Canadian economy

More than 77 per cent of Canadian exports go to the U.S. and trade comprises 60 per cent of Canada's gross domestic product. A significant proportion of that comes from oil and gas.

The survey by KPMG in Canada of 735 small- and medium-sized businesses says 87 per cent fear the Canadian economy could become "collateral damage" from American protectionist policies that lead to less favourable trade deals and increased tariffs

A federal inquiry into foreign interference has yet to present its initial report, but the Liberal government is already advancing plans to overhaul a suite of national security laws and procedures.

The parliamentary budget officer is projecting inflation will return to the Bank of Canada's two per cent target by the end of the year and the federal deficit will grow amid weakening economic conditions.

The Business Council of Canada is also urging the federal government to borrow a U.S. idea and create a new body that would ensure the intelligence is securely and broadly shared across the Canadian economy.

Canada's first-ever climate adaptation strategy was little more than six weeks old when fast-moving wildfires swept through communities in British Columbia's southern Interior, forcing thousands to flee and destroying hundreds of homes.

More competition is needed in Canada’s grocery sector as consumers grapple with higher food prices, said Finance Minister Chrystia Freeland, after two of the country's largest grocers reported higher sales and profits in the most recent quarter.

Finance Minister Chrystia Freeland is expected to table the federal government's fall economic statement on Nov. 21, 2023, a mini-budget that will serve as an update on federal finances and contain new measures that reflect the government's priorities.

Both traditional oil and gas stocks as well as Canada's mining and metals sector have benefited from a recent surge of investor interest in energy, new data from the Toronto Stock Exchange shows.

Parliamentary budget officer Yves Giroux told members of Parliament on Monday, November 28, 2022, that the federal government did not show fiscal restraint in its recent fall economic statement.

Senior federal bureaucrats examined whether cryptocurrencies protect against inflation not long after Opposition Leader Pierre Poilievre made the claim as a candidate in the Conservative leadership race, according to an internal government document.

Prime Minister Justin Trudeau and his cabinet are in Vancouver on Monday for the start of a three-day retreat as they prepare for a fall sitting of Parliament, a new Conservative leader, and the ongoing pressures of the COVID-19 recovery and inflation.

The Canadian economy stayed flat in May, with growth slowing down as businesses continue to face supply constraints and rising interest rates, though economists say the current cycle of interest rate increases is expected to continue into the fall.

For all the talk about deficits, supply chains and other knock-on impacts of the COVID-19 pandemic, oil and gas have applied the bulk of the inflationary pressure on both global economies and household budgets, writes columnist Max Fawcett.

Finance Minister Chrystia Freeland’s second pandemic budget turns Canada’s fiscal focus to making life more affordable and giving a long-needed boost to Canadian productivity.