In this edition:
- St. Catharines has extra $4.1 million after settlement of tax appeal with GM
- ‘Unprecedented’ number of Niagara residents using food banks: Brock University brief
- Ontario launches Grid Innovation Fund
- PM announces $2.4 billion funding package for AI initiatives
- Area health unit pushes back as Ontario moves to expand alcohol sales
- One last hold: Economists expect another interest rate pause
- Focus on Health & Safety
St. Catharines has extra $4.1 million after settlement of tax appeal with GM
St. Catharines has found itself with an extra $4.1 million after a 15-year-old tax appeal by General Motors turned out better than expected for the city. The automotive company appealed the tax assessment for its property at 570 Glendale Ave. in 2009 and the issue wasn’t settled until mediation in mid-December 2023.
Since 2009, city staff have been putting money into a fund every year in the event the city had to pay back a large portion of the taxes GM paid. But although GM will see its tax assessment reduced, city council heard Monday night staff squirrelled away more money than was ultimately needed.
‘Unprecedented’ number of Niagara residents using food banks: Brock University brief
More Niagara residents are being forced to use food banks than ever before, according to a report by Brock University political scientist Joanne Heritz.
From 2021 to 2023, all 10 food banks in the region saw an increase in the number of visits, particularly Indigenous, diverse, seniors, children and even those individuals with a full-time job, according to the report.
Community Care of St. Catharines and Thorold experienced almost a doubling of the number of visits, from 57,679 in 2021 to 104,000 in 2023, and Niagara-on-the-Lake’s Newark Neighbours had the highest percentage increase in the number of visits, to 140 people from 64 people, or 118 per cent in 2023.
Ontario launches Grid Innovation Fund
The Ontario government is launching a new round of the Grid Innovation Fund, which will invest $9.5 million to support projects that will make the province’s electricity system more efficient. This year’s funding will be focused on transportation and heating and cooling, two sectors that are driving significant electricity demand increases.
The Grid Innovation Fund will be administered by the IESO, which is opening applications for funding in May 2024.
PM announces $2.4 billion funding package for AI initiatives
The Prime Minister, Justin Trudeau, today announced a $2.4 billion package of measures from the upcoming Budget 2024 to secure Canada’s AI advantage. These investments aim to accelerate job growth in Canada’s AI sector and beyond, boost productivity by helping researchers and businesses develop and adopt AI, and ensure this is done responsibly.
“Canada has a world-leading AI ecosystem – from development, to commercialization, to safety,” a statement from the Prime Minister’s office read. “We have an advantage that can make sure Canadian values and Canadian ideas help shape this globally in-demand technology.”
In a rejoinder, Ulrike Bahr-Gedalia, Senior Director of Digital Economy, Technology & Innovation at the Canadian Chamber of Commerce, commented that the announcement was “a positive step for Canada’s Artificial Intelligence ecosystem, but we need more than just dollars and cents. We can’t continue to layer on additional red tape that will stifle and undermine private sector investment.”
Area health unit pushes back as Ontario moves to expand alcohol sales
As Ontario gears up to expand alcohol sales to as many as 8,500 locations, one Southwestern Ontario health unit wants to tighten measures to reduce booze abuse.
At a meeting last week, board members for Southwestern Public Health – the health unit for Oxford and Elgin counties including St. Thomas and Woodstock – unanimously agreed to receive a letter from the province’s minister of finance and act on what it views as high rates of alcohol consumption in its region.
One last hold: Economists expect another interest rate pause
As the Bank of Canada is largely expected to hold interest rates at its announcement on Wednesday, economists expect it could be the last in a string of pauses.
Economists tracked by Bloomberg unanimously believe the Bank of Canada will hold interest rates at five per cent for a seventh straight announcement. However, just five of 13 economists are predicting another hold at the central bank’s next announcement on June 5, with the remaining anticipating a cut to 4.75 per cent.
Francis Fong, managing director and senior economist at TD Economics, also believes the Bank of Canada is in for at least one more hold before cutting in the summer.
Did you know?
Focus on Health & Safety
Q&A with Candace Sellar of CSA Group: Navigating the world of respiratory protection
There are several different types of respiratory hazards that might be encountered in the workplace—and for many, they are a part of everyday job function. While COVID-19 and the 2003 SARS outbreak both highlighted the need for proper respiratory protection, there are always concerns about occupational diseases—many of which can be linked to improper respiratory protection. As the field of respiratory protection continues to evolve, it is crucial for employers to identify potential respiratory hazards and establish the necessary safeguards for employee safety.
CSA Group’s Candace Sellar offers insights into the actions employers can take to help improve respiratory safety, and shares details on CSA Group’s relevant Occupational Health and Safety standards, including an opportunity for readers to contribute to an upcoming update to a respiratory protection standard.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
