The Canadian government has postponed the capital gains tax increase to January 1, 2026. The Trudeau government had announced this tax increase in the April 2024 budget, originally set to take effect on June 25, 2024. However, it was not officially enacted by Parliament, even though the government began collecting the increased tax from the scheduled date. People affected by this tax expressed concerns about whether they would have to continue paying the higher capital gains tax without formal legislative approval. The bill failed to pass the House of Commons last year due to political deadlo

Liberal leadership contender Mark Carney is expected to announce a plan on Friday to abandon consumer carbon pricing but keep industrial pricing in place. “The consumer carbon tax isn’t working — it’s become too divisive," Carney said in a written statement provided to The Canadian Press ahead of the announcement. "That’s why I’ll cancel it and replace it with incentives to reward people for greener choices." That would include energy efficient appliances, electric vehicles and improvements to home insulation, he said. Carney, a former Bank of Canada governor who has spent the las

The third week of striking by educational assistants at Edmonton Public Schools is almost over and the union says there’s no end in sight. They say negotiations are deadlocked. The school board and educational assistants with public schools returned to the bargaining table last Thursday, both sides still unable to strike a deal. Union leaders want significant raises to account for the increased cost of living since the last union agreement ended five years ago. A third-party mediator landed on a 2.75 per cent raise over four years, not nearly enough says the union. Education support staff

Statistics Canada says real gross domestic product decreased 0.2 per cent in November, the largest monthly contraction since December 2023.However, the agency says its preliminary estimate for December pointed to an increase of 0.2 per cent for the final month of the year. The advance estimate suggests an annualized growth rate of 1.8 per cent in the fourth quarter of 2024.For November, Statistics Canada says goods-producing industries contracted 0.6 per cent, with the mining, quarrying, and oil and gas extraction and utilities sectors driving most of the decline. Services-producing industri

Conservative leader Pierre Poilievre has declined to apply for a security clearance from the Canadian Security Intelligence Service (CSIS) in order to read a report on foreign interference, rejecting the requirement. Poilievre argued that the security clearance requirements would prevent him from speaking freely on the issue and limit his ability to hold the Liberal government accountable. He further stated that the spy agency is welcome to report directly to any of his MPs or senators if it believes foreign interference poses a risk to any of his party members. It is worth noting that Marie-

Former Finance Minister Chrystia Freeland, a candidate in the Liberal Party leadership race to become the next Prime Minister of Canada, has pledged to cut cabinet and Prime Minister’s Office staff by half to reduce unnecessary expenses if elected. Freeland stated her cabinet would consist of no more than 20 ministers, compared to the current 38, including Prime Minister Justin Trudeau. Freeland, who has also served as Deputy Prime Minister, is one of six candidates vying to succeed Trudeau as Liberal leader. The party will select its new leader on March 9, after which Trudeau will step dow

NDP Leader Jagmeet Singh says Canada should bar American companies from all federal government procurement contracts if U.S. President Donald Trump hits the country with damaging tariffs. Singh is meeting with unionized steelworkers in Sault Ste. Marie today, where he's laying out his "Buy Canadian" plan. He also says any funds Canada raises through retaliatory tariffs should be put toward supporting workers affected by U.S. tariffs. Liberal leadership candidate Chrystia Freeland also pitched a "Buy Canadian" plan earlier this week, saying Ottawa should bar Americans from non-defence governmen

An American Airlines jet carrying 60 passengers and four crew members collided Wednesday with an Army helicopter while landing at Ronald Reagan National Airport near Washington, prompting a large search-and-rescue operation in the nearby Potomac River. There were multiple fatalities, according to a person familiar with the matter, but the precise number of victims was unclear as rescue crews hunted for any survivors. Three soldiers were onboard the helicopter, an Army official said. There was no immediate word on the cause of the collision, but all takeoffs and landings from the airport were h

Alberta Premier Danielle Smith says she's not sure which recommendations from a controversial new COVID-19 report her government will implement. Doctors have slammed the $2-million review by a government-appointed panel that calls for limits on COVID-19 vaccines and for health professionals not to be punished for promoting alternative treatments. Smith says critics of the report are trying to control the narrative and that she doesn't want to see ``contrarian voices'' shut out when reviewing pandemic response measures. She says getting those perspectives is needed in order tomake go