In this edition:
- Deputy PM announces funding for housing benefit and winter shelters
- Cogeco announces acquisition of Niagara Regional Broadband Network
- Value of building permits tumbled 14% in December: StatCan
- Call for St. Catharines Farmers Market vendors for 2024 season opens
- Algoma commits to industry leadership to further address workplace harassment
- Minister Hussen announces funding for international youth internships
- Focus on Technology
Deputy PM announces $199M in funding for Canada Housing Benefit and winter shelters
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government is taking new action to deliver rent support to low-income renters, open more emergency shelter spaces in cities across the country, and make groceries more affordable.
Minister Freeland announced a $99 million national top-up to the Canada Housing Benefit, which helps to make rent more affordable by delivering rent support payments directly to Canadians. Freeland also highlighted the federal government’s commitment of $100 million in emergency winter funding to enable 85 communities across the country to provide more shelter spaces for people experiencing homelessness.
Cogeco announces acquisition of Niagara Regional Broadband Network
Cogeco Communications Inc. announced today that Cogeco Connexion is acquiring Niagara Regional Broadband Network (NRBN), an Internet, telephone and television service provider serving the Niagara Region. The sellers, the City of Niagara Falls and the Town of Niagara-on-the-Lake, will both remain minority shareholders in the company. This acquisition will strengthen Cogeco’s presence in the Niagara Region and allow Cogeco to support the continued growth of NRBN.
Value of building permits tumbled 14% in December: StatCan
The total value of building permits in Canada decreased 14.0% from November to $9.2 billion in December, the lowest monthly level since October 2020. Declines were recorded in both the residential and non-residential sectors. On a constant dollar basis (2017=100), the total value of building permits declined 14.2% to $5.8 billion in December.
The total value of residential permits fell 17.9% to $5.7 billion in December, driven by a significant decline in multi-unit construction intentions (-31.1%; -$1.3 billion), the largest monthly drop in the series. The decline in value of multi-unit permits in Ontario (-45.2%; -$816.8 million) greatly contributed to the overall monthly decrease in the residential sector in December.
Call for St. Catharines Farmers Market vendors for 2024 season opens
The City is calling on new farmers and producers to apply for a space at the 2024 St. Catharines Farmers Market.
Every spring, the market expands to include outdoor spaces from May to October, welcoming back farmers for the main harvest season. Periodically on Saturdays throughout the summer, the outdoor market also features local musicians, plus an interactive community engagement table with free and fun experiences for all ages. Farmers Market vendors and producers can apply for a market stall at stcatharines.ca/VendorApplication anytime before March 4 to receive priority screening.
More details on the market, including a list of existing vendors, rules and regulations, selection criteria and market stall rental rates can be found at stcatharines.ca/FarmersMarket.
Algoma commits to industry leadership to further address workplace harassment
Algoma Central Corporation , a leading provider of marine transportation services, today issued their response to the Seafarers’ International Union of Canada (“SIU”) report on workplace harassment and bullying within the Canadian marine sector.
“At Algoma, we are dedicated to cultivating a workplace culture founded on principles of respect and inclusion,” an Algoma spokesperson said in a statement. “Recognizing the profound impact that all forms of harassment can have on the well-being of our employees, we prioritize the safety and health of our crews and staff. This commitment has always been, and continues to be, our foremost priority. In recent years, we have enhanced our Workplace Harassment and Violence Prevention Policy, reporting procedures, and training. That said, we recognize that more needs to be done.
“There is no place for harassment at Algoma.”
Minister Hussen announces funding for international youth internships
Today in Victoria, during a cross-country tour to highlight International Development Week, the Honourable Ahmed Hussen, Minister of International Development, announced $24.5 million in funding for the International Youth Internship Program (IYIP).
For over 25 years, the program has been offering youth living in Canada the opportunity to gain skills and professional experience abroad in the field of international development, allowing them to prepare for future employment or continue their formal education.
Did you know?
By 2036, 1 in 3 working people could be born outside of Canada.
Focus on Finance & Economy
Don’t look to the BoC to solve Canada’s housing and economic woes, Macklem says
Bank of Canada governor Tiff Macklem is laying out the limits of monetary policy as he warns the central bank can’t solve problems such as housing affordability with interest rates.
According to prepared remarks Macklem delivered in Montreal Tuesday, he says history shows monetary policy is quite effective at controlling inflation in the medium term.
But the governor says it also has limitations, including an inability to address short-term price fluctuations.
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.
