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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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Global Markets in Turmoil: Trump's Tariffs Shake Wall Street

 

Wall Street faced a dramatic downturn on Monday, following President Donald Trump's announcement of sweeping tariffs on imports. The move has sent shockwaves through global markets, with major indices in Europe, Asia, and North America experiencing significant losses. The S&P 500, Dow Jones Industrial Average, and Nasdaq all saw sharp declines, reflecting investor fears of slowed economic growth and rising inflation.

Trump's tariffs, ranging from 10% to 50%, have sparked concerns about a potential recession and disrupted international trade. Economists warn that these measures could reduce U.S. economic growth by two percentage points this year while pushing inflation close to 5%. The ripple effects are being felt worldwide, with oil prices dipping below $60 per barrel and stock markets in Germany, France, and Japan also suffering heavy losses.

As markets brace for further instability, the global economic landscape remains uncertain. Investors and businesses alike are watching closely to see how these tariffs will reshape trade dynamics and impact financial stability.

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