In this edition:
- Third on the continent: Pearl Morissette lands in top 3 best North America restaurants
- Canada and Ontario open applications for new Development Charge Reduction Program
- Canada sends letter to U.S., Mexico calling for renewal of trade agreement
- New report proposes unique solution to Canada’s housing shortage
- Chinese-made electric vehicles start arriving in Canada
- Brace for the coming labour squeeze as 25,500 Canadians retire every month
- Focus on Finance and Economy – Make Canada more investable again
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Picture credit: Jim Norton Photography / Town of Lincoln
Third on the continent: Pearl Morissette lands in top 3 best North America restaurants
Jordan Station’s Restaurant Pearl Morissette has another major accolade to add to its ever-growing list.
Two Michelin stars. A two-time, back-to-back winner of the No. 1 spot in Canada’s 100 Best Restaurant magazine. And now, a second top-three ranking on the North America’s 50 Best Restaurants 2026 list.
Last week, the Niagara restaurant was named No. 3 among the top 50 restaurants in North America. Chicago’s Smyth came in at No. 1, followed by Eight, an eight-seat 20-course speakeasy in Calgary.
Photo credit: Jazz / Adobe Stock
Canada and Ontario open applications for new Development Charge Reduction Program
The Ontario government is opening applications for a new program that is intended to reduce building costs and speed up the construction of new homes. As part of the up to $8.8 billion partnership announced in March, the Development Charge Reduction Program (DCRP) will deliver federal and provincial funding over 10 years for housing-enabling infrastructure projects, with funding prioritized for municipalities that reduce development charges for all residential types by 30 per cent to 50 per cent or greater and maintain the reductions for at least three years.
Housing-enabling projects would be prioritized with consideration for the number of homes enabled by the project. Municipalities are strongly encouraged to be as ambitious as possible in their DC rate reductions to secure as much funding as possible for their communities.
Picture credit: Emmanuel / Adobe Stock
Canada sends letter to U.S., Mexico calling for renewal of trade agreement
While official CUSMA trade talks between Ottawa and Washington have yet to begin, the United States and Mexico have started their negotiations.
The letter from Canada-U.S. Trade Minister Dominic LeBlanc to United States Trade Representative Jamieson Greer and Mexico’s Secretary of Economy Marcelo Ebrard is required as part of the mandatory review of the Canada-U.S.-Mexico Agreement on trade, known in Canada as CUSMA.
The continental trade pact has shielded Canada and Mexico from the worst impacts of U.S. President Donald Trump’s tariffs.
Picture credit: schapinskaja / Adobe Stock
New report proposes unique solution to Canada’s housing shortage
Canadian wood producers and manufacturers say they know how to solve the country’s housing shortage and, at the same time, increase demand in the construction industry for their products.
The “two-fer” solution is laid out in a recent report published by the Canada West Foundation (CWF).
The report is based on a December 2025 roundtable at which the Canadian Wood Council (CWC) and the Forest Products Association of Canada (FPAC) convened leaders from construction and forestry to discuss how to increase the use of wood products in prefabricated, modular and panelized wood construction in residential multi-storey buildings.
The report outlines that factory-built components make better use of materials and skilled labour, reducing waste and increasing productivity.
Picture credit: Tierney / Adobe Stock
Chinese-made electric vehicles start arriving in Canada
More than 2,900 Chinese-made electric passenger vehicles arrived in Canada during the month of May. Data from Global Affairs Canada indicates that May was the first month of EV imports from China after Prime Minister Mark Carney agreed to let in tens of thousands of the vehicles under a reduced tariff rate during a trip to the country in January.
It states 2,910 cars arrived in May and more are on the way but it doesn’t indicate which brands or models are arriving. Carney did say at the Economic Club of New York last week that “it looks like” most of the models will be Teslas made in China.
Picture credit: Shutter B / Adobe Stock
Brace for the coming labour squeeze as 25,500 Canadians retire every month
For the first time on record, outside the pandemic, the nation’s workforce will shrink more than the population this year, according to a new report from Royal Bank of Canada.
As the last of that historically huge generation, the baby boomers, nears retirement age, the number of older Canadians leaving the workforce has hit record highs. Roughly 0.12 per cent of the workforce are retiring each month, about 25,500 workers, said RBC. That’s nearly double the number two decades ago.
Focus on Finance & Economy
Make Canada more investable again through competitive taxes
Charles Lamman, The Hub
Canada’s tax system hinders investment and economic growth. Contributing factors include: increases in personal income tax rates, hostile treatment of private corporations, and the introduction of various taxes and subsidies as contributing factors.
There is room for comprehensive tax reform, including reducing personal and corporate tax rates, raising income thresholds, implementing capital gains rollover relief, and broadening the consumption tax base.
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.
