Economy
Red Deer – Lacombe MP Blaine Calkins not impressed by first federal budget in 2 years
This is what happens when people think budgets balance themselves.
OTTAWA — Statistics Canada says the unemployment rate rose to 5.2 per cent in May, marking the first increase since August 2022.
The federal agency says overall employment was little changed last month as the economy lost a modest 17,000 jobs.
The job report comes two days after the Bank of Canada raised its key interest rate by a quarter of a percentage point, citing concerns about a string of hot economic data, including low unemployment.
The unemployment rate previously hovered at five per cent for five consecutive months.
Last month, there were fewer people working in business, building and other support services as well as professional, scientific and technical services, while employment rose in manufacturing, utilities and services such as maintenance.
Meanwhile, wages continued to grow rapidly in May, rising by 5.1 per cent compared to a year ago.
This report by The Canadian Press was first published June 9, 2023.
The Canadian Press
Parliamentarians passed the Liberal government’s budget bill today, rolling out new incentives for Canadians and support for Ukraine, while trumping the Conservatives attempt to block it all. Deputy Prime Minister and Minister of Finance Chrystia Freeland delivers the federal budget in the House of Commons on Parliament Hill in Ottawa, Tuesday, March 28, 2023. THE CANADIAN PRESS/Sean Kilpatrick
Ottawa
The House of Commons passed the Liberal government’s budget bill today, which seeks to roll out vast new incentives for clean energy and expending dental care subsidies — despite a Conservative attempt to hold it up.
The bill passed 177 to 146 with the support of Liberals and New Democrats, while the Tories and Bloc Québécois voted against it.
The bill includes a new anti-flipping tax for residential properties, a doubling of tradespeople’s tools deduction and an enhancement to the Canada workers benefit, a refundable tax credit to help low income workers.
It also codifies sanctions on Russia following its invasion of Ukraine, and raises tariffs on Russia and Belarus.
The Conservatives attempted earlier this week to delete much of the bill by introducing amendments eliminating 900 of its clauses, saying they want a plan to balance the budget amid projections that show no end to federal deficits in sight.
The Senate must also pass the budget bill before it can become law, and senators have already been devoting hours study to its provisions.
This report by The Canadian Press was first published June 8, 2023.
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