Ottawa announces toll cuts, fare freezes to boost Atlantic Canada travel
The plan, which aims to reduce costs assocaited with interprovincial transportation routes in Atlantic Canada and Eastern Québec, will also reduce fares by 50 per cent for passengers, vehicles, and commercial traffic on federally-supported Eastern Canada Ferry Services.
Marine Atlantic Inc. ferry services will receive funding to reduce fares by 50 per cent for passengers and passenger vehicles on its routes. The corporation will also freeze commercial freight rates.
Nearly 65 per cent of goods transported in and out of Newfoundland are transported by Marine Atlantic Inc., including 90 per cent of all perishables such as fresh produce, medical oxygen, and propane for home heating, reports The Weather Network's Nathan Coleman.
'Canada's new government is bringing costs down and building one, strong Canadian economy. The government is focused on reducing the cost of transportation, housing, and everyday expenses, and in parallel, connecting Canada's economy through major, nation-building infrastructure and breaking down internal trade barriers,' reads a statement on the Prime Minister's website.
'These changes deliver on a core commitment of the Prime Minister to unite the Canadian economy and put more money back in Canadians' pockets. These will help lower costs, improve mobility between provinces, and drive long-term economic growth for Canadians as we build the strongest economy in the G7.'
The fare reductions and freezes will go into effect August 1. (Nathan Coleman)
The confederation bridge was completed in 1997 and spans 12.9 kilometers. It can be subject to restrictions to high sided vehicles and closures during extreme wind events.
Canadians encouraged to spend more money at home
In April, Prime Minister Carney announced the introduction of the Canada Strong Pass, which became available at the start of June.
The pass is designed to help kids and young families discover the best of Canada-for free.
Under the plan, children and youth under 18 get free admission to national parks, galleries, and museums, along with free VIA Rail tickets when travelling with a parent.
People in the 18 to 24-year-old age cohort are eligible for steep discounts.
The pass also reduces fees for camping at national parks.
VIDEO: Learn more about the Canada Strong pass
Written with the help of files from Nathan Coleman.
Header image: Cheryl Santa Maria for The Weather Network. Graphics and images sourced from Canva Pro. Created with Photoshop.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
4 hours ago
- CNN
Trump's trade war victory is already under siege
The economy was supposed to crumble. The trade war was expected to escalate out of control. Markets were forecast to plunge. None of that happened – at least, not yet. President Donald Trump has pulled off what few outside the White House predicted: A trade war victory of sorts that sets America's taxes on imported goods higher than the infamous Smoot-Hawley era, without any of the damaging fallout so far. Customs revenue has increased sharply while inflation remains reasonably low. And America's trading partners, for the most part, have been willing to accept the higher tariffs without significant retaliation. Multiple framework agreements between the United States and other trading partners have jacked up tariffs on foreign goods imported to America while setting levies on US exports at or near zero. Overseas trading partners have agreed to open previously closed markets to some US goods, pledged increased investments in the United States and dropped some of what the Trump administration has lambasted as non-trade barriers, like taxes on digital services. But Trump's early trade victory may be short-lived. In fact, it is already showing signs that it may not last. The European Union, fresh off its 11th-hour compromise to get a trade agreement done before Trump's self-imposed August 1 deadline, is already in revolt. French Prime Minister François Bayrou called Sunday a 'dark day.' Hungarian Prime Minister and Trump ally Viktor Orban said Trump steamrolled the EU. Belgium's Prime Minister Bart De Wever lambasted the Trump administration's 'delusion of protectionism.' And Bernd Lange, chair of the European Parliament's trade committee, said the deal is 'not satisfactory.' The 27-member bloc has to hammer out key aspects of its framework, and the fragile trade truce between two of the world's largest economies could quickly break apart if sentiment turns against the arrangement. The Trump administration's trade talks with its northern neighbor and one of its largest trading partners have been effectively shut down. Despite Canada relenting on its digital services tax that the president has lambasted, Trump continued to threaten higher tariffs on some Canadian goods, including lumber. Although many goods imported from Canada continue to be tariff-free because of the US-Mexico-Canada free trade agreement, the USMCA only covers just about half of Canadian goods. So higher tariffs on Canada could raise some costs for American consumers down the road. And the fact that America is even embroiled in a trade spat with Canada in the first place is a sign that the recent cooling off in the trade war may not last: Trump negotiated and signed the United States' current trade agreement with Canada during his first term. At any time, even after an agreement is inked, Trump could turn around and decide to raise tariffs again. A third round of talks between China and the United States' trade negotiators is expected to result in a continued pause of their historically high tariffs on one another. But it's unclear what else might come from the discussions, and the Trump administration has grown frustrated by what it has described as China's slow-walking of its previous agreements. Both sides have aimed to reduce more regulatory barriers on shipments of key technologies. China has sought more access to critical semiconductors, and the United States wants the flow of rare earth magnets to increase further. But the Trump administration has tried repeatedly to speed up China's slow progress, claiming the country has failed to live up to its agreement to approve the critical materials for crucial electronics. Trump has also said he wants China to open up its market to more US goods – a desire that Chinese Premier Xi Jinping is unlikely to give in to significantly. Trump's rhetoric against China has cooled in recent months, but the truce appears to be on a knife's edge. A crucial appeals court hearing Thursday could determine whether most of Trump's tariffs are legal at all. For most of his tariffs, Trump has cited powers listed in the International Emergency Economic Powers Act. But a federal court in May ruled that Trump overstepped his authority to levy tariffs on that basis. An appeals court paused that ruling from taking effect and will hear oral arguments Thursday. It's not clear when the court will rule, and the White House would likely appeal to the Supreme Court if it loses. If Trump ultimately loses his ability to levy tariffs using emergency powers, he has plenty of other options – but legal experts have said those alternatives could limit his ability to set tariffs without Congress. For example, Trump may be able to impose some tariffs as high as just 15% but only for 150 days, potentially taking some of the bite out of his tariff regime. Although the US economy remains strong, with rebounding retail sales, a still-robust labor market and rising consumer confidence, there is some evidence that inflation in key areas is starting to creep higher – slowly – because of tariffs. That's a potential warning sign as the tariffs take full effect. The Bureau of Labor Statistics' Consumer Price Index earlier this month showed that some tariff-affected goods have started to gain in price. Clothing, appliances, computers, sporting goods, toys, video equipment, hardware and tools prices have been on the rise. And it's starting to become a trend – in many of those categories, the rise has been happening for a few months. Many major retailers, including Walmart, have said they will raise prices because of tariffs. And GM, Volkswagen and Stellantis all reported tariff charges of $1 billion or more over the past quarter. Economists widely expect inflation to pick up in the late summer and throughout the rest of the year as retailers work through the inventories of goods they had stockpiled before tariffs went into effect. No one expects anything close to the inflation crisis of a few years ago. But with consumers still dealing with price-hike PTSD, that won't be a welcome change from the return to healthy inflation levels over the past year.
Yahoo
5 hours ago
- Yahoo
iA Financial to buy wealth management firm RF Capital
Canadian company iA Financial has agreed to acquire RF Capital Group, a wealth management-focused company, in a deal valued at around C$597m ($435.1m). The deal will see iA purchase all outstanding common shares of RF Capital for C$20 each. The purchase price includes a C$370m valuation for RF Capital's fully diluted equity and C$227m in financial obligations, such as revolving debt and preferred shares. The acquisition will be financed through iA's existing cash reserves. iA Financial Group president and CEO Denis Ricard said: 'This acquisition aligns with iA's unique model, the iA way – highlighting our strategic approach to sustainable growth – by expanding our reach in target segments and enhancing our scalable distribution model. 'We strongly affirm our commitment to the value of advice by empowering advisors with best-in-class tools and preserving their independence so they can assist clients feel secure about their financial future.' RF Capital, operating under the Richardson Wealth brand, is an independent wealth management firm in Canada, managing over C$40bn in assets. The firm focuses on providing tailored financial advisory services to high-net-worth clients and has 23 offices across Canada. RF Capital president and CEO Dave Kelly said: 'This milestone marks an exciting new chapter for RF Capital. By joining forces with iA, we unlock powerful opportunities across technology, product innovation, and operational scale—enhancing the advisor value proposition through expanded capabilities and support.' 'Our advisors will continue to operate independently under the Richardson Wealth brand, backed by the financial strength and stability of iA Financial Group, and remain fully dedicated to delivering trusted, personalised advice to their clients.' The completion of the acquisition is anticipated in the fourth quarter of 2025. CIBC Capital Markets is serving as the exclusive financial advisor to RF Capital, with Goodmans LLP providing legal counsel. National Bank Financial is advising iA, with McCarthy Tétrault LLP acting as its legal counsel. "iA Financial to buy wealth management firm RF Capital" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 hours ago
- Yahoo
Air Canada reports Q2 earnings of $186 million in "challenging environment"
MONTREAL — Air Canada says it had a net income of $186 million in the second quarter, down from $410 million in the same quarter last year, in what it characterized as a "challenging environment." The airline says it's working to navigate macroeconomic uncertainty and geopolitical tensions and has strategically redirected capacity to high-demand markets. Air Canada says that on an adjusted basis, it had a net income of $207 million in the quarter compared to $369 million in the same quarter last year. Adjusted earnings worked out to 60 cents per diluted share in the quarter, compared to 98 cents per share last year. Analysts on average had expected an adjusted profit of 72 cents per diluted share according to LSEG Data & Analytics. Despite the challenges, the airline reaffirmed its financial guidance for the year that it issued in May. This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX:AC) The Canadian Press Sign in to access your portfolio
