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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...
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Freight Train Standstill: Canadians Await Details on Railway Reopening

 

Businesses and industry leaders across Canada are holding their breath as they await updates on when freight trains will resume operations. The federal government has stepped in after a work stoppage brought all shipments to a halt for an entire day.

Months of tense negotiations between Canadian Pacific Kansas City Ltd. (CPKC) and Canadian National Railway Co. (CN) reached a breaking point when the two sides failed to reach a deal by 12:01 a.m. eastern time on Thursday. In response, both companies locked out workers.

Federal Labour Minister Steven MacKinnon swiftly intervened, asking the Canada Industrial Relations Board (CIRB) to impose binding arbitration on the parties. He also requested that the railways resume operations under the terms of the old collective agreement until new deals are in place.

CN promptly lifted its lockout in anticipation of a formal order from the board, while CPKC prepared to restart operations. However, the Teamsters union, representing rail workers, refused to discuss resuming service and instead challenged the constitutionality of MacKinnon’s direction.

The impact of this work stoppage extends beyond supply chains. Tens of thousands of commuters in Toronto, Montreal, and Vancouver rely on lines running on CPKC-owned tracks. The urgency to restore rail services is palpable, and all eyes are on the CIRB’s decision.


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