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5 Things to Know Today: Key Money Headlines for Canadians

1. Spring Economic Update Lands Today Finance Minister François‑Philippe Champagne tables the 2026 Spring Economic Update this afternoon, outlining Ottawa’s latest fiscal outlook and new measures aimed at supporting Canadians amid global instability. 2. Fuel Excise Tax Temporarily Suspended Prime Minister Mark Carney has paused the federal excise tax on gas, diesel, and aviation fuel , offering short‑term relief as energy prices remain elevated due to geopolitical tensions.  3. Canada’s First Sovereign Wealth Fund Announced Carney has unveiled the Canada Strong Fund , the country’s first sovereign wealth fund, designed to finance major national infrastructure and economic‑building projects in partnership with the private sector.  4. CPP & OAS Payments Arrive Today New CPP and OAS payments are being issued today, including adjustments for seniors affected by recovery tax calculations, which are spread across monthly OAS payments.  5. Global Instability Conti...

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Unprecedented Heatwaves Highlight Urgent Climate Crisis

 

In recent months, numerous regions around the globe have been grappling with record-breaking heatwaves, underscoring the escalating impacts of climate change. From North America to Europe, Asia, and beyond, temperatures have soared to unprecedented levels, causing widespread concern among scientists and the public alike.

In the United States, Death Valley experienced temperatures exceeding 125°F (51.7°C) for nine consecutive days in early July, while Las Vegas shattered its all-time heat record at 120°F (48.9°C). Similarly, Europe has faced extreme heat, with countries like Spain and Greece enduring prolonged periods of high temperatures, exacerbating the risk of wildfires.

The situation is equally dire in other parts of the world. In Saudi Arabia, over 1,000 people succumbed to the heat during the Hajj pilgrimage, as temperatures soared to 125°F (51.8°C) at the Grand Mosque in Mecca. Meanwhile, Pakistan’s hospitals have been overwhelmed by heat-related illnesses amid frequent power outages and water shortages.

These extreme heat events are not isolated incidents but part of a broader trend driven by climate change. The global average temperature has been steadily rising, with each of the past 13 months setting new records for that month. The European Union’s Copernicus Climate Change Service reported that the planet experienced its hottest day in at least eight decades on July 21, only to break that record again the following day.

As greenhouse gas emissions continue to warm the Earth’s atmosphere, the frequency and intensity of heatwaves are expected to increase. This alarming trend highlights the urgent need for global action to mitigate climate change and adapt to its inevitable impacts.


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