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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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Bracing for the Big Chill: Ontario Faces Extreme Cold Warnings

 

As Ontario grapples with a severe cold snap, extreme cold warnings have been issued across the province, with wind chill values plummeting to around -40°C in many areas. The frigid temperatures are expected to persist until Wednesday, posing significant risks to residents.

Environment Canada has highlighted the dangers of such extreme cold, warning that frostbite can develop within minutes on exposed skin. The agency advises people to limit their time outdoors, dress in layers, and cover all exposed skin. Vulnerable populations, including the elderly and homeless, are particularly at risk, and warming centres have been opened in various communities to provide relief.

The cold snap has also led to school bus cancellations and increased demand for community services. Residents are urged to check on neighbors, friends, and pets to ensure everyone stays safe during this dangerously cold period.



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