The federal government will release its long-awaited fiscal update today — a spending plan to help Canadians cope with COVID-19 while recharging the national economy and key sectors battered by the global crisis.
Deputy Prime Minister and Finance Minister Chrystia Freeland will rise in the House of Commons at 4 p.m. ET today to outline details of her plan to both boost job creation and cut greenhouse gas emissions.
Government sources have told CBC News the plan will include new but time-limited spending measures to support hard-hit industries and vulnerable Canadians, while laying the groundwork for the policy priorities presented in September’s speech from the throne.
CBC will have live coverage of today’s fiscal update starting at 4 p.m. ET. Watch it on CBC News Network, listen to it on CBC Radio One or stream it on CBC Gem or our CBC News app.
The update comes in the wake of optimistic reports suggesting promising vaccine candidates could roll out early in the new year — and as COVID-19 caseloads continue to grow alarmingly in some parts of the country. Numbers have reached record highs in some regions, prompting new or extended restrictions and business closures.
The measures in today’s economic statement are expected to include:
Support for airlines and the tourism and hospitality sector, hit hard by heavy losses due to border closures and lockdowns. The sources suggest the update will include assistance for airlines, hotels and restaurants, and for the companies that supply them.
Money to help long-term care homes stop the spread of infections.
Support to help women return to work.
Stimulus spending for infrastructure projects tied to the government’s promise to reduce greenhouse gas emissions as part of the economic recovery.
The Trudeau Liberals last delivered an actual budget in March 2019, when they were still in their first mandate.
The Trudeau government has pushed back at calls to deliver an economic forecast since the current health crisis began, maintaining that the pandemic made it impossible to accurately predict economic growth or the scope of necessary emergency spending.
Conservative Leader Erin O’Toole said the government’s delays in procuring rapid testing and vaccines have put workers and the economy in a “risky” situation.
“There is no plan for the economy if we don’t have rapid testing and vaccines as swiftly as possible,” he said during a news conference in Ottawa Sunday.
“We’re already seeing small businesses teetering on the edge. That is leading to the uncertainty and the concern out there about the wellbeing of tens of thousands of Canadian families that have invested everything in their restaurant or their autoshop or a range of businesses that are close to bankruptcy.”
WATCH | What to expect in the long-awaited fiscal update:
CBC News’s David Cochrane breaks down what Finance Minister Chrystia Freeland is expected to announce in Monday’s federal fiscal update, including details on the deficit and new pandemic spending. 1:16
NDP Leader Jagmeet Singh said today’s update is the perfect opportunity to announce “bold measures” to address the needs of the Canadians most severely affected by the pandemic.
“The COVID-19 pandemic has shown how fragile the services that were supposed to help people are, and the importance of strengthening our social safety net so that no one is left behind,” he told CBC News.
NDP pushes for child care support
The NDP is calling on the federal government to fund child care services that would allow more parents to return to work safely. It’s also pressing the government to launch a universal pharmacare program.
Green Party Leader Annamie Paul said it’s not enough for the government to present a “laundry list” of spending today. With a vaccine expected next year, she said, it must present a green recovery plan with economic and social investments.
“With a glimmer of hope on the horizon, it is vital that we seize this moment to prepare a green recovery plan that will engage every possible innovation, technology and resource at Canada’s disposal to enhance our ability to face challenges,” she said.
The Green Party is calling for a guarantee that any supports the Liberals offer carbon-intensive sectors are “responsible and conditional.” It also wants to see larger investments in projects and sectors that speed up progress toward a net-zero emissions economy.
Business hopes to see long-term growth plan
Business groups say they hope to see a plan today that charts a course through the ongoing crisis to long-term economic recovery and growth.
Canadian Chamber of Commerce president and CEO Perrin Beatty said he wants to see a shift from broad supports to smaller, more targeted federal programs to help the most vulnerable Canadians and sectors, including the restaurant, accommodation, arts and entertainment and retail sectors.
He said he hopes to see a plan that will boost Canada’s business investment and competitiveness — and not a suite of “unaffordable” new permanent programs.
“Even as we navigate our way through this second wave of the pandemic, Canada needs its government to set the conditions for a strong, business-led recovery. Canadian families and businesses continue to pay a high price because of COVID-19, and the hard work of getting Canada’s economy ready for recovery must start now with a clear and coherent plan,” he said in a media statement.
Deputy Prime Minister and Minister of Finance Chrystia Freeland responds to a question in the House of Commons Monday, November 23, 2020. (Adrian Wyld/The Canadian Press)
Cash-strapped municipalities are also looking for good news in today’s statement.
Federation of Canadian Municipalities president Garth Frizzell said he hopes to see “clear successor arrangements” to the safe restart agreement, which saw the federal government set aside $19 billion for the provinces to help them weather the second wave and drive job growth post-pandemic.
“The fall economic statement is an opportunity to build on the federal-municipal partnership that has kept Canadians safe, and essential front line services running strong, since the beginning of the pandemic,” he said.
“They rely on us to keep doing that through 2021, and that’s why municipalities need to see a clear commitment that the federal government will continue to work with us to ensure support for municipal operating and transit costs.”
Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.
In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.
Your level of interest in the company and the role.
Contributing to your employer’s success is essential.
You desire a cultural fit.
Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:
“What are the key responsibilities of this position?”
Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”
“What does a typical day look like?”
Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.
“How would you describe the company culture?”
Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”
Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.
“What opportunities are there for professional development?”
When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.
Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.
Here are my four go-to questions—I have many more—to accomplish this:
“Describe your management style. How will you manage me?”
This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.
“What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”
This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”
“When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”
Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.
“If I wanted to sell you on an idea or suggestion, what do you need to know?”
Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.
Other questions I’ve asked:
“What keeps you up at night?”
“If you were to leave this company, who would follow?”
“How do you handle an employee making a mistake?”
“If you were to give a Ted Talk, what topic would you talk about?”
“What are three highly valued skills at [company] that I should master to advance?”
“What are the informal expectations of the role?”
“What is one misconception people have about you [or the company]?”
Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.
Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.
CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.
The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.
Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.
Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.
On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.
The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Oct. 31, 2024.
CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.
The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.
Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.
Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.
Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.
On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.
This report by The Canadian Press was first published Oct. 31, 2024.
