Financial Post TopStories

Canada’s automobile executives are anxiously waiting to see if Donald Trump makes good on threats to impose 25 per cent tariffs on all Canadian imports after he assumes his second term as United States president in January. Read More

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Lloyd Smith, 64, likes being alone with his balsam fir and pine, so it’s no wonder he’s been in the business of growing Christmas trees for the past five decades. Read More

Despite moving to Canada from India in 2018 as an international student and receiving a work permit upon graduating two years later, Dinesh* lives in Ontario today as a visitor even though that was obviously not the original plan. Read More

So long Santa rally. Read More

Alberta Premier Danielle Smith talks with Financial Post’s Larysa Harapyn about how upheaval in the federal government with the resignation of Chrystia Freeland has set Canada back at a critical time. Read More

Rebekah Young, vice president and head of inclusion and resilience economics at the Bank of Nova Scotia, talks with Financial Post’s Larysa Harapyn about what’s in the federal government’s Fall Economic Statement. Read More

Concerns about the rising cost of living and a looming recession have many Canadians looking to clamp down on their spending habits after the holidays. Read More

The holidays are usually the time Canadians wind down from work to connect with loved ones and enjoy the festivities. Some Canadian immigrants, however, face barriers that make such activities hard to do. Read More

Temporary foreign workers who apply to become permanent residents through Canada’s immigration system will no longer get additional points if they have a job offer that’s supported by a Labour Market Impact Assessment (LMIA), Immigration Minister Marc Miller said on Tuesday. Read More

The Quebec government has adopted regulations banning the sale of most new gasoline-powered vehicles as of 2035. Read More

The federal government says it plans to boost penalties for money laundering by 40 times as part of several measures it wants to roll out to crack down on the issue. Read More

The Canadian dollar dipped below 70 cents U.S. on Tuesday for the first time since early 2020 as the fallout from Chrystia Freeland’s resignation as deputy prime minister and finance minister hit the currency. Read More

The rate of inflation slowed to 1.9 per cent in November, once again slipping under the Bank of Canada target of two per cent. Read More

Canada’s inflation rate slowed to 1.9 per cent in November, slightly below forecast and down from two per cent in October, a deceleration that economists said should give the Bank of Canada room to continue to ease its policy rate. Read More

Normally when the days get colder, the housing market goes into hibernation, but apparently not this year. Read More

One overcast morning in November, Waleed Essa shook off a head cold and headed to an Amazon.com Inc. warehouse outside Toronto where part of his fleet of vans was gearing up for a day of deliveries. Read More

The resignation of federal Finance Minister Chrystia Freeland was met with shock and concern in Canada’s business community Monday, with some leaders worried that political infighting at the highest levels of the Liberal government could distract from the country’s economic problems and preparation for a potential trade battle with the United States. Read More

Canada Post workers are set to return to their routes on Dec. 17, following a decisive ruling by the Canada Industrial Relations Board (CIRB). But as the clock ticks toward the holidays, Canadians are left wondering: what happens to the mountains of undelivered mail, the fate of delayed Christmas packages, and the unresolved contract negotiations between the Crown corporation and the Canadian Union of Postal Workers (CUPW)? Here are answers to some of Canadians’ most pressing questions:  Read More

The federal government broke its key fiscal guardrail and posted a deficit of $61.9 billion for the 2023-2024 fiscal year, according to the fall economic statement released on Monday, blowing past the $40.1 billion level at which it promised to keep the deficit. The Liberal government is also projected to go beyond the $40.1-billion guardrail for the next two fiscal years, with a deficit projection of $48.3 billion in 2024-2025 and $42.2 billion in 2025-2026, higher than what was forecast in the budget last spring. The federal government is on track to stick to two of its three fiscal guardrails, with the debt-to-GDP ratio set to be 42.1 per cent for 2023-2024 and decline to 41.9 per cent the following year. Additionally, the deficit-to-GDP ratio is projected to fall to under one per cent in 2026-2027. The fall economic statement was tabled by the government house leader Karina Gould after Chrystia Freeland resigned as finance minister earlier in the day. In a letter addressed to Prime Minister Justin Trudeau,, she said she had been at odds with the prime minister for weeks over “the best path forward for Canada.” The economic update detailed $23.3 billion in new spending over the next six years. Department of finance officials said the deficit was $21.8 billion higher than expected for 2023-2024 due exceptional factors. Those included $16.4 billion Indigenous contingent liabilities expenses. The second factor is money that still hasn’t been recovered under the Covid-19 pandemic support programs. The higher-than-anticipated provision for these two categories accounted for $21.1 billion in accounting charges. The statement projects the economy will grow by 1.3 per cent in 2024 and 1.7 per cent in 2025. Tax revenues for 2023-2024 are expected to be $5.5 billion below the spring budget’s projection, due lower tax revenue consistent with a softening economy. The most significant investments introduced in the fall economic statement include renewing the Accelerated Investment Incentive, to make Canada’s corporate tax system more competitive. The incentive was first introduced by former finance minister Bill Morneau in 2018 following competitiveness concerns after Donald Trump was first elected U.S. president. The re-upping of these incentives will cost the federal government an estimated $17.4 billion over the next six years. They will slowly be phased down starting in 2030 to 2033. The government has also announced $1.1 billion in new spending to boost the Scientific Research and Experimental Development tax incentive program. Additionally, $1.6 billion was allocated for the government’s GST holiday, which gives a break for the goods and services tax on a number of goods between Dec. 14 and Feb. 15. Missing from the statement, is costs associated with the $250 rebate cheques, which has gotten no support from opposition parties in Parliament. The government also committed $1.3 billion over six years for the border, an issue of contention with the incoming Trump administration that the federal government hopes to solve. Read More