Economy

Economy


Government was warned two years ago high immigration could affect housing costs

Federal public servants warned the government two years ago that large increases to immigration could affect housing affordability and services, internal documents show.  Documents obtained by The Canadian Press through an access-to-information request show Immigration, Refugees and Citizenship Canada analyzed the potential effects immigration would have on the economy, housing and services, as it prepared […]

Read More


Inside Vancouver’s Decision to Scrap Its Living Wage Commitment

Internal emails suggest City of Vancouver staff felt “significant anger and disillusionment” after city council voted to scrap the municipality’s living wage policy this year. That’s how former chief equity officer Aftab Erfan described the reaction from staff after the city announced in March it would no longer guarantee a living wage, effectively cutting the […]

Read More


Patrick Brown’s ‘reckless’ $11B debt plan would cost taxpayers almost $2K more each year

Regional councillors wasted no time in quashing a motion by Brampton Mayor Patrick Brown which sought to push the Region of Peel $11 billion into debt. The move came as council members labelled the idea “foolish” and “reckless”, while staff suggested it might be illegal. A staff report presented at the July 6 Peel Region […]

Read More


As the Bank of Canada prepares for a digital Canadian dollar, democratic concerns loom large

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. The Bank of Canada is preparing for the possibility of the Canadian government requiring it to issue a digital version of the Canadian dollar. Although the […]

Read More


Hong Kong launches bid to attract Canadian companies, but rights group warns of risks

Hong Kong’s government is betting that Canadian companies and other overseas businesses will put profits over politics as it tries to lure talent and industry back to the city that has been cracking down on dissent after quashing a pro-democracy protest movement. A Toronto-based official involved in the pitch that was advertised in Canadian newspapers […]

Read More


Budget 2023: Liberals add foreign interference office, new money laundering rules

OTTAWA — Prime Minister Justin Trudeau’s Liberal government plans to launch a National Counter-Foreign Interference Office, amid ongoing scrutiny of allegations that Beijing interfered in recent federal elections. Tuesday’s federal budget earmarked $56 million over five years for measures to combat foreign interference, threats and covert activities. The Mounties are slated to receive most of […]

Read More


Bring title insurers under anti money laundering rules, former executive says

Title insurers need to be brought under anti-money laundering rules to fight against scam artists who impersonate homeowners to sell or mortgage their properties, a former insurance executive says. Tim Hyde, who spent years in the title insurance business in Ontario, said dozens of cases involving impersonators in Ontario and B.C. showed the need for […]

Read More


Indigenous groups hope for infrastructure dollars and economic development in budget

OTTAWA — Funding for infrastructure and economic development are two of the main asks some prominent Indigenous organizations have put to the Liberal government in its upcoming budget. Finance Minister Chrystia Freeland has promised that the spending plan to be made public Tuesday will demonstrate fiscal restraint. It is also expected to include money to […]

Read More


Trudeau stayed in $6,000 London hotel suite for Queen Elizabeth II’s funeral

OTTAWA — The Prime Minister’s Office says Justin Trudeau and his wife, Sophie Gregoire Trudeau, stayed in a $6,000 per night hotel suite while attending the funeral for Queen Elizabeth II. The stay at the Corinthia London hotel became the subject of public debate last fall when media honed in on the details of the […]

Read More


Wildly swinging oil prices will continue, and provinces like N.L. can gain

ST. JOHN’S, N.L. — As the COVID-19 pandemic sent oil prices plummeting to historic lows, emails obtained by The Canadian Press show Newfoundland and Labrador was quietly bracing for two of its offshore oilfields to be abandoned by their owners. And as the province watches those same companies this year report staggering profits, experts say fossil fuel-producing […]

Read More


Manitoba government’s cost of mailing out cheques continues to rise

WINNIPEG — The Manitoba government has been mailing out cheques to people in recent years to help with issues ranging from property taxes to inflation to the effects of the COVID-19 pandemic. And the cost of printing those cheques and putting them in the mail — not including the cost of the benefits themselves — […]

Read More


Vandalism to Winnipeg bus shelters cost nearly $700K over 15 months

WINNIPEG — Nearly $700,000 was spent repairing vandalism to Winnipeg bus shelters over 15 months as city and community leaders urge more support for an unhoused population that has exploded during the COVID-19 pandemic. Data obtained by The Canadian Press through freedom-of-information requests shows that from June 1, 2021, to Aug. 31, 2022, the estimated damage to bus […]

Read More