In this edition:
- Inflation slowed to 1.9% in November, but prices for essentials remain elevated
- Government highlights investments while critics call out “lack of fiscal accountability”
- Height reductions proposed for Niagara Street development in Welland
- Town of Lincoln approves 2025 Budget with 2.91% levy increase
- West Lincoln receives over $1.2M through Ontario Municipal Partnership Fund
- Temporary immigration slows while permanent numbers hold steady
- Honda and Nissan to start talks on potential mega-merger
- Focus on International Trade
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Photo credit: Monster Ztudio / Adobe Stock
Inflation slowed to 1.9% in November, but prices for essentials remain elevated
The Consumer Price Index (CPI) rose 1.9% on a year-over-year basis in November, down from a 2.0% increase in October. Slower price growth was broad-based, with prices for travel tours and the mortgage interest cost index contributing the most to the deceleration.
Despite the slowdown, grocery prices have remained elevated. Compared with November 2021, grocery prices rose 19.6%. Similarly, while shelter prices eased in November, prices have increased 18.9% over the last year.
Picture credit: hyotographics / Adobe Stock
Government highlights investment in fall update while critics call out “lack of fiscal accountability”
The Fall Economic Statement includes updates on investments to expand Canada’s social safety net, build more homes, and reduce the costs of essentials like child care, dental care, and prescription medications including insulin and contraceptives, as well as a $1.3 billion investment in border security, likely in response to President-Elect Donald Trump’s tariff policy threat.
Experts at the Canadian Chamber of Commerce were critical of the government’s fiscal policy. CEO Candace Laing remarked that “the lack of fiscal accountability…, combined with a government in total disarray, creates profound instability for Canadian businesses and families at a time when we need the opposite.”
Picture credit: NPG Planning Solutions
Height reductions proposed for controversial Niagara Street development in Welland
The Development Squad, the group behind a controversial development plan for Welland’s Niagara Street, is proposing to reduce the height of its buildings and number of units, said a document from NPG Planning Solutions.
Earlier this year, the group introduced plans for 1,196 units in three 25-storey towers, one 12-storey tower and two four-storey stacked townhouses on 3.88 hectares of Niagara and Aqueduct streets properties, just south of Woodlawn Road.
Picture credit: Town of Lincoln
Town of Lincoln approves 2025 Budget with 2.91% levy increase
At its Council meeting on Monday, December 16, the Town of Lincoln officially approved its 2025 Budget, following the approval of the Operating Budget by the Budget – Committee of the Whole on December 4, 2024. The 2025 Capital Budget was approved earlier, on October 28, with some items revisited and finalized on November 13.
The budget represents an increase of approximately 7.87%, or a 2.91% increase Lincoln’s portion of the overall property tax bill.
Photo credit: Township of West Lincoln
West Lincoln receives over $1.2M through Ontario Municipal Partnership Fund
As part of the Ontario government’s historic increase to financial support for municipalities, Sam Oosterhoff, MPP for Niagara West, announced on December 13 that the Township of West Lincoln will be receiving $1,232,900 in provincial support through the Ontario Municipal Partnership Fund.
This is a local increase of $186,700 in provincial funding, directly benefiting residents and ratepayers in West Lincoln.
Photo credit: Evgenia Parajanian / Adobe Stock
Temporary immigration slows for fourth consecutive quarter while permanent numbers hold steady
The third quarter saw the lowest net increase in the number of non-permanent residents in Canada (+47,187) in a third quarter since the third quarter of 2015 (+19,982), excluding the third quarter of 2020, when the net number of non-permanent residents in the country decreased by 67,698 because of COVID-19 pandemic-related border restrictions.
Meanwhile, Canada welcomed 124,239 immigrants in the third quarter of 2024, similar to the quarterly increases seen since the third quarter of 2021.
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Focus on International Trade
Honda and Nissan to start talks on potential mega-merger
Japanese carmakers Honda and Nissan will begin negotiations over a potential merger, according to a report.
The Nikkei financial newspaper said on Tuesday that the two Japanese companies would start talks to help combat the increased global competition from bigger electric vehicle makers.
The firms, which are the second- and third-largest car manufacturers in Japan, had combined vehicle sales of 7.4m vehicles in 2023 but are having to compete with soaring sales from Chinese rivals such as BYD and Li Auto.
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.
