愛污传媒

Politics

    • Freeland says budget needs to focus on economic growth, be mindful of high inflation

    Share
    Ottawa -

    Canada's finance minister laid out the broad strokes of this year's federal budget, saying she wants to boost the country's economic potential while minding inflation rates not seen in 30 years.

    Chrystia Freeland also said the budget would address housing affordability concerns, indicating the document could include a slew of measures to crack down on housing investors that were outlined in her marching orders from the prime minister.

    During a late afternoon news conference where she launched pre-budget consultations that run until late February, Freeland focused her comments on the need for the budget to make the country more competitive and innovative.

    She also noted a need for the budget to help fund the transition to a green economy, whose costs could be steep, and move beyond the recent focus on reducing greenhouse gas emissions.

    "When I look at what I want to have in the budget, I want to have measures that increase the ability of Canada to grow really, really strongly post-COVID," Freeland said.

    "An economy which is expanding is an economy which can really create prosperity for all of its people."

    Freeland said a growing economy would help keep federal finances on solid footing after an expensive two years when the treasury has pumped out unprecedented aid to combat the economic fallout from COVID-19.

    The Finance Department is projecting the deficit this year to hit $144.5 billion, one year after a shortfall of $327.7 billion. The deficit for the next fiscal year, starting in April, is projected to hit $58.4 billion, not including any new spending promises in the budget.

    Speaking to the House of Commons finance committee earlier Monday, parliamentary budget officer Yves Giroux said he expected deficits to be the norm for the coming years.

    That's not necessarily a problem, he said, so long as the deficits are "relatively small" and the economy grows, bringing in more in federal revenues to pay for the increased costs.

    The risk with larger federal deficits comes down to where the government spends its money, Giroux said. If the spending doesn't create extra productive capacity in the economy and instead stimulates demand, "it can lead to inflationary pressures," he said.

    The Bank of Canada said last week the economy appears to have hit its productive capacity, leading to a scenario where too much government stimulus could boost consumer spending and add to inflation strains.

    Freeland said the government would be mindful of higher inflation rates as she crafted her spending plan.

    Separately Monday, Giroux's office projected that the government's hiring program would fall well short of what's budgeted to provide subsidies for eligible businesses that expand their payroll.

    While the government has budgeted almost $2.8 billion in subsidies, the budget office projects total subsidies will only hit $814 million.

    The difference comes down in part to how the government and PBO expect the economy, and businesses, to fare in the coming months.

    The budget office noted in its report that there is some uncertainty about the pace of economic growth, notably the potential impacts of COVID-19 in the future.

    This report by The Canadian Press was first published Jan. 31, 2022.

    IN DEPTH

    Opinion

    opinion

    opinion Don Martin: How a beer break may have doomed the carbon tax hike

    When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.

    CTVNews.ca Top Stories

    B.C. NDP leader David Eby took a break from campaigning Monday to address stunning new allegations from the RCMP that Indian diplomats and consular officials are linked to violent criminal activity on Canadian soil.

    'Escalating incidents' between two Hamilton high schools are believed to be connected to a car crash last week that left a 15-year-old boy dead, police say.

    Four guests at an Airbnb east of Toronto made off with a quarter of million dollars worth of jewelry following their stay, police say.

    Embattled B.C. Conservative candidate Brent Chapman is under fire once again, this time for past Facebook comments casting doubt on the official accounts of mass shooting events in Canada and the U.S.

    Canada

    • B.C. NDP leader David Eby took a break from campaigning Monday to address stunning new allegations from the RCMP that Indian diplomats and consular officials are linked to violent criminal activity on Canadian soil.

    • Embattled B.C. Conservative candidate Brent Chapman is under fire once again, this time for past Facebook comments casting doubt on the official accounts of mass shooting events in Canada and the U.S.

    • 'Escalating incidents' between two Hamilton high schools are believed to be connected to a car crash last week that left a 15-year-old boy dead, police say.

    • Four guests at an Airbnb east of Toronto made off with a quarter of million dollars worth of jewelry following their stay, police say.

    • British Columbia's New Democratic Party says it is responsible for a parody social media post that has B.C. Conservative Leader John Rustad promising to bring back McDonald's McRib sandwiches.

    • The Alberta government is proposing additional restrictions on wind and solar farms that conservationists think are more about limiting renewable energy than protecting the environment.

    World

    Politics

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    • S岣祑x瘫w煤7mesh 脷xwumixw (Squamish Nation) Chef Paul Natrall, the man behind Indigenous food truck Mr. Bannock, is bringing cooking classes on First Nations fare to schools and offices throughout Metro Vancouver.

    • The Celtic Colours Festival is taking place at venues around Cape Breton Island in Nova Scotia from Oct. 11 to 19.

    Sports

    Autos

    • Elon Musk unveils his 'Cybercab' robotaxi

      Tesla CEO Elon Musk unveiled on Thursday his vision of a 'a fun, exciting future,' an 'age of abundance' full of his company鈥檚 self-driving cars without steering wheels, parking lots turned into parks and robots that will walk among the population 鈥 that he once again promised would be available within a few years.

    • video

      video

      Dozens of cars were pulled out of the Detroit River in west Windsor on Tuesday, causing many questions for Windsorites.

    Local Spotlight

    S岣祑x瘫w煤7mesh 脷xwumixw (Squamish Nation) Chef Paul Natrall, the man behind Indigenous food truck Mr. Bannock, is bringing cooking classes on First Nations fare to schools and offices throughout Metro Vancouver.

    The Celtic Colours Festival is taking place at venues around Cape Breton Island in Nova Scotia from Oct. 11 to 19.

    Sometimes love is written in the stars, but for one couple, it鈥檚 written in the aurora borealis.

    Canadian hip hop artist Dillan King says running 100 marathons in 100 days was not only the hardest thing he has ever done, but the 'proudest accomplishment' of his entire life.

    James Taylor never expected to be walking home with a bag full of groceries he didn't buy.

    This weekend marks the fifth anniversary of a large blizzard that paralyzed Manitoba.

    There was an eye-catching mix of rainbows and lightning over Vancouver following a brief downpour this week.

    Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.

    Saskatchewan鈥檚 Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).

    • There are fewer people planning to vote B.C. Conservative following last week's televised leaders' debate, according to a new survey that found most viewers felt John Rustad performed "poorly" against his political rivals.

    • B.C. NDP leader David Eby took a break from campaigning Monday to address stunning new allegations from the RCMP that Indian diplomats and consular officials are linked to violent criminal activity on Canadian soil.

    • The B.C. Conservative Party has promised to build a new children's hospital for families south of the Fraser River, though details on the proposal are currently slim.

    • A 22-year-old woman who was struck by the driver of a school bus in Toronto鈥檚 Upper Beach area last Wednesday has died, say police.

    • Students are returning to a Jewish girls' school in Toronto two days after it was struck with gunfire for the second time this year.

    • Calgary libraries will reopen on Wednesday following a cyber security breach.

    • Calgary Fire Department (CFD) crews responded to a gas leak in the city鈥檚 northwest Monday afternoon.

    • The Ottawa Police Service says a man found suffering from burns in the downtown core Monday morning died in hospital.

    • On Monday, the Mission capped off its annual Thanksgiving tradition with a meal for anyone who needed one.

    • On Monday morning, officers stopped a vehicle that was travelling the wrong way on Baseline Road in Ottawa.

    • Urgences-sant茅 has confirmed that an ambulance was dispatched to a residence in C么te-Saint-Luc following reports of a possible drowning involving a man in his 60s.

    • A Montreal suburb has received a provincial Environment Department permit to go ahead with a long-awaited white-tailed deer cull in a local park that has become overrun with them.

    • Firefighters with the Montreal Fire Service extinguished a two-alarm fire at a vacant building in the Ahuntsic-Cartierville borough on Sunday night.

    • The Alberta government is proposing additional restrictions on wind and solar farms that conservationists think are more about limiting renewable energy than protecting the environment.

    • Boyle Street Community Services and the Bissel Centre, Edmonton organizations that help people dealing with homelessness and poverty, partnered with the Northern Alberta Institute of Technology's culinary program to feed hundreds for the annual holiday at the downtown Boyle Street Plaza.

    • Halifax police have charged a 41-year-old man in the death of his mother.

    • The Halifax Regional Municipality (HRM) is reminding residents that the second of two advance voting days for the 2024 Municipal and Conseil scolaire acadien provincial election will take place on Tuesday.

    • 鈥淜en is a dreamer鈥: Saint John singer-songwriter Ken Tobias passes away at 79.

    • Old buildings can be a little spooky this time of year, but none like the Boyd House in Winnipeg鈥檚 Osborne Village.

    • Sometimes love is written in the stars, but for one couple, it鈥檚 written in the aurora borealis.

    • If you have leftover seeds from your squash soup or pumpkin carving, the Prairie Wildlife Rehabilitation Centre is asking you to donate them instead of throwing them away.

    • Saskatchewan residents have just a few more days to catch a rare glimpse of a comet visible to the naked eye, streaking across the western skies at dusk.

    • With Saskatchewan's election set for Oct. 28, many voters may be wondering what candidates are running in their local ridings.

    • Long-time residents of Regina and those who are new to the city and the country gathered together for a Thanksgiving celebration.

    • Hundreds of people bundled up to take part in a longstanding Thanksgiving Day tradition in Kitchener.

    • According to police, when officers arrived they found the house fully engulfed in flames and were unable to make entry.

    • Police are looking for a missing 14-year-old boy from Kitchener.

    • Saskatchewan residents have just a few more days to catch a rare glimpse of a comet visible to the naked eye, streaking across the western skies at dusk.

    • With Saskatchewan's election set for Oct. 28, many voters may be wondering what candidates are running in their local ridings.

    • A Greater Sudbury woman is upset about the charges laid against the man accused of attacking her son and a group of his colleagues downtown on Saturday.

    • A 36-year-old man is charged with drug-impaired and dangerous driving after a head-on crash in northwest Ontario last Thursday.

    • One person has died and three others were transported to hospital following a three-vehicle collision in St. Clair Township

    • Smash Pickleball is the region鈥檚 only indoor facility dedicated specifically to the sport.

    • A Harriston man has been charged after police said the operator of an ATV crashed into a vehicle parked on Queen Street South in Harrison.

    • The Busby Centre in Barrie held a first-ever Thanksgiving meal Monday afternoon, serving meals to more than 150 people.

    • Provincial police remind motorists about the importance of buckling up after an officer discovered a passenger sitting on a kitchen chair inside the vehicle during a traffic stop in the Town of the Blue Mountains.

    • A recent study ranks Barrie last among large Canadian cities regarding homeowners who have paid off their mortgage.

    • Chatham-Kent police say a 37-year-old Merlin man has died after a two-vehicle collision.

    • Windsor has the fifth highest rate of mortgage-free homeowners in Canada, according to a study by Casivoo.

    • The Town of Tecumseh is getting $1,789,764 from the Ontario government to help renew and rehabilitate critical infrastructure.

    • Embattled B.C. Conservative candidate Brent Chapman is under fire once again, this time for past Facebook comments casting doubt on the official accounts of mass shooting events in Canada and the U.S.

    • B.C. NDP leader David Eby took a break from campaigning Monday to address stunning new allegations from the RCMP that Indian diplomats and consular officials are linked to violent criminal activity on Canadian soil.

    • A key assumption about dwindling numbers of southern resident killer whales pins the blame on a lack of salmon, but a study out of the University of British Columbia has found they have twice the number of chinook available in summer as their much healthier cousins, the northern residents.

    • Dave Lindsey began growing giant pumpkins to bring a bit of magic to his grandkids' Halloween.

    • A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.

    • Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.

    • The Vancouver Giants scored late to force overtime before winning 4-3 over the Lethbridge Hurricanes Friday night.

    • If you鈥檙e looking for something to do this long weekend, the Lethbridge Corn Maze is open and hosting its annual fundraiser on Monday.

    • Local photographers were amazed by the aurora borealis display in the night sky over Lethbridge on Thursday night.

    • A 36-year-old man is charged with drug-impaired and dangerous driving after a head-on crash in northwest Ontario last Thursday.

    • Provincial police in Hearst, Ont., stopped an unlicensed northwestern Ontario driver for a聽morning traffic infraction.

    • A 32-year-old woman has been charged in connection with the death of an 18-year-old man this past January, according to Ontario Provincial Police.

    N.L.

    Stay Connected
    Follow 愛污传媒