Politics

The federal budget has signalled a shift in tone on the oil and gas sector, but experts say there’s still a lot of unknowns in how that will actually play out. “The nexus between energy security, economic security, and national security is clearer than ever before,” Finance Minister François-Philippe Champagne said in the opening paragraph of a budget that commits to furthering the country’s standing as an energy superpower.The budget included talk of potentially setting aside an emissions cap on oil and gas. It also includes measures like allowing the Canada Infrastructure Bank to support projects in the sector rather than limiting it to sustainability-linked projects.The various moves show a government that’s more willing to acknowledge the strategic role of the oil and gas industry that...

The federal budget unveiled by the government this week includes measures to strengthen border security and modernize screening of cross-border travellers, but details on the latter so far are slim. The new spending proposals will complement the $1.3-billion border security plan announced last December, of which $81 million has been allocated for spending by the end of the current fiscal year, the government says.The budget proposes $14.8 million over the next four years to Transport Canada “to develop and implement a new preclearance access regime, ensuring a more secure transportation system for all Canadians.”The document says the funding will also go toward “digital solutions to maximize efficiency in security screening activities,” particularly for transportation facility employees.Th...

Zohran Mamdani was elected mayor of New York City on Tuesday night, solidifying an ascent from relative political obscurity to one of the U.S.’s most notable left-wing leaders, buoyed by a promise to make the city affordable for those who call it home. In a record-breaking push to victory, the 34-year-old New York State Assembly member defeated former New York Gov. Andrew Cuomo, whose campaign was bankrolled in the millions by corporations including DoorDash and The Durst Organization as well as tech companies, real estate developers and former mayor Michael Bloomberg — who donated $3.5 million on Oct. 29, campaign finance records show — and Republican candidate Curtis Sliaw. 1:50 ...

Prime Minister Mark Carney said it was “exceptionally valuable” for former Conservative MP Chris d’Entremont to cross the aisle and join the Liberal Party as the federal government tabled its budget. Nova Scotia MP Chris d’Entremont resigned from the Conservative caucus to join the Liberals Tuesday, and became the first member of Parliament to cross the floor since the April election.“I would especially like to thank Chris d’Entremont, the member of Parliament for Acadie-Annapolis — I’m honored to welcome him as the newest member of our government caucus,” said Carney speaking in Ottawa Wednesday.“Chris’s decision to join the government caucus at this crucial moment for our country is exceptionally valuable and important. “The comments came at the start of Carney’s press conference to prom...

U.S. President Donald Trump’s power to unilaterally impose far-reaching tariffs is coming before the Supreme Court on Wednesday in a pivotal test of executive power with trillion-dollar implications for the global economy. The Republican administration is trying to defend the tariffs central to Trump’s economic agenda after lower courts ruled the emergency law he invoked doesn’t give him near-limitless power to set and change duties on imports.The Constitution says Congress has the power to levy tariffs. But the Trump administration argues that in emergency situations the president can regulate importation taxes like tariffs. Trump has called the case one of the most important in the country’s history and said a ruling against him would be catastrophic for the economy. ...

Canada will see cuts to temporary immigration over the next three years, the federal government said in its budget document on Tuesday, with targets effectively freezing for permanent residents. The federal government announced its 2026-28 Immigration Levels Plan as part of its budget, which was tabled by Finance Minister Francois-Philippe Champagne in the House of Commons on Tuesday.Each year, the government announces the number of permanent residents it plans to bring in over the next few years. Last year, the government also started setting targets for temporary immigration. 1:35 Canada has opportunity to attract new talent after Trump raises US H-1B visas to $100K: Carney ...

The federal government unveiled plans Tuesday to shell out $73 billion for national defence by the end of the decade — a staggering sum as Canada positions itself to meet aggressive NATO spending commitments. The massive defence spending plan — which is light on specifics but presents hefty dollar figures — also hints at what’s in the government’s promised Defence Industrial Strategy and even teases a new “sovereign space-launch capability.”Finance Minister François-Philippe Champagne’s first budget touts a towering topline figure of $81.8 billion on a cash basis over five years to build up the Canadian Armed Forces. 3:17 Canada Budget 2025: Economist says private sector wanted ‘bolder’ incenti...

By Staff The Canadian Press Posted November 4, 2025 6:25 pm 1 min read Descrease article font size Increase article font size Here’s a brief look at the key numbers in the Liberal government’s 2025 budget: —$20.1 billion: Total net new government spending for the 2025-26 fiscal year.—$89.7 billion: Total of net new budget spending items over five-year timeline of budget plan, including a projected $51.2 billion in cost savings.—$78.3 billion: The total deficit for this fiscal year — more than double estimates for last year. Get weekly money news Get expert insights, Q&A on markets, housi...

The Liberal government’s new federal budget is proposing cuts and reductions to prominent policies once championed by the party, including the luxury tax on boats and private planes, a tax on underused homes and potentially the greenhouse gas emission targets. Other measures include a “super-reduction” to Canada’s marginal effective tax rate and further automating traveller screening at the nation’s airports, which the government says will help deliver “efficiencies” along with the rest of the public sector.Here’s a rundown of what the budget proposes to cut. Ending luxury, unused house tax The government is proposing to eliminate the “inefficient” Underused Housing Tax and the luxury tax on private aircraft and vessels, which the budget says “will result in adm...

By Anja Karadeglija The Canadian Press Posted November 4, 2025 6:38 pm 1 min read Descrease article font size Increase article font size The Liberal government’s plans for CBC/Radio-Canada include looking at getting Canada into the Eurovision international song contest. A line in the new federal budget’s section on CBC says the government is working with the public broadcaster to explore participation in the popular song contest. 2:37 Canada budget 2025: Carney’s ‘generational budget’ brings nearly $80 billion deficit  ...