The Canadian government may introduce new tax incentives for small businesses in its federal budget, scheduled to be presented on November 5. While economists and business organizations are calling for major reforms to Canada's overall tax system to boost economic growth and investment, government signals suggest the upcoming budget may focus on targeted tax relief measures. Rebekah Young, a former Finance Department official and an economist at Scotiabank, also predicted in a recent report that the government is unlikely to undertake major tax reforms immediately. Instead, the budget could in

Prime Minister Mark Carney has taken a firm stance against U.S.-based Cleveland-Cliffs, warning that failing to honour the conditions and legal obligations agreed to during its acquisition of Canadian steelmaker Stelco would be a serious mistake. Speaking to reporters at a news conference in Montreal on Thursday, Carney was asked whether the federal government had made a mistake by approving the company's purchase of Stelco. He said the real mistake would be Cleveland-Cliffs failing to respect its employment commitments. Under the 2024 acquisition agreement, the company is legally obligated to

Canada’s economy remained stagnant for the second consecutive month, with no growth recorded in August, according to the latest data from Statistics Canada. Economists had expected the economy to grow by 0.2 per cent in August, following zero growth in July. However, real gross domestic product (GDP) remained unchanged. The slowdown was mainly driven by a 1.4 per cent decline in wholesale trade and weaker activity in the public sector. Some sectors, however, showed positive growth. Retail trade increased by 1.2 per cent, while the manufacturing sector also recorded growth. Meanwhile, Statist

U.S. tariffs are having a significant impact on Ontario’s annual budget, with Premier Doug Ford’s government projecting a deficit of $16.9 billion for the 2026-2027 fiscal year in its Fall Economic Statement. The projected deficit is approximately $3.1 billion higher than the $13.8 billion forecast in the March budget. Ontario Finance Minister Peter Bethlenfalvy said the ongoing trade war with the United States and U.S. tariffs are the main reasons behind the widening deficit. He said American tariffs have hit Ontario’s steel, automotive and manufacturing sectors particularly hard. Ontar

The Canadian government has introduced a new penalty system to crack down on fraudulent immigration agents. Under the new rules issued by Immigration, Refugees and Citizenship Canada (IRCC), individuals who provide false immigration advice or charge fees for immigration services without proper authorization could face fines ranging from $5,000 to as much as $1.5 million. According to the new guidelines, anyone acting as an immigration representative without a valid licence or required authorization will face a minimum fine of $5,000. Additionally, individuals who deliberately submit false or m

Canada’s Industry Minister Mélanie Joly has sent a strongly worded letter to Stelco President Paul Simon, demanding the immediate reinstatement of laid-off workers at the Ontario-based steelmaker. Joly said she is willing to meet with Stelco representatives and Lourenco Goncalves, CEO of its U.S. parent company, Cleveland-Cliffs. However, she made it clear that reinstating the laid-off workers would be a precondition for any discussions. Criticizing Goncalves, Joly said the company cannot use U.S. tariffs, which are hurting businesses on both sides of the border, as an excuse for the layoff

Three masked suspects broke into a home in Toronto’s Bridle Path neighbourhood early Thursday morning and opened fire on a family, seriously injuring a father and his two adult daughters. The incident occurred at around 3:45 a.m. at a residence on Hyde Park Circle. According to police, the three suspects entered the home through the back door armed with handguns and a hammer. They targeted a couple and their two adult daughters. When the family resisted the robbery, the suspects opened fire, shooting the father and both daughters. The mother was also injured after being struck with a hammer.

The Canada Border Services Agency (CBSA), in a joint operation with the RCMP in Saskatchewan, has uncovered a cross-border tobacco smuggling operation and laid serious criminal charges against four individuals. According to the CBSA, the group allegedly used the railway network to smuggle approximately 116,000 kilograms of illegal tobacco from the United States into Canada and between different provinces between October 2020 and April 2024. All four accused are residents of Ontario: 47-year-old Harminder Grewal of Brampton, 49-year-old Avikesh Sharma of Mississauga, 48-year-old Johnny Gamboa o

Prime Minister Mark Carney has ruled out the possibility of an imminent trade deal with the United States. Speaking to reporters on Parliament Hill today, Carney made it clear that Canada is not currently in a position to reach a trade agreement with U.S. President Donald Trump’s administration. Carney said Ottawa would only consider a deal if it clearly served Canada's interests, stressing that the federal government would not rush into an agreement. His remarks come just days before the U.S. midterm elections next week, following signals from Trump that a trade deal with Canada could be wi