Updated News -Canada https://updatednews.ca Stay Informed, Stay Connected Tue, 16 Apr 2024 09:16:00 +0000 en-CA hourly 1 https://wordpress.org/?v=6.5.2 https://i0.wp.com/updatednews.ca/wp-content/uploads/2024/01/cropped-icon.png?fit=32%2C32&ssl=1 Updated News -Canada https://updatednews.ca 32 32 11776598 Canada’s Stakes After Iran’s Unprecedented Attack on Israel https://updatednews.ca/canadas-stakes-after-irans-unprecedented-attack-on-israel/ Tue, 16 Apr 2024 09:16:00 +0000 https://updatednews.ca/?p=12132 In the wake of the recent Iranian missile and drone strikes against Israel, there’s a call for Canada to heed the seriousness of the threat posed by Iran and the potential escalation of the conflict, according to one global affairs analyst.

Aurel Braun, a professor of international relations and political science at the University of Toronto and an associate at the Davis Center for Russian and Eurasian Studies at Harvard University, emphasized the broader global implications of the situation. He pointed out that Iran’s actions not only endanger Israel but also threaten the stability of Arab states and the wider international system.

Braun highlighted Iran’s extensive reach, noting its alliance with Russian President Vladimir Putin and its supply of “killer drones” to Russia, which have resulted in civilian and military casualties. He emphasized Canada’s stake in the matter as a G7 and NATO member, as well as a supporter of Ukraine and fellow democracy.

The recent direct military attack by Iran on Israel, following decades of strained relations since Iran’s Islamic Revolution in 1979, underscores the volatile nature of the situation. Despite Israel’s interception of the majority of the drones and missiles launched, tensions remain high.

Israel’s ambassador to Canada, Iddo Moed, stressed the need for support from allies like Canada to prevent further harm from Iran. However, James Horncastle, a professor in international relations at Simon Fraser University, cautioned against speculating on Canada’s role, citing the evolving nature of the conflict.

One possible action Canada might consider is designating Iran’s Islamic Revolutionary Guard Corps as a terrorist organization, though Horncastle suggested this might be more symbolic than substantive. He speculated that Iran’s attack was intended to maintain support among its anti-Israel and anti-American allies in the region.

Braun advocated for non-military measures in dealing with Iran, such as sanctions and support for dissidents, while also suggesting a resumption of arms sales to Israel. He criticized Canada’s recent freeze on arms exports to Israel, arguing that it sends the wrong message and emboldens aggression.

Amid calls from global leaders to avoid retaliation, Canada expressed solidarity with Israel and condemned Iran’s actions in a joint statement with other G7 nations. Prime Minister Justin Trudeau affirmed Canada’s commitment to monitor the situation closely and work towards stabilizing it to prevent further escalation.

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Canada Reports Almost 9% Surge in Firearm Crimes https://updatednews.ca/canada-reports-almost-9-surge-in-firearm-crimes/ Tue, 30 Jan 2024 19:12:57 +0000 https://updatednews.ca/?p=11883 A recent report by Statistics Canada reveals a concerning trend of increasing firearm-related violent crimes in Canada, with an 8.9% rise per 100,000 people in 2022. This marks the highest rate since comparable data was first compiled in 2009, as stated in the report published on Tuesday.

The analysis, based on the Uniform Crime Reporting Survey and the Homicide Survey, points to Ontario as a significant contributor to the surge. The province reported 4,791 firearm-related violent crimes in 2022, an increase of 1,016 from the previous year, representing 70% of the overall rise in incidents across the country.

While Toronto experienced a three-year decline until 2022, reporting 2,576 crimes, the city witnessed a 36% increase in the rate of firearm-related incidents compared to 2021. Other cities in Ontario, such as Greater Sudbury, Kitchener-Cambridge-Waterloo, and Brantford, also recorded notable increases.

British Columbia and Alberta also played a role in the overall rise in firearm crimes. B.C. reported nearly 1,500 more crimes involving firearms in 2022, with notable increases in areas like Abbotsford-Mission, Victoria, and Vancouver. Alberta experienced a surge in firearm-related violent crimes, driven mainly by the largest urban centers like Edmonton and Calgary.

Statistics Canada Chart

Saskatchewan maintained its status as the province with the highest rate of firearm-related violent crimes in 2022, despite a 7% decrease from the previous year. Among the country’s census metropolitan areas, Regina posted the highest rate and percentage of firearm-related violent crime.

The report underscores an increasing trend in firearm-related violent crime since 2013, with a 55% overall increase. Specific violent crimes, such as discharging a firearm with intent, pointing a firearm, and using a firearm during an offense, rose 120% across Canada during this period. The data also reveals double-digit increases in various types of firearms, including handguns, rifles or shotguns, and fully automatic firearms. Notably, the “unknown type of firearm” category saw a 76% increase between 2013 and 2022.

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Palestinian-Canadian Civilian Journalist Reported Missing in Gaza https://updatednews.ca/palestinian-canadian-civilian-journalist-reported-missing-in-gaza/ Sun, 28 Jan 2024 22:04:00 +0000 https://updatednews.ca/?p=11851 Global Affairs are investigating the disappearance of a Canadian citizen in Gaza amid reports that Palestinian-Canadian Mansour Shouman has been missing for a week.

“Global Affairs Canada is aware of a Canadian who is missing in Gaza. Canadian officials continue to monitor the situation closely and are in direct contact with the family members,” the agency said in a statement to CTV News on Sunday. “Due to privacy considerations, no further information can be disclosed.”

Shouman has spent months documenting the crisis in Gaza as a citizen journalist and helping to distribute humanitarian aid. He has frequently spoken to international media over the course of the war to share details of the deteriorating humanitarian situation in Gaza, and is believed to have been missing since Jan. 21.

There have been unverified reports of eyewitnesses who say Shouman was arrested by the IDF.

“For everybody, watching what’s happening in Gaza has been traumatic, but since we haven’t heard from Mansour, it’s been really worrying,” Zaheera Soomar, a colleague of Shouman, told CTV News Channel on Sunday.

Soomar, who works with the team in Gaza from Toronto, said that the last time they had heard from Shouman was 4 p.m. on Jan. 21.

“In the morning, we didn’t really worry about it because we knew there was coms blackouts and we knew Khan Younis was under attack,” she said.

But by Monday afternoon, they’d heard from others on the ground, who said that “Mansour had left Khan Younis and headed towards Rafah.”

When the team still couldn’t get in contact with him, alarm bells began to ring. On Thursday, members of Shouman’s team posted to his X account, formerly known as Twitter, saying they believed he was missing.

Then, on Saturday, Soomar said they got an update from their contacts on the ground in Gaza.

“There are three eyewitness accounts that on Tuesday, when he was making his way from Khan Younis to Rafah, that he was arrested by IDF,” she said.

Since Oct. 7, when Hamas militants killed 1,200 people in Israel and took roughly 250 hostages, more than 26,000 people have been killed in Gaza, according to the Hamas-run Health Ministry, amid a brutal aerial bombardment and a ground assault by Israel.

The southern city of Khan Younis has faced heavy fighting this past week as Israeli troops pushed into the city. A strike on a crowded UN shelter in Khan Younis on Wednesday killed 12 and wounded over 75, the Associated Press reports—just a small part of one of the bloodiest military campaigns raged in years.

Shouman has been living in Gaza with his family since 2002. He previously completed oil and gas consulting work in Calgary, and has five children, according to the Canadian Press. In the wake of the Oct. 7 Hamas attack in Israel and Israel’s subsequent bombardment of the Gaza Strip, his family fled their homes.

As the fighting continued, Shouman decided to split up from his wife and children so that he could document what he saw unfolding around him without fearing for their safety, he told CTV National News in November.

In that same conversation, Shouman described overflowing hospitals, communication blackouts, people going hungry and the increasing danger of disease in UN-run schools packed with refugees.

“People are basically suffering,” he said.

That was nearly three months ago. The situation has only continued to worsen in Gaza, with the death toll climbing and Israel vowing no end in hostilities until Hamas are eradicated.

Shouman has not only been documenting what is happening on the ground, but has also been trying to help distribute aid, Soomar said.

“Mansour has been doing two different types of work. One, he’s spreading awareness about what’s been happening, like an independent journalist. He’s been broadcasting to the world … because he speaks very good English, he is able to communicate with a very big population in the world about what is happening on a daily basis,” she said.

“And the second piece of work is humanitarian efforts. So he does work on the ground to bring food, to bring aid, medical supplies, helps with building tents, shelter … and just bringing relief on the ground, basically.”

Soomar’s worry regarding Shouman’s safety is compounded by the fear that Shouman may be in the hands of the IDF, she said.

“We’ve seen journalists being targeted,” she said.

“Right now, we really need the government of Canada to act and act with urgency.”

A petition calling for Shouman’s safe return has already garnered more than 87,000 signatures since it was first shared on Saturday.

At least 83 journalists and media workers have been killed so far in the conflict, including 76 Palestinian journalists, according to the Committee to Protect Journalists.

In November, as the first foreign nationals began to leave Gaza through the Rafah border crossing with Egypt, Shouman told CTV National News that he wouldn’t be leaving—his role, he felt, was to be a voice for those in Gaza to international media.

“Given that the impact that the media is having, trying to get the media out in the English language in a way that the western world, the decision-makers, hopefully understand — not a lot of people in Gaza can play this role right now,” he said in November.

“If everyone like me decided to leave, then who would be left to help the people here?”

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Environment Canada Issues Warning on Impending Storm Surge and Extreme Snowfall https://updatednews.ca/environment-canada-issues-warning-on-impending-storm-surge-and-extreme-snowfall/ Fri, 12 Jan 2024 22:56:57 +0000 https://updatednews.ca/?p=11725 Another winter storm is affecting Ontario and Quebec, bringing heavy snowfall and extreme winds. The storm, originating from the Midwest and the southern U.S., is anticipated to create hazardous road conditions and accumulate up to 30 centimeters of snow in certain regions.

Key Details:

  1. Affected Areas:
    • Southern Quebec: Snowfall warnings are in place, with the Quebec City area and regions along the Gulf of the St. Lawrence River expected to experience the brunt of the storm surge.
    • Ottawa: A winter storm warning is issued for Ottawa, north of the Ottawa Valley, and areas near Lake Huron.
    • Southwestern Ontario: Areas around Lake Huron may see up to 25 centimeters of snow, while the Greater Toronto Area is expected to receive five to 10 centimeters.
  2. Coastal Flooding Risks:
    • Quebec City Area: The storm surge poses risks of coastal flooding, and residents are advised to check local forecasts for preparedness.
  3. Wind Impact:
    • The winds will be strong, gusting up to 100 kilometers per hour in some places on Saturday, including Saturday night.
    • Windy conditions may lead to dangerous driving conditions, with the possibility of whiteout conditions.
  4. Chronology of the Storm:
    • Friday Evening: Storm surges will affect southwestern Ontario, including the Greater Golden Horseshoe Area.
    • Midnight: The storm will also impact Ottawa, Montreal, and northeastern Ontario.
    • Saturday Morning: Southern Quebec, including Montreal and Quebec City, will likely experience heavy snowfall.
    • Saturday Afternoon: More snow is expected in southern Ontario, easing from east to west, while Ottawa, Montreal, and Quebec City continue to experience snowfall.
    • Saturday Evening: The storm is expected to wind down in southern Ontario, but winds will pick up, requiring caution with freshly fallen snow.
  5. Cold Temperatures in Other Regions:
    • West Coast, Prairies, and Northern Canada: Extreme cold warnings are in place, with temperatures feeling as cold as -55°C.
  6. Atlantic Canada:
    • The snowfall systems are expected to shift east into Atlantic Canada after impacting Ontario and Quebec.

Environment Canada has issued weather warnings, statements, and watches across the country. Residents in affected areas are urged to stay informed about local forecasts and take precautions in the face of severe weather conditions.

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Canada Braces for -50 Wind Chill and 40 cm of Snow This Week https://updatednews.ca/canada-braces-for-50-wind-chill-and-40-cm-of-snow-this-week/ Mon, 08 Jan 2024 18:39:45 +0000 https://updatednews.ca/?p=11639 Canadians should prepare for a snowy surprise as certain regions may experience up to 40 centimeters of snowfall this week.

Winter Storms Hit Ontario and Quebec

Environment Canada issued a winter storm watch for parts of Ontario and Quebec, anticipating up to 40 cm of snow starting Tuesday. Areas like Elliot Lake, Greater Sudbury, and Prescott and Russell in Ontario will face heavy snow and strong winds, with the worst conditions expected Tuesday night into Wednesday morning. Quebec’s Gatineau may see 10 to 20 cm of snow, possibly changing to ice pellets or freezing rain Tuesday night. A major storm is forecasted to impact western Quebec on Tuesday afternoon and central Quebec in the evening, with Chibougamau potentially receiving 20 to 40 cm of snow.

Extreme Cold Alerts

Parts of Yukon, Northwest Territories, and Saskatchewan face extreme cold warnings, with wind chill making temperatures feel like -50. N.W.T. is expected to experience frigid wind chills of -50, while an arctic airmass settles over Old Crow, Yukon, with temperatures around -35 C and severe wind chill. Saskatchewan’s Cree Lake and Key Lake may feel as cold as -45 throughout the week.

Heavy Snowfall and Blizzards

B.C. anticipates 10 to 20 cm of snow Tuesday evening through Wednesday morning, with higher amounts over higher terrain. Newfoundland and Labrador’s Cartwright and Black Tickle areas are under a blizzard warning, expecting wind gusts of 80 to 90 km/h and visibility near zero in blowing snow. St. John’s and vicinity face elevated water levels, reaching six to eight meters, with the highest risk of flooding during high tide on Monday and Tuesday morning due to long-period swells from an intense storm south of Greenland.”

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Opposition Grows to Israel’s Plan of Relocating Gazans, Including to Canada https://updatednews.ca/opposition-grows-to-israels-plan-of-relocating-gazans-including-to-canada/ Wed, 03 Jan 2024 19:25:53 +0000 https://updatednews.ca/?p=11602 In Ottawa, countries traditionally allied with Israel are cautioning against any consideration by Israel’s right-wing government to displace residents of the Gaza Strip. This comes as Israeli officials, including Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben Gvir, repeatedly suggest that Canada could potentially accept Palestinians. Smotrich specifically stated that Israel should “encourage migration” of Palestinians from Gaza and reintroduce Israeli settlements in the region.

U.S. State Department spokesperson Matthew Miller has condemned the remarks from Smotrich and Ben Gvir as “inflammatory and irresponsible,” while French President Emmanuel Macron labeled them as “unacceptable.” There are reports that members of Israeli Prime Minister Benjamin Netanyahu’s Likud Party discussed potential countries willing to accept Palestinians from Gaza, with Canada allegedly being mentioned. However, this information has not been independently verified.

Canada’s Immigration Minister Marc Miller denied engaging in any talks about transferring Gazans and emphasized that he has not discussed the so-called ‘voluntary transfer’ of Gazans out of Gaza with any member of the Israeli government. He called such claims “obscene” and stated that anyone suggesting otherwise is not truthful.

Next week, Canada is set to launch a temporary immigration program for the extended family members of Canadians trapped in Gaza. The program aims to offer three-year visas to up to 1,000 Palestinians, provided their family members in Canada are willing to support them during their stay.

During the first month of the recent Israel-Hamas war, there were reports of an Israeli government ministry drafting a proposal to transfer all 2.3 million Palestinians from the Gaza Strip into Egypt and resettle them in other countries. The memo specifically mentioned Canada’s “lenient” immigration practices, making it a potential target for resettlement. Israeli officials confirmed the document’s authenticity but stated that the proposal is not government policy.

In November, former deputy director of the Israeli intelligence agency Mossad, Ram Ben Barak, suggested on Israeli television that for Palestinians, it’s “better to be a refugee in Canada” than to live in Gaza.

University of Ottawa professor Thomas Juneau characterized the recent statements by Smotrich and Ben Gvir as “openly advocating for ethnic cleansing of Palestinians.” Last month, the United Nations special rapporteur on the human rights of internally displaced persons, Paula Gaviria Betancur, warned that Israel appears to be seeking a permanent alteration of Gaza’s population.

Israel’s government spokesman Eylon Levy responded to these concerns, stating that Israel had asked Palestinians to move to a humanitarian zone within the Gaza Strip to protect them in areas where Hamas is not already using them as human shields.

The conflict between Israel and Hamas began in October when Hamas militants stormed southern Israel, resulting in an estimated 1,200 casualties and about 240 hostages. Since then, Gaza has faced almost constant bombardment, with local officials reporting over 22,300 people killed in Israel’s military response.

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Ten Rescued from Remote N.W.T. Plane Crash https://updatednews.ca/ten-rescued-from-remote-n-w-t-plane-crash/ Thu, 28 Dec 2023 18:59:02 +0000 https://updatednews.ca/?p=11420 Ten individuals, including some with injuries, have been successfully rescued following a plane crash in a remote area of the Northwest Territories.

The military confirms the completion of the rescue operation, led by David Lavellee, spokesperson for 1 Canadian Air Division and Canadian Norad Region Headquarters.

All survivors have been safely extracted from the crash site and transported to the nearby Diavik diamond mine.

This is a breaking news alert. A previous version of the story follows below.

Rescue Operations Underway as Small Aircraft Crashes, Leaving 10 Stranded with Injuries near Diamond Mine in Northwest Territories

A small aircraft crashed on Wednesday, leaving 10 people stranded with injuries approximately 300 kilometers northeast of Yellowknife, near a diamond mine. The Joint Rescue Coordination Centre Trenton initiated a search-and-rescue operation after an Air Tindi Twin Otter aircraft landed about 16 kilometers southeast of the Diavik Diamond Mine in the Northwest Territories.

David Lavallee, spokesperson for the 1 Canadian Air Division and Canadian NORAD Region Headquarters, reported that a Royal Canadian Air Force Hercules aircraft was dispatched from Winnipeg and reached the accident site on Wednesday evening. Three highly-trained search-and-rescue technicians were parachuted to the location with supplies and equipment.

The crashed aircraft, operated by Air Tindi, had two crew members and eight passengers on board. Six individuals sustained minor injuries, while two had moderate to serious injuries.

The Joint Rescue Coordination Centre Trenton is collaborating with Air Tindi on an extraction plan, involving the preparation of helicopters with medical teams to reach the accident site later this morning. The intention is to transport the group to Yellowknife after the extraction process.

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Judih Weinstein Haggai, Last Canadian Kidnapped by Hamas, Confirmed Dead https://updatednews.ca/judih-weinstein-haggai-last-canadian-kidnapped-by-hamas-confirmed-dead/ Thu, 28 Dec 2023 16:23:49 +0000 https://updatednews.ca/?p=11437 Judih Weinstein Haggai, the last Canadian considered missing amid the Israel-Hamas conflict, has been confirmed dead, according to her family. Initially believed to be a hostage of Hamas, it is now revealed that she and her U.S.-Israeli husband, Gadi Haggai, were shot near the Gaza border on October 7 during Hamas’s attack on Israel.

Kibbutz Nir Oz, where the couple were members, confirmed Gadi Haggai’s death earlier in December and recently issued a statement on behalf of the family, confirming Judih Weinstein Haggai’s death. Described as an English teacher specializing in children with special needs, she also taught mindfulness to children affected by ongoing rocket fire from Gaza. The statement highlighted her contributions as a poet, entrepreneur, and peace advocate in the region.

Weinstein Haggai, born in the United States, held U.S., Israeli, and Canadian citizenship. She moved to Toronto at the age of three. The couple settled on Kibbutz Nir Oz in southern Israel in the mid-90s, where they made a home. During the October 7 attack, Hamas fired rockets while they were out on a walk near the kibbutz. Weinstein Haggai, a mother of four and grandmother of seven, sent a text message describing the attack, stating that a militant shot her husband, and she was less severely injured. Their bodies remain with Hamas.

The family expressed gratitude for the support from Canadian officials, while also addressing concerns about rising hate speech towards Jews and Muslims in Canada following the conflict. U.S. President Joe Biden extended condolences, describing the tragic development and reaffirming the commitment to aid in the release of remaining hostages.

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Ukrainian Watchmaker Revives Dormant Newfoundland Clock Tower https://updatednews.ca/ukrainian-watchmaker-revives-dormant-newfoundland-clock-tower/ Sat, 23 Dec 2023 14:10:29 +0000 https://updatednews.ca/?p=11404 In an extraordinary intersection of global challenges, childhood fascination, and maritime resilience, a 118-year-old clock in eastern Newfoundland, silent for decades, has been revived by a Ukrainian watchmaker. Liudmyla Pass, 68, who recently fled the Russian invasion of Ukraine, undertook the task of repairing the historic clock in Carbonear, Newfoundland, just a month after arriving in the coastal town.

Armed with her tools and over five decades of expertise, Pass ascended the stairs of the long-silent clock tower on Tuesday. Her daughter, Yulia Veretennyk, explained that about four hours later, the once-dormant clock’s gears were clicking and turning. The metal components were rusty and encrusted with salt from the ocean air, but Pass’s meticulous work involved a thorough cleaning and a precise reset of the machinery.

Veretennyk expressed her pride in her mother’s unique skills and dedication, emphasizing that Pass has always been deserving of recognition. The clock restoration project was not only a technical accomplishment but also a symbol of resilience and collaboration between two countries facing different challenges.

Pass and her husband arrived in Newfoundland in November after fleeing the conflict in Ukraine. Veretennyk, who had been living in Newfoundland since May 2022, was part of the first group of Ukrainians evacuated by the Newfoundland and Labrador government in response to the war.

The clock tower, located in Carbonear, is part of the Carbonear Heritage Society, housed in the town’s old post office. A social media post by the society in October expressed a hope that the clock, which hadn’t been operational for decades, would be working again by its 120th birthday in 2025.

Pass’s passion for clocks began at the age of five when she encountered a clockmaker in her village. Enchanted by the intricate mechanisms, she pursued her calling against her parents’ initial objections. Running away at 15 to attend a college where she learned to fix clocks and watches, Pass eventually established herself as the go-to clockmaker in her hometown in central Ukraine.

Her repair of the clock tower in Carbonear has not only brought a historic timepiece back to life but has also sparked renewed interest in preserving cherished buildings and objects from the town’s past. Keith Thomas, chair of the Carbonear Heritage Society, noted the significance of Pass’s contribution, emphasizing the newfound pride and appreciation felt by the community.

Since Pass’s successful restoration, locals have been bringing their own watches and clocks for repair, ensuring that her craft continues to thrive in her newly adopted community. The clock tower, now operational, serves as a testament to the resilience of both the town and its newest resident, Liudmyla Pass.

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Fall Economic Statement: Back-Loaded Home Building Funds, $40B Deficit Projected https://updatednews.ca/fall-economic-statement-back-loaded-home-building-funds-40b-deficit-projected/ Tue, 21 Nov 2023 21:10:35 +0000 https://updatednews.ca/?p=11216 Deputy Prime Minister and Finance Minister Chrystia Freeland presented the federal government’s fiscal update on Tuesday, outlining substantial spending and targeted policy measures to tackle Canada’s housing challenges. The fall economic statement forecasts a deficit of $40 billion in 2023-24, with a focus on affordability and the acceleration of home building. Canadians grappling with inflation and high interest rates, coupled with concerns about mortgage renewals, are central considerations in the economic plan.

The economic statement, reflecting a degree of fiscal restraint amid ongoing spending reduction efforts, earmarks significant financial commitments set to roll out in 2025, coinciding with the next federal election. Over the next six years, $15.7 billion in new spending is allocated, partially offset by projected savings of $2.5 billion in the public sector, resulting in net new spending of $13.2 billion.

Freeland’s proposal introduces a series of cost-free policy and legislative pledges, including the creation of a new Department of Housing, Infrastructure, and Communities. The government commits to investing billions in building new homes, expanding the construction workforce, addressing short-term rentals, and implementing green investment tax credits.

On the housing front, the economic statement unveils a $15 billion Apartment Construction Loan Program to incentivize rental housing construction, aiming to build over 30,000 new rental units. An additional $1 billion is designated for an affordability-focused housing fund supporting non-profit, co-op, and public housing, with a goal of 7,000 new homes by 2028. Freeland also pledges $309.3 million for the Co-operative Housing Development Program.

To alleviate concerns about mortgage renegotiations at higher interest rates, a new Canadian Mortgage Charter is introduced, outlining relief measures such as temporary extensions of amortization periods, waiving fees, and providing advanced contact with renewal options.

Addressing grocery price concerns, the economic update promises collaboration with major retailers to stabilize prices and establish a Grocery Task Force. Amendments to the Competition Act and related laws are outlined to strengthen the Competition Bureau’s powers against anti-competitive practices. Efforts to reduce “hidden junk fees” are also reiterated.

Despite a forecasted deficit in each upcoming year, Freeland emphasizes Canada’s economic strength, citing private sector economists’ expectations of avoiding a potential recession. The fall economic statement showcases Canada’s responsible fiscal plan, with a focus on reducing the deficit amidst global inflation. The update also highlights Canada’s lowest deficit and net debt-to-GDP ratios in the G7, and a AAA credit rating. Downside scenarios caution about challenges, including a potential rise in the unemployment rate and an increase in public debt charges.

While Freeland strikes an optimistic tone about the economy’s current state and trajectory, challenges and uncertainties are acknowledged. The fiscal update signals ongoing commitment to reducing the federal debt as a share of the economy over the medium term.

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