Tags Ottawa

Tag: Ottawa

Ottawa vows to adjust wage subsidy for the reopening, but businesses still waiting

The federal government on Wednesday said changes are coming soon to its key subsidy for workers’ wages during the COVID-19 pandemic, a vow that comes as businesses are hoping the program’s criteria will be eased to allow more firms to partake.After proposing on May 15 to extend the then-12-week-long Canada Emergency Wage Subsidy until Aug.…

Posthaste: Why Ottawa’s fiscal ‘snapshot’ is unlikely to allay businesses’ biggest concerns

Good morning! Ottawa will unveil a ‘fiscal snapshot’ on Wednesday that will assess the country’s fiscal situation in light of the pandemic that has wrecked economic activity. Most analysts don’t believe the government will unveil a detailed plan, though. After all, it’s not a budget. “Ottawa will release its first post-Covid deficit projections, but it’s…

Ottawa rejects fintechs’ proposals for distributing financial aid to businesses hit by crisis

The federal government rejected multiple proposals from Canadian fintechs looking to distribute aid to businesses affected by COVID-19, The Logic has learned.The Canadian Lenders Association (CLA), PayPal and Wave all offered to help. Small Business Minister Mary Ng championed the fintechs’ proposals within government, but Finance Minister Bill Morneau’s office blocked them, according to four…

Ottawa to consider non-traditional data to revive economy, rework pandemic aid: Morneau

OTTAWA — The federal government will look at how measures to revive the economy from its pandemic-induced freeze will impact women and men differently, Finance Minister Bill Morneau promises.He also suggests that federal officials will consider how any changes to the economic safety net rushed into place for people whose jobs have been affected by…

Ottawa’s rent assistance program leaves landlords divided, with tenants paying the consequences

Both big and small landlords are divided over whether to participate in the federal government’s commercial rent assistance program, partly because of how complicated the application process is, as well as a reluctance to reduce rent by 25 per cent as the program mandates even though several provinces, including Ontario on Monday, have made it…

Ottawa delays 5G wireless spectrum auction by 6 months

The federal government announced Friday a six-month delay on plans to auction wireless spectrum that can be used for 5G cellular networks.In a news release, Innovation, Science and Industry Minister Navdeep Bains said the COVID-19 pandemic was the reason why he’s pushing the auction from December to June 15, 2021.“Canada’s telecommunications service providers are doing…

Ottawa’s flagship Strategic Innovation Fund paid out just $313 million in first three fiscal years

Ottawa’s flagship innovation program paid out $313 million to companies over its first three fiscal years — a small fraction of the $2.06 billion in awards ministers announced over that time.The Strategic Innovation Fund (SIF) is designed to help domestic firms grow and commercialize as well as attract foreign investment to Canada and encourage R&D…

Ottawa announces that wage subsidy will last three more months through summer

OTTAWA — Prime Minister Justin Trudeau says a federal wage subsidy for employees in businesses hit hard by COVID-19 will last at least until the end of August.The subsidy was set to expire in the first week of June, only a few weeks after the first payments rolled out.Trudeau says the idea is to give…

Posthaste: Ottawa’s financial obligation headed for ‘previously inconceivable’ $1 trillion, financial experts alert– which’s without any new spending

Good Morning!We have already heard that Canada’s deficit will likely hit a record this year, but now one think-tank is warning that the federal debt is headed for the “previously inconceivable” level of $1 trillion.The C.D. Howe Institute said in a note this week that however necessary Ottawa’s aid may have been on the way…

Ottawa wants equity option from public business obtaining through brand-new loan program for industries

The federal government wants the option to take equity in publicly traded companies that tap into its new loan program for big business, The Logic has learned.On Monday, Finance Minister Bill Morneau announced the Large Employer Emergency Financing Facility (LEEFF), through which Ottawa will give credit of $60 million or more to firms with at…

Most Read

DHS Secretary Sets the Record Straight on Fake News on Portland Riots

Chad Wolf, acting secretary of the Department of Homeland Security, hit back at a press conference in DHS headquarters in Washington, D.C. on Tuesday against media reports that the Trump administrati…

Trump Raises $20 Million in First-Ever Virtual Fundraiser

President Donald Trump raised an eye-popping $20 million on Tuesday night in his first-ever virtual fundraiser, from a total of more than 300,000 individual donors who participated. This is a great …

ACLU: Constitution Requires Illegal Aliens Count Toward Congressional Apportionment

The American Civil Liberties Union (ACLU), as well as other migration lobbying organizations, claims it is “unconstitutional” not to count illegal aliens when apportioning congressional representatio…

US House poised to vote on reversing Trump’s Muslim ban

The United States House of Representatives is set to vote on Wednesday on legislation reversing President Donald Trump's controversial ban on immigration from Muslim countries. The bill, called the …
Business and Economic News :: Debtly