Weekly Digest – 24 April 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Canadian Chamber of Commerce Policy experts’ insights on 2024 Federal Budget

Policy experts from the Canadian Chamber of Commerce have reviewed the Budget in detail, and their perspective on its implications for Canadian business.

Uncertainty in Canada’s tax landscape could weigh on investment

James Orlando, the director of economics at TD Bank, says Canada needs more tax certainty, following the federal government’s move to raise the inclusion rate on capital gains taxes for corporations and some high-earning individuals.

Canada’s capital gains tax rise will further knock productivity, say economists

Canada’s plan to raise taxes on the savings of wealthy people and corporations is likely to hold back investment, potentially adding to the productivity malaise that has held back economic growth in recent years, say economists.

New business grants, tax credits, and loans

 Business funding takeaways from the Canadian Federal Budget 2024 to help businesses navigate through economic uncertainties and seize growth opportunities.

Canadian economy to see modest growth in the first half of the year

The Canadian economy is expected to see positive growth in Q1 and Q2 2024, according to the latest Main Street Quarterly report by the Canadian Federation of Independent Business (CFIB).

How a ballooning public sector is reshaping Canada’s economy

The number of workers in Canada’s public sector has soared in recent years, outpacing the private sector, but economists warn the growth of government jobs is not sustainable in the long run.

Housing-focused budget misses infrastructure mark

The federal budget includes several measures aimed at building up Canada’s housing stock, but there are gaps, say key industry associations.

Freeland’s new federal budget hikes taxes on the rich to cover billions in new spending

With interest rates running high, cost to service the national debt surpasses federal health care spending. Finance Minister Chrystia Freeland’s fourth budget delivers a big-ticket housing program for millennials and Generation Z voters — a multi-billion dollar commitment to be paid for in part with a tax hike on the rich and corporate Canada.

Is assuming a mortgage an affordable way into the housing market?

For hopeful Canadian homebuyers feeling sidelined by the market’s higher interest rates, assuming a mortgage from a seller holding onto a lower rate can be an affordable way to skirt today’s sizeable borrowing costs. But experts say mortgage assumption comes with risks for the seller and some downsides for buyers that make it a rare feature in home sales.

Capital gains tax ‘last thing the Canadian economy needs,’ say business groups

Canadian business groups say the federal government’s proposed changes to capital gains taxes will have a chilling effect on investment in the country, with one industry association saying the policy is “the last thing the Canadian economy needs.”

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