Compiled by MarketsFarm
WINNIPEG, March 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- The latest federal budget included a number of spending increases which are to increase the deficit from the C$30.6 billion projected in the fall to now C$40.1 billion. Among the items Finance Minister Chrystia Freeland included were plans to double GST rebates, implement a dental care plan, and provide tax credits for green technology investments, and upping federal taxes on beer, wine and spirits. As well the federal Liberals said they will cut C$7.1 billion in spending over five years on consultants, travel and professional services.
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- Israeli Prime Minister Benjamin Netanyahu reacted with anger towards comments made by United States President Joe Biden on Tuesday. Biden repeated his demand that Netanyahu end his controversial plans to overhaul the Israeli courts. “Israel is a sovereign country which makes its decisions by the will of its people and not based on pressures from abroad, including the best of friends,” Netanyahu commented. Recently the PM said he put his reforms on hold until they can be voted on in the Knesset, following mass protests throughout Israel.
- As U.S. lawmakers ramped up their move to ban social media app TikTok, their accusations were thrown back at them. A growing number of lawmakers said they’re concerned that TikTok would allow China to spy on people using the app. However, Al Jazeera reported that the U.S. government’s Foreign Intelligence Surveillance Act has already permitted access to social media giants such as Google, Meta and Apple as means to spy on people.
