Published July 5, 2026 Your morning rundown on the Canadian economy, markets, and money moves — TSX hits a record close, CUSMA talks roll past the deadline, the first CGEB payment lands, and what to expect ahead of the Bank of Canada's July 15 decision. 1. TSX closes at a record high on gold-miner strength The S&P/TSX Composite climbed 0.9% to close at a record 35,275 on Friday, July 3, powered by gold mining stocks. Gold prices firmed after U.S. nonfarm payrolls for June came in at roughly half the expected pace, fuelling bets that the Federal Reserve could turn more dovish. Agnico Eagle, Wheaton Precious Metals, and Barrick all posted solid gains, while financials like Scotiabank and BMO also moved higher on easing oil-supply concerns. Why it matters: if you hold Canadian equity index funds in your TFSA or RRSP, resource and financial-sector strength has been doing a lot of the heavy lifting this year — worth knowing if your portfolio feels more concentrated than you'd...
The Canadian federal government has recently allocated an additional $36.4 million to the Vaccine Injury Compensation Fund, a program designed to support individuals who have experienced serious injuries or fatalities related to vaccines since the end of 2020. Here are the key details:
Purpose of the Fund:
- The program was established shortly after COVID-19 vaccines became available to the public.
- It provides financial compensation to people who suffered adverse effects due to Health Canada-approved vaccines.
- The goal is to assist those who were seriously impacted by vaccination.
Funding and Administration:
- The Liberal government initially earmarked $75 million for the first five years of the program.
- A private firm called OXARO manages the program and disburses valid claims originating outside of Quebec.
- To date, OXARO has received $56.2 million from Ottawa and has paid out $11.2 million in compensation.
- Quebec has its own vaccine injury compensation program, which received $7.75 million when the federal program launched.
Recent Funding Boost:
- As part of the federal budget, the government allocated an additional $36 million to OXARO and Quebec.
- This funding covers the next two years of the program.
- The Public Health Agency of Canada contracted OXARO to ensure an impartial claims process.
Eligibility and Claims:
- The program covers injuries and deaths associated with vaccines approved for any illness.
- Eligibility criteria include severe, life-threatening, or life-altering injuries resulting in disability, incapacity, birth defects, or death.
- The available statistics do not specify which vaccines were involved.
Rare Adverse Reactions:
- Serious adverse reactions to vaccines are extremely rare (affecting less than one in a million people).
- Nevertheless, the government recognizes its duty to provide support when such reactions occur.
- Ottawa has also made COVID-19 vaccination mandatory for travel and federal public service employment.
In summary, the additional funding aims to ensure that those affected by vaccine-related injuries receive appropriate compensation while maintaining an impartial claims process. The program underscores the importance of vaccine safety and accountability in public health efforts.
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