Weekly Digest – 21 February 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Interest rate cuts would ease housing supply constraint, Fraser suggests

Cuts to interest rates in Canada may lead to better housing supply, Housing Minister Sean Fraser suggests.

As pandemic bills come due, are Canada’s small businesses in danger?

How many mom-and-pop shops on our main streets are destined to disappear in the coming year? Should governments be doing more to keep them afloat? What’s the long-term impact on our economy?

2024 Pre-Budget Submission

The Canadian Chamber of Commerce, on behalf of their broader membership of 200,000 Canadian businesses, has submitted their 2024 pre-budget recommendations to the federal government.

Canada’s economy added 37,000 jobs in January as unemployment declines to 5.7%

The Canadian economy added 37,000 jobs in January as unemployment fell slightly to 5.7 per cent, the first decline since December 2022, according to a Friday report from Statistics Canada.

Government announces Canada Carbon Rebate amounts for 2024-25

The Canada Carbon Rebate (previously known as the Climate Action Incentive Payment) returns fuel charge proceeds to Canadians through direct deposit or cheque, every three months, ensuring most households get more money back, with lower-income households benefiting the most. Today, the federal government announced the Canada Carbon Rebate amounts for 2024-25.

What do Canadian consumers have in store for entrepreneurs in 2024?

Consumer spending is the engine of Canada’s economic growth, accounting for some 60% of GDP. As consumers increasingly cut back on spending in response to inflation and high interest rates, a growing number of companies are worried about slowing sales in the coming months. This edition of the Economic Letter looks at the state of consumer spending in Canada, what to expect from consumers in the coming months, and above all, how companies can capitalize on emerging trends to grow their sales.

RRSP 2024 deadline: What you need to know (and whether you should contribute)

For years, Registered Retirement Savings Plans (RRSPs) have been touted as the best way for Canadians to save money for the future. But with other government-registered savings accounts now available, some Canadians are wondering if RRSPs are as useful as they once were, says Emile Khayat, senior regional manager of financial planning at TD Wealth.

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