Skip to Main content

12.54°^C Vancouver

News Entertainment Sports Videos Podcast Contact Us

Feb 27, 2024 4:03 PM - The Canadian Press

Ottawa freezes merger notification threshold, funds housing innovation projects

Share On

ottawa-freezes-merger-notification-threshold-funds-housing-innovation-projects

It also announced $123 million of funding to eight homebuilders that the federal government says are driving innovation and will help build more than 5,000 affordable homes.(Photo: The Canadian Press)

The federal government is freezing the threshold at which the Competition Bureau must be notified of a merger.

It also announced $123 million of funding to eight homebuilders that the federal government says are driving innovation and will help build more than 5,000 affordable homes.

The announcements came this morning during Finance Minister Chrystia Freeland's weekly economic update alongside other ministers.

Competition law requires mergers that exceed a certain value to be flagged to the Competition Bureau in advance, so it can determine whether the deal could prevent or lessen competition.

Ottawa says the amount usually increases along with gross domestic product but instead, it will be kept frozen at $93 million, the threshold since 2021.

The funding for homebuilders is being allocated through the Affordable Housing Innovation Fund, a program that funds rent-to-own schemes and other innovative projects.

Latest news

chilliwack-man-55-charged-with-second-degree-murder-in-womans-death

Chilliwack Man, 55, Charged with Second-Degree Murder in Woman’s Death

A 55-year-old man has been charged with second-degree murder in connection with the suspicious death of a woman at a home in Chilliwack, B.C. According to the Integrated Homicide Investigation Team (IHIT), local RCMP officers were called to a home in the 46000 block of Mallard Avenue at around 8 p.m. on November 6. Upon arrival, police discovered the body of a 52-year-old woman. As the circumstances surrounding the death were considered suspicious, the investigation was transferred to IHIT. Investigators said the victim and the accused knew each other. The accused has been identified as Kristo

poilievre-calls-for-industry-minister-mélanie-jolys-dismissal-over-stellantis-plant-sale

Poilievre Calls for Industry Minister Mélanie Joly’s Dismissal Over Stellantis Plant Sale

Conservative Leader Pierre Poilievre has called for the dismissal of Federal Industry Minister Mélanie Joly following Stellantis’ decision to sell its Brampton auto assembly plant. Poilievre accused Joly of failing to protect Ontario’s struggling steel and automotive sectors. He said the federal government had provided billions of dollars in taxpayer funding to major corporations, but when companies cut jobs, the Industry Minister offered only empty threats of legal action without taking concrete steps. Poilievre held Joly directly responsible for the government’s failure to protect Can

Lorne Doerkson Appoints Angelo Isidorou as Principal Secretary Ahead of Taking Office

B.C. premier-designate Lorne Doerkson has announced the appointment of Angelo Isidorou as his principal secretary ahead of officially taking office on November 20. Isidorou is one of the key strategists credited with helping the B.C. Conservative Party rise to power. He previously served as the party’s executive director and campaign manager, playing a significant role in its growth under former leader John Rustad. The party, which secured less than two per cent of the vote in 2020, has now formed the provincial government. In another key appointment, Doerkson has named Ellie Blades as his d

WorldNov 09, 2026

At Least 34 Migrants Dead After Boat Capsizes Off Senegal Coast

At least 34 people have died after a boat carrying migrants capsized off the coast of Senegal, according to local media reports. Only one person has been rescued so far, while the number of people still missing remains unknown. The wooden boat reportedly sank between Senegal’s capital, Dakar, and the northern city of Saint-Louis. It was heading towards Spain’s Canary Islands when the tragedy occurred. Rescue operations are underway, and the bodies recovered so far are believed to belong to Senegalese nationals. Senegalese President Bassirou Diomaye Faye expressed condolences to the familie

bc-conservatives-gain-64th-seat-after-final-count-flips-burnaby-south-metrotown-riding

BC Conservatives Gain 64th Seat After Final Count Flips Burnaby South-Metrotown Riding

The final count in British Columbia’s October provincial election has flipped the Burnaby South-Metrotown riding to the BC Conservatives by a margin of just 64 votes, giving Lorne Doerkson’s party a total of 64 seats in the legislature. Meanwhile, the BC NDP has retained its seat in Ladysmith-Oceanside by a margin of 50 votes. The party had initially won the riding by just 13 votes. Following its defeat, the BC NDP now holds only 27 seats in the legislature, while the BC Green Party has retained both of its seats. According to figures released by Elections BC, the Conservatives received 47

Related News

Canada Launches Real-Time Payment System for Instant Money Transfers

Canada Launches Real-Time Payment System for Instant Money Transfers

Transferring money between bank accounts in Canada is set to become faster and easier with the launch of a new real-time payment system. Payments Canada announced on Monday the launch of its Real-Time Rail (RTR) payment system. Currently, transferring money between banks and completing business transactions can take considerable time. However, the new RTR system will allow consumers and businesses to send and receive money within seconds, 24 hours a day, seven days a week, including weekends and holidays. Initially, fintech companies such as Wealthsimple and KOHO are testing the system to offe

Mark Carney Appoints Karen Karniol-Tambour as CEO of Canada’s New Sovereign Wealth Fund

Mark Carney Appoints Karen Karniol-Tambour as CEO of Canada’s New Sovereign Wealth Fund

Prime Minister Mark Carney has announced the appointment of the CEO of Canada’s first-ever sovereign wealth fund, named the Canada Strong Fund. Karen Karniol-Tambour, currently co-chief investment officer at U.S.-based asset management firm Bridgewater Associates, will take on the role. A Canadian citizen, Karniol-Tambour joined Bridgewater in 2006 and is now leaving the firm after nearly two decades to return to public service in Canada. The Canada Strong Fund will launch with an initial capital of $25 billion and aims to invest in major infrastructure projects across the country. One of th

Canada to Develop New Strategy for Foreign Espionage, Granting CSIS Expanded Powers

Canada to Develop New Strategy for Foreign Espionage, Granting CSIS Expanded Powers

The Canadian government is planning to grant the country's intelligence agency, the Canadian Security Intelligence Service (CSIS), the authority to conduct espionage operations overseas. The move could mark a major first step towards establishing a separate foreign intelligence agency similar to the United States' CIA and Britain's MI6. Prime Minister Mark Carney's government announced $6 billion in additional funding for CSIS over the next 10 years in its recent federal budget. A portion of the funding is expected to be used to strengthen the agency's ability to gather foreign intelligence. C

Legals

Journalism code of ethics

© 2021 AKASH Broadcasting Inc.

MANAGED BY STRATWIT

useful links

Accessibility Plan

Broadcasting Notice of Consultation

BC Children's Hospital