A new economic analysis from Desjardins suggests the federal government’s fiscal position has weakened significantly ahead of next month’s fall budget, largely due to recent income tax cuts and the removal of counter-tariffs on U.S. goods. In a report released Tuesday, Desjardins deputy chief economist Randall Bartlett said Ottawa’s deficit could climb to $74.5 billion this fiscal year — about $6 billion higher than the parliamentary budget officer’s most recent projection. Bartlett said the combination of higher spending on defence and infrastructure, along with tax relief measures

Prime Minister Mark Carney says he is “super pumped” after the Toronto Blue Jays clinched their first American League pennant in more than three decades with a comeback victory over the Seattle Mariners. Speaking to reporters in Ottawa on Tuesday, Carney praised outfielder George Springer’s three-run home run that lifted the Jays to a 4–3 win in Game 7. The shot, which came despite Springer being hit on the knee earlier in the series, secured Toronto’s first trip to the World Series since 1993. Carney said the victory evoked memories of Joe Carter’s iconic walk-off home run that s

Federal Trade Minister Dominic LeBlanc says progress is being made in ongoing trade discussions with the United States but cautions that a final agreement is not imminent. LeBlanc pushed back Tuesday on reports suggesting Canada and the U.S. could soon announce a deal to ease tariffs imposed by the administration of U.S. President Donald Trump. The minister said he was surprised by a report in The Globe and Mail claiming a potential agreement on steel, aluminum and energy could be ready for signing at next month’s Asia-Pacific Economic Cooperation summit in South Korea. LeBlanc, who accompan

Canada’s annual inflation rate rose to 2.4 per cent in September, according to new data from Statistics Canada, driven by higher grocery bills and modest increases in gasoline and rent costs. The latest Consumer Price Index report shows inflation up from 1.9 per cent in August, slightly above economists’ forecasts. While gasoline prices were lower than a year earlier due to the removal of the federal carbon charge, the annual decline was smaller than in August — a factor that nudged overall inflation higher. Food prices continued to climb, with fresh vegetables up 1.9 per cent compared t

Bank of Canada Governor Tiff Macklem says the central bank will take a cautious approach as it resumes formal economic forecasting later this month, acknowledging the need for “humility” in the face of continued trade uncertainty. The Bank of Canada is expected to release its next economic outlook alongside an interest rate announcement on October 29 its first full forecast this year. The central bank paused detailed projections earlier in 2025, citing unpredictable global conditions tied to U.S. tariffs and shifting trade relations. Speaking from Washington, D.C., where he is attending th

A Montreal resident has pleaded guilty to making death threats against Parti Québécois Leader Paul St-Pierre Plamondon and his family. Court records show that 42-year-old Philippe Clément-Laberge entered the plea on Tuesday at the Montreal courthouse. The threats were reportedly made in early March 2024, prompting a police investigation that led to his arrest shortly afterward. St-Pierre Plamondon publicly addressed the incident last year after news of the threats surfaced, saying he was concerned for his family’s safety but expressed confidence in the justice system’s response. The cas

Prime Minister Mark Carney says the federal government will move ahead with new border security and public safety investments as part of the upcoming federal budget, including hiring 1,000 additional Canada Border Services Agency (CBSA) officers. According to the announcement, the new officers will focus on curbing the movement of stolen goods, illegal firearms, and drugs, while enforcing import measures and investigating unfair trade practices. The government also plans to increase the CBSA recruit stipend from $125 to $525 per week the first raise since 2005 to attract and retain new recruit

The head of the International Monetary Fund says Canada remains in one of the strongest fiscal positions among G7 countries, even as Ottawa prepares to run a higher deficit this year. IMF Managing Director Kristalina Georgieva made the remarks Thursday during the organization’s annual meetings in Washington. Asked about the fiscal health of advanced economies, she said some G7 members face deeper challenges, while “Germany and Canada stand up in that regard.” Georgieva added that Canada has room to make targeted investments in areas that could boost productivity and long-term growth. She

An Ontario Provincial Police investigation into cross-border drug and weapons trafficking has led to the seizure of more than 70 illegal handguns from a tractor-trailer stopped in northern Ontario. Police say the truck was pulled over at a Ministry of Transportation inspection station near Temiskaming Shores on September 11, following an eight-month probe that began in the Greater Toronto Area. Officers reportedly discovered 72 U.S.-made handguns and 66 prohibited devices during the search. Investigators believe the shipment originated in Toronto and was part of a larger network involved in co