adplus-dvertising
Connect with us

News

Consumer sentiment slightly improves, but still subdued: BoC survey

Published

 on

The Bank of Canada says consumers were less pessimistic about their finances as summer wound down but are still not upbeat about the situation.

The central bank’s survey of consumer sentiment found fewer Canadians expected their finances to worsen over the next year.

It attributed the improvement to lower inflation and recent cuts in the bank’s policy interest rate.

However, even as consumers are becoming more optimistic, the bank says they have reduced their spending because they expect interest rates to remain elevated.

An accompanying survey of businesses found companies in the country also had a subdued outlook from July to September.

They reported muted inflationary pressures as demand weakened, firms had excess capacity and price growth slowed.

This report by The Canadian Press was first published Oct. 11, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Federal government forgoing $15 million in rental fees for Jasper businesses, town

Published

 on

 

JASPER, ALTA. – The government of Canada will forgo up to $15.2 million in rental fees charged to the municipality of Jasper, Alta., as well as its residents and business owners over the next few years.

A devastating wildfire destroyed one-third of the Rocky Mountain tourist town in July, including 800 units of housing.

Because Jasper is located within a national park, residents, business owners and the town itself lease their homes and buildings from Parks Canada.

Although the fees included in the lease agreements vary, and in the case of residential homes and businesses in town the fee is just $1, Employment Minister Randy Boissonnault said Thursday this rent relief will help the town recover from the damage.

On Wednesday, Boissonnault was appointed by Prime Minister Justin Trudeau as the federal government’s ministerial lead on the Jasper rebuild.

“This rent relief will support lessees and licensees whose properties have been affected and are experiencing financial hardship and new costs to rebuild or repair damaged properties,” said Boissonnault in a news release.

Parks Canada has nearly 1,300 lease agreements in town, and 139 leases within the park.

The municipality won’t pay rent on its facilities to Parks Canada until 2027, while a few dozen businesses in the park that pay market rent will receive partial or full rent forgiveness until 2026 depending on fire damage and revenue.

Jasper Mayor Richard Ireland said in a release Thursday that the town is grateful for the government’s decision.

“By continuing to work effectively together, we can ensure that our local businesses and residents have the supports they need to help in our recovery process,” Ireland said.

Boissonnault also announced Thursday that certain backcountry camping spots in the park are now open for booking for the fall and winter season.

He also said that Maligne Road, which provides vehicle access to the famed Maligne Lake, will reopen on Friday.

This report by The Canadian Press was first published Oct. 10, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

News

Alberta recommits $1.53B to Calgary Green Line LRT construction

Published

 on

 

EDMONTON – A month after announcing its money would be off the table, the Alberta government says it’s recommitting its $1.53-billion share towards Calgary’s beleaguered Green Line light rail project.

It’s prompted Alberta NDP Leader Naheed Nenshi to accuse the government of incompetence he claims could still cost taxpayers another $1 billion in penalties over cancelled contracts.

Transportation Minister Devin Dreeshen and Calgary Mayor Jyoti Gondek said in a joint statement Thursday they’ve agreed to continue work on the southern leg of what was a $6.2-billion transit project.

Calgary city council voted to wind it down last month after Dreeshen said the province would pull its funding without a redesign and extension of the Green Line’s route.

The city estimated it would cost $850 million to shut it down on top of the $1.3 billion already spent, but in late September Gondek made a last-ditch effort to ask the province to help salvage some pieces of the project they could agree on.

The two leaders said the province’s previously committed money will be available to support continuing work on the transit line, preserving more than 700 jobs.

In the meantime, a consulting firm hired by the province continues to work on a new alignment to meet Dreeshen’s demand that the downtown section not go underground.

Dreeshen has criticized the Green Line as a multibillion-dollar boondoggle that was poorly engineered and not properly costed from the beginning.

In recent months, the minister has pointed the finger at former Calgary mayor Nenshi – now Alberta NDP leader – calling it the “Nenshi nightmare.”

For his part, Nenshi has blamed the UCP government for delays that led to added costs.

In a statement Thursday, Nenshi said the United Conservative Party government is desperately backing down and trying to solve a catastrophe of its own making.

“Minister Dreeshen told hundreds of workers that they were OK in August, that they would lose their jobs in September, and now in October that they’ll be OK until Christmas. Maybe. These are real people, Minister Dreeshen, and they deserve better from you,” said Nenshi.

Nenshi said financial penalties for cancelled contracts will still cost taxpayers and called for a full public accounting.

As for the city’s previous vision for the Green Line, Gondek told reporters Thursday it is still being wrapped up.

“That project is over. That project was terminated on Sept. 3 when we heard from the province of Alberta that they didn’t wish to carry on with that alignment. This is a new project,” said Gondek.

The final bill for the wind-down remains to be seen, and it’s unclear how spending in the interim might be limited, she said.

“For now, we’re progressing work on an LRT that’s much needed in our city,” she said.

The federal government, which also committed to putting $1.53 billion into the previous iteration of the Green Line, will need to weigh in on whatever the new alignment might be.

The Calgary Construction Association welcomed Thursday’s announcement, saying it gets the project back on track.

“The Green Line LRT is essential not only for connecting hundreds of thousands of Calgarians but also for driving job creation and economic growth in our city,” said president and CEO Bill Black in a statement.

This report by The Canadian Press was first published Oct. 10, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

News

Alberta nurses to hold ratification vote on mediator-recommended agreement

Published

 on

EDMONTON – Nurses in Alberta are set to vote later this month on a mediator’s recommended settlement with their employers.

The United Nurses of Alberta says an online ratification vote will take place on Oct. 30.

It says the mediator is recommending pay increases ranging from 12 to 22 per cent over four years, as well as significant hikes to some pay premiums.

The union had been seeking 30 per cent pay raises over two years while the Alberta government’s standing offer is 7.5 per cent over four years.

Nurses had been mulling next steps, including a possible strike vote, because recent contract talks with the province had been faltering over disagreements around pay and staffing.

The United Nurses of Alberta represents more than 30,000 nurses and the proposed deal involves five employers, including Alberta Health Services and Covenant Health.

This report by The Canadian Press was first published Oct. 10, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

Trending