In this edition:
- B.C. port workers serve notice to strike again starting Saturday
- Canada defends digital taxes but sees path for global deal
- Investment in building construction declined 1.2 per cent to $19.9 billion in May
- Niagara groups cleaning up Great Lakes receive provincial funding
- Niagara Region Transit taking another step towards streamlining payments
B.C. port workers serve notice to strike again starting Saturday
B.C. port workers say they will resume striking as soon as Saturday after their Tuesday job action was ruled illegal and they were ordered back to work this morning.
The International Longshore and Warehouse Union Canada served the B.C. Maritime Employers Association with a 72-hour strike notice starting at 9 a.m. PT Saturday morning, the association said.
Canada defends digital taxes but sees path for global deal
Yesterday, Canada defended its decision to push ahead with its implementation of digital services taxes starting next year, citing national interest even as Finance Minister Chrystia Freeland expressed hope in reaching an international consensus.
More than 140 countries were planning to implement a 2021 deal that would overhaul decades-old rules on how governments tax multinational companies that were widely considered to be outdated as digital giants like Apple or Amazon.com can book their profits in low-tax countries.
Last week, however, most countries set to apply the first part of the deal in 2024 agreed to hold off by at least another year to reach a consensus on tax details. Ottawa refused, saying an extension of the freeze would disadvantage Canada relative to governments that have been collecting revenue under their pre-existing tax regimes.
Investment in building construction declined 1.2 per cent to $19.9 billion in May
According to Statistics Canada, investment in Canadian building construction declined 1.2 per cent to $19.9 billion in May. The residential sector decreased 1.7 per cent to $14.0 billion, while the non-residential sector was stable at $5.9 billion.
The decline in residential building construction in May brought Alberta down to its lowest level since December 2020. This was also the province’s ninth consecutive monthly decrease.
At a national level, single family home investment fell 2.9% to $7.4 billion in May 2023. Overall, seven provinces posted declines.
Niagara groups cleaning up Great Lakes receive provincial funding
Niagara Coastal and Niagara Peninsula Conservation Authority to benefit from Ontario’s investment of $6 million to restore the Great Lakes by reducing plastic litter, excess nutrients and road salt from entering lakes, rivers and streams.
Niagara Coastal will expand its Visual Assessment Survey Tool (VAST) web platform that engages coastal citizens, community groups and local organizations in collecting data to fill knowledge gaps for Great Lakes shorelines, including the Niagara River Area of Concern.
With the funding, Niagara Peninsula Conservation Authority will conduct studies and develop a plan to clean up contaminated sediment in a tributary of the Niagara River, engage the community in decision-making related to habitat restoration goals, and provide students and teachers with educational opportunities to learn about the lakes.
Ontario’s Great Lakes and St. Lawrence River shoreline is the longest freshwater coastline in the world, measuring 10,000 kilometres.
Niagara Region Transit taking another step towards streamlining payments
Niagara Region Transit has rolled out new fareboxes on all Niagara Falls conventional buses and paratransit vehicles.
The upgrade in Niagara Falls will streamline fareboxes across Niagara to a single, magnetic stripe technology, allowing the transit operation to transition to a single, new local transit pass in areas with bus and paratransit services already established.
The installation of the new fareboxes, funded through the Investing in Canada Infrastructure Program, is expected to take one week.
Did you know?
Volvo invented the three-point seatbelt in 1959 but gave away the patent for free to save lives.
Focus on Finance and Economy
Canadians’ vacation plans hit by inflation, airline delays: Leger survey
A third of Canadians have changed or cancelled their vacation plans due to inflation, according to a new survey by Leger.
In addition to concerns about inflation, Canadians are also feeling the sting of flight delays and cancellations when it comes to their vacation plans.
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.