Canada’s Finance Minister François-Philippe Champagne has indicated that the federal budget to be tabled on Thursday will include new measures to support small and medium-sized businesses, potentially including steps to simplify tax procedures. Speaking during a question-and-answer session at the Canadian Club in Toronto, Champagne said the budget would be largely focused on entrepreneurs, innovators and creators, with small businesses expected to receive significant relief. Addressing the current tax system, the minister acknowledged that Canada’s tax code contains several complicated ru

A Canadian citizen has been confirmed among the 69 people killed in a high-speed train collision in Spain last week. According to the latest report released by Spanish authorities, the victim was among those killed when two high-speed trains collided on October 28 while travelling from Madrid to Seville. The death toll includes 54 Spanish nationals, one Canadian and four Americans. Around 100 people were injured in the crash. Authorities have so far identified 66 of the 69 victims. Preliminary investigations suggest that a malfunction in the automatic signalling system may have led the control

Prime Minister Mark Carney has called federal by-elections for December 7 in six parliamentary ridings across Ontario, Quebec and Saskatchewan. The seats became vacant following resignations by MPs from various political parties in recent months, as well as decisions by some to move into provincial politics. Under the announcement, three by-elections will be held in Quebec, in ridings previously represented by the Liberals, the NDP and the Bloc Quebecois. In Ontario, voters will head to the polls in Scarborough North, a former Liberal seat, and Brantford-Brant South, previously held by the Con

Trade negotiations between Canada and the United States are expected to resume soon following a positive phone call between Prime Minister Mark Carney and U.S. President Donald Trump. In a social media post on Sunday, Carney described his conversation with Trump as highly productive, saying teams from both countries would work together over the coming weeks to reach a concrete trade agreement. Meanwhile, Trump confirmed to reporters that his administration already has a concept for a new trade deal with Canada, which he said would be very beneficial for American farmers and the country's inter

Indian Prime Minister Narendra Modi will visit Canada for two days on December 11 and 12 at the invitation of Canadian Prime Minister Mark Carney. According to reports, Modi will address a gathering of the Indo-Canadian community in Toronto on December 11, with approximately 30,000 people expected to attend. However, his visit could extend beyond two days, although the final itinerary has yet to be confirmed. After completing his official bilateral engagements in Ottawa and Toronto, Modi will travel to the United States to attend the G20 Leaders' Summit. The visit is also expected to provide a

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