Budget 2025: Ottawa to slash foreign aid spending to pre-pandemic levels

The upcoming Budget 2025 is expected to face criticism from opposition parties, but ultimately, they are likely to let it pass. As the political landscape shifts, the focus will be on which party benefits most from an election, though it appears that none will gain significantly from this situation.

The Liberal government is stepping up to support canola farmers and other sectors affected by U.S. and international tariffs, as outlined in the recently released federal budget for 2025.

Canada's new climate strategy outlined in Budget 2025 lacks a commitment to emissions reduction and does not propose any incentives for Canadians to lower their emissions, such as reviving subsidies for electric vehicle purchases.

The government's 2025 budget reveals an ambitious plan with $141.4 billion in new spending, balanced by $51.7 billion in projected savings over the next five years. This strategic approach aims to foster growth and stability.

In a move that many are celebrating, Carney is cutting the luxury tax as part of Budget 2025. This budget also introduces a 'super-reduction' to Canada's marginal effective tax rate and aims to enhance traveller screening at airports through further automation.

Ottawa is set to allocate a substantial $73 billion for defence in the upcoming Budget 2025. While the details are sparse, this significant investment suggests a commitment to enhancing the country's military capabilities and aligns with the government's Defence Industrial Strategy.

In a surprising move, the Canadian federal government revealed in its annual budget that it will be reducing immigration targets for the coming years, raising concerns about the impact on the economy and communities.

Human rights groups are raising alarms over the flow of weapons from the UAE to Sudan, suggesting that planes intended for humanitarian aid are instead transporting arms, potentially including Canadian-made weapons. This situation is concerning as it highlights the risks of military supplies undermining humanitarian efforts in conflict zones, and it calls for urgent action from Ottawa to prevent further escalation.

The municipality of Clarington in Ontario is considering an offer to acquire Camp 30, a former WWII-era prisoner of war camp. While this could preserve a significant piece of history, concerns about the financial implications of maintaining the site are causing uncertainty about the future of the camp. This situation highlights the balance between historical preservation and fiscal responsibility.

Brussels airport faced significant disruption as it had to close overnight due to reported drone sightings, affecting numerous flights and thousands of passengers. This incident highlights the increasing concerns over drone activities near civil airports in Europe, raising questions about safety and security. As flights resumed on Wednesday morning, the Belgian security council is set to meet to address these ongoing issues, emphasizing the need for effective measures to prevent such disruptions in the future.

Former Liberal president Jason Falinski has expressed strong concerns about the party's potential decision to abandon its net zero commitments, warning that it would send a discouraging message to young Australians and could negatively impact their support in the upcoming election. He argues that such a move would be seen as capitulating to standover tactics, undermining the party's credibility on climate issues. This situation is significant as it highlights the internal conflicts within the party regarding climate policy and the potential repercussions for their electoral prospects.

The recent review by the Trust has raised serious concerns as it revealed that eight women had their smear tests misread, leading to cancer diagnoses. This alarming finding highlights the critical need for accurate cervical cancer screenings and accountability in healthcare practices. As the reports are set to be released, many women are demanding answers and reassurance about their health and safety, emphasizing the importance of reliable medical procedures.

Asian chipmakers are facing a significant downturn as global stock markets react to fears of an impending equity correction, driven by concerns over inflated tech valuations. Deutsche Bank analyst Jim Reid highlighted the growing anxiety among investors, which has led to a risk-off sentiment in the markets. This situation is particularly important as it reflects broader economic uncertainties and could impact investment strategies moving forward, especially in the tech sector.

Germany is set to significantly boost its financial support for Ukraine, with aid potentially reaching €11.5 billion ($13.2 billion) next year. This increase is crucial as it underscores Germany's commitment to assisting Ukraine amid ongoing challenges, and it reflects a broader trend of international support for the country. Such funding can help stabilize Ukraine's economy and bolster its defense efforts, making it a pivotal moment in the ongoing conflict.