Tariffs on steel, aluminum and autos starting to take a toll on industry
Tariffs on steel, aluminum and autos starting to take a toll on industry
Dennis Darby, CEO of Canadian Manufacturers & Exporters, joins CTV News to discuss job losses in the manufacturing sector and what's driving the trend.
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CTV News
19 minutes ago
- CTV News
Mayor ‘confident' property tax increase will come in below target— and then some
It took some budget wrangling, but Mayor Morgan believes next year's tax increase will be under 5 per cent. CTV London's Daryl Newcombe reports. It took some budget wrangling, but Mayor Morgan believes next year's tax increase will be under 5 per cent. CTV London's Daryl Newcombe reports. Mayor Josh Morgan is now expressing confidence he can get the 2026 property tax increase below 5 per cent, and that doesn't include an additional $8.45 million available from last year's massive surplus. On Wednesday, members of the Budget Committee wrangled over a number of proposals intended to reduce next year's tax increase that currently stands at 7.4 per cent in the multi-year budget. Coun. Susan Stevenson's request for a business case about reducing the size of the Heritage Planning Department sparked a lengthy debate about Civic Administration's internal service review process. 'When it comes to the service review, council doesn't play a role,' argued Stevenson. 'When do we get to look (at department budgets) line by line? When do we get to hear about the departments? What they're doing, what they're focused on, and why the numbers are up?' A number of councillors emphasized that staffing levels are part of Civic Administrations ongoing service review process. 'When they've done the review and when they do it again next year, if they identify that there are some changes needed in the Heritage Department that's the appropriate time for that to come forward,' explained Coun. Skylar Franke. 'I have full confidence and trust in staff to be able to do that in a transparent and regular manner.' But Stevenson suggested the tax relief being demanded by many Londoners will require a deeper dive into municipal spending, 'We are going to have to find areas to cut costs. That is just for sure. What [cuts] are we going to look at if we don't want to look anywhere?' Mayor Josh Morgan Mayor Josh Morgan presenting a report to the Budget Committee on June 11, 2025. (Daryl Newcombe/CTV News London) During 2024-2027 Municipal Budget deliberations, Civic Administration's internal service reviews have provided savings of $14 million in 2024, $6.8 million this year, and $6 million (so far) for 2026. The mayor defends the internal process that includes right-sizing municipal departments and services, 'In 2016, council developed the robust service review process that has returned well over $250 million to Londoners and avoided tax increases. This is the department by department review [and] zero based budgeting.' The Budget Committee meeting also included a presentation by the mayor about mandatory Development Charge (DC) exemptions for affordable housing and other qualifying developments. A letter from Ontario's Ministry of Municipal Affairs and Housing confirms that the City of London is not required to continue setting aside millions of dollars each year to offset the exemptions. Savings to the property tax supported budget, water budget, and wastewater budget will total $10 million in 2026—and avoid a $32 million projected shortfall in 2027. 'This is very positive! I really appreciate the lobbying work that you (the mayor), the folks at AMO (Association of Municipalities of Ontario), and our staff have done,' said Coun. Sam Trosow. However, Stevenson said provincial policies have not changed since budget deliberations a few years ago when she tried to convince colleagues that offsetting the DC exemptions was unnecessary. 'The fact that this was available to us, the fact that clarity is coming so late, I think is a little bit concerning,' she asserted. 'You can say this is fact, but those aren't facts,' responded Morgan, who added that the province's clarification was necessary for London and other municipalities to discontinue backfilling the exemptions. 'The only people who can interpret the [Development Charges] Act with the authority that gives us the courage to take these sorts of actions are the people who pass that legislation, which is the provincial government,' he told Stevenson. Achieving the mayor's tax target of below 5 per cent will require about $13 million in new revenue and/or savings. Morgan said his target is now within striking distance, 'We've got boards and commissions who have said they're looking for savings, so with their help, the continued work of our staff, [and] the continued work of this council through the budget process, I'm confident that we can get under five [per cent] now.' In addition, council set aside $16.9 million from last year's massive budget surplus for tax relief purposes in 2026 and 2027. Utilizing $8.45 million each of those years would further reduce the 2026 tax increase by about another 1 per cent. Morgan will release his draft budget Oct. 27. The public will then be asked to provide input prior to budget deliberations by council in late November.
CTV News
an hour ago
- CTV News
‘The dust will fly' – but control measures returning this fall to Chatham-Kent
Chatham-Kent council has voted to reinstate its dust suppression program after backlash from rural residents who were left frustrated by the initial decision to cut it during 2025 budget talks. Council voted 13-3 on Monday night to bring the program back, months after eliminating it in an effort to save about $1.3 million from the municipal budget — a move that represented a 0.8 per cent savings on the tax rate. The change of direction came after vocal opposition from residents who live on gravel roads, including farmers and members of the Kent Federation of Agriculture. 'We're very happy that it's coming back,' said KFA president Jim Brackett, who lives on a dirt road in Morpeth. But Brackett warned that reinstating the program isn't enough — it has to be done properly. 'It has to be applied properly and has to be applied at the right rate, it has to be the right product, and it has to be done twice a year to be the most effective,' he said. The dust, he added, has serious consequences for both people and crops along with motorist's safety. 'It's bad for our health. And if you were doing a construction site in town, you would be obligated to mitigate the dust,' said Brackett. 'I wash my vehicle every couple of days because of this. My house, I can't open the windows. My crops, it'll form a layer over the crops and interfere with translocation, increase the heat.' He explained, 'I already know of one resident that's been forced off the road because he was in a cloud of dust.' Although residents have been calling for immediate relief, municipal staff say the program won't resume until sometime this fall due to tendering and administrative delays. 'If they wanted to, they could be doing it quickly, but it sounds like it's going to be September before we get it back,' said Brackett. 'I may not get dust control this year, but someone may. So as long as some of our members get dust control and some of our people that travel the rural roads, then that's a plus versus nothing.' Ward 6 Councillor Michael Bondy, who originally voted to cut the program, brought the issue back to the council table after hearing from residents across the municipality. 'I heard from a lot of rural voices, and they felt pretty slighted and, frankly, kind of ripped off because something that had been done for 40 plus years was cut from the budget with my help, because I voted to help cut it from the budget, because we were told by staff that it's ineffective, it doesn't work and it's a waste,' said Bondy. Bondy told CTV News there are upwards of 1700 kilometres of gravel roads across the municipality. 'It was just another one of these instances of the rural voices just weren't heard and I'm a city guy, but I represent all of Chatham-Kent as a councillor, right? So I thought, well, I'll bring this back. This should be an easy one. Well, not quite that easy, but it did pass after an hour and a half discussion.' Bondy says red tape is now the main hurdle. 'The dust will fly unless the process can be changed because there has to be a report to council. It has to be tendered. The tender award has to be signed and contracted... blah blah. What am I saying? I'm saying red tape is what it is. It's red tape.' While hopeful that staff can speed up the process, Bondy acknowledged it may take time. 'I'm really hoping that, you know, staff can maybe get this moving a little earlier as it is only the beginning of June,' he said. 'I thought this was going to be rather simple, because it's been done for 40 plus years, by the same people. So I didn't think it would be difficult to reinstate. But I'm not complaining because we did vote to reinstate it, so, you know, we're halfway there, I would say.' Meantime, residents like Brackett are cautiously optimistic, saying any progress is better than none.
Globe and Mail
an hour ago
- Globe and Mail
Public market insider buying at Western Forest Products (WEF)
Elizabeth Kernaghan, a 10% Holder, acquired 1,550,000 Common Shares on an indirect ownership basis for registered holder Kernwood Ltd at prices ranging from $0.402 to $0.405 between June 6th, 2025 and June 9th, 2025. This represents a $627,670 investment into the company's shares and an account share holdings change of 4.1%. Let the insiders guide you to opportunity at
