In the news today: StatCan to release second quarter GDP report today

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

StatCan to release second quarter GDP report today

Statistics Canada is set to release its gross domestic product report for the second quarter this morning.

RBC says it expects the economy grew at an annualized rate of 1.4 per cent in Q2.

That’s below Statistics Canada’s preliminary estimate of two per cent.

RBC says it expects the report to show the economy continuing to weaken on a per-capita basis, given strong population growth.

The GDP reading comes ahead of a Bank of Canada interest rate announcement on Wednesday.

Economists are widely expecting the central bank to lower its policy rate by a quarter of a percentage point to 4.25 per cent.

Here’s what else we’re watching…

Move to end rail shutdown spurs labour debate

Workers’ rights are once again under the microscope after last week’s massive railway work stoppage was abruptly halted when the federal government intervened less than 17 hours after the shutdown began.

Ottawa’s decision to step in, particularly after Labour Minister Steven MacKinnon repeatedly stressed the benefits of deals hashed out at the negotiating table, has critics questioning whether such moves pose a threat to employees’ bargaining power — while defenders emphasize intervention for the sake of businesses and workers alike.

MacKinnon defended the order, framing it as a relief to employees across sectors.

Some academics, labour advocates and politicians saw things differently, viewing the minister’s action as a breach rather than a boon.

Margot Young, a law professor at the University of British Columbia, said the decision undermines employees’ collective bargaining rights and reduces companies’ motivation to negotiate in good faith.

Foreign student enrolment drops below federal cap

Universities Canada says enrolment by students from outside Canada has fallen below the cap the federal government set on international student visas this year.

The immigration minister announced a cap in January as a way to quell the rapid increase in the number of international students, citing pressure on housing, health care and other services.

The new policy limits the number of student visa applications the government would accept into processing, and it’s expected that will result in a 35 per cent drop in the number of students in 2024 compared to last year.

Universities Canada president Gabriel Miller says the change will actually be bigger than the government predicted, and that will take a major financial toll on schools.

Miller says the full impact won’t be clear until schools see how many students turn up in September.

Crown recommends nine years for Coutts protesters

A Crown prosecutor says two men convicted of mischief and weapons offences at the 2022 border blockade at Coutts, Alta., should spend nine years in prison, but defence lawyers think their clients have already spent enough time behind bars.

Anthony Olienick and Chris Carbert were convicted earlier this month of public mischief over $5,000 and possessing a firearm dangerous to the public peace. Olienick was also convicted of possessing a pipe bomb.

A jury found them not guilty of the most serious charge they faced: conspiracy to murder police officers.

Crown prosecutor Steven Johnston told a sentencing hearing Thursday that the case isn’t about the right to protest government policy and that believing in a cause doesn’t excuse committing a crime.

Olienick’s lawyer, Marilyn Burns, said her client never had any intention of hurting the police. She said a nine-year sentence would be excessive and called for a total of six months in jail for the dangerous weapon charge, with an absolute discharge on the explosives one and community service on the mischief conviction.

Labrenz will deliver the sentences on Sept. 9.

Back to school shoppers see no price relief

Canadians aren’t seeing any meaningful relief in their expenses when it comes to shopping for school supplies.

The cost of staples like food have soared, leaving less spare cash for binders, books and new school looks.

Despite many having less or no wiggle room in their budgets, 85.7 per cent of the 8,977 Canadians surveyed on behalf of the Retail Council of Canada in July predicted they would spend as much — or more — on back to school than they did last year.

About 73 per cent of those respondents planned to spend more than $50 and about 43 per cent said they would exceed $100.

An increasing number planned to shop early, too.

The survey found the top categories shoppers plan to spend on are school supplies, clothing, books and then electronics.

For items kids can’t do without, parents said they were scouring flyers for deals, browsing clearance racks and turning to second-hand stores or social media groups.

This report by The Canadian Press was first published Aug. 30, 2024.

The Canadian Press