Prime Minister Justin Trudeau and his ministers wrapped up a three-day cabinet retreat today with a promise to keep Canadians safe during the pandemic while building a cleaner, more resilient economy.
The government is set to outline its refocused agenda in a speech from the throne Sept. 23. Initially, Trudeau had promised an ambitious green economic recovery plan — but he signalled today that the government’s immediate focus is on managing the public health crisis as COVID-19 cases continue to rise across the country.
Trudeau said the pandemic has exposed gaps in Canada’s social safety net and the government will work to help those who are falling through the cracks.
“I think we definitely need to work together to ensure that we are there for one another, because not only does it help us get through this pandemic in better situations, but it’s who Canadians are, in being there for each other,” he said.
“And as we reflect on how to restart the economy, how to create good jobs for now and into the future, obviously the green sector and newer jobs and innovation and clean tech are going to be an essential part of building back better and building a stronger future.”
PM says he doesn’t want an election
The throne speech will lead to a confidence vote, which could trigger an election. Trudeau said he has confidence in Elections Canada’s ability to administer a vote during the pandemic but he doesn’t “want an election” right now.
“I do not want an election. I don’t think Canadians want an election. I think Canadians want politicians to work together to serve them, to build a better future for them and keep them safe during this COVID crisis,” he said.
WATCH / Prime Minister Justin Trudeau says he doesn’t want election
Prime Minister Justin Trudeau says Canadians don’t want an election this fall. 0:36
“I think it’s irresponsible to say that an election would be irresponsible. Our country and our institutions are stronger than that and if there has to be an election, we’ll figure it out.”
The minority Liberal government needs the support of one of the opposition parties to survive the confidence vote on the throne speech.
“What they say in the throne speech really doesn’t have that much impact,” he said.
“The budget bill might be a way for us to really gauge if the government is serious about following through (on its promises).”
Trudeau also announced today that $19 billion in federal funds to help the provinces and territories safely reopen their economies will now flow, after the government received letters from each of the premiers outlining how the money would be spent.
Under the safe restart agreement, federal funds are to be used in seven priority areas:
Testing, contact tracing and data management.
Ensuring health care system capacity.
Helping vulnerable populations.
Supporting municipalities.
Ensuring supplies of personal protective equipment for health and non-health workers.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
