The federal government is asking Parliamentary Budget Officer (PBO) Yves Giroux not to publicly release internal data given him by the Department of Finance for his analysis of the New Canadian Dental Care Plan outlined in Budget 2023. Giroux wrote a letter to Finance Minister Chrystia Freeland on May 2 asking for a number of internal…
Feds Ask Budget Officer Not to Release Internal Data on Public Dental Care
Ottawa Expands Price Caps to Russian Petroleum Products to Reduce Revenues
The federal Finance Department says Canada is joining its fellow G-7 countries plus Australia to expand caps on Russian oil to include seaborne petroleum products from that country. The department says the maximum price for seaborne Russian-origin petroleum will be US $100 per barrel for “premium-to-crude” products as of Sunday, and US $45 for “discount-to-crude”…
A Breakdown of Finance Departments in Business Organizations
The finance department in a business or institution is a division responsible for handling money on its behalf. Depending on the type of company, the role of a finance department will vary. Apart from controlling the expenditure and income, the finance department ensures that transactions associated with the organization’s daily operations run smoothly without disruptions…
Finance Minister Chrystia Freeland to Deliver Fall Economic Statement on Nov 3
Finance Minister Chrystia Freeland will deliver an update on federal finances in the fall economic statement to be presented in the House of Commons on Nov. 3. The fiscal update will also share the government’s outlook for an economy facing high inflation and staring down a potential recession in the coming months. Freeland has stressed…
Inflation Top Concern for Canadians: Survey
Inflation is now the number one concern for Canadians, surpassing that of the COVID-19 pandemic, crime, and terrorism, according to a survey conducted by the finance department. “The main economic issue of concern was clearly inflation and prices,” according to the report, titled “Research on the State of the Economy,” obtained by Blacklock’s Reporter. “Participants…
Federal Documents Hint at Sweeping Economic Impact From Central Bank ‘Digital Loonie’
OTTAWA—Internal government documents show Finance Department officials believe there could be sweeping implications for the economy if the Bank of Canada ever issued its own cryptocurrency. The Bank of Canada has spent years looking at whether to introduce a digital currency, but so far hasn’t seen an immediate need to issue one. In one briefing…
Finance Department Says Preliminary Deficit of $314 Billion for Last Fiscal Year
OTTAWA—The federal government says its preliminary deficit for the last fiscal year was $314 billion, an unprecedented figure caused by an equally unprecedented economic shock. The early deficit figure for the 12−month period between April 2020 to March 2021 compares to a deficit of $21.8 billion over the preceding fiscal year. The government says in…
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