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Carney Rolls Out Legislation to Fast-Track National Infrastructure Projects
On June 6, Bill C-5, which implements a fast-tracking process for infrastructure projects, had its first reading in the House of Commons. Twenty days later, on June 26, it received Royal Assent, marking the official ratification of the Bill. The Bill has two parts: the Building Canada Act and the Free Trade and Labour Mobility Act.
Canadian Dollar Weakens Amid Tariff Threat
The Canadian dollar’s equivalent US value has dropped from about 75 cents USD — its highest value in 2024 — to today’s value of about 70 cents USD, and experts warn it may continue to drop. Economists point to incoming American tariffs on Canadian goods, and Canada’s potential counter-tariffs, as the leading cause of the loonie’s depreciation.
Not All That Glitters is Gold: How Inflation in Northern Canada Differs from Southern Canada
After reaching 6.8 per cent earlier this year, Canada’s inflation rate has begun to near its goal of 2 per cent once again. Food and gas prices have decreased, and many other commodities aren’t priced as high as they were earlier this year.
OPINION | Will Federal Incompetence Quash BC’s Housing Efforts?
The average price of a home in Canada was $729,044 as of May 2023, according to the Canadian Real Estate Association. In Metro Vancouver, that figure increases to $1,188,000, according to the Real Estate Board of Greater Vancouver.
Grocery Rebate to Offset Inflation
In response to the rising food costs, a one-time grocery rebate will be offered to “low- and modest-income Canadians and families”, according to the Government of Canada’s website.
Experts Weigh In on Canadian Economic Recession Fears
As inflation and interest rates remain high in Canada, many economists and financial analysts are warning Canadians of an economic recession that is bound to happen sometime this year.
Canadian Inflation hits 8.1 per cent, a forty year peak
Canada hit a 40 year peak inflation rate of 8.1 per cent in June, much higher than the 2 per cent target that the Bank of Canada aims for. The last time Canada saw such a spike was in 1982, when inflation hit 10.8 per cent.
Canada’s Canola Oil Shortage
The price for canola oil is increasing and alternatives are now being broadly used with some families unable to afford the high-priced commodity.