The Spring Economic Update is out..............I'm underwhelmed.
Table of contents — Part of Spring Economic Update 2026.
budget.canada.ca
The flagship item not already announced its a huge sum of money to incent young people to go into the trades and employers to participate in hiring/training.
That's fine, seriously, though I'm not sold that its the best use of dollars.
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Other items of note.
- A new initiative shy on details on modernizing how airports are managed with an eye to cutting air travel costs.
- Beginning Jan 1st, 2027, the legislated deduction to fund CPP will drop from 9.9% to 9.5% as a result of the CPP's sustained surplus, the relief applies equally to employers and the employed and would result in annualized savings of $133 for ~70k per year worker.
- If you're paid every 2 weeks, thats $5.11 extra in your pay cheque.. (its a fine and reasonable move, but not exactly a game changer)
- Lots of ongoing vague promises of progress on internal trade barriers and the suggestion of aiming for deals with Mercosur (Brazil, Argentina et . al), India, and several south-east Asian nations including the Philippines.
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Not present:
- Nothing about clawing back OAS from people who don't need it and boosting the incomes of low-income seniors and families who do.
- Nothing clear or bold on transit or health infrastructure
- The debt strategy, which reads as more as a hope and a prayer than a strategy is really missing both detail and substance, but also the ambition to return to balance.