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Federal Budget 2025: What It Means for Your Money

The 2025 federal budget introduces a mix of tax cuts, housing measures, and spending shifts that will directly affect Canadians’ day-to-day finances. While the government projects a significant deficit, the plan focuses on affordability and long-term growth. Here are eight key ways it impacts your wallet: 1. Lower Income Taxes The lowest federal tax bracket will be reduced from 15% to 14% starting mid-2025, giving middle-income earners some relief. 2. Vacant Home Measures The Underused Housing Tax will be expanded to discourage vacant and underutilized properties, aiming to free up more housing supply. 3. Student Loan Relief Repayment assistance will be enhanced, with lower income thresholds and capped monthly payments to ease the burden on graduates. 4. Consumer Protection New rules will cut down on excessive banking fees and strengthen protections for financial consumers, especially those with modest incomes. 5. Housing Affordability Programs Funding will support first-...
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Canada Post Strike Disrupts Black Friday Sales and Holiday Shipments

 

The ongoing Canada Post strike has significantly disrupted Black Friday sales and holiday shipments, causing frustration among businesses and consumers alike. The strike, which began on November 15, 2024, has now entered its third week, with over 55,000 postal workers demanding improved wages and job security.

The timing of the strike couldn't be worse, as the period leading up to Black Friday and the holiday season is typically the busiest time of the year for Canada Post. The Crown corporation has reported missing out on delivering approximately 10 million parcels since the strike began. This has forced many small businesses to seek alternative, often more expensive, shipping options.

Retail analyst Bruce Winder noted that while larger retailers with their own logistics networks are less affected, small businesses are bearing the brunt of the strike. "The price increase from Canada Post to couriers is significant, and most small businesses can't afford to absorb these costs," Winder said.

Dan Kelly, president of the Canadian Federation of Independent Business (CFIB), added that some small businesses might take a loss this season just to get goods out the door and avoid inventory pileups in the new year. "If we don't have the strike resolved this week, most merchants are not going to be able to use Canada Post as a reliable delivery service," Kelly warned.

Even if the strike is resolved soon, it will likely take weeks for Canada Post to clear the backlog of unsent items and catch up with the demand. This means that many holiday packages may not arrive until after Christmas, causing further inconvenience for consumers and businesses.

The strike has also highlighted the vulnerability of rural and remote communities that rely solely on Canada Post for their mail delivery. "Everyone saying we don't need Canada Post obviously doesn't live in a rural area that couriers don't come to," one consumer commented online.

As negotiations between Canada Post and the union continue, businesses and consumers are left hoping for a swift resolution to minimize the impact on the holiday season.



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