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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...

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Europe Beckons as Starmer Reassesses UK’s Strategic Priorities

A USAF B1 Bomber takes off at RAF Fairford airbase, used by United States Air Force personnel, in Fairford, Gloucestershire.

Prime Minister Keir Starmer has signaled a decisive shift toward deeper cooperation with European allies as the Iran conflict continues to destabilize global politics and strain the UK’s relationship with the United States. 

Starmer warned that the geopolitical and economic fallout from the Iran war could “define us for a generation,” drawing parallels to the energy shocks of the 1970s. He argued that Britain’s long‑term security and economic interests now require closer alignment with Europe, particularly as transatlantic tensions rise. 

The prime minister announced plans for an upcoming summit with the European Union aimed at repairing what he described as the “deep damage” caused by Brexit. His comments follow repeated criticism from U.S. President Donald Trump, who has chastised European nations for refusing to join the U.S.-Israeli campaign against Iran and warned allies to “start learning how to fight for yourself.” 

Relations between London and Washington have cooled since Starmer declined an early U.S. request to launch attacks on Iran from British bases—though he later permitted limited defensive missions to protect civilians in the region. Despite the friction, Starmer emphasized that the U.S.–UK alliance remains strong, insisting he will act in Britain’s national interest “whatever the pressure on me.” 

While no new domestic relief measures were announced, Starmer confirmed that the UK will host high‑level meetings this week with international partners to reopen the Strait of Hormuz, a critical chokepoint whose disruption has driven up global energy prices. Thirty‑five countries are now involved in the effort. 


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