Canadian federal budget articles
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Canada’s Federal Budget Aims to Curb Overdraft Fees
Canada’s federal budget, released this week, includes a proposal to limit the fees that banks charge customers for overdrawing their accounts. This move is expected to provide relief for low-income clients but could potentially impact the revenue of Canadian banks, Bloomberg reported Thursday (April 18). The proposed cap would be 10 Canadian dollars ($7) for non-sufficient funds […]
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Macklem says he doesn't think federal budget will have much of an impact on inflation
OTTAWA - Bank of Canada governor Tiff Macklem said he doesn't think the federal budget tabled last month will have much of an effect on inflation. Macklem was testifying at a Senate committee alongside senior deputy governor Carolyn Rogers on Wednesday following the central bank's latest interest rate announcement. The governor said the spending plan hasn't changed the federal government's fiscal track by much, since it's offset by higher revenues. “Since the government's net fiscal plan...
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Ottawa puts up $50M in federal budget to hedge against job-stealing AI
Worried artificial intelligence is coming for your job? So is the federal government — enough, at least, to set aside $50 million for skills retraining for workers. One of the centrepiece promises in the federal budget released Tuesday was $2.3 billion in investments aiming to boost adoption of the technology and the artificial intelligence industry in Canada. But tucked alongside that was a promise to invest $50 million over four years "to support workers who may be impacted by AI."...