTORIA — The health and economic risks posed by the COVID-19 pandemic cast uncertainty on the financial horizon in British Columbia despite signs of recovery, says Finance Minister Selina Robinson. B.C.'s financial statement for the first three month...
New Brunswick can’t sue auditor, top court rules
OTTAWA — New Brunswick cannot sue accounting firm Grant Thornton over an allegedly flawed audit which led the province to backstop hefty loans to a company that soon ran into financial trouble, the Supreme Court of Canada has ruled. In a
Good year for crops, federal COVID-19 transfers help shrink Saskatchewan’s deficit
REGINA — Saskatchewan’s year-end financial report says the province's deficit has shrunk to $1.13 billion. The deficit had originally been forecast to be about $2.4 billion. Finance Minister Donna Harpauer says Saskatchewan is in a much better fiscal s...
Canada to tax tech giants as planned despite framework G7 tax deal, says Freeland
Canada is proceeding with its plan to tax technology giants next year even as the world's wealthiest democracies proposed a new global tax framework that includes plans to impose a levee on the firms, federal Finance Minister Chrystia Freeland said
Yukon adds opioid and dental help in post-election budget, while deficit falls
WHITEHORSE — The newly elected Yukon government has tabled a revised 2021-22 budget after the Liberals squeaked into office in last month's election. Premier and Finance Minister Sandy Silver says capital spending remains the same at $434 million, whil...
Boost in near-term funds, risk should lure more social-finance investors, Hussen says
OTTAWA — Changes to the federal plan to finance experimental ways to deliver social services should more easily and quickly bring in needed private-sector backers for the strategy to work, says the minister on the file. Social Development Minister Ahme...
$18B Indigenous spending in Budget 2021 meant for short-term gaps: Miller
OTTAWA — Indigenous Services Minister Marc Miller says the 2021 federal budget marks a historic level of investment in Indigenous communities, but he acknowledges much of this spending addresses systemic funding gaps and that longer-term, sustained spe...
Nova Scotia Liberals to table first deficit budget in six years because of COVID-19
HALIFAX — Nova Scotia's budget is to be tabled Thursday and will include a plan to bring the province back to fiscal balance within four years, according to a government source. The source with knowledge of the budget — the first
Highlights from the Ontario budget unveiled Wednesday
Ontario's Progressive Conservative government tabled its second pandemic-era budget Wednesday. Here are the highlights: ___ BILLIONS IN SPENDING, LONG PATH TO BALANCE The budget contains $186.1 billion in spending, with $6.7 billion earmarked for pand...