What to know about your finances amid market volatility
As tariff uncertainty roils the global stock markets, some Canadians are concerned about their investments. Financial counsellor Jessica Moorhouse joins Hanomansing Tonight to address some viewer concerns and questions.
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Global News
an hour ago
- Global News
‘Scant progress' offloading federal office space for affordable housing: AG
The federal government has made little headway on its pledge to get rid of unused office space and transform some of it into affordable housing. A report released Tuesday by Auditor General Karen Hogan found that Public Services and Procurement Canada has made 'scant progress' on that commitment, reducing its office footprint by only two per cent between 2019 and 2024. The department planned to cut office space by 50 per cent by 2034, estimating it could save nearly $4 billion over the next decade. But Hogan says there has been little movement on the initiative, which could also alleviate the housing crisis. The auditor general blamed the inaction 'mainly on a lack of funding.' 1:36 Report gives Alberta lowest rating in the country for housing policies 'The federal government has been slow to reduce office space and cut costs to support hybrid work, and to convert surplus properties into affordable housing,' Hogan said. Story continues below advertisement 'Public Services and Procurement Canada and federal tenants need to accelerate their efforts to reduce the office space they occupy and contribute to increasing stock for housing that is sustainable, accessible, and affordable.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Last year, former prime minister Justin Trudeau promised to free up public land and vacant government offices to build more homes for Canadians, as part of his commitment in the Liberals' 2024 budget to restore fairness 'for every generation.' 'Governments across Canada are sitting on surplus, underused public land, like empty office towers, low rise buildings, there is great potential.' To unlock some of that potential, Trudeau announced a $500-million public lands acquisition fund. 1:43 Should home prices go down? 'No,' says Canada's new housing minister In 2017, Ottawa estimated that half of its office space was either vacant or underused. Three years later, even more buildings sat empty, as COVID-19 ushered in a new era of remote work. Story continues below advertisement Today, with public servants mandated to work a minimum of three days a week in office, most federal offices are still not at 100 per cent capacity. With bureaucrats back in the office, federal tenants are reluctant to leave. 'More public servants needing to spend more time in the building and hence are hesitant … to clear out of the building,' Hogan said. 'I know from our office I can tell you that we put up our hand and said with hybrid work, we don't need the space that we have, and we have offered to reduce our workspace,' she added. 'I would hope that other deputy heads would do the same in order to support the goal.'
Toronto Sun
an hour ago
- Toronto Sun
Most Canadians want increase in defence spending: Poll
Canadian Prime Minister Mark Carney tours military vehicles and meets with Canadian troops of the 4th Canadian Division as he attends a tour of the Fort York Armoury on June 9, 2025 in Toronto. Carney has pledged to meet NATO's 2% spending pledge this year. Photo by Cole Burston / GETTY IMAGES OTTAWA — Spending an extra $20 billion to bring defence spending to its mandated NATO minimum is something Canadians approve of, say new poll numbers. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Released on Tuesday, the new Angus Reid survey suggests two-thirds of Canadians support Prime Minister Mark Carney's announcement Monday to boost Canada's defence spending to two per cent of our GDP — a minimum requirement under NATO that Canada has never achieved since the alliance introduced the benchmark in 2006. That plan, Carney said Monday, will ensure 'Canada is strong at home and reliable abroad,' and prioritize made-in-Canada manufacturing and supply chains. Sixty-eight per cent of those polled are in favour of increasing Canada's defence spending — with 51% wanting Canada to stop at two per cent, while 17% say they'd like to see spending go even higher. Twenty-three per cent want to keep spending where it is — currently 1.37% of GDP — while just 10% want defence spending reduced. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Broken down by party, 71% of Liberal supporters and 76% of Conservatives want defence spending increased, dropping to 55% for Bloc Quebecois voters, and 51% for NDP supporters. Unsurprisingly, NDP supporters were most likely to want defence spending decreased at 21%. With word this week that NATO's considering increasing defence spending benchmarks as high as five per cent, 47% say a spending increase that high would take away from other priorities, while 36% described it as a fair target. Read More Despite this, a plurality of Canadians aren't confidence the extra money will result in a stronger military. This advertisement has not loaded yet, but your article continues below. Forty-six per cent say they're not that confident the Liberal government will make significant progress in strengthening our armed forces, compared to 44% who say they do. Canada's efforts to distance itself from the United States also includes Canada signing onto the ReArm Europe defence plan, a deal Carney is hoping to ink by Canada Day. Sixty per cent described this plan as a good idea, while just 23% said Canada should remain close to the United States. Canada, Carney said on Monday, needs to find ways to stop sending three-quarters of our defence capital spending to the United States. The poll was conducted among 4,067 Canadian adults between June 2 and June 8, 2025 via the Angus Reid Forum. As margins-of-error cannot be applied to online panels, a comparable probability sample would yield one no greater than ± 1.5%, 19 times out of 20. bpassifiume@ X: @bryanpassifiume RECOMMENDED VIDEO Toronto Blue Jays NHL Columnists Toronto Maple Leafs Columnists
CTV News
an hour ago
- CTV News
Canadians believe they need $1 million to retire comfortably: report
Canadians preparing to retire believe they need $1 million or more to retire comfortably, according to Fidelity Canada's 2025 retirement report. This is the 20th year for the annual report, which shares the latest insights on Canada's retirement landscape. The study was done between March 13 and March 28, 2025, with 2,000 Canadians surveyed. The median age of participants was 62. Here are some of the report's key findings: 88 per cent of respondents agree retirement today is more complex than it was 20 years ago pre-retirees aged 45 and up believe they need at least $1,020,000 to achieve a comfortable retirement – more than double the amount 20 years ago in 2005, the same age group felt they needed $447,000 to retire, which equates to $685,000 in 2025 81 per cent of retirees feel positive about retirement, while only 59 per cent of pre-retirees feel positive 85 per cent agree retirement is about transitioning to flexible work arrangements or passion projects rather than stopping work completely Inflation, current turmoil in world politics and poor economic growth were cited as the main concerns for Canadians, according to the report. Uncertain times can affect pre-retirees, who are still in a period of accumulating wealth to support their retirement. Due to rising costs of living, 46 per cent of pre-retirees say they might postpone retirement to later than they planned. In 2005, the average age of retirement was 61, which has risen to 65 in 2025. Only 26 per cent of current pre-retirees plan to retire under 65. Canadians who have a financial advisor and written financial plan say they feel more prepared for their retirement. Women and those not born in Canada had a less positive outlook on their retirement. Fidelity Canada said this shows there isn't a one-size-fits-all approach to financial planning.
