  By Tom Parkin
March 24th, 2025
BURLINGTON, ON
No one’s ever accused Mark Carney of being middle class. But the former Toronto investment banker’s proposed “middle-class tax cut” includes ultra-high income earners like him.
The Liberal leader launched his campaign promising a “middle-class tax cut” that gives top benefits to millionaires and billionaires.
Carney’s plan would reduce the tax rate of the first tax bracket by one point, from 15 to 14 percent.
That generates a $574 benefit to anyone with a taxable income over $57,375 and right up to the top income earner. Those earning less than $57,375 would get a smaller benefit.
In 2015, Justin Trudeau also promised a “middle class” tax cut, but one that came with an off-setting tax increase on income over $250,000. That off-set cancelled any benefit once income exceeded about $263,000.
But with no offset in Carney’s plan, even the highest income earners in Canada are included in Carney’s “middle class” tax cut. The maximum $574 would be paid to Galen Weston, Chip Wilson, the Irvings, or the Thompson family. And Mark Carney.
Tax payable on a taxable income of $30,000 would be reduced by $300 and tax payable on $50,000 would fall $500.
While anything is helpful for low-income Canadians, bolder steps like the national dental care program deliver much more impact, saving a low-income family of four $1,809 a year, according to 2024 budget documents.
class=”header-anchor-post”>Carney kills planned tax hike on capital gains over $250,000 a year
 Prime Minister Mark Carney Today’s pledged tax cut for even the richest Canadians comes after Carney cancelled Trudeau’s plan for two-thirds of capital gains over $250,000 a year to become subject to income tax, up from half. Half of the amounts up to $250,000 a year would continue to go tax-free.
Capital gains are the amount earned from buying then selling capital assets, such as company stock, and are treated differently than employment income in tax law.
In recent research paper in Policy Options, tax experts using 2019 tax filer information found the entire benefit of Carney’s cancellation would flow to just 46,705, or 0.16 percent, of tax filers. That group had an average income of $1,183,157 in 2019.
For 99.86 percent of Canada’s 29 million tax filers, there would be no benefit from Caney’s tax cancellation.
In 2027-2028, cancelling capital gains changes is projected to be worth $1.8 billion to that very small pool or investors earning more than $250,000 a year in capital gains. The amount saved is projected to rise to $2.3 billion in 2028-29.
On starting at the Bank of England in 2013, Carney was being paid $1.4 million a year. Seven years later, Carney left to join Brookfield Asset Management, an investment bank with $1 trillion in assets that owns everything from privatized hospitals to local utilities and real estate.
Carney served as Brookfield board chair, resigning January 16, 2025.
Last week, a US corporate filing by Brookfield Asset Management shows Carney and two other executives together earned $4 million in salary, $3.5 million in cash bonuses and $67,439 paid to retirement savings contributions and Brookfields’ executive medical program.
The $7,567,439 total, if averaged between the three executives, would be $2,522,479 each.
Despite his ultra-high income, Mark Carney has included himself in his “middle-class tax cut.”
Brookfields’ 10-K filing also shows Carney held 409,300 Brookfield share options on December 31, 2024. On Friday’s close, Brookfield stock traded at $53.65. But Carney’s options let him buy those shares for the deeply discounted price of $37.54.
If Carney exercised any share options on Friday, he would’ve earned $16.11 per share, the difference between the $53.65 market price and the $37.54 option price. If he exercised all his 409,300 share options on Friday, he would have earned $6,598,823.
While stock option income is usually treated as a capital gain, and therefore only half taxed, earnings from stock options received as employment compensation are employment income and must all be included as income. However, the employee stock option benefit deduction parallels the capital gains inclusion rate, delivering the same effect, a detailed topic for a future date.
By Julieta Belen Correa
February 10th, 2025
BURLINGTON, ON
Canada is home to some of the most diverse bucket-list destinations on the planet — it has some of the best ski slopes, thousands of kilometres of untouched nature, and multiple hubs of commerce and entertainment of international renown. This, coupled with its expansive tourism push in recent years, means that Canada relies on an adaptable and modern aviation industry.
Luckily for tourists and Canadians alike, the nation hosts North America’s busiest and most technologically advanced airports, perfect for handling the influx of tourism expected over the next ten years. Take a look at the top ten busiest airports in Canada.
10. Kelowna International Airport (YLW)
You can fly into Kelowna, a critical gateway to British Columbia’s Okanagan region, to explore some of Canada’s best wineries, lake regions, and the breathtaking scenery of Osoyoos. The airport serves around 2,000,000 passengers a year and offers destinations nationwide and routes all the way down to sunny Mexico.
 Billy Bishop, named after a Canadian war hero is an airport minutes from downtown Toronto 9. Billy Bishop Toronto City Airport (YTZ)
Toronto’s second-largest airport, situated on the Toronto Islands, is named after one of Canada’s most iconic fighter pilots. This airport caters to just over 2,000,000 passengers a year and makes a great alternative to the massive Toronto Pearson International Airport, especially if you’re looking for either domestic or short-haul flights. You can expect shorter security queues and faster processing times so that you can make every minute count of your vacation or work trip.
 If your destination as a tourist is Halifax International – you will want to visit Peggy’s Cove. 8. Halifax Stanfield International Airport (YHZ)
Coming in at 8th place on the list is Halifax Stanfield. The airport serves the Halifax region, mainland Nova Scotia, and other areas in the Maritime provinces. As Canada’s easternmost international airport, it is a vital connection for rural communities and also provides hundreds of jobs for the region’s tourism sector. The airport generated a massive C$4.2 billion for the Nova Scotia economy in 2023 alone, and with a rise of over 20%, it’s expected to continue to grow in the coming years.
The airport is also home to numerous Fixed-Based Operators (FBOs), private companies that provide essential aviation services like fuel, parking, maintenance, and passenger amenities.
7. Winnipeg James Armstrong Richardson International Airport (YWG)
Winnipeg James Armstrong Richardson International Airport, located in the Winnipeg Capital Region, handled just over 4 million passengers last year. YWG is crucial for connecting small communities living in difficult conditions with regularly scheduled flights to Northern Manitoba, Northwestern Ontario, and Nunavut.
6. Ottawa/Macdonald–Cartier International Airport (YOW)
As the airport serving Canada’s capital city, Ottawa International is a home base for Canadian North and a major hub for Porter Airlines, which is investing $65 million into the airport infrastructure over the coming years. The airport serves the National Capital Region with over 4 million passengers annually — a 36.9% increase on the previous year, the highest such growth among Canada’s busiest airports.
The airport’s modern terminal, extended in 2008, features artwork reflecting the region’s history and culture, creating a uniquely Canadian welcome for first-time visitors to the country.
5. Edmonton International Airport (YEG)
Climbing into the top 5 busiest airports in Canada sees a marked jump in passenger numbers, with a massive 7.4 million passengers flying in and out of Edmonton International Airport. The airport caters to residents and visitors to the Edmonton Metro Region, some three hours north of Calgary.
The airport itself is so busy due to the lack of other major cities in the region, making it the only major airport for those travelling from Alberta and Saskatchewan.
 Calgary International 4. Calgary International Airport (YYC)
Calgary International Airport, also known as “the gateway to the Rockies,” serves a whopping 18.5 million passengers a year. One reason for YYC’s huge numbers is its proximity to Banff and Canada’s impressive range of ski destinations.
YYC is home to two terminals — one domestic and one international — and serves as the main hub for Canadian airline WestJet. The airport offers world-class accessibility with modern parking systems, easy-to-use car rental services, and the reliable Calgary Transit System, which offers routes across the region.
3. Montréal–Trudeau International Airport (YUL)
Serving the Greater Montreal area, Montréal–Trudeau International Airport is a bustling hub that managed over 21 million passengers in 2023. This large operation is the region’s primary link between Canada’s French-speaking population and the rest of the world.
YUL’s strategic location makes it perfect for transatlantic flights, with popular routes to Paris, London, and Frankfurt. This dynamic location, combined with a modern general aviation terminal, makes it an ideal airport for those looking to charter a private plane to Europe and beyond. Domestic travellers also benefit from frequent flights to Toronto, Vancouver, and Halifax.
 Vancouver International 2. Vancouver International Airport (YVR)
Vancouver International Airport, nestled on Sea Island in Richmond, British Columbia, is the busiest airport in Western Canada. Welcoming almost 25 million passengers in 2023, the airport is the ultimate gateway to the region’s surrounding mountains, lakes, and the icy North Pacific. YVR is consistently ranked as one of the best airports in North America and was most recently named as the number-one airport on the continent in 2024.
Vancouver International is also the nation’s best link to Asia, with frequent flights to Tokyo, Hong Kong, and Seoul. Its location also makes it a popular stopover for flights to Australia and New Zealand.
1. Toronto Pearson International Airport (YYZ)
With almost double the capacity of number two on the list, Toronto has been Canada’s busiest airport for decades. It’s the primary hub for Air Canada and the second busiest arrivals hub for international travellers to North America. Serving the Greater Toronto Area, Pearson handled an impressive 44.8 million passengers in 2023, making it the pride of Canada’s already-impressive aviation industry.
 Pearson International Located just outside Toronto in Mississauga, Pearson offers direct flights to destinations on every continent. With its cutting-edge amenities, including world-class dining and shopping, Toronto Pearson sets the standard for Canadian airports when it comes to sheer size and availability.
Canada, Connected
With some of the most forward-thinking, accessible, and downright massive airports in North America, Canada continues to impress year-on-year with its dazzling array of airports. Vancouver continues to offer the best service in North America, Toronto Pearson connects you to the world with ease, and Calgary, Halifax, and Winnipeg airports continue to provide a vital lifeline to some of the continent’
By Pepper Parr
February 10th, 2025
BURLINGTON, ON
 2017 fire that destroyed most of the buildings The Paletta International site just off Appleby Line that was destroyed by fire in December 6th, 2017 is beginning to be re-animated.
The company has conditional site plan approval. The company is currently working through the various conditions one of which is obtaining Committee of Adjustment approval.
When completed the site and bring new employment and economic opportunity to the city.
Building designs are still a work in progress however there is a site plan.
Along with plans to eventually construct a new Alinea headquarters building, there will be approximately 300,000 square feet of new leasable light industrial / employment space in three new buildings.2017
Everything on the 18.5-acre property will be demolished and replaced with modern employment and office buildings. Given the uncertainty of timing to this point, no tenants for the light industrial / employment space have been sought yet; that will come in due course. “We are already getting calls from companies expressing interest in being part of this exciting redevelopment,” said a company spokesperson.
The 2018 fire meant there were going to be many changes in what the company would do and the business they were going to be in.
The death of Pasquale “Pat” Paletta, in 2019 brought about changes in the leadership and management style.
 The late Pat Paletta with his four sons. One huge change for the company was the creation of Alinea which didn’t include all four of Pat Paletta’s sons. Angelo Paletta went in his own direction while the other three brothers formed Alinea that is now focused on plans for the Bronte Meadows site and the 1200 King Road property
“While there may be a few minor tweaks to this plan in relation to the future Alinea headquarters building, there is a general sense of what’s being planned.
Property that was acquired by the Paletta family in Burlington was first used to pasture cattle; the company grew to become the largest beef processing operation in Eastern Canada; it was later sold to Canada Packers.
 The structure shown in orange will be the head office for Alinea. The other three structures will be developed when market conditions are right. The company added poultry processing (Tender Choices) to its operations.
 Both business lines were eventually sold and the focus was shifted to property development.
Alinea is working out of what is left after the fire. “All existing buildings on the property will be demolished once Demolition Permits are obtained later this year. Specific demolition and construction timelines have yet to be determined, but we do know that for practical purposes development will need to be phased over several years.
Exciting days for the company
By Staff
February 4th, 2025
BURLINGTON, ON
John C. Munro Hamilton International Airport Announces a new strategic airline partner, Porter Airlines.
Porter will initiate service at Hamilton International beginning in early June 2025, introducing daily service from Hamilton to four popular domestic destinations: Calgary, Edmonton, Halifax, and Vancouver.
The airport will move now on planned terminal upgrades that will begin immediately.
 The long-term collaborative partnership between the City and TradePort, in place since 1996, has positioned the airport as a critical driver of connectivity, economic growth, job creation, and community partnerships for Hamilton and the surrounding region. Under the new lease, efforts to expand air service, enhance the passenger experience, and deliver safe, sustainable, and efficient operations will continue – starting with planned terminal upgrades that will begin immediately.
Airport enhancements will include an updated exterior frontage with new and expanded canopies to improve curb operations, and a refresh of terminal interiors from check-in counters and passenger screening areas to gate seating and baggage claim. Integration of architectural elements and finishes inspired by the region’s natural geography will lend the airport a unique sense of place, while new digital signage and lighting upgrades will enhance the overall travel journey.
Additionally, future enhancements will include passenger jet bridges to connect the terminal directly to aircraft – a first for Hamilton International – and terminal infrastructure upgrades to position the airport for future expansion to accommodate expected air traffic growth
Airport enhancements will include an updated exterior frontage with new and expanded canopies to improve curb operations, and a refresh of terminal interiors from check-in counters and passenger screening areas to gate seating and baggage claim. Integration of architectural elements and finishes inspired by the region’s natural geography will lend the airport a unique sense of place. New digital signage and lighting upgrades will enhance the overall travel journey.
Future enhancements will include passenger jet bridges to connect the terminal directly to aircraft – a first for Hamilton International – and terminal infrastructure upgrades to position the airport for future expansion to accommodate expected air traffic growth.
 By Harold Dickert
January 18th, 2025
BURLINGTON, ON
No one is talking about “Garbage into oil” technology. Not even the Canadian Liberal Party, who added major funding to the world’s largest facility now under construction just outside of Montreal – built by Enerkem (https://enerkem.com/).
 From 360 000 tonnes of waste To 285 000 000 liters of clean fuels
Continue reading We can turn garbage into fuel – so why aren’t we doing that
 By James Portside
January 17th, 2025
BURLINGTON, ON
This information is not professional investment advice. Investors are advised to do their own research into individual stocks before making an investment decision.
The five stocks with the largest dollar value of insider acquisitions in the public market are:
|
| Morguard Real Estate Investment Trust —–Buy Quantity: 99,700 Average cost: $5.50 Total: $548,294.92 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Morguard Corporation |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-15-25 |
57,400 |
$5.50 |
$315,644.92 |
| Morguard Corporation |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-14-25 |
14,400 |
$5.50 |
$79,200.00 |
| Morguard Corporation |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
27,900 |
$5.50 |
$153,450.00 |
|
| First National Financial Corporation —–Buy Quantity: 12,824 Average cost: $39.00 Total: $500,136.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| FNSC Holdings Inc. |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-14-25 |
6,412 |
$39.00 |
$250,068.00 |
| Smith Financial Corporation |
3 – 10% Security Holder of Issuer |
47 – Acquisition or disposition by gift |
01-14-25 |
-6,412 |
$38.99 |
-$250,003.88 |
| Smith, Stephen |
4 – Director of Issuer, 7 – Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) |
10 – Acquisition or disposition in the public market |
01-14-25 |
6,412 |
$39.00 |
$250,068.00 |
| Smith, Stephen |
4 – Director of Issuer, 7 – Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) |
47 – Acquisition or disposition by gift |
01-14-25 |
-6,412 |
$38.99 |
-$250,003.88 |
|
| Morguard Corporation —–Buy Quantity: 3,200 Average cost: $111.00 Total: $355,200.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Armoyan, Sime |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
3,200 |
$111.00 |
$355,200.00 |
|
| Jaguar Mining Inc —–Buy Quantity: 120,800 Average cost: $2.23 Total: $268,828.32 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| 2176423 Ontario Ltd. |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
60,400 |
$2.23 |
$134,414.16 |
| Sprott, Eric |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
60,400 |
$2.23 |
$134,414.16 |
|
| Tourmaline Oil Corp —–Buy Quantity: 2,500 Average cost: $66.44 Total: $166,109.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Rose, Mike |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-16-25 |
2,500 |
$66.44 |
$166,109.00 |
The five stocks with the largest dollar value of insider dispositions in the public market are:
|
| G Mining Ventures Corp —–Sell Quantity: -514,622 Average cost: $13.17 Total: -$6,780,144.22 Options Issued: 34,622 Average cost: $0.00 Total: $0.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| La Mancha Capital Management GP |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-160,000 |
$13.19 |
-$2,109,904.00 |
| La Mancha Investments S.à r.l. |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-160,000 |
$13.19 |
-$2,109,904.00 |
| Loza-Sawiris, Yousriya |
3 – 10% Security Holder of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-160,000 |
$13.19 |
-$2,109,904.00 |
| MacDonald, Norman |
4 – Director of Issuer |
51 – Exercise of options |
01-13-25 |
34,622 |
$0.00 |
$0.00 |
| MacDonald, Norman |
4 – Director of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-34,622 |
$13.01 |
-$450,432.22 |
|
| Canadian Natural Resources Limited —–Sell Quantity: -85,504 Average cost: $45.00 Total: -$3,847,721.98 Options Issued: 85,504 Average cost: $10.85 Total: $927,977.44 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Balog, Brenda Gayle |
5 – Senior Officer of Issuer |
51 – Exercise of options |
01-13-25 |
4,504 |
$19.36 |
$87,197.44 |
| Balog, Brenda Gayle |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-4,504 |
$45.37 |
-$204,341.98 |
| Stainthorpe, Mark Allen |
5 – Senior Officer of Issuer |
51 – Exercise of options |
01-15-25 |
81,000 |
$10.38 |
$840,780.00 |
| Stainthorpe, Mark Allen |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-15-25 |
-81,000 |
$44.98 |
-$3,643,380.00 |
|
| Peyto Exploration & Development Corp —–Sell Quantity: -103,000 Average cost: $17.09 Total: -$1,760,770.00 Options Issued: 105,000 Average cost: $11.85 Total: $1,244,250.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
51 – Exercise of options |
01-13-25 |
35,000 |
$9.49 |
$332,150.00 |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-13-25 |
-35,000 |
$17.20 |
-$602,000.00 |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
51 – Exercise of options |
01-14-25 |
38,300 |
$12.38 |
$474,323.00 |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-14-25 |
-38,300 |
$16.96 |
-$649,680.00 |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
51 – Exercise of options |
01-15-25 |
31,700 |
$13.81 |
$437,777.00 |
| Lachance, Jean-Paul Henri |
4 – Director of Issuer, 5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-15-25 |
-31,700 |
$17.10 |
-$542,070.00 |
| Carlson, Tavis Aaron |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-16-25 |
2,000 |
$16.49 |
$32,980.00 |
|
| Byrna Technologies, Inc —–Sell Quantity: -43,731 Average cost: $39.89 Total: -$1,744,562.19 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Eng, Victor |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-15-25 |
-43,731 |
$39.89 |
-$1,744,562.19 |
|
| Agnico Eagle Mines Limited —–Sell Quantity: -10,000 Average cost: $120.27 Total: -$1,202,730.00 |
| Insider |
Relationship |
Transaction |
Date |
Quantity |
Price |
Total |
| Girard, Dominique |
5 – Senior Officer of Issuer |
10 – Acquisition or disposition in the public market |
01-14-25 |
-10,000 |
$120.27 |
-$1,202,730.00 |
What is Insider Trading?
How Insider Trading works.
By Lisa Nathalie
January 17th, 2025
BURLINGTON, ON
Canada is home to some of the most diverse bucket-list destinations on the planet — it has some of the best ski slopes, thousands of kilometres of untouched nature, and multiple hubs of commerce and entertainment of international renown. This, coupled with its expansive tourism push in recent years, means that Canada relies on an adaptable and modern aviation industry.
Luckily for tourists and Canadians alike, the nation hosts North America’s busiest and most technologically advanced airports, perfect for handling the influx of tourism expected over the next ten years. Take a look at the top ten busiest airports in Canada.
10. Kelowna International Airport (YLW)
 Kelowna Airport – gets people into the heart of British Columbia wine regions. You can fly into Kelowna, a critical gateway to British Columbia’s Okanagan region, to explore some of Canada’s best wineries, lake regions, and the breathtaking scenery of Osoyoos. The airport serves around 2,000,000 passengers a year and offers destinations nationwide and routes all the way down to sunny Mexico.
9. Billy Bishop Toronto City Airport (YTZ)
 The Billy Bishop Airport is minutes from Toronto’s downtown core. Toronto’s second-largest airport, situated on the Toronto Islands, is named after one of Canada’s most iconic fighter pilots. This airport caters to just over 2,000,000 passengers a year and makes a great alternative to the massive Toronto Pearson International Airport, especially if you’re looking for either domestic or short-haul flights. You can expect shorter security queues and faster processing times so that you can make every minute count of your vacation or work trip.
8. Halifax Stanfield International Airport (YHZ)
Coming in at 8th place on the list is Halifax Stanfield. The airport serves the Halifax region, mainland Nova Scotia, and other areas in the Maritime provinces. As Canada’s easternmost international airport, it is a vital connection for rural communities and also provides hundreds of jobs for the region’s tourism sector. The airport generated a massive C$4.2 billion for the Nova Scotia economy in 2023 alone, and with a rise of over 20%, it’s expected to continue to grow in the coming years.
The airport is also home to numerous Fixed-Based Operators (FBOs), private companies that provide essential aviation services like fuel, parking, maintenance, and passenger amenities.
7. Winnipeg James Armstrong Richardson International Airport (YWG)
Winnipeg James Armstrong Richardson International Airport, located in the Winnipeg Capital Region, handled just over 4 million passengers last year. YWG is crucial for connecting small communities living in difficult conditions with regularly scheduled flights to Northern Manitoba, Northwestern Ontario, and Nunavut.
6. Ottawa/Macdonald–Cartier International Airport (YOW)
As the airport serving Canada’s capital city, Ottawa International is a home base for Canadian North and a major hub for Porter Airlines, which is investing $65 million into the airport infrastructure over the coming years. The airport serves the National Capital Region with over 4 million passengers annually — a 36.9% increase on the previous year, the highest such growth among Canada’s busiest airports.
The airport’s modern terminal, extended in 2008, features artwork reflecting the region’s history and culture, creating a uniquely Canadian welcome for first-time visitors to the country.
5. Edmonton International Airport (YEG)
Climbing into the top 5 busiest airports in Canada sees a marked jump in passenger numbers, with a massive 7.4 million passengers flying in and out of Edmonton International Airport. The airport caters to residents and visitors to the Edmonton Metro Region, some three hours north of Calgary.
The airport itself is so busy due to the lack of other major cities in the region, making it the only major airport for those travelling from Alberta and Saskatchewan.
4. Calgary International Airport (YYC)
Calgary International Airport, also known as “the gateway to the Rockies,” serves a whopping 18.5 million passengers a year. One reason for YYC’s huge numbers is its proximity to Banff and Canada’s impressive range of ski destinations.
YYC is home to two terminals — one domestic and one international — and serves as the main hub for Canadian airline WestJet. The airport offers world-class accessibility with modern parking systems, easy-to-use car rental services, and the reliable Calgary Transit System, which offers routes across the region.
3. Montréal–Trudeau International Airport (YUL)
Serving the Greater Montreal area, Montréal–Trudeau International Airport is a bustling hub that managed over 21 million passengers in 2023. This large operation is the region’s primary link between Canada’s French-speaking population and the rest of the world.
YUL’s strategic location makes it perfect for transatlantic flights, with popular routes to Paris, London, and Frankfurt. This dynamic location, combined with a modern general aviation terminal, makes it an ideal airport for those looking to charter a private plane to Europe and beyond. Domestic travellers also benefit from frequent flights to Toronto, Vancouver, and Halifax.
2. Vancouver International Airport (YVR)
 Some people choose to dine at the airport before their departure. Vancouver has a superb restaurant that uses an Indigenous theme at its entrance. Vancouver International Airport, nestled on Sea Island in Richmond, British Columbia, is the busiest airport in Western Canada. Welcoming almost 25 million passengers in 2023, the airport is the ultimate gateway to the region’s surrounding mountains, lakes, and the icy North Pacific. YVR is consistently ranked as one of the best airports in North America and was most recently named as the number-one airport on the continent in 2024.
Vancouver International is also the nation’s best link to Asia, with frequent flights to Tokyo, Hong Kong, and Seoul. Its location also makes it a popular stopover for flights to Australia and New Zealand.
1. Toronto Pearson International Airport (YYZ)
 Toronto’s Pearson Airport With almost double the capacity of number two on the list, Toronto has been Canada’s busiest airport for decades. It’s the primary hub for Air Canada and the second busiest arrivals hub for international travellers to North America. Serving the Greater Toronto Area, Pearson handled an impressive 44.8 million passengers in 2023, making it the pride of Canada’s already-impressive aviation industry.
Located just outside Toronto in Mississauga, Pearson offers direct flights to destinations on every continent. With its cutting-edge amenities, including world-class dining and shopping, Toronto Pearson sets the standard for Canadian airports when it comes to sheer size and availability.
Canada, Connected
With some of the most forward-thinking, accessible, and downright massive airports in North America, Canada continues to impress year-on-year with its dazzling array of airports. Vancouver continues to offer the best service in North America, Toronto Pearson connects you to the world with ease, and Calgary, Halifax, and Winnipeg airports continue to provide a vital lifeline to some of the continent’s remotest communities.
 By Pepper Parr
January 17th, 2025
BURLINGTON, ON
If you want to know just how much trouble media is in North America try this on for size.
 Jeff Bezos with his second wife Laura Sanchez The Washington Post, owned by Jeff Bezos, who owns the Amazon organization told the Post editorial staff they were not to endorse any candidate during the election.
The Post was said to be getting ready to endorse Kamala Harris.
The Post had a tag line, Democracy Dies in Darkness, that was always published under the title of the newspaper.
Continue reading Just how much trouble is North American media in?
By John Nicolic
January 17th, 2025
BURLINGTON, ON
One or more countries can take economic sanctions against another country in order for the latter state to lose certain economic opportunities. Sanctions aim to change the state’s behavior, decrease its economy, or penalize it for the occurrence of international violations. Trade restrictions, asset freezes, and restrictions on financial transactions are all sorts of sanctions.
 These measures have a variety of impacts on the target country’s economy, from reducing export dollars to raising import costs and foreign investment. A perfect example here is Russia right now. Sanctions also have a psychological effect on consumers and investors, which leads to huge capital outflow, and a devaluation of national currencies.
Sanctions and National Currencies
Often, countries under sanctions have very devalued their national currencies. This is due to several factors:
- Access to international capital markets is restricted;
- Cuts in exports because of trade bans;
- Loss of investor confidence and huge capital outflow;
- Foreign currency reserves liquidation.
The ruble lost a lot of its value after, for example, in 2014 when sanctions were imposed on Russia. A sharp drop in export revenues particularly in the form of oil and gas sales led to such a shortage of foreign exchange earnings that proved to be the main factor.
The Case of Iran
Iran has been facing sanctions for decades, which has had serious consequences for its national currency, the rial. The main effects include persistent inflation due to restrictions on imports of vital goods, a decline in the foreign exchange reserves needed to maintain the currency, and the emergence of a shadow market for currency exchange where the rial’s exchange rate differs significantly from the official rate.
In addition to that, Iran has been forced to look for alternatives to trading, and one of them was using barter transactions or cryptocurrency. This example serves global Forex trader a reminder that geopolitical factors need to be factored in before looking at currency risk.
The Venezuelan Crisis
 The economic downturn in Venezuela has been exacerbated by falling oil prices, with sanctions against Venezuela among the possible culprits. The national currency — the Bolivar — has effectively become nearly worthless and hyperinflation has gone into hyperdrive. The loss of oil revenues as the primary foreign exchange source made it impossible to raise capital abroad, and the loss of trust in the economic system by the domestic and foreign public (citizens and the international community) had been key causes.
In this case, we see the negative impact of reliance on a single export commodity that renders an economy vulnerable to sanctions and global shocks. What is more, such crises show how quickly macroeconomic problems can grow into the total collapse of the economy.
Impact of sanctions on Venezuela:
| Factor |
Consequences |
| Loss of oil revenues |
Decrease in foreign exchange reserves |
| Restrictions on financial transactions |
Inability to attract foreign capital |
| Loss of confidence in the economic system |
Hyperinflation and devaluation of the bolivar |
The example of Venezuela for global traders demonstrates why it is never a bad idea to diversify and remember geopolitical factors when thinking about currency risk. This is precisely the situation in which you should pay to have your investments handled by brokers such as the xChief. A proven forex broker will reduce the impact of these factors on your investment, plus supply you with quality analytics.
Ripple Effects on Global Markets
Sanctions hit their targets as well as the global markets. The main consequence is an increase in the price of commodities such as oil and gas because of less supplies. Increased volatility in currency markets means both threat and opportunity for traders: The sanctions strengthen alternate currency usage such as the Chinese yuan or cryptocurrencies as a means to avoid sanctions restrictions. The situation is that reduced world economic growth results from falling international trade. As a result, often sanctions completely upset the global currency landscape, launch new financial alliances, and intensify the need for portfolio diversification on the investor’s side.
Lessons for Traders
Sanctions need to be considered in any trader’s strategy. Key lessons include:
- Check on the news imposing or tightening sanctions that may have an impact on currencies and stock prices;
- Analyze the long-term effects on a currency due to sanctions, including a dependency on the export of a limited commodity;
- Of course, diversify the portfolio to mitigate the exposure to geopolitical risks;
- To minimize the losses that occur during volatility, use risk management tools like stop losses and limit orders.
The currencies of countries not covered by sanctions can be also thought of as attractive to investors in conditions of geopolitical instability. For example, you might think the US dollar, or the Swiss franc, is a safe haven.
Conclusion
Exchange rates and global economic stability are influenced by economic sanctions. However, analyzing their impact allows the traders to understand better currency market dynamics and minimize risk. Past cases provide lessons that for success in foreign exchange markets you need to be flexible, driven, and able to adapt to changing geopolitical circumstances.
 By Pepper Parr
January 7, 2025
BURLINGTON, ON
With some research in hand, we can now report what tax increases for Burlington residents look like.
 The percentages show the increase in total tax revenue as shown in each year’s approved budget. Using the year-over-year tax increase, the cumulative numbers comes in at an astounding 65.10%
Continue reading Cumulative tax increases delivered by the current council in the last six years amounts to 65.10%
 By Pepper Parr
November 25th, 2024
BURLINGTON, ON
Eric Stern, the spokesperson for BRAG (Burlington Residents Action Group, delegated to City Council this morning.
In most cases, not all, Council has very little to say in response to a delegation – this morning – it was different.
After saying: Good morning and thank you for your time today, Stern levelled a couple of concerns:
I have to say I was surprised to see Burlington get out early again this year with the fictional “4.97%” overall tax increase.
It was interesting to watch Mr. Basit present a 4.97% on November 4th when the Halton Police budget had been made public on October 30th. Did Mr. Basit knowingly misrepresent the truth?
On November 18th I listened to Leah Bortolotti talk about 6.7 million people visiting the website annually. I did another double-take. For a dose of reality, only 200,000 people live in Burlington. Are we expected to believe that every person in Burlington visits the website an average of 33 times a year? How many of these visits are to book the kids into a swim class? More confusing is that the budget document states on page 48 “our website—with its 1.5 million annual users”.
When he had completed his delegation there were questions and some animated responses:
 Councillor Nisan: We have a transit master plan that is currently inactive. Do you not want that transit plan? Or what’s the story? Councilor Nissan: Your last item in your, we’ll call it a report, or your submission, said that the transit master plan should be released before taxes are increased in relation to transit. We have a transit master plan that is currently inactive. Do you not want that transit plan? Or what’s the story?
Stern: Well, if you’re going to change it, which we would expect with a new master plan, then shouldn’t the budget, wait for the Master Plan, or shouldn’t the master plan be released before the budget? It’s not a necessity to have a budget in place until February 1. We have the flood plan coming out, what later today, and the transit master plan coming out in a few weeks. So you put the car before the horse?
Nisan: I’ll just clarify my question. So our transit master plan goes until 2025 this is the last year of that master plan. Are you suggesting that we finish a new master plan before we approve the budget for what we already approved in the last master plan?
Stern: That is the suggestion that you get the master plan out first and then do the budgeting around it. Y
Councilor Sherman: I want to thank you for your delegation, but also particularly for the correspondence with all the analysis that you and you have done, or I guess a few of you have done, yes, it was very thorough. It had a lot of good analysis in there.
Would you be interested in having some response from the city with respect to the analysis you did?
That offer is close to a first for this Council – a citizen asks for something and gets a positive response.
Stern: Yes, we’re interested. This is an ongoing process, so we’ll just raise the same issues again next year. If the city wants to provide clarity or an explanation, then maybe we won’t have to raise them, or maybe we’ll see it differently than you do.
Sharman: I will ask staff about that later, and I’m sure we’ll get you the answers.
Later in the meeting when questions are put to staff Sharman asked the Chief Financial Officer:
With respect to getting back to the to residents and their feedback – there are a lot of questions in there. Could you just confirm that you will respond to each question in line so that they have an answer to this community group for each of those questions.
So will you be able to do that for this, for the for this input, in particular through
Craig Millar: Through you to the Chair: Yes, that’s that’s our intent, to go through each one of the questions and provide answers.
Chair Bentivegna: We have a question from Councilor Kerns. So looking at this item that’s been provided in your correspondence, which is the list of the of the items that you’d like additional investigation on, and recognizing that this is, in fact, the mayor’s budget. What engagement have you had with the mayor’s office related to these items as they relate to the budget?
 There wasn’t really any time in this whole process to do a really deep dive into the data. Stern: Well, there wasn’t really any time in this whole process, because the budget action reviews were submitted two weeks after the budget was released. It takes a group of us to split it up to roughly 80 pages each. We went and identified things we could xxx
Kearns: You reviewed the budget action items you endorsed, I believe is the correct word, the budget.
Stern: No we haven’t. There’s just no time in this process for residents to meaningfully engage. And I’m really emphasizing the word meaningfully.
Kearns: A follow-up question. What you would like to see then? A draft budget released first, so we don’t have to challenge the clock of the statutory time to turn this around, which is more detailed, in order for people to have more meaningful engagement.
Stern: That’s right, that’s identical I’d like to see what Oakville does happen in Burlington?
Kearns: My second question is this, in the correspondence that you’ve provided, it doesn’t necessarily equate to $1 value in the final column on every single item, is the concern more with accountability, transparency and return on investment and alignment with business plans? Or is it pure hard savings or both?
Stern: The concern largely is with accountability, certainly. Speaking for myself, not for the group. I’ve said this before – the only reason I’m here is because 4.97 is meaningless. 4.99 last year was meaningless. It was 6.58 I think, at the end of the day in 2024 on our tax bills. So you guys come out with this obviously skewed lower number for your own benefit, and then we’re somehow supposed to engage, and then we get a dog and pony show with what a 10-page booklet with no details.
You know, transit is going to cost pulling numbers out of my hat, but it is going to cost $17 million do you agree? How are we supposed to engage with that?
 Eric Stern: It’s all about clarity, honesty, fairness. It’s all about clarity, honesty, fairness. We’re all adults. Nobody’s jumping up and down and screaming that everybody has to be fired at City Hall and things like that. We recognize that Burlington has great services, but we want to understand what’s happening with our money, and it’s becoming a lot of money over the years, right? $500 million.
Kearns: Thank you, Eric. Maybe our themes next year will be clarity, transparency and honesty.
Mayor Meed Ward did not attend the Council meeting – she attended the Premier’s event at Joseph Brant Hospital – where she didn’t get to say a word. Had she been at Council Stern may not have gotten away with some of his comments.
The Complete Stern Delegation
“Stop the 7.5% Burlington Property Tax Increase” petition has been presented to council. Twelve hundred and forty-seven people signed the petition asking for a zero percent tax increase. The multi-year forecast called for 8.9%, by asking for zero we were hoping to meet somewhere in the middle, at 4.4%, oh well.
I have to say I was surprised to see Burlington get out early again this year with the fictional “4.97%” overall tax increase.
It was interesting to watch Mr. Basit present a 4.97% on November 4th when the Halton Police budget had been made public on October 30th. Did Mr. Basit knowingly misrepresent the truth?
On November 18th I listened to Leah Bortolotti talk about 6.7 million people visiting the website annually. I did another double-take. For a dose of reality, only 200,000 people live in Burlington. Are we expected to believe that every person in Burlington visits the website an average of 33 times a year? How many of these visits are to book the kids into a swim class? More confusing is that the budget document states on page 48 “our website—with its 1.5 million annual users”.
You have approved $148,000 for an SEO Marketing position. What is the payback?
Will there be a staff reduction in Service Burlington because people can find information themselves? Will there be KPIs to monitor this or is this just another overhead cost?
What residents need is information, not marketing spin, Google can make that information searchable. Adding a web marketing SEO position will slow down the posting of information making that information less accessible to taxpayers. Do you remember the taxpayers? The people who pay for this.
The mayor talks about training bus drivers and then those drivers take jobs in other cities as a justification for higher pay. This statement is not supported by the 5.3% turnover number presented on November 4th. A rate of 5.3% is lower than any private sector group except for heads of organizations and executives at 3.8%. This indicates the city has the right mix of salary, benefits and working conditions. An average, across-the-board, salary increase of 4.58% when inflation is 2.5% sounds high.
My theme today is clarity. Residents deserve factual information, clearly presented on the city’s website, by staff and the council, without the deft hand of a communications department spinning that information for the benefit of our elected representatives and city staff. I resent being taxed to pay for information to be marketed to me.
 Eric Stern wants a draft budget well ahead of Mayor’s budget so the community has an opportunity to comment. BRAG earned the right to that kind of document next year. Looking ahead to 2026, what considerations are being made for a conservative Federal government and severe cuts to the housing accelerator fund? Much of the expected $21,000,000 may evaporate.
In terms of provincial funding, what happens if the city does not meet its housing targets and no provincial funds are available?
Burlington is building out community centers, transit, etc. for people who may or may not move into the community. What happens if the builders don’t build and the people don’t materialize? Is it time for more prudent cost controls?
The Burlington Residents’ Action Group submitted to this council, in writing, 14 pages of possible cost savings and economies of scale that the city could consider.
I’ve watched many council meetings, people who ask for money often receive money, and people who ask for cuts often receive nothing.
Why are lower tax increases important?
Lower increases leave people with more money for heat pumps and EVs.
Lower increases reduce renovictions by landlords who, through rent control, can only increase rents by 2.5%. This will reduce homelessness and help to “solve the crisis”.
Lower increases leave more money in people’s pockets, reducing food bank visits and crime, and lower the overall cost of policing.
I’ll conclude with, Your Worship, you win, for now, you hold all the cards, residents are not given enough time to review the budget, the budget does not include explanations for the programs, or what the return on the “investment” will be, and requests for details go unanswered.
Congratulations on passing another huge budget increase without the community understanding what the percentage is or what the dollars are for!
By Pepper Parr
November 19th, 2024
BURLINGTON, ON
Council spent all of yesterday deciding what could be cut from the budget and what couldn’t be cut. The 22 item list of possible cuts didn’t fare all that well. They kept the big items, including money for a park in Councillor Sharman’s ward.
The budget at the end of the meeting is set out below:
The seven members of Burlington City Council will take part in a Regional Council meeting on Wednesday where they will decide on how much money the Region needs to get through the next fiscal year. The Police Services Board has asked for an increase of 13% which is going to work its way to the Burlington budget.
Council will meet on the 25th – which is when you get to hear the good news.
Later today we will report on how council worked its way through the proposed amendments. They didn’t save a dime. They came close to changing some of the leaf removal program. THAT would have saved $250,000 had it passed.
 By Staff
October 29th, 2024
BURLINGTON, ON
Their first really sold kick at the 2025 budget is concise and direct. BRAG – Burlington Residents’ Action Committee picks it’s way through the 2025 Budget showing a significant number of errors in mathematics.
 BRAG member Eric Stern and the rest of the team are going over the budget with a fine tooth comb – lots of cooties. BRAG Budget Summary
Highlights:
Page 17 shows that the “Net City Tax Levy” is increasing by 8.3%.
Page 27 shows that Burlington’s portion of our tax bill is increasing by 7.5%.
Why is spending increasing 8.3% and property taxes 7.5%? We believe the difference is being made up for by property tax revenue from the new homes and condos that will start paying taxes in 2025. So far, we have not been able to find an explanation for this difference in the budget document.
The number of new full-time employees the city will be hiring in 2025 is 29, a 2.5% increase in full-time head count.
The average salary increase, for existing full-time employees, 2024 to 2025, appears to be 5%. The Bank of Canada is expecting inflation to be in the 2% range in 2025.[I] We’ll have to wait for the Sunshine list to be published in 2025 to see what the raises were like following 2024’s 10.21% budget increase.
Pages 9 and 10
These pages show selected results from the online survey conducted by the city.
This quote is from the survey: “As we plan this year’s budget, we’re facing inflation, much like our residents and local businesses. Our 2025 forecast predicts a total tax increase of 5.5%, with 1% for Halton Region services, 4.5% for Burlington services, and no change for education.”
Would the results have been different if the city had clearly stated a budget increase of 8.3%?
Page 21
Some of the calculations on this page have errors.
Looking at the first box on the right, the numbers shown add up to 142,457 not 140,514,298. Residents should not have to make assumptions about the numbers in the budget but, if we assume the city meant 140,514, meaning they simply forgot to convert the number to thousands, there is still a difference of $1,943,000 when dealing with the actual numbers ($142,457,000 – $140,514,298).
Looking at the middle box on the right. The numbers add up to 37,695, not the 37,191,580 shown. If we again assume the number should be in thousands at 37,191, the difference is still $504,000 (in real terms).
The bottom box is in the other benefits and allowances section. The numbers add up to 1,325. At least the difference, after making assumptions, is only about $7,000.
 When you add up the numbers, from the city, in the total budget column the total comes to $179,023,828 not the $181,476,000 shown in the chart. The incorrectly stated numbers in the city’s chart do not add up to the total shown in the city’s chart.
Page 24
Reserve and Reserve Funds
This chart shows the total, uncommitted, and committed reserve funds by year. Read BRAG’s comment in the blue box. Based on the information in this graph it is impossible to tell how much money is in the reserve funds.
Page 25
Reserve and Reserve Funds Continued. The committed value shown on the chart above, from page 24, for 2025 does not match the committed balance we calculate using the information provided on page 25. We took the amount in the balance column and subtracted the amount in the uncommitted balance column to calculate the committed balance. You can see the committed balances in the blue boxes.
The total committed balances on this page are $104,951,043 not the $167,000,000 shown in the chart on page 24.
What are we left with? We are left with questions.
1 – Are these errors acceptable and what other errors are in the document?
2 – Does this call into question the integrity of the entire document?
3 – This is the first detailed budget document the public has been allowed to see, based on the quality of this document public input is essential.Why were the mayor’s engagement sessions held before a draft version of the budget was released?
4 – Do residents have to cross-check every column and every total in the budget document?4 –
Under strong mayor powers this is the mayor’s budget – is she responsible and accountable?
Will bonus payments be withheld from those who signed off on this document?
You might want to consider becoming a supporting member of BRAG – they have served taxpayers well.
[i] Bank of Canada Inflation forecast – https://www.bankofcanada.ca/publications/mpr/mpr-2024-10-23/
 By Pepper Parr
October 21st, 2024
BURLINGTON, ON
That long-awaited first version of the Mayor’s 2025 budget will be available on Friday, the 25th.
The document goes to a Council meeting on November 4th – which gives the public nine days to go over the document and get some sense as to what they might be facing in terms of a tax increase. It is reported to be at a pinch over 8%.
Last time we saw a budget with a significant increase 15% there were four very strong delegations – didn’t seem to make any difference. Two of the delegations heard Council say they would reach out and talk to them about some of the points made in their delegation. Both have reported that they haven’t heard a word.
This time around – it might be different.
 BRAG – Burlington Residents’ Action Group has a team of people in place who have divided up their understanding of the different sections the budget will be broken into – their task is to do the deepest dive possible into the data and be in a position to delegate with data from the document.
The public has been told that the budget document will not be a 700 + pages and that the format will be quite different. The Gazette will report on what is delivered on Friday.
Burlington has never seen anything like this in the 12 years I have been covering this Council.
Members of the BRAG the incorporated not for profit group are of the view that the numbers in the budget are “baked in” – “there won’t be much oportunity to change anything – but we are still going to do our job.”
Others in the community have given up – one “doesn’t believe this Council is going to get even close to changing until it occurs to them that they may not get re-elected – and then they will scurry about like rats leaving a sinking ship looking for some high and dry space.”
There is a protocol in place that Council will be following in order to have the budget discussions completed and a bylaw in place before the end of the year.Oct. 25
Mayor’s Proposed Budget Report will be shared with the community and posted at GetInvolvedBurlington.ca/2025budget and on the Nov. 4 Committee of the Whole agenda
 Marianne Meed Ward before she was elected Mayor Nov. 4 – Burlington Committee of the Whole
The Mayor, under Strong Mayors legislation, will present the 2025 proposed budget to Burlington City Council. City Council and the public will be given time to review the proposed budget and give the Mayor feedback. Delegates welcome. Register by noon the previous business day.
Nov. 7 – Budget Telephone Town Hall
Residents can join the call starting at 7 p.m. to ask questions about the 2025 proposed budget. The telephone town hall will be hosted by Mayor Meed Ward and run until 8:30 p.m. Visit Get Involved Burlington for details.
Nov. 18 and 21 – Budget Committee meetings
City Council amendments to the budget. Delegates welcome. Register by noon the previous business day.
Nov. 25 – Special Council Meeting
This meeting is for budget approval.
There is at least one member of Council who is not prepared to go along with what the Mayor is proposing. On Friday we will have a clearer idea on what she has in mind.
By Pepper Parr
October 4th, 2024
BURLINGTON, ON
 The City’s Chief Administrative Officer had said that data on just what happened during the July flood and what the costs for flood mitigation going forward might be would be presented to Council during the October cycle – that has been moved to November We learned yesterday that the reports on how the July Flooding were going to impact the 2025 budget, expected in October, will not get to Council until the November cycle of Committee of the Whole meetings.
In November the Flood Hazard Impacts and Mitigation Assessment and the July 15th storm event and response update will be presented.
This is going to take place at around the same time the Mayor will release a proposed Budget to City Council.
It is very hard to fully understand how the Mayor is going to table a report that doesn’t have all the data that is relevant.
For the past three weeks the Mayor has been meeting with citizens in each ward looking for feedback on the budget knowing that critical data is not available.
 We know that the on November 4, Mayor Meed Ward will release her proposed Budget to Burlington City Council.
On November 7, 2024 – Telephone Budget Town Hall hosted by Mayor Meed Ward – it will run from 7:00- 8:30 p.m.
Members of Council have until November 11, to propose amendments to Proposed Budget
November 18 & 21, Committee of the Whole will review of Proposed Budget amendments proposed via Motion Memorandum process
 Attendance at Mayor’s firs budget meeting was sparse – information was non existent. November 25, Council will review the Proposed Budget and at that time decide on what the tax increase for 2025 will amount to.
It is a very tight schedule that was put in place by the province when Strong Mayor powers were declared by the province.
The most essential part of the budget creation process is public engagement – with all the data being used available. This looks like another one of those situations where the city is determined to be able to say that the public was engaged, while knowing that the public did not have all the facts.
By Staff
September 18th, 202
BURLINGTON, ON
Eric Stern, president of BRAG – Burlington Residents’ Action Group, wrote about just where the draft version of the 2025 budget is;
Here is what he had to say:
The getinvolved site has a check mark next to the release of the draft summary budget.
You can see the check mark here
https://www.getinvolvedburlington.ca/2025budget
Does anyone know where the draft summary budget is?
When I asked COBY “Where is the 2025 draft summary budget”?
I got this response
“The 2025 draft summary budget for the City of Burlington can be found on the official Burlington website under the Budget section. You can access it by visiting the following link: 2025 City of Burlington Draft Summary Budget.”
The link takes me to the 2024 approved budget
“https://www.burlington.ca/en/council-and-city-administration/resources/Budget-and-Finances/Approved-Budget-Book/2024/2024-Approved-Budget-Book-00-Complete.pdf”
When you click on that url here is what you get:
This is becoming a bit of a joke – except that the budget the Mayor puts forward is not going to be a joke.
 By Ray Rivers
April 18th, 2024
BURLINGTON, ON
Pouring over the 400 page federal 2024 budget document, one can’t help but be impressed with the breadth and scope of federal involvement in almost every facet of the lives of Canadians. It is a lot of money that gets spent by your federal government each year. This year that list of expenses is even longer thanks to the NDP demanding their pound of flesh for propping up the Liberal government.
 The photo op reminds one of two students turning in their homework. Prime Minister Justin Trudeau and Finance Minister Freeland The federal government has been forced to use the power of the purse to buy its way into areas which were once exclusively provincial. That is because the premiers of provinces like Alberta, Saskatchewan and Ontario are not meeting the needs and wants of their electorate. And the public doesn’t know, or even care, which government is responsible, but blame the feds if they don’t get what they want and need.”
So the feds have found their way into having to develop their own health care, dental care, pharmacare, education and child care programs. Provincial governments are involved in some of these but none of these new initiatives would be happening without federal leadership or funding. And now there is a billion dollar school food program, filling a void left open by most provinces and some parents.
 The federal government was late in getting to the point where they would play a direct role in getting housing built. The provinces left them no other option. Housing has taken a front seat in this budget as the feds have plunged headlong into dealing directly with municipalities to meet the hugely unmet demand for accommodation spaces across the country. The provinces may resent the federal intrusion into their back yard, but Canadians feel it is a federal responsibility. So it’s in the budget. Of course, cutting the bank rate, which is driving up mortgages across the country, and limiting immigration would also help solve the housing crisis.
Justin Trudeau came to power, unlike his political opponents, arguing for even more deficit financing to grow the economy. And it’s been a spotty growth record, marred by the pandemic and the acute inflationary supply shortages immediately following. Still, Canada posted one of the highest growth rates over the past couple years among the G7, though not on a per capita basis thanks to the flood of new immigration we’ve seen.
Economists these days prefer to talk about debt as a percentage of the GDP. Still, when the cost of financing the debt is more costly than what the government contributes to health care, that is troubling. Canada’s debt to GDP ratio, which is about half of that of our southern neighbours, had been slowly declining until Covid came knocking at our door. The budget predicts that ratio will get back to where it left off and continue its downward trajectory.
That will be helped by the big news in this budget that taxes are finally going up for those who can most afford them. There are about 40,000 Canadians who earn over $250,000 in capital gains and only pay income tax on half of that. The capital gains tax for those folks is rising from 50% to 67%. That is still well below the 75% rate once imposed by former PM Mulroney.
 A younger Justin Trudeau made it clear from the beginning – he was going to work for the middle class – more votes in that demographic. And why would capital gains be treated any differently from employment income – why shouldn’t it be taxed at 100% like other earned income? Capital gains, much like an inheritance or casino winnings are windfalls but they are spent and saved just like earned income. Why do we treat them as a free lunch?
Income tax rates have not been touched in this or other recent budgets. One of the first acts of the Trudeau administration was to cut taxes for the middle class, which the PM claims helped lift more than one million Canadians out of poverty. And to pay for that he created a new top federal income tax bracket of thirty three percent.
But Canada, with its publicly financed health care is still a relative tax bargain for its citizens. We still have the lowest marginal tax rate in the G7. For example, the richest Americans are taxed at 37%. Also, Canada’s corporate income tax rate is the 4th lowest in the G7 at 26.2%. And taxation of new business investment at 13%, compared to the USA at 17.8%, is the lowest in the G7.
Unquestionably this is a progressive budget and those who don’t believe in government playing a bigger support role in our lives will disapprove. Still we know from our experience with the Canada Health Act that universal publicly funding universal programs are less costly to society overall. It’s a known fact that Canadians pay something like half what Americans do for a health care system with better outcomes, despite some access issues.
So those naysayers are on the wrong side of history. As we are forced into the age of fighting to save the planet from the potential ravages of climate change we need to get used to governments playing an even bigger role. But we need to pay for what we are demanding. And making the wealthiest Canadians pay a fairer share by raising the inclusion rate on capital gains is just a start.
 Ray Rivers, a Gazette Contributing Editor, writes regularly applying his more than 25 years as a federal bureaucrat to his thinking. Rivers was once a candidate for provincial office in Burlington. He was the founder of the Burlington citizen committee on sustainability at a time when climate warming was a hotly debated subject. Ray has a post graduate degree in economics that he earned at the University of Ottawa. Tweet @rayzrivers
Background links:
Budget – Debt – Highlights – More Canada – Not Less –
By Eric Stern
April 19th, 2024
BURLINGTON, ON
On April 16th the federal government introduced its eighth budget. Using the term “fiscal guardrails” to describe their approach to deficit spending the Liberals plan to add another $39.8 billion to the national debt.
We have wonderful social programs and it is amazing to see this government adding to them. Canada is the only country in the world with healthcare coverage but no prescription medication coverage for people under 65 (outside of hospitals). The budget takes a tentative first step towards correcting this.
The problem with adding new social programs is that we need a fair way, for every generation, to pay for these programs.
Debt and Deficit
 Federal debt The federal debt load, the sum of all unpaid government deficits, is now around $1.2 trillion. These numbers are so big they become meaningless. Dividing $1.2 trillion by the population of the country, 40 million, we get something more meaningful. The federal government has borrowed, on behalf of each person in Canada, about $30,000. Using the same line of calculation and a population of 16 million, the Ontario government has borrowed, on behalf of each person in Ontario, about $26,850.
Adding the two totals together, a baby born today, in Ontario, owes $56,850. Is this fair to the newborn generation?
Another way to look at this problem is to compare healthcare dollars with the interest payments on the $1.2 trillion debt. The federal government will transfer, to the provinces, $49 billion for healthcare and will pay $54 billion in interest payments on the debt. If the current government, and previous governments, had actually had any fiscal guardrails, far more money would be going to healthcare, something the current generation of seniors might see as fair.
Trudeau has added more money to the total debt than all previous prime ministers combined going back to 1867. This burden will be transferred to future generations, once again calling into question the statement “Fairness for every generation”.
 The federal government has added 100,000 employees to the payroll. In 2015 there were 257,034 employees, in 2023 there were 357,247 employees. Healthcare is a provincial responsibility; the growth didn’t take place in healthcare. In spite of Trudeau promising, in 2015, to reduce the use of consultants, consulting fees have increased 60% (2015 to 2023).
The Liberals have failed to make the civil service more productive either through the use of technology or other means, and have failed to control the size of the civil service. Arrivecan is just one example. With such massive growth in both public sector employment, and in the use of consultants, there must be opportunities to reduce government spending to pay for new social programs offering true fairness for every generation.
Tax the Wealthy
In 1990 there were twelve countries in Europe with a wealth tax, today there are three. In France, between 2000 and 2012, an estimated 42,000 millionaires left the country. Over time, as wealthy people leave, tax revenues decline. France repealed their wealth tax in 2018.
While the Liberals play checkers, Canada’s millionaires and billionaires have accountants and lawyers who play chess. Can a billionaire move to the Caymen Islands, a tax haven, and fly their private jet to Toronto for meetings? Why not, Trudeau hops in a plane with less thought than the rest of put into taking an Uber.
The Fraser Institute, a conservative think tank estimates that the top 20% of Canadian income earners pay more than half of total taxes. Statements like “the wealthy must pay their fair share” may already be true. Link to the report HERE.
The 2024 Forbes list of billionaires shows there are 67 billionaires in Canada with a combined wealth of $314 billion. This is a very small number of people, I bet all 67 can fit in the Prime Minister’s jet. A tax system that encourages and allows more people to become billionaires will generate more tax revenue for all Canadians.
The change in the capital gains inclusion rate will cause real and long-term damage to our economy. Tobi Lutke, one of our billionaires and a cofounder of Shopify, posted this on “X” immediately after the budget was released. “Canada has heard rumours about innovation and is determined to leave no stone unturned in deterring it”.
 Tech companies, in particular, need venture capital funding to grow. The changes in capital gains taxation will deter venture capitalists from investing in Canada. In the US, the tax rate on capital gains is a flat 21%. We are simply not competitive. Small and medium sized businesses, in every sector, now have one more difficulty to overcome when trying to attract capital to grow. How many Canadian venture capital firms will relocate to the US and simply stop investing in Canada?
Housing Costs
Someone in the federal Liberal government fell asleep at the switch, the result is that Canada’s rate of immigration is unsustainable. Immigration is wonderful but schools, healthcare, roads, and housing need to keep up.
 Oval Court: A high rise development planned for Burlington The budget completely ignores the fact that the Liberal government created the housing shortage.
Now that the opinion polls have forced the government to wake up the Liberals really have no choice but to spend tax dollars, collected from all Canadians, to create more housing. Burlington has already received $21 million in federal housing funding and the money has gone into processes, not physical housing. I really hope this new round of federal money goes into homes instead of more photo ops to boost the Liberal party’s sagging popularity.
Is this article almost finished?
Almost.
There are many budget details still to be released. The government expects to raise $6 billion with a new digital services tax. Will this be just another tax along the lines of charging HST on top of the carbon tax? We’ll have to wait and find out.
The Liberal government has forgotten that Canada needs a vibrant and growing private sector that can be taxed, fairly, to pay for our social programs. Companies in Canada need to compete against companies around the world, employee housing costs, personal tax rates, and corporate tax rates are major factors in this competition.
Inflation is a problem for everyone, the Bank of Canada has asked all levels of government to reign in their deficit spending so that interest rates can come down. Borrowing $40 billion just pours gasoline on the inflation fire. Here’s a new slogan: Budget 2024: Un-Fairness for every generation.
I sometimes wonder if Trudeau understands the difference between a million, a billion, or a trazillion.
 Eric Stern is a Burlington resident, a retired businessman in the private sector and said to handle a pool stick better than most of the people he plays with.
By Pepper Parr
December 16th, 2023
BURLINGTON, ON
On July 1st of this year the province gave many Mayors the right to use what were called Strong Mayor powers.
A Mayor does not have to use these powers, which are pretty blunt. To date Mayor Meed Ward has used the powers on 13 occasions. Numbers 4 to 8 are set out below. Numbers 1 to 3 were published earlier – a link to them is set out below. Four, five and six have the Mayor passing the bylaws – this is what a City Council does, with Strong Mayor powers a Mayor can declare a bylaw is passed – the one proviso is that the Mayor must inform the public in writing.
The two decisions that raise concerns are seven and eight. They turn the Standing Committee structure the city had on its head.
For those involved in what takes place at city hall – pay attention.
Decision # 4
 No one saw this coming. What was a victory signal the night Marianne Meed Ward was elected Mayor morphed into something few expected. Mayoral decision
Under Bill 3, the Strong Mayors, Building Homes Act, 2022, which amended the Municipal Act, 2001, I Marianne Meed Ward, Mayor of the City of Burlington, hereby approve the following by-laws passed at the Burlington City Council meeting of September 26, 2023 in accordance with subsection 284.11(4)(a)(i) of the Municipal Act, 2001:
• All by-laws enacted under Motion to Approve By-laws (Council Agenda item 21)
• Confirmation By-law (Council Agenda Item 22)
Dated at Burlington, this 26th day of September 2023.
Decision # 5
Mayoral decision
Under Bill 3, the Strong Mayors, Building Homes Act, 2022, which amended the Municipal Act, 2001,
I Marianne Meed Ward, Mayor of the City of Burlington, hereby approve the following by-laws passed at the Burlington City Council meeting of October 5, 2023 in accordance
with subsection 284.11(4)(a)(i) of the Municipal Act, 2001:
• All by-laws enacted under Motion to Approve By-laws (NA)
• Confirmation By-law (Council Agenda Item #9)
Dated at Burlington, this 5th day of October 2023.
Decision # 6
Mayoral decision
Under Bill 3, the Strong Mayors, Building Homes Act, 2022, which amended the Municipal Act, 2001,
I Marianne Meed Ward, Mayor of the City of Burlington, hereby approve the following by-laws passed at the Burlington City Council meeting of October 17, 2023 in
accordance with subsection 284.11(4)(a)(i) of the Municipal Act, 2001:
• All by-laws enacted under Motion to Approve By-laws (Council Agenda item #21)
• Confirmation By-law (Council Agenda Item #22)
Dated at Burlington, this 17th day of October 2023.
Decision # 7
Mayoral decision
Under Bill 3, the Strong Mayors, Building Homes Act, 2022, which amended the Municipal Act, 2001,
Effective January 1, 2024, in accordance with subsection 226.6 of the Act, I Marianne Meed Ward, Mayor of the City of Burlington, hereby dissolve the following standing
committees as prescribed in the City’s Procedure By-law no. 31 -2021, as amended:
• Committee of the Whole
• Community Planning , Regulation & Mobility Committee
• Environment, Infrastructure & Community Services Committee
• Corporate Services, Strategy, Risk & Accountability Committee; and
Effective January 1, 2024, in accordance with subsection 226.6 of the Act, I Marianne Meed Ward, Mayor of the City of Burlington, hereby establish a Committee of the Whole
and Budget Committee with functions assigned as follows:
Committee of the Whole
I. Responsibilities
The Committee of the Whole shall be responsible for considering all matters that do not properly fall under the jurisdiction of any other existing Standing
Committees. The Committee of the Whole agendas are divided into the following sections, with a Chair and Vice Chair assigned to each section:
Community Planning, Regulation & Mobility
The Community Planning, Regulation & Mobility section will include matters relating to:
a) Matters under the jurisdiction of Community Planning, Regulation and Mobility including; Community Planning, Building, By-law Compliance, Transit, and Transportation departments;
b) Public hearings pursuant to the Planning Act, RSO 1990, c. P.13, as amended;
c) Matters arising from the following boards and advisory committees:
Aldershot BIA
Burlington Chamber of Commerce
Burlington Downtown Business Association
Burlington Economic Development Corporation (BEDC)
Committee of Adjustment
Heritage Burlington Advisory Committee
Integrated Transportation Advisory Committee (ITAC)
Burlington Cycling Advisory Committee
Burlington Agricultural and Rural Affairs Advisory Committee (BARAAC)
Downtown Parking Advisory Committee
Property Standards Committee
Environment, Infrastructure & Community Services
The Environment, Infrastructure & Community Services section will include matters relating to:
a) Matters under the jurisdiction of the Environment, Infrastructure and
Community Services including; Engineering Services, Recreation,
Community and Culture, Roads, Parks & Forestry, and Fire, Assets and
Sustainability departments;
b) Matters arising from the following boards, committees and advisory committees:
Burlington Accessibility Advisory Committee (BMC)
Burlington Sustainable Development Committee (SOC)
Art Gallery of Burlington Board (AGB)
Burlington Mundialization Committee
Burlington Museums Board
Burlington Performing Arts Centre
Burlington Public Library Board (BPL)
Burlington Seniors’ Advisory Committee {BSAC)
Tourism Burlington
Corporate Services, Strategy, Risk & Accountability
The Corporate Services, Strategy, Risk & Accountability section will include matters relating to:
a) Matters under the jurisdiction of the City Manager’s Office, Office of the City Clerk, Corporate Communications and Engagement, Strategy, Risk
and Accountability, Customer Experience, Finance, Human Resources, Burlington Digital Services, and Corporate Legal Services departments;
b) All public meetings under the Development Charges Act, 1997, S.O. 1997, c. 27;
c) Burlington Strategic Plan and Vision to Focus workplan;
d) Matters arising from the following board and advisory committee:
Burlington Hydro Electric Inc. (SHEi)
Burlington lnclusivity Advisory Committee (BIAC)
II. Composition
The Committee of the Whole shall be comprised of all members of Council.
Ill. Reporting
The Committee of the Whole reports directly to Council.
Budget Committee
I. Responsibilities
The Budget Committee is responsible for hearing public presentations, receiving financial reports from staff, and providing advice to the Mayor on the operating
and capital budgets; and making recommendations to Council on any operating or capital budgets in which the Mayor has a pecuniary interest.
II. Composition
The Budget Committee shall be comprised of all members of Council.
Ill. Reporting
The Budget Committee reports directly to Council.
Dated at Burlington, this 31st day of October 2023.
Decision # 8
Mayoral decision
References: MO-03-22 – Appointments to standing committees, boards , committees, agencies and Deputy Mayors , December 13, 2022 *with changes CL-18-23 – Standing Committee Structure Options, October 17, 2023 Mayoral Decision 07-23 – To establish a Committee of the Whole and Budget Committee
Under Bill 3, the Strong Mayors, Building Homes Act, 2022, which amended the Municipal Act, 2001 (the Act); and Effective January 1, 2024, in accordance with subsection 226.6 of the Act, I Marianne Meed Ward, Mayor of the City of Burlington, hereby appoint the following Councillors as rotating chairs of Committee of the Whole and Budget Committee for remainder of the 2022-2026 Term of Council as established by report MO-03-22: ** Chair changes are bolded, they align the Deputy Mayor of Strategy and Budgets portfolio to the Chair of Budget, with subsequent position changes to ensure equity.
 What were Standing Committee chairs are now “section” chairs. Committee of the Whole
The Mayor shall preside as the Chair for Committee of the Whole for all agenda sections, with rotating Councillors appointed as section chairs and section vice chairs for
Community Planning, Regulation & Mobility Environment, Infrastructure & Community Services and Corporate Services, Strategy , Risk & Accountability regular items.
Committee of the Whole – Community Planning Regulation & Mobility
Committee of the Whole – Corporate Services Strategy Risk & Accountability Regular Agenda
Budget Committee
Dated at Burlington, this 31st day of October 2023.
 Mayor Meed Ward has decided she is going to do it all. Relayed news story:
First three Strong Mayor decisions
By Pepper Parr
December 7th,2023
BURLINGTON, ON
During the budget debates City Manager Tim Commisso said on more than one occasion that Burlington had zero tax increases for a number of years, making the point that during those zero tax years there wasn’t enough money being applied to the upkeep of the infrastructure.
Councillor Paul Sharman frequently talks about the several million dollar infrastructure deficit. That deficit is so high that they city had to put a special tax levy in place that was dedicated to infrastructure upkeep.
We find it interesting that Commisso would blame a previous Mayor for not collecting enough in the way of taxes while working in the Finance department – where he would have known just what the problems were.
 The size of the infrastructure deficit? It started growing during City Manager Tim Commisso was working in finance. Would he not have advised the Mayor at the time that more money had to be allocated to infrastructure upkeep?
Our source has Tim Commisso starting out in the Finance Dept. “ I assume he was hired by Bob Carrington but I can’t remember when he started. In the early 2000s after the retirement of Gary Goodman and the departure of Ed Sajecki to Mississauga.
“Commisso was successful in becoming one of three General Managers under Tim Dobbie (the other two being Bob Carrington and Leo DeLoyde).
“Tim’s General Manager responsibilities involved the Development Division (Planning, Engineering and Building). Given his involvement in finance, this involved a steep learning curve which he was able to surmount in good time.”
Perhaps the culture in the municipal sector is – you don’t speak up.
A reader sent us the following information on the amount of time Tim Commisso spent with the city before he moved to Thunder Bay:
City of Burlington
15 yrs 8 mos
General Manager
Oct 1999 – Sep 2008 · 9 yrs
Deputy Treasurer
Feb 1993 – Oct 1999 · 6 yrs 9 mos
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