Staying the Course: Our Analysis of Ontario’s 2025 Fall Economic Statement
Ontario is watching the storm. The fall economic statement has reinforced the government’s strategy in the 2025 budget: precaution. With no major changes to the economic outlook or revenue and spending projections, it feels like Ontario is waiting to see what 2026 brings. The current outlook is largely intact from the spring, but the risks have increased.
Investing in Canada’s Future: A Costly Endeavour—Our Analysis of the 2025 Federal Budget
The federal government’s 2025 budget shifts gears to a focus on capital spending, away from the Trudeau-era’s prioritization on social programs. This focus is reflected across a wide range of direct investments through the new Major Projects Office and tax incentives aimed at spurring business investment. (Lire en français.)
The Future is Now: Innovation in Budget 2025
The innovation agenda in the 2025 budget is incremental at most, leveraging and rebranding programs such as the Venture “and Growth” Capital Catalyst Initiative and Strategic Response Fund, as well as extending funding for existing supports. Though it introduces new strategic vehicles for investment in key emerging technology sectors, like quantum, AI, and life sciences, it lacks an overall strategic direction to nurture homegrown firms and ecosystems.
Featured Insights
Labour Market Surprises in October
Canadian Economics November 7, 2025
Canada added 127,000 jobs over September and October, a positive sign as Canada’s economy continues to navigate the trade war. Employment now stands 88,500 higher than in January—an increase of 0.4 per cent—while the unemployment rate has risen by 0.3 percentage points to 6.9 per cent.
Quick take • 2-min read
Maxime Arseneau
Trick, No Treat: Canadian Economy Shrinks in August
Canadian Economics October 31, 2025
Canada’s real GDP declined by 0.3 per cent in August, marking fourth decrease in five months. Even with interest rate cuts, overall growth in the final half of the year is expected to be meagre.
Quick take • 3-min read
Viktor Cicman
AI on the Horizon: October 30, 2025 Update
Canadian Economics October 30, 2025
Canada’s latest AI news on the economy, society, and policy. In this issue, we examine the implications of AI energy consumption. Canada’s abundant water, energy and land are being eyed by technology giants to deploy AI infrastructure, raising concerns about environmental impact, and long-term economic prosperity.
Quick take • 3-min read
Graham Dobbs, James Lannigan
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