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Prime Minister Mark Carney’s government has “limited room to cut taxes” with the fiscal deficit projected to balloon after Budget 2025, a report by the Parliamentary Budget Office said on Thursday. The PBO published its independent assessment of Budget 2025, highlighting “financial pressures and concerns about transparency.”“According to the PBO, the Government has limited room to cut taxes or increase spending if it wants to keep the federal debt-to-GDP ratio in 2055–56 at or below its current level,” the PBO said in a press release accompanying the report.The debt-to-GDP ratio is an economic metric that measures a country’s debt against the total value of goods and services produced in the country. 4:47 ...

By Staff The Canadian Press Posted November 13, 2025 5:11 pm 1 min read Descrease article font size Increase article font size Alberta Premier Danielle Smith said she’s on board with Prime Minister Mark Carney’s second batch of key major projects picked out for potential fast-track approval. Carney announced Thursday seven additional major energy and infrastructure projects were being referred to the government’s major projects office.Those projects include a nickel mine in northern Ontario, a hydroelectric project in Iqaluit, and a transmission line and an LNG project that are both in northwest British Columbia. ...

Canada is taking “positive” steps to boost its defence spending and military presence in Europe, but Canadians themselves need to take collective responsibility toward national security to counter growing threats from nations like Russia, Latvia’s envoy says. In an interview with Global News in Vancouver, Kaspars Ozoliņš, Latvia’s ambassador to Canada, said “unfriendly countries” are not limited to geography as a means to influence or attack other nations, using everything from cyberattacks to disinformation. That requires businesses and civil society to defend critical infrastructure alongside government and military forces, he stressed.“It’s not just about whether you spend two per cent or five per cent (of GDP on defence),” he said.“There is an increased understanding (in Latvia) that i...

Prime Minister Mark Carney is in Terrace, B.C., Thursday to announce the next batch of major projects the government is submitting for possible fast-track approval. A senior Ontario government source tells The Canadian Press the Crawford Nickel Project will be among the projects Carney announces he is forwarding to the new Major Projects Office.Ontario Premier Doug Ford said Wednesday he was pleased to hear the project was among those selected, but lamented the lack of progress on other projects.“Let’s get out of our way when it comes to the Ring of Fire,” Ford said, referring to planned mining projects in northern Ontario. 1:51 Carney in B.C. to announce next round of major projects ...