In this edition:
Ontario will allow credit unions to offer more services
Niagara Public Health recommends workplaces continue vaccination policies
Ontario eliminates local transit fares when connecting to GO
GNCC highlights electricity costs in first day of Ontario Chamber network 2022 Advocacy Series
Ontario will allow credit unions to offer more services
New legislation will allow credit unions and caisses populaires to provide more options through expanded services to its members, including small businesses in the agriculture, hospitality and tourism sectors.
Highlights of the Credit Unions and Caisses Populaires Act, 2020 include:
- Removing restrictions that currently limit credit unions’ ability to invest and offer services to consumers.
- Allowing the sale of property and casualty insurance in branches and online.
- Enabling the Financial Services Regulatory Authority of Ontario (FSRA) to operate as a principles-based regulator that maintains the stability of the credit unions and caisses populaires sector.
- Enabling FSRA to have better oversight of the sector through an industry-led market code of conduct and a strengthened compliance regime.
Niagara Region Public Health recommends workplaces continue vaccination policies
Public Health advises residents and businesses to make individual choices to protect themselves and their communities from COVID-19. In particular, while not a requirement under provincial legislation or local orders, Public Health strongly recommends that organizations maintain proof-of-vaccination and employee vaccination policies.
In order to align proof-of-vaccination requirements with the current science on vaccinations, Acting Medical Officer of Health Dr. Mustafa Hirji has called on the provincial government to incorporate booster doses into their proof-of-vaccination QR code system. This will allow those businesses who continue to opt for this protective measure to provide the best possible protection to their customers and employees. Similarly, Public Health recommends that organizations strengthen their workplace vaccination polices by adding a booster dose requirement at 4-7 months after the second dose.
For organizations that are continuing proof of vaccination or workplace vaccination polices, Public Health encourages designing them with the involvement of legal and labour relations experts.
Ontario eliminates local transit fares when connecting to GO
The province is eliminating the fare for most local transit when using GO Transit service and increasing PRESTO discounts for youth and post-secondary students. Beginning March 14, local transit will be free for riders connecting to and from GO Transit on municipal transit systems with GO Transit co-fare agreements.
The GO Transit co-fare discounts apply to the following agencies: Durham Region Transit, Milton Transit, Grand River Transit, Guelph Transit, Oakville Transit, MiWay, Brampton Transit, Hamilton Street Railway, Burlington Transit, Bradford West Gwillimbury Transit, York Region Transit, and Barrie Transit.
No Niagara transit agencies are included. The GNCC hopes that a co-fare agreement can be reached as part of the work to integrate and enhance Niagara’s public transit systems.
GNCC highlights electricity costs in first day of Ontario Chamber network 2022 Advocacy Series
Today, the Ontario Chamber of Commerce (OCC) kicked off its 2022 Advocacy Series by meeting with all four of Ontario’s political parties this week to advocate for public policies that support business predictability, stability and growth, including through a safe and sustainable reopening.
Throughout this week, Ontario Chamber Network leaders from across the province will advocate for the right conditions to support and protect business resilience in Ontario throughout the 2022 Advocacy Series.
At an opening session with Minister of Energy Todd Smith, GNCC staff thanked the Ministry for its recent reductions to electricity rates, and suggested that a future review of time-of-use billing when the temporarily-lowered rates end should incorporate a full cost-benefit analysis to use the program not just as a driver of energy conservation, but of economic growth, and to calculate the economic costs of such programs as well as the potential energy savings.
Reading Recommendations
Canada’s economy was growing at 6.7% pace at the end of 2021
CBC News
The Canadian economy mostly started 2022 on strong footing, despite the impact of the Omicron coronavirus variant and protests that shut down key border crossings, as fourth quarter growth came in above expectations, official data showed on Tuesday.
Canada’s economy grew 6.7 per cent in the fourth quarter on an annualized basis, beating analyst expectations of 6.5 per cent, while January GDP most likely rose 0.2 per cent after stagnating in December, Statistics Canada data showed.
With January’s gain, which is a preliminary estimate, economic activity is now 0.6 per cent above pre-pandemic levels, the agency said.
“While the clouds darkened a bit before the end of the year … GDP posted a surprising 0.2 per cent advance in January despite the Omicron wave and all of the associated job losses,” said Royce Mendes, head of macro strategies at Desjardins Group.
Update on Ukraine
Canada imposes new sanctions on Russian individuals, bans Russian ships from Canadian waters, prohibits import of Russian oil, and offers additional $100 million in assistance to Ukraine
Effective immediately, Canada is imposing new sanctions in response to Russia’s unprovoked and unjustified invasion of Ukraine.
The new amendments impose restrictions on 18 members of the Security Council of the Russian Federation responsible for these actions. The new measures also expand existing prohibitions imposed on 3 Russian financial entities beyond the areas of sovereign debt, as announced on February 24, 2022.
The Government of Canada also announced that it intends to ban Russian-owned or registered ships and fishing vessels in Canadian ports and internal waters. The ban is expected to be in effect later this week through orders made pursuant to the Special Economic Measures Act.
The government will also ban crude oil imports from Russia. According to the Canada Energy Regulator, Canada does not currently import any crude oil from Russia, and has not since 2019. The new ban will ensure this remains the case going forward. Once approved, this ban will be effective until further notice.
Finally, the government will offer an additional $100 million in humanitarian assistance to help experienced partners address the most pressing humanitarian needs on the ground in Ukraine and neighbouring countries. This support will help provide emergency health services (including trauma care), protection, support to displaced populations and essential life-saving services such as shelter, water and sanitation, and food.
Niagara COVID-19 statistics tracker
Niagara COVID vaccination tracker
Information on government grants, resources, and programs, policies, forms, and posters for download and use, are available here. The GNCC is here to support you. Contact us with any questions you have.
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.
