Panel tells province to control spending; BoC holds interest rate steady
UCP government has to curb spending in order to meet campaign promise of a balanced budget
Alberta has been told it needs to tighten its belt. A blue ribbon panel has told the UCP government that in order to balance the budget in 4 years they need to curb spending in the health and education ministries but it can’t make cuts or raise taxes.
Interest rate to remain at 1.75-percent
It won`t cost you more to borrow money. The Bank of Canada is holding its key interest rate at 1.75-percent. Bank boss Stephen Poloz says growth in the second quarter was strong and exceeded July`s forecast. Energy production and housing has contributed to the growth. Inflation is also sticking to the 2-percent target.
Over 60-percent of Canadians now surviving cancer
There is big news on the survival rate for some cancers this morning. New stats from the Canadian Cancer Society show that more Canadians are surviving blood and breast cancers. Pancreatic cancer, that’s the same cancer Alex Trebek is fighting, is expected to become the third leading cause of cancer death in this country this year.
Southern States brace for Dorian
Over 2 million people have been told to evacuate along the American east coast ahead of Hurricane Dorian. While it is not expected to hit Florida, the Category 2 storm could pass close to Georgia and South Carolina later this week and may cause storm surge and flooding. The death toll from Dorian has risen to 7 in the Bahamas.
Hong Kong pulls extradition bill
Hong Kong has withdrawn its controversial extradition bill that sparked months of violent protests. The bill would have allowed Hong Kong residents to be sent to China for trial. But it’s not clear if the announcement will be enough to end the protests as other demands including an independent inquiry into police action will not be met.
Volatile day in British Parliament as PM suffers Brexit defeat
Britain’s Prime Minister is planning to call an early election after suffering a major defeat in Parliament. Lawmakers in Britain are making moves to bar Boris Johnson from making a no-deal exit from the European Union. Yesterday lawmakers voted to take control of the Brexit agenda.