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5 Things to Know Today: Gas Tax Holiday Extended to 2027, BoC Holds, TSX Rebounds

  September 3, 2026 A big one for your wallet just landed: Ottawa is keeping the gas tax break alive well past Labour Day. Here's what else moved markets and money in Canada today. 1. Gas tax holiday extended to January 31, 2027 The federal fuel excise tax break that was set to expire on Labour Day (Sept. 7) isn't going anywhere. Finance Minister François-Philippe Champagne confirmed the suspension of the 10-cent-per-litre gasoline excise tax and 4-cent-per-litre diesel tax will now run until January 31, 2027, before being phased back in at half-rate from Feb. 1 to March 31 and fully restored April 1. Ottawa first introduced the break in April to offset oil-price shocks tied to the Iran war. What it means for you: The scheduled Sept. 8 jump of 10–11 cents a litre is off the table for now. CAA pegged the national average at 172.9 cents/litre this week — budget around that level rather than the higher price many drivers had braced for. 2. Bank of Canada holds rate at 2.25% for a...
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Federal Immigration Department Announces Major Job Cuts


Two federal public service unions have revealed that the Immigration Department is set to cut over 3,300 jobs over the next three years. The Public Service Alliance of Canada (PSAC) and the Canada Employment and Immigration Union issued a joint statement expressing concern over the lack of information regarding who will be affected by the cuts.

The unions emphasized that the department's staff are essential for processing citizenship and permanent residency applications, issuing passports, and conducting interviews. They urged the government to reduce outside contracting instead of downsizing staff.

The job cuts are part of the government's broader effort to refocus federal spending, which has been ongoing since 2023. The unions are calling for transparency and a reconsideration of the cuts, highlighting the potential impact on the department's ability to fulfill its duties.

Affected employees are expected to be notified in mid-February, with letters being sent out to those impacted. The unions continue to advocate for their members and push for alternative solutions to achieve budgetary goals.



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