The federal Liberals unveiled their fall economic update Thursday — a 92-page mini-budget setting out Canada’s fiscal situation and outlining new policies to tackle cost-of-living woes.
The word “inflation” appears more than 100 times in the document, making clear the government’s primary economic concern.
But beyond the top-line debt projections and the analysis of how Canada seeks to soften the impact of a potential recession, the fiscal update offers key details that shed light on Liberal priorities.
Here’s a look at five highlights.
1. FIONA RELIEF
The Liberals are expecting to spend $1 billion in the current financial year toward provincial requests related to post-tropical storm Fiona, which savaged Atlantic Canada and eastern Quebec in late September.
That figure is on top of the $300 million over two years that the feds announced in early October in the wake of the devastating storm, and its month-long matching of donations to the Canadian Red Cross.
The new money is expected to cover requests from provinces under the Disaster Financial Assistance Arrangements, under which the federal government covers up to 90 per cent of eligible provincial expenses in the three months following a disaster.
2. INFRASTRUCTURE FUNDING
In last spring’s budget, the government announced an accelerated deadline for $33.5 billion in public infrastructure projects that had been promised in 2017. The fall statement says $23 billion has been approved so far for 5,200 projects submitted by provinces and territories.
While territories have until March 2025 to allocate the money, the provincial deadline is March 2023 — otherwise the money will be reallocated.
Alberta and Manitoba only have one per cent of their funding envelopes left, representing $50.5 million and $13.6 million respectively. And though Ontario has used up all but four per cent, that still represents a significant amount of money at more than $450 million.
On the other end of the spectrum, Quebec is the biggest laggard, with 37 per cent of its envelope or $2.75 billion still available. The next-biggest amount is British Columbia’s $661 million, representing 17 per cent of its share.
Among the Atlantic provinces, Newfoundland and Labrador still has 38 per cent or $213 million; Nova Scotia has 31 per cent or $259 million; New Brunswick has 17 per cent or $113 million and Prince Edward Island has 16 per cent or $57 million.
3. CRYPTOCURRENCY CONSULTATIONS
The financial statement contains an announcement that consultations are launching right away — the same day as its release Thursday — on digital currencies “including cryptocurrencies, stablecoins and central bank digital currencies.”
Canada’s fiscal framework needs to keep pace with the rise of the currencies and how the digitization of money is “transforming financial systems in Canada and around the world,” the document says.
And the government is also seeking to understand the challenges digital currency poses to democratic institutions, with some types of crypto being used to avoid global sanctions and fund illegal activities.
The new consultations follow a legislative review announced in last spring’s budget. They also follow attacks on new Conservative Leader Pierre Poilievre for his suggestion during the Tory leadership campaign that cryptocurrencies could help Canadians “opt out” of inflation — an assertion that Liberals have ridiculed after the value of cryptocurrencies plummeted earlier this year.
In a separate process, the Bank of Canada has studied the potential for a central bank digital currency. It has said it doesn’t anticipate the need for it right now but wants to be prepared if that changes in the future.
4. TRUCKERS’ RIGHTS
Individual truckers may have formed the genesis of the “Freedom Convoy” protest that descended on Ottawa last winter and prompted the Liberals’ use of emergency powers to clear protesters — a decision currently being scrutinized at a high-profile public inquiry.
But Liberals are signalling their support for the industry with their mini-budget, putting $26.3 million over five years toward orders, fines and prosecutions against non-compliant trucking industry employers.
The money seeks to address the ongoing issue of companies having truck drivers self-incorporate and operate as independent contractors instead of being classified as employees. This denies them labour rights including paid sick leave, health and safety standards and employment insurance and pension contributions, the document says.
The Canada Revenue Agency is also working to “encourage greater awareness” and “foster compliance” with tax rules that govern the use of incorporated employees, something the feds say they will elaborate on in next spring’s budget.
5. IMMIGRATION SUPPORT
The fall statement unveils the amount of funding Liberals expect to put toward a new immigration strategy they unveiled earlier in the week.
On Tuesday, the government announced that it will seek to increase immigration to record levels, bringing in 500,000 arrivals in 2025. Liberals plan for the majority to be skilled workers who can help fill labour shortages in healthcare, manufacturing and the building trades.
Support for the processing of applications and settlement of new permanent residents will cost $1.6 billion over six years and $315 million in new, ongoing funding, the fall statement says.
With Liberals facing criticism for bottlenecks in Canada’s immigration process, another $50 million will go toward the immigration department in the current fiscal year “to address ongoing application backlogs, speed up processing and allow for skilled newcomers to fill critical labour gaps faster.”
This report by The Canadian Press was first published Nov. 3, 2022.
EDMONTON – RCMP say a second suspect has been arrested in the killing of an Alberta county worker.
Mounties say 28-year-old Elijah Strawberry was taken into custody Friday at a house on O’Chiese First Nation.
Colin Hough, a worker with Rocky View County, was shot and killed while on the job on a rural road east of Calgary on Aug. 6.
Another man who worked for Fortis Alberta was shot and wounded, and RCMP said the suspects fled in a Rocky View County work truck.
Police later arrested Arthur Wayne Penner, 35, and charged him with first-degree murder and attempted murder, and a warrant was issued for Strawberry’s arrest.
RCMP also said there was a $10,000 reward for information leading to the arrest of Strawberry, describing him as armed and dangerous.
Chief Supt. Roberta McKale, told a news conference in Edmonton that officers had received tips and information over the last few weeks.
“I don’t know of many members that when were stopped, fuelling up our vehicles, we weren’t keeping an eye out, looking for him,” she said.
But officers had been investigating other cases when they found Strawberry.
“Our investigators were in O’Chiese First Nation at a residence on another matter and the major crimes unit was there working another file and ended up locating him hiding in the residence,” McKale said.
While an investigation is still underway, RCMP say they’re confident both suspects in the case are in police custody.
This report by The Canadian Press was first published Sept. 13, 2024.
RICHMOND, B.C. – The Integrated Homicide Investigation Team says the 26-year-old son of a man found dead on British Columbia’s Sunshine Coast has been charged with his murder.
Police say 58-year-old Henry Doyle was found badly injured on a forest service road in Egmont last September and died of his injuries.
The homicide team took over when the BC Coroners Service said the man’s death was suspicious.
It says in a statement that the BC Prosecution Service has approved one count of first-degree murder against the man’s son, Jackson Doyle.
Police say the accused will remain in custody until at least his next court appearance.
The homicide team says investigators remained committed to solving the case with the help of the community of Egmont, the RCMP on the Sunshine Coast and in Richmond, and the Vancouver Police Department.
This report by The Canadian Press was first published Sept. 13, 2024.
VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, have broken off without an agreement following 15 hours of talks.
Joe McCann, president of Amalgamated Transit Union Local 1724, says they stayed at the bargaining table with help from a mediator until 2 a.m. Friday and made “some progress.”
However, he says the union negotiators didn’t get an offer that they could recommend to the membership.
McCann says that in some ways they are close to an agreement, but in other areas they are “miles apart.”
About 600 employees of the door-to-door transit service for people who can’t navigate the conventional transit system have been on strike since last week, pausing service for all but essential medical trips.
McCann asks HandyDART users to be “patient,” since they are trying to get not only a fair contract for workers but also a better service for customers.
He says it’s unclear when the talks will resume, but he hopes next week at the latest.
The employer, Transdev, didn’t reply to an interview request before publication.
This report by The Canadian Press was first published Sept. 13, 2024.
