Business

Even as Political Relations Deteriorate, Canada-China Trade Continues to Thrive

Canada's business with China appears to be thriving during a pandemic, even as diplomatic relations remain deeply frozen. Exports to China rose almost 10% in the first seven months of...

The Ford Government Announces Financial Aid, Launching Online Application Portal for Parents

The Ford government has announced it’s launching an online portal for parents or guardians with children aged 12 and under to collect additional financial support during the COVID-19 pandemic. Starting...

Government Plans Foreign Buyers Tax in Bid to Create Affordable Housing for Canadians

The Liberal government has said it will take steps over the next year to tax foreign homeowners living outside of Canada as part of its plan to lower housing prices across the country

Canada’s Economy Recovered At Record Speeds of 40% in the Third Quarter

On Tuesday, Statistics Canada said the economy grew at a record annualized pace of 40.5% in the third quarter as businesses came out of the COVID-19 lockdowns. The agency said...

Canadian Consumer Debt Tops $2 Trillion Says Equifax Canada

According to Equifax Canada, consumer debt in Canada reached 2 trillion this fall, largely due to increased demand for mortgages and car loans. In its latest quarterly report, Equifax shows...

After Posting Record $381 Billion Deficit, Liberal Government to Spend $100 Billion on Post-Pandemic Economic Recovery

In a long-awaited economic statement, tabled today, Finance Minister Chrystia Freeland said the government's immediate priority is to do "whatever it takes" to help Canadians and businesses stay safe and solvent.

Statistics Canada Says Number of Business Closings Decreased in August

Statistics Canada Statcan said that the number of business closings decreased slightly in August due to the easing of COVID-19 restrictions. The agency said 34,126 businesses closed in August, down...

The Airport Industry Calls for Emergency Aid as Pandemic Reduces Revenue

The Airports Canada Council (CAC) is calling for emergency government aid as travel restrictions continue to hurt airport revenues. This organization represents more than 100 airports nationwide that require the...

Canada and UK Announced Post-Brexit Transitional Trade Agreement

Canada and the UK have reached a temporary post-Brexit trade deal, Prime Minister Justin Trudeau and British Prime Minister Boris Johnson announced on Saturday. "Now that we continue to work...

COVID-19 Pandemic has No Effect on Canadian Holiday Spending According to Surveys

Although the majority of Canadians do not plan to cut gifts this year, surveys show that holiday spending habits have changed somewhat because of the COVID-19 pandemic. According to a...

Federal Government to Provide Economic and Financial Update on November 30

The federal government will release the fall economic report on November 30, providing information on the state of federal finances in the wake of the COVID-19 pandemic. Parliamentarians and Canadians...

1 and 2 Dollar Bills are Among the Canadian Banknotes that will be Replaced in 2021

Any Canadians with old banknotes can use them in daily transactions until the end of the year before stores are no longer accepted. The Bank of Canada (BoC) has issued...

CRA warns 213,000 Canadians that they may have to return excessive payments to the CERB

The Canada Revenue Agency CRA says it’s warning approximately 213,000 Canadians who may have been paid twice through the Canadian Emergency Response Benefits Program (CERB) that they could be called upon to repay...

Canada’s Inflation Rate Increased by 0.7 Percent in October, Due to Rising Food Prices

Statistics Canada said the consumer price index in October rose 0.7% from a year ago due to the annual inflation rate increased because of higher food prices. The increase compared with the annual...

Ontario’s COVID-19 Budget Includes Record Deficits and Expenditures, Tax Support for Businesses

The Government of Ontario has launched its latest budget, a plan that covers a record deficit as the province struggles with COVID-19 and provides a basis for economic recovery. Ontario,...

PM Trudeau Considers Adding New Multi-Billion-Dollar Social Programs To the Fiscal Plan

Prime Minister Justin Trudeau's government is considering allocating billions of dollars in fixed spending annually to new programs that could be announced as early as next month, according to a senior government official.

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