Top Business Headlines
 

April 20, 2021

 
 
Top news
 
Federal budget 2021: Liberals seek to tighten corporate tax laws and close loopholes but avoid sweeping changes
 

REUTERS FILE PHOTO/Reuters

  Federal budget 2021: Liberals seek to tighten corporate tax laws and close loopholes but avoid sweeping changes
 

James Bradshaw

 
Banking Reporter
The federal budget aims to tighten up corporate tax laws rather than reform them, applying rules more strictly and closing loopholes instead of making wider changes to the tax burden on companies.
 
In several instances, the budget released on Monday takes aim at businesses – most notably multinational corporations – that exploit weaknesses in existing laws to avoid paying taxes. But the government made no broader move to raise or cut core taxes for companies in Canada, even as U.S. President Joe Biden looks to raise rates for American companies and his administration has endorsed a global minimum corporate rate.
 
 
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Editor's picks
 
 
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Federal budget 2021: Small-business boost key to economic recovery: Liberals
 

John Morris/John Morris

  Federal budget 2021: Small-business boost key to economic recovery: Liberals
 

Chris Hannay

 
Independent business reporter
 
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Brookfield Renewable sells wind assets to NextEra, Orsted
 

Adrian Wyld/The Canadian Press

  Brookfield Renewable sells wind assets to NextEra, Orsted
 

Brent Jang

 
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Latest posted news
 
Procter & Gamble to hike prices on some household staples in U.S.
 
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$10-a-day child care needs to serve all working parents
 
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  Ivanhoe Cambridge ties staff pay to ESG goals as part of zero-emissions push
 
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Opinion
 
  Federal budget 2021: Liberals bet big that we can spend our way out of deficit problems
 

David Parkinson

In plotting a path for containing Canada’s post-pandemic debt and deficits, the federal Liberal government has embraced the route over which it has the least control. It might ultimately prove to be a wise course. But it’s certainly not a low-risk one.
 
Monday’s budget features the second-largest deficit in history – $154.7-billion in 2021-22 – exceeded only by the estimated $354.2-billion racked up in the COVID-riddled fiscal year that just ended last month.
 
It boasts a new three-year, $101-billion spending package aimed at propelling the economy out of its pandemic blues. It features a national child-care plan that promises to permanently add more than $8-billion to Ottawa’s annual program spending commitments. It doesn’t propose any major tax increases to pay for all of this.
 
 
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Energy and resources
 
  Alamos Gold plans $1-billion arbitration suit against Turkey over mine renewal
 
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financial services
 
‘Britcoin’ not bitcoin? U.K. considers new central bank digital currency
 
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Inside the Market
 
  Contra Guys: A motivated new CEO’s vision should encourage investors in this multinational insurer
 
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Economy
 
  Rosenberg: Budget 2021 is a vote-buying multi-year massive spending binge that Canada is unlikely to afford
 
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Technology, telecom and media
 
  Daily Mail files antitrust lawsuit against Google
 
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International business
 
Boeing shares fall 4% as long-time CFO announces surprise retirement
 
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Small business
 
  Small businesses make pre-budget plea to Ottawa: Keep wage and rent subsidies going
 
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Careers
 
Do you work in a non-profit? Now’s the time to convince your directors to push for political change
 
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In case you missed it
 
The resurrection of MEC: Inside the beleaguered retailer’s bid for a comeback
 

DARRYL DYCK/The Globe and Mail

  The resurrection of MEC: Inside the beleaguered retailer’s bid for a comeback
 

Susan Krashinsky Robertson

 
Retailing reporter
 
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