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Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready?

  Canada’s Economy Has Now Stalled Twice. Is Your Emergency Fund Ready? Canada's economy is losing momentum, and it is a good time to ask yourself an important question: If your income disappeared tomorrow, how long could you cover your bills without borrowing money? Statistics Canada's latest GDP report, released October 30, showed that Canada's economy recorded virtually no growth in August for the second consecutive month. An early estimate suggests economic activity contracted by 0.1% in September. Preliminary figures indicate that the economy grew by just 0.3% during the third quarter, although the official numbers have yet to be released. The slowdown follows a period of economic uncertainty, elevated household expenses and pressure on borrowers. While these figures do not confirm that Canada is entering a recession, they highlight why households should prepare for unexpected financial setbacks. The good news? You do not need a large income to start building a financi...
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Federal Court Upholds Trudeau's Prorogation Decision

 

In a landmark ruling, the Federal Court has dismissed a legal challenge against Prime Minister Justin Trudeau's decision to prorogue Parliament earlier this year. The challenge, brought forward by two Nova Scotia residents, argued that Trudeau's move lacked reasonable justification and undermined Parliament's constitutional role. However, Chief Justice Paul Crampton concluded that the Prime Minister acted within his constitutional authority.

The court acknowledged the applicants' concerns about the growing concentration of power in the executive branch but found no evidence that Trudeau's decision exceeded legal limits or was solely driven by partisan motives. The ruling emphasized that the Prime Minister's advice to the Governor General, Mary Simon, to prorogue Parliament was not subject to judicial review in this context.

Trudeau had justified the prorogation as a necessary "reset" for a gridlocked Parliament and announced his intention to resign as Liberal leader, paving the way for new leadership. The decision has sparked debate about the balance of power between Canada's executive and legislative branches, but for now, the court's ruling affirms the legality of Trudeau's actions.

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