Highlights of the federal government’s fiscal update
Freeland budget is borrowing, taxing, tax breaks and rolling out the money for businesses and families.
Alberta outlook improves but budget deficit $21.3B: finance minister
Province’s economy hit by COVID-19 pandemic, the drop in oil prices and a global economic contraction.
Spending restraints shouldn’t be jettisoned because of pandemic
Former budget watchdog says government should move away from spending to stimulate the economy as conditions improve.
Ontario government presents $187B pandemic era budget
Will spend $45 billion over the next three years to respond to the global health crisis.
Ford government to present first pandemic budget, next steps for recovery
Will include a new standard for long-term care: nursing home residents receive an average of four hours of direct care daily.
Budget update won’t have fiscal anchor until after crisis: PM
It will provide some guidelines for ongoing spending to help the economy.
$660M in tax incentives, BC reveals details of $1.5B recovery plan
Details about how the money will be spent come amid speculation that Premier Horgan is considering a snap election
$1B supply bill passed in N.L. falls short of Liberal government’s wishes
The minority Liberal government had originally proposed a three-month $1.56-billion interim supply bill.
Ontario budget deficit projected to jump to $38.5B in 2020-2021
Province spent billions to support the health-care sector and help businesses and residents weather the storm.
Liberals foresee high unemployment, $343B deficit due to COVID-19
Fiscal snapshot foresees a slow return to a new normal, with low economic growth to at least the end of 2021.
Transform CERB into a basic annual income program for better Canada
A basic income program is necessary, but not sufficient, for a complete economic safety net, researchers suggest
Eight more weeks of CERB to cost $17.9 billion, budget officer says
CERB, now budgeted at $60 billion, has paid out $52.14 billion to over eight million people as of June 21.
Federal economics and fiscal ‘snapshot’ coming July 8: Trudeau
Prime minister said uncertainty from the pandemic makes meaningful forecasts impossible.
Saskatchewan says COVID-19 factor in $2.4B shortfall
Extra $2 billion in budget to be spent on infrastructure projects and highway upgrades.
Federal deficit likely reached $260B due to COVID-19: PBO
Finances could be helped by an economic recovery that would help lessen the red ink.
Trudeau cites uncertainty around pandemic for budget delay
Federal spending to combat the economic fallout from the pandemic is approaching $150 billion.
Alberta’s energy war room to spend only on ‘subsistence operations’
Canadian Energy Centre is reducing its current operating budget by 90% to “reflect needs” during the pandemic.
Environment leaders say feds need to push sustainability as budget nears
But Business Council of Canada CEO is calling for an economic budget to respond to the economic crisis “people are feeling.”
N.S. Liberal budget opens up spending taps as province faces slowing economy
The 2020-21 provincial budget tabled Feb. 25 features $11.5 billion in spending with a modest surplus of $55 million
Green groups want feds to admit true costs of climate change
Green budget suggests the next federal budget invest in a number of energy efficiency upgrades.
Alberta to reduce spending 3%, but no cuts to health, education
Aims to balance the books in four years and reorient Alberta’s economy long after that.
Alberta to introduce bills on farm safety, greenhouse gas emissions
New budget coming. Premier Jason Kenney said there will be restraint.
Higher oil prices, more tax income: Alberta ends 2018-19 with smaller deficit
Resource revenue was up $1.6 billion from what was expected.
Ontario’s path to a balanced budget will be responsible, Ford says
Premier Doug Ford has promised to eliminate a $13.5 billion deficit.
Trudeau to meet labour leaders in Winnipeg
In the shadow of SNC-Lavalin scandal as company walks back CEO’s claim about lost jobs.
Liberal budget to applaud Canada’s economy, but who deserves credit?
Over the last few years, the Liberals have spent billions more than they promised in their 2015 election platform.
Trump’s record $4.7T budget relies on strong growth
Deficit is projected to hit $1.1 trillion in the 2020 fiscal year, the highest in a decade.
Doug Ford, in fireside chat, says PC government ‘may’ balance budget by year 4
His government has said the shortfall they inherited from the Liberals was $15 billion.
Ottawa to run bigger than expected deficits over coming years
Feds are on pace to post a $19.4-billion deficit in 2018-19, $1.3 billion higher than the projection in last February’s budget.
Trudeau bills 10 year defence spending plan as answer to Trump spending call
As the NATO summit in Brussels wrapped up, the PM announced a 70 per cent increase in military spending. But the commitment falls short of the 2 per cent of GDP mark agreed upon by members in 2014.
Liberal economic adviser preaches defence spending, but Sajjan says Ottawa fell $2.3B short
Dominic Barton says defence industry critical for innovation, but Libs behind on spending goals.
Federal budget bill quietly proposes tool to ease penalties for corporate crime
A company that comes forward would avoid facing serious criminal charges, including bribery, corruption and insider trading.