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COVID response closed more Canadian businesses than 2008 financial crisis: gov’t report

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From LifeSiteNews

By Clare Marie Merkowsky

StatsCan revealed that they are witnessing an increase in ‘zombie businesses,’ a phenomenon which occurs when owners never file for bankruptcy but simply walk away from their business.

Statistics Canada has revealed that more businesses closed as a result of the COVID-induced economic downturn than the 2008 financial crisis.

On October 25, Statistics Canada reported that the COVID-19 “pandemic” caused a record number of small businesses to shut down, with many owners never filing for bankruptcy but instead simply walking away from their companies, resulting in a large uptick in a phenomenon called “zombie businesses,” according to information obtained by Blacklock’s Reporter. 

“This finding represents a larger increase than observed during the 2008 financial crisis when the exit rate increased by one percentage point,” wrote analysts.  

The 2007- 2008 financial crisis, also called the Global Financial Crisis, is considered the most severe worldwide economic crisis since the Great Depression of 1929. 

Business exits refer to the permanent closure of a business and can occur without a formal process, meaning owners can walk away from their businesses without declaring bankruptcy.  

According to StatsCan, exits increased at the same time as bankruptcies fell, which is partly because courts were closed due to COVID lockdowns.   

However, analysts noted that exits did not appear in bankruptcy court statistics, adding, “Formal insolvencies are not the whole story. Formal insolvency is but one path a business in distress may take.” 

“The COVID-19 pandemic had a substantial impact on business dynamics leading to the temporary or permanent closure of many businesses,” analysts continued. 

According to a Department of Industry estimate, Canada had 1,198,632 small businesses before COVID lockdowns. While the number has been revealed to have decreased drastically since then, federal agencies have failed to record comprehensive figures on the economic impact of COVID lockdowns and regulations.  

According to a 2022 Bank of Canada survey, only an estimated half of businesses reopened after being closed by COVID lockdowns. The research tracked 12,976 businesses throughout Vancouver, Toronto and Ottawa including bars, restaurants, shops, nightclubs and motels, which were locked down by COVID regulations in April and May 2021. 

“Half of businesses recorded as temporarily closed in May had reopened by the end of September,” the Bank reported. “Forty percent were still hibernating. Ten percent were closed for good.” 

Statistics Canada’s report comes as Liberals MPs recently opted for a closed-door review by Minister of Health advisers of how the Canadian government handled the COVID-19 “pandemic” instead of launching a public inquiry. 

In recent months, numerous reports have emerged revealing the Trudeau government’s mismanagement during the COVID-19 “pandemic.” 

In a 2021 report Pandemic Preparedness, the Auditor General revealed that the cabinet was “not adequately prepared.” 

Furthermore, Lessons Learned From The Public Health Agency Of Canada’s COVID-19 Response, an internal audit, condemned managers for “confusion,” “limited public health expertise” and “no clear understanding” of how to compile critical data. 

Additionally, former Finance Minister Bill Morneau declared that spending programs to tackle COVID were prolonged and led to inflation under Prime Minister Justin Trudeau’s leadership. 

During the so-called COVID-19 pandemic, the Trudeau government issued billions to Canadians who claimed they needed Canadian Emergency Response Benefits (CERB) as they were not permitted to work under COVID regulations. 

Recently, the Canadian Revenue Agency (CRA) has worked to take back the $3.2 billion from Canadians who filed for and were given CERB despite not being eligible to receive it. However, many are fighting in court to keep their government payments. 

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Alberta

Alberta announces citizens will have to pay for their COVID shots

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From LifeSite News

By Anthony Murdoch

The government said that it has decided to stop ‘waste’ by not making the shots free starting this fall.

Beginning this fall, COVID shots in the province will have to be pre-ordered at the full price, about $110, to receive them.  (This will roll out in four ‘phases’. In the first phases COVID shots will still be free for those with pre-existing medical conditions, people on social programs, and seniors.)

The UCP government in a press release late last week noted due to new “federal COVID-19 vaccine procurement” rules, which place provinces and territories as being responsible for purchasing the jabs for residents, it has decided to stop “waste” by not making the jab free anymore.

“Now that Alberta’s government is responsible for procuring vaccines, it’s important to better determine how many vaccines are needed to support efforts to minimize waste and control costs,” the government stated.

“This new approach will ensure Alberta’s government is able to better determine its overall COVID-19 vaccine needs in the coming years, preventing significant waste.”

The New Democratic Party (NDP) took issue with the move to stop giving out the COVID shots for free, claiming it was “cruel” and would place a “financial burden” on people wanting the shots.

NDP health critic Sarah Hoffman claimed the move by the UCP is health “privatization” and the government should promote the abortion-tainted shots instead.

The UCP said that in 2023-2024, about 54 percent of the COVID shots were wasted, with Health Minister Adriana LaGrange saying, “In previous years, we’ve seen significant vaccine wastage.”

“By shifting to a targeted approach and introducing pre-ordering, we aim to better align supply with demand – ensuring we remain fiscally responsible while continuing to protect those at highest risk,” she said.

The jabs will only be available through public health clinics, with pharmacies no longer giving them out.

The UCP also noted that is change in policy comes as a result of the Federal Drug Administration in the United States recommending the jabs be stopped for young children and pregnant women.

The opposite happened in Canada, with the nation’s National Advisory Committee on Immunization (NACI) continuing to say that pregnant women should still regularly get COVID shots as part of their regular vaccine schedule.

The change in COVID jab policy is no surprise given Smith’s opposition to mandatory shots.

As reported by LifeSiteNews, early this year, Smith’s UCP government said it would consider halting COVID vaccines for healthy children.

Smith’s reasoning was in response to the Alberta COVID-19 Pandemic Data Review Task Force’s “COVID Pandemic Response” 269-page final report. The report was commissioned by Smith last year, giving the task force a sweeping mandate to investigate her predecessor’s COVID-era mandates and policies.

The task force’s final report recommended halting “the use of COVID-19 vaccines without full disclosure of their potential risks” as well as outright ending their use “for healthy children and teenagers as other jurisdictions have done,” mentioning countries like “Denmark, Sweden, Norway, Finland, and the U.K.”

The mRNA shots have also been linked to a multitude of negative and often severe side effects in children and all have connections to cell lines derived from aborted babies.

Many Canadian doctors who spoke out against COVID mandates and the experimental mRNA injections were censured by their medical boards.

LifeSiteNews has published an extensive amount of research on the dangers of the experimental COVID mRNA jabs that include heart damage and blood clots.

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Carney’s European pivot could quietly reshape Canada’s sovereignty

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This article supplied by Troy Media.

Troy Media By Isidoros Karderinis

Canadians must consider how closer EU ties could erode national control and economic sovereignty

As Prime Minister Mark Carney attempts to deepen Canada’s relationship with the European Union and other supranational institutions, Canadians should be asking a hard question: how much of our national independence are we prepared to give away? If you want a glimpse of what happens when a country loses control over its currency, trade and democratic accountability, you need only look to Bulgaria.

On June 8, 2025, thousands of Bulgarians took to the streets in front of the country’s National Bank. Their message was clear: they want to keep the lev and stop the forced adoption of the euro, scheduled for Jan. 1, 2026.

Bulgaria, a southeastern European country and EU member since 2007, is preparing to join the eurozone—a bloc of 20 countries that share the euro as a common currency. The move would bind Bulgaria to the economic decisions of the European Central Bank, replacing its national currency with one managed from Brussels and Frankfurt.

The protest movement is a vivid example of the tensions that arise when national identity collides with centralized policy-making. It was organized by Vazrazdane, a nationalist, eurosceptic political party that has gained support by opposing what it sees as the erosion of Bulgarian sovereignty through European integration. Similar demonstrations took place in cities across the country.

At the heart of the unrest is a call for democratic accountability. Vazrazdane leader Konstantin Kostadinov appealed directly to EU leaders, arguing that Bulgarians should not be forced into the eurozone without a public vote. He noted that in Italy, referendums on the euro were allowed with support from less than one per cent of citizens, while in Bulgaria, more than 10 per cent calling for a referendum have been ignored.

Protesters warned that abandoning the lev without a public vote would amount to a betrayal of democracy. “If there is no lev, there is no Bulgaria,” some chanted. For them, the lev is not just a currency: it is a symbol of national independence.

Their fears are not unfounded. Across the eurozone, several countries have experienced higher prices and reduced purchasing power after adopting the euro. The loss of domestic control over monetary policy has led to economic decisions being dictated from afar. Inflation, declining living standards and external dependency are real concerns.

Canada is not Bulgaria. But it is not immune to the same dynamics. Through trade agreements, regulatory convergence and global commitments, Canada has already surrendered meaningful control over its economy and borders. Canadians rarely debate these trade-offs publicly, and almost never vote on them directly.

Carney, a former central banker with deep ties to global finance, has made clear his intention to align more closely with the European Union on economic and security matters. While partnership is not inherently wrong, it must come with strong democratic oversight. Canadians should not allow fundamental shifts in sovereignty to be handed off quietly to international bodies or technocratic elites.

What’s happening in Bulgaria is not just about the euro—it’s about a people demanding the right to chart their own course. Canadians should take note. Sovereignty is not lost in one dramatic act. It erodes incrementally: through treaties we don’t read, agreements we don’t question, and decisions made without our consent.

If democracy and national control still matter to Canadians, they would do well to pay attention.

Isidoros Karderinis was born in Athens, Greece. He is a journalist, foreign press correspondent, economist, novelist and poet. He is accredited by the Greek Ministry of Foreign Affairs as a foreign press correspondent and has built a distinguished career in journalism and literature.

Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.

 

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