Days before he's expected to call a federal election, Prime Minister Mark Carney is confirming he won't move ahead with a key Liberal tax policy. The Prime Minister's Office says a plan to hike the inclusion rate on capital gains, first pitched in the federal budget last year, will not move forward. The proposal was set to take effect on June 25 of last year and would have seen all businesses and individuals reporting more than $250,000 in capital gains in a year pay more tax on those proceeds. The tax change drew sharp criticism from some tech leaders and professional groups and the Liberals

Prime Minister Carney today announced that the Government of Canada will eliminate the GST for first-time homebuyers on homes at or under $1 million. This tax cut will save Canadians up to $50,000. By eliminating the GST, Canadians will face lower upfront housing costs and keep more money in their pocket. Eliminating the GST will also have a dynamic effect on increasing supply – spurring the construction of new homes across the country.

Prime Minister Mark Carney is hosting a meeting with Canada's premiers on Friday. The prime minister's office and the office of Ontario Premier Doug Ford confirmed details of the meeting. It comes as Carney is widely expected to call an election within just days or weeks. He was in Iqaluit Tuesday in a bid to reassert Canada’s sovereignty in the Arctic. That was the final stop on a whirlwind trip to France and the U.K., where he pushed for closer trade and security ties with Europe. Carney is just days into the job after winning the Liberal leadership in a landslide on March 9.

Canada’s annual inflation rate reached 2.6% in February, marking the first time in seven months that it has surpassed the 2% threshold. This increase follows the expiration of the GST exemption for Canadians on February 15. The inflation rate in January had been 1.9%. According to Statistics Canada, the inflation rate for February would have been 3% if the GST exemption had not been in place. This latest figure, coupled with the ongoing trade tensions with the US, may limit the Bank of Canada’s ability to cut interest rates further. StatCan noted that while prices increased across nearly

Conservative Leader Pierre Poilievre has made a serious accusation against Prime Minister Mark Carney, claiming that Carney has been concealing the consumer carbon tax to influence the election. Poilievre argues that the executive order Carney signed to eliminate the tax is a fake, insisting that it remains in effect and hasn't been removed anywhere. He also warned that it could be reintroduced after the election. During a visit to a steel company in L'Orignal village, Ontario, Poilievre criticized Carney’s plan to increase the carbon tax on Canadian companies, especially in the context of

Prime Minister Mark Carney’s first action after assuming office on Friday was to abolish the consumer carbon price, reversing Justin Trudeau’s flagship climate policy. Carney spoke to the media following a cabinet meeting, stating that the government is focused on action. He confirmed that the Canada fuel charge, the consumer fuel charge, will be eliminated immediately. However, the order-in-council Carney signed in front of cabinet ministers and the press specifies that the fuel charge will be removed as of April 1, 2025, coinciding with the scheduled price increase. Instead, the charge w

Mark Carney has taken office as Canada’s Prime Minister today, marking the end of the Trudeau era. Carney and his cabinet were sworn in at Rideau Hall, the official residence of Governor General Mary Simon in Ottawa. Carney has included former Trudeau cabinet ministers Kamal Khera and Anita Anand in his government, along with Dominique LeBlanc, François-Philippe Champagne, former Finance Minister Chrystia Freeland, and Steven Guilbeault. Carney, an economist and former central banker, served as Governor of the Bank of Canada from 2008 to 2013 under former Prime Minister Stephen Harper’s

Alberta's health minister has officially fired back against allegations from a former health leader who says she was fired for investigating sweetheart deals, collusion and high-level political arm-twisting. Adriana LaGrange, in a statement of defence, says Athana Mentzelopoulos was not fired from her job as the head of Alberta Health Services for investigating corruption. LaGrange says Mentzelopoulos was fired because she was failing to do her job and was working to stop mandated health reform to keep the power and perks of her position. Alberta Health Services has been in charge of all h

A major foreign-policy summit is underway in Quebec today, with the Liberals welcoming foreign ministers from the U.S., Europe and Japan. The Group of Seven ministerial meeting is taking place in the Charlevoix region, just as Canada seeks support against damaging American tariffs. The leaders are set to discuss the functioning of the G7 today, as well as geopolitical challenges ranging from Haiti to Sudan. Ukraine is expected to loom large over the meetings, with Kyiv saying it would be willing to accept a ceasefire if Russia agrees to certain conditions. Foreign Affairs Minister Mélanie J