While gas prices have drawn attention in recent weeks, they’re only part of a broader shift that has been slowly building since the pandemic.
Car prices surged during the pandemic and have yet to fully return to prior levels.
The average cost of a new vehicle remains well above pre-2020 levels, while used vehicles have also become more expensive due to supply shortages and strong demand.
"Cars are getting bigger and there’s more in them," said Dave Power, partner and national automotive sector leader at KPMG in Canada, in an interview with CTV News (1). As a result of higher price points, Power notes that some are opting for much longer terms, sometimes up to eight years.
"It certainly can add to people’s debt load," Power told CTV. "It certainly also might mean that people have a car for a lot longer than they might anticipate if they’re not fully thinking through what that is."
At the same time, fuel costs have added another layer of strain.
Canadians are now spending an average of about $231 per month on fuel, according to a recent Ratehub report (2), with costs rising following global oil disruptions.
Fuel alone accounts for a significant share of overall vehicle costs, meaning even short-term price spikes can quickly affect monthly budgets.
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Read more: 3 essential money moves to make once you’ve saved $50,000
That combination of factors is pushing the overall price of car ownership higher.
For many households, the squeeze means less room for savings or discretionary spending. And unlike some expenses, car ownership can be difficult to scale back, especially for those who rely on a vehicle for commuting and daily life.
Even looking ahead, there’s little expectation of meaningful relief.
According to AutoTrader (3), monthly payments are likely to remain elevated through 2026. "With no expectation of a significant decline in vehicle prices, limited prospects for meaningful interest rate cuts, and assuming consumer demand remains broadly stable, we expect monthly payments to remain elevated but largely steady in 2026," the company said in its latest price index report.
It also warned that payments could climb further if prices rise again amid trade uncertainty. "If new car prices climb due to the trade unclarity with the United States, we may see an increase in monthly payments to over $1,000, which would be a first in Canada."
For now, rising costs mean your car is likely taking up a larger share of your budget — something more Canadians are factoring into their overall financial picture.
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CTV News (1); RateHub (2); Auto Trader (3)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
]]>The latest polling data reveals a community almost perfectly divided: 46% of Torontonians support welcoming jets to the island, while 49% remain opposed.
For those in favour, the "connectivity premium" — the idea that a jet-capable hub elevates the city’s economic status — is a powerful motivator. However, this support is remarkably fragile.
The data suggests that while residents value the convenience of a downtown airport, their enthusiasm evaporates the moment the conversation shifts to the potential loss of parkland or restricted harbour access.
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This local tension is unfolding against a backdrop of aggressive political maneuvering. In March 2026, the Ontario government effectively seized control of the narrative, announcing plans to take ownership of the airport lands (1). By declaring the area a Special Economic Zone, the province aims to bypass municipal hesitation and fast-track runway expansion.
The move has sent shockwaves through City Hall. "There is a distinct possibility that we may not be able to get those heights and those densities that are projected for the Port Lands," City Councillor Josh Matlow warned reporters (2). "That means there will be far less housing being built."
Read more: 3 essential money moves to make once you’ve saved $50,000
At the heart of the conflict lies a technical invisible ceiling known as the "obstacle limitation surface." These federal safety regulations dictate how high a building can stand within a flight path. If jets require a longer runway or a shallower approach, billions of dollars in planned high-rise developments in the Port Lands could be forced to scale back.
In a city gripped by a housing crisis, the trade-off is stark: do we prioritize a more efficient runway over thousands of projected homes?
Despite the concerns over density, a different narrative is emerging among those who see the airport as a catalyst for growth. Historically, living near an airport meant a "noise discount" on property values. However, in globalized hubs like London or New York, the convenience of a 10-minute commute to a jet-capable terminal can actually drive a luxury premium.
High-net-worth professionals and frequent business travellers often prioritize transit efficiency over total silence. As Toronto cements its status as a global financial centre, the traditional "airport discount" is being challenged by a new desire to be at the absolute centre of the action.
"With an upgraded airport on the waterfront, Toronto and Ontario will be able to compete with world-class cities across the globe," Premier Doug Ford stated during the announcement of the provincial takeover.
For the residents and builders of Toronto’s South Core, the gamble is now out in the open. Does the prestige of a globally connected Financial District outweigh the potential loss of housing supply on the eastern waterfront? As the province moves to "unlock Billy Bishop’s full potential," the future of every development from Bathurst to Parliament hangs on which side of that 49/46 split ultimately wins the day.
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Government of Ontario (1); CBC (2)
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]]>Solomon, a resident of Scarborough, ON, recently shared a devastating story with CTV News (1) that serves as a massive red flag for all of us. Solomon was trying to do the right thing for her family. About two years ago, while her father was facing health struggles, she fell behind on her mortgage payments. To save her family home, she managed to pull together $85,000 to put toward her mortgage.
She handed a bank draft for that entire amount to a woman she believed was a licensed professional. Instead of the money hitting her mortgage balance, the cheque was cashed and the funds vanished.
"The money didn’t go where it was supposed to go and that’s a lot of money," Solomon told CTV News.
The person Solomon dealt with for the transaction was Dianne Van Rossum. After the money disappeared, Solomon contacted the Financial Services Regulatory Authority of Ontario (FSRA) only to discover that Van Rossum was not actually licensed to conduct mortgage business in the province.
Now, Solomon is facing the exact nightmare she tried to prevent.
"I’m mustering through. But the situation is the same, my home is up for foreclosure," Solomon said.
This story is heartbreaking because it involves a total breach of trust. When we hire a professional, we assume there is a regulatory safety net under us. But in Ontario, and across Canada, you have to verify that the net actually exists before you jump.
The FSRA has since issued an explicit warning about Van Rossum, noting that she has been accepting funds without depositing them to process mortgages. This is an important lesson for all Canadians: never take a person’s word regarding their professional status, especially when you are entrusting your money to them.
In Ontario, mortgage brokers, agents and even the brokerages must be licensed by the FSRA. This licensing ensures they follow specific conduct rules and carry errors and omissions insurance. If you are working with someone unlicensed, you have zero protection if things go sideways.
Read more: 3 essential money moves to make once you’ve saved $50,000
Before you hand over a single document or dollar, you need to do your homework. Gina Stephens, the director of mortgage broker conduct with FSRA, suggests a proactive approach.
"I would encourage consumers to ask a lot of questions of the mortgage brokers they are working with as mortgages are not easy products," Stephens told CTV News.
You can verify a person’s standing in seconds. The FSRA maintains a public database where you can search by a person’s name, their license number or their brokerage’s name.
"I would also check our enforcement database to make sure the brokerage doesn’t have any actions taken by FSRA against them," Stephens explained.
If a broker asks you to make a bank draft out to them personally or to a company name you can’t find in the provincial registry, stop immediately. Legitimate mortgage transactions generally involve funds going to a law firm’s in-trust account or directly to a recognized financial institution.
Solomon’s experience is a reminder that even when we are stressed by family health issues or financial strain, we have to stay vigilant.
"When I found out the money didn’t go to the right place, I felt betrayed, I felt angry. I felt like she didn’t do the job she was paid to do," Solomon said.
Don’t let a fraudster turn a difficult financial period into a total loss. Check the FSRA website, ask for license numbers and never feel pressured to move faster than your due diligence allows.
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CTV News (1)
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]]>Across Canada, the national average for regular gasoline sat at roughly $1.80 a litre in the second week of April — up from about $1.26 a litre before the war in Iran commenced (1). In some parts of the country, drivers are already crossing the $2-per-litre threshold, including Victoria at $2.10 and Vancouver at $2.13 (2).
For many Canadian households, that’s more than an inconvenience — it’s a budget shock.
And it’s prompting renewed interest in electric vehicles. Searches for EV models on the Rates.ca insurance platform climbed 40% in March 2026 compared to the same period last year (3). EV sales on the used-car platform Clutch have spiked 112% since early January due to ongoing gas hikes (4). Canadians are now rethinking their numbers and reconsidering their options in a volatile economic climate.
The spike at the pump is tied directly to the war in Iran.
The Middle East produces about 31% of the world’s total oil, led by Saudi Arabia and Iran (5). About one-fifth of the world’s oil and liquefied natural gas (LNG) moves through the Strait of Hormuz (6) — and Iran has effectively closed the passageway to commercial shipping since hostilities escalated, thereby squeezing supply and driving up prices.
Israel bombed Iran’s South Pars natural gas field on March 18 (7) and struck again on April 6, targeting petrochemical facilities within the complex (8). According to Reuters, Iran retaliated by bombing energy hubs and LNG refineries across the Gulf Arab states (9).
QatarEnergy’s chief executive officer, Saad al-Kaabi, told the news outlet that Iranian attacks have destroyed 17% of Qatar’s LNG export capacity and could set the region back 10 to 20 years.
The longer-term damage could be significant, however. “A week ago or certainly two weeks ago, I would have said: If the war stopped that day, the long-term implications would be pretty small,” Christopher Knittel, an energy economist at the Massachusetts Institute of Technology, told The Associated Press (10). “But what we’re seeing is infrastructure actually being destroyed, which means the ramifications of this war are going to be long-lived.”
For Canadian drivers, that means elevated prices at the pump could persist — not just for weeks, but for years potentially.
For a long time, the federal government’s Incentives for Zero-Emission Vehicles (iZEV) program helped offset the higher upfront cost of going electric — offering up to $5,000 off the purchase or lease of qualifying vehicles. The program was paused in January 2025 after its funding was fully committed, and EV sales fell sharply in the months that followed (12).
But federal EV incentives are back. The new Electric Vehicle Affordability Program (EVAP) launched February 16, 2026, offering up to $5,000 for battery-electric vehicles (BEVs) and fuel cell vehicles, and up to $2,500 for plug-in hybrid vehicles (PHEVs) — for models with a final transaction value of $50,000 or less. Notably, Canadian-made EVs have no cap on their purchase price to qualify for rebates (13). The program received $2.275 billion in funding over five years.
Some provinces also have their own incentive programs, though availability varies widely. Québec offers up to $2,000 in 2026 through its Roulez Vert program (winding down through December 2026). Manitoba’s provincial rebate program ran until March 31, 2026. The Yukon, Northwest Territories and Prince Edward Island continue to offer rebates and incentives. British Columbia’s passenger-vehicle rebate program ended in November 2025. Ontario and Alberta currently have no provincial EV rebate for individual buyers in 2026 (14).
Read more: 3 essential money moves to make once you’ve saved $50,000
So, how much financial sense does it make to switch to an EV right now?
The upfront price is still a hurdle. The average new EV in Canada costs between $50,000 and $70,000, while entry-level models start around $35,000 (15). The average new vehicle (of any type) was priced at about $63,665 as of late 2025 (16). Used EVs average around $45,841 — compared to $36,816 for all used vehicles (17).
The EVAP rebate helps close that gap for eligible buyers, and cheaper models are on the way. Additionally, a Canada-China trade deal announced in January 2026 is expected to allow up to 49,000 Chinese-made EVs — some potentially priced in the high-$30,000 range — into the country (17).
Over the long term, owning an EV tends to cost less to operate. Clean Energy Canada estimates that the average EV owner saves roughly $15,000 over eight years compared to a gas-powered vehicle — or about $1,875 annually (18).
To put that in concrete terms, consider a popular compact SUV with a 60-litre tank. Priced at $1.80 a litre, a full tank costs about $108 and can take you roughly 600 kilometres. With an EV, charging 60 kWh at the national average residential rate of about 17 cents per kWh costs roughly $10 and can take you approximately 350 to 400 kilometres (19).
Based on the NRCan Vehicle Survey, the average Canadian drives about 15,200 kilometres each year (20). At that mileage, a gas-powered driver filling up roughly every 600 km would need about 25 fill-ups annually — adding up to around $2,700 in fuel. An EV driver charging at home would spend roughly $650 on electricity for the same distance. Over five years, that’s a difference of nearly $10,250.
Of course, real savings depend on where you live. Québec drivers benefit from some of the cheapest electricity in North America — just 7.8 cents per kWh — making EVs a particularly strong financial case (20). At the other end, Alberta’s average residential electricity rate is about 25.8 cents per kWh, which reduces — but doesn’t eliminate — the fuel-cost advantage. And B.C. drivers, who are already paying among the highest gas prices in the country, may find an EV’s potential savings a sweet deal right now.
However, there are real-world considerations beyond fuel costs. EV insurance premiums in Canada tend to run 30% to 35% higher than for comparable gas-powered vehicles due to higher repair costs (21). And while Canada’s EV charging network is growing — reaching more than 33,767 public ports as of early 2025, with DC fast chargers growing 28% year-over-year — many rural and remote areas still have limited access (22).
Home charging is the most practical and budget-friendly option for most EV owners, but installing a Level 2 home charger costs between $1,500 and $3,000, including the unit and installation (23).
An analysis by Transport & Environment found that gas-powered cars were “five times more exposed to energy crises” than EVs (24). That kind of long-term energy resilience is part of the reason that interest in EVs spikes every time oil prices surge.
If you drive frequently, pay low electricity rates and park in a home with charging potential, the financial case for going electric is stronger than it’s ever been in Canada — especially with federal rebates back in play. If you’re in rural Alberta or Saskatchewan, where electricity costs are higher and charging infrastructure is thin, a hybrid may be a more practical middle ground.
Perhaps the best of both worlds — particularly for first-time EV buyers with range anxiety — is a used EV that still carries a manufacturer’s warranty.
Whether or not you’re ready to go electric, here are steps to take control of your transportation costs:
— with files from Melanie Huddart
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CBC News (1, 2); Rates.ca (3, 15); The Logic (4); Visual Capitalist (5); U.S. Energy Information Administration (6); The Guardian (7); The Associated Press (8); NBC News (9); Reuters (10); Associated Press (11); Canadian Press / Yahoo Finance (12); Transport Canada – EVAP (13); ChargeHub / Wheelthrive (14); AutoTrader Canada / The Car Guide (16); The Globe and Mail (17); Mitsubishi Canada / Clean Energy Canada (18, 23); GlobalPetrolPrices.com / offgridsolarsystem.ca (19); NRCan Vehicle Survey / ThinkInsure (20); Insurance Portal (21); Natural Resources Canada / Electrum Charging / EVwire (22); Transport& Environment (24); Electric Vehicle Incentives (25)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
]]>So if signing mortgage papers causes people to think about life insurance, then the next question they should be asking is how much coverage is enough and what policy makes the most sense.
A mortgage creates an immediate, measurable financial obligation that doesn’t disappear if you die. That debt can fall to your partner or dependants and potentially put the family home at risk.
That’s why a mortgage is often a trigger to start thinking about life insurance. The PolicyMe data shows that "family well-being" ranks even higher than the mortgage as a reason to buy life insurance. This seems to suggest that Canadians aren’t just thinking about paying off debt, but also about protecting their loved ones’ financial future.
You can get a PolicyMe term life insurance policy with coverage up to $5 million. Premiums start at just $21 per month — making it easier for you to secure your family’s financial future within minutes. Just answer four questions, and PolicyMe will provide you with an instant, no-obligation quote which is valid for up to 90 days. Most policies are approved without any medical tests, and you can opt for term lengths ranging from 10 to 30 years.
Buying enough life insurance coverage to cover your mortgage balance seems sensible. However, most Canadians choose to buy more.
According to PolicyMe’s data, the average outstanding mortgage balance among customers was $451,681 in 2025. The average life insurance coverage was over 50% higher at $692,335.
That gap shows that people buy life insurance to protect their family’s overall financial stability. If you only buy enough life insurance to pay off your mortgage, surviving family members may struggle to cover living expenses, especially since the income you were earning is presumably also gone.
The Canadian Life and Health Insurance Association says people typically use life insurance to protect their families against financial disruption that goes beyond a single debt.
Read more: 3 essential money moves to make once you’ve saved $50,000
Homeowners tend to buy more life insurance than non-homeowners. But the detailed data from PolicyMe is even more revealing. For example, Canadians aged 25 to 29 with a mortgage buy 59.9% more coverage than their renting peers. That gap narrows for Canadians in their 30s as non-homeowners take on additional financial responsibilities and rises again at age 45 to 49, where homeowners carry 55.0% more coverage.
There’s another factor at play. Canadians are buying homes later. Between 2021 and 2026, the peak mortgage-holding age group moved from the ages of 30 to 34, to the ages of 35 to 39. According to the Canada Mortgage and Housing Corporation, higher home prices have forced first-time buyers to delay their entry into the housing market (2). The theory is the delay in becoming a homeowner has a knock-on effect that impacts other big financial decisions like the purchase of life insurance.
The type of insurance offered through your mortgage provider works differently from traditional forms of life insurance, such as term life insurance.
Mortgage life insurance is an optional insurance policy that pays the balance on your mortgage if you die. It’s key to remember that as you pay down your mortgage, your premiums stay the same but usually cover an increasingly smaller amount of money. What’s more, the insurance payout goes to your mortgage lender rather than someone you’ve designated beforehand (2).
Term life insurance pays out a fixed amount of your choice if you die within a specific period. The amount of the coverage does not decrease over time, and the payout goes to whomever you select as a beneficiary. "That’s the key difference between regular mortgage protection insurance and term life – its flexibility allows you to protect your overall family financial wellbeing, instead of only covering a single expense," says Andrew Ostro, CEO of PolicyMe.
Despite providing a higher payout, PolicyMe says term life insurance often costs two or three times less than mortgage life insurance.
When deciding how much coverage you need, consider all the financial demands that may fall on your dependents if you weren’t around. A common rule of thumb in the industry is that your term life insurance coverage should be seven to 10 times your annual salary. But that’s just to replace lost income. You also need to think about your mortgage, other debt that needs to be paid off, as well as ongoing and future expenditures like education and healthcare.
For example, if you earn $100,000 a year, have a $600,000 mortgage, an outstanding $20,000 loan on your vehicle, and plan to spend close to $50,000 on each of your two children for post-secondary education, you would need about $1.5 million in total life insurance coverage.
In other words, a lot more than simply the balance of your mortgage.
That’s why it’s a good idea to look at your household’s full financial picture instead of just one loan balance, even if it is a big one like a mortgage.
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A mortgage may be the thing that gets you thinking about life insurance, but it shouldn’t necessarily act as a limit on how much coverage you buy.
The data from PolicyMe shows Canadians tend to choose coverage that goes beyond their outstanding mortgage balance. The challenge is making the best decisions about a policy that actually matches your needs.
Your mortgage is only one part of a bigger financial picture. It might start the conversation about life insurance, but it shouldn’t be where it ends.
These are the findings of an analysis of over 1,450 customer interactions with PolicyMe completed between January 1 and March 31, 2026; over 800 interactions completed between January 1 and December 31, 2025; and over 190 interactions completed between January 1 and December 31, 2021. Responses were recorded in English and French by Canadians aged 18 and over. Customer data is self-reported and not subject to independent verification.
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PolicyMe (1); Canada Mortgage and Housing Corporation (2); Government of Canada (2)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
]]>A primary highlight of the 2026 Ontario Budget is a temporary enhancement of the Harmonized Sales Tax (HST) New Housing Rebate. Effective April 1, 2026, the provincial government, in partnership with the federal government, is removing the full 13% HST on qualifying newly built homes.
To assist with the costs of family expansion, the province has introduced the Ontario Fertility Treatment Tax Credit (OFTTC). This is a refundable credit, meaning it can be claimed even if the taxpayer has no tax liability for the year.
Read more: 3 essential money moves to make once you’ve saved $50,000
Following the cessation of federal pollution pricing at the pump in early 2025, the Canada Carbon Rebate (CCR) program has concluded. The final quarterly payment was issued in April 2025.
However, a critical deadline remains for those with unfiled returns. The federal government has established a strict cutoff: no CCR payments or adjustments will be processed for tax returns filed after October 30, 2026. Individuals with outstanding 2024 returns must file before this date to receive any remaining rebate entitlements.
Maintaining awareness of the CRA’s schedule ensures that taxpayers avoid late-filing penalties and interest:
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]]>New research from Embark finds more than half (54%) of expecting parents say they feel only somewhat financially prepared to have a child, highlighting a significant gap between planning and confidence.
"What we’re seeing is that families aren’t waiting. They’re taking action early, and RESPs are becoming one of the most common ways they’re doing it," said Andrew Lo, CEO at Embark.
For many new and expectant parents, the financial pressure builds quickly.
Among new parents, 37% report spending between $500 and $999 per month on their child, while another 26% spend under $500 — a range that reflects how early costs can vary, but nonetheless add up fast.
At the same time, certain priorities are shifting. For example, when asked how they would use an extra $2,500, more parents said they would save the money (22%) or pay down debt (20%) than spend it on immediate needs like baby essentials (13%) or housing (11%).
That suggests many are trying to balance immediate expenses with longer-term financial stability from the outset.
Secure their future today. Get a personalized quote in minutes and find out how affordable peace of mind can be for your family.
Support from family remains an important factor for millennial parents.
More than one in three new parents (36%) say they’ve received financial help, including 21% who received a one-time contribution and 16% who receive ongoing support.
Access to that support, however, isn’t consistent. According to Embark’s survey, in British Columbia a majority of parents report not receiving financial help from family, underscoring how uneven those familial resources can be.
Read more: 3 essential money moves to make once you’ve saved $50,000
Despite the pressure, many parents are still focused on future costs, particularly education.
According to Embark, nearly three-quarters (73%) say they have opened a Registered Education Savings Plan (RESP), and 74% are aware of government matching programs that can help grow those savings.
At the same time, overall financial confidence remains strained. Only 33% say they believe they will be able to fully pay for their child’s post-secondary education, while 27% say they won’t be able to, and 26% expect it will be financially tight.
The findings point to a broader shift in how younger families approach money management.
Financial concerns rank among the top challenges for new and expecting parents, second only to sleep-related issues — and in many cases, those concerns are already influencing decision-making.
When asked to choose between receiving $5,000 or a week of uninterrupted sleep, 84% of new parents chose the money — a signal of how central financial considerations have become, even in the earliest stages of parenthood.
For many families, the approach is practical: manage immediate costs, plan for future expenses, and adjust expectations along the way.
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]]>EQB Inc. — the parent company of EQ Bank — announced on March 6, 2026, that it received Competition Bureau clearance for its proposed acquisition of President’s Choice Bank, PC Financial Insurance Agency Inc. and affiliated entities (1). The deal is one of the largest loyalty-linked banking transactions in Canadian history and would make EQ Bank the exclusive financial partner for the PC Optimum program.
The acquisition still requires sign-off from the Office of the Superintendent of Financial Institutions (OSFI) and the Minister of Finance before it can close, with the expected timeline landing within calendar 2026 (2).
The transaction covers the entire PC Financial operation, including the PC Mastercard portfolio — one of the largest credit card books in Canada with more than two million active accounts — along with retail deposits and insurance. In total, EQB says the deal adds $5.8 billion in assets and more than $800 million in direct retail deposits to its balance sheet (3).
Combined with EQ Bank’s existing customer base, the merged institution means EQ Bank will now serve nearly 3.5 million Canadians (4).
For context, EQ Bank built its reputation as a digital-first challenger bank known for high-interest savings accounts and no-fee everyday banking. Adding a major credit card portfolio and a grocery loyalty partnership is both a meaningful pivot as it provides even more value to its customers, and also a declaration: it aims to become a big bank in the Canadian fintech space.
In the short term, nothing changes. The deal still needs federal regulatory approval, and until that happens, PC Financial continues to operate as it does today.
Once the acquisition closes, EQ Bank becomes the institution behind your PC Mastercard and the financial backbone of the PC Optimum loyalty program. Whether that means changes to earn rates, cardholder perks or redemption terms is not yet known — those details would be set by the new operator and Loblaw Companies Limited as part of their commercial arrangement.
PC Optimum members who do not carry the credit card are less directly affected, but the program’s financial partner will change, which could eventually influence how points are structured or promoted.
Read more: 3 essential money moves to make once you’ve saved $50,000
Cardholders do not need to take any action before the deal closes. Accounts, balances and points are not affected by a change in ownership during a regulatory review period.
That said, it is worth paying attention once closing is announced. When ownership of a major credit card portfolio changes, issuers sometimes introduce new terms — including interest rates, reward structures or annual fees — typically with 30 days’ notice to cardholders. Reviewing any notices from PC Financial or EQ Bank when the deal finalizes will help you decide whether the card still fits your needs.
If the rewards structure improves — something EQ Bank has signalled as part of its loyalty-banking strategy — that could be a genuine benefit for Canadians who shop regularly in the Loblaws family of stores. If terms shift unfavourably, cardholders will have the option to cancel without penalty before changes take effect, per federal financial consumer protection rules.
The deal is not yet complete. But for millions of Canadians, a familiar card is about to get a new bank behind it.
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Newswire: EQB receives Competition Bureau clearance for acquisition of PC Financial (1, 2, 3, 4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
]]>CTV News reported that the Technical Standards and Safety Authority (TSSA), which regulates and provides oversight of both fuel and other industrial stations, received three separate complaints from customers who had water in their fuel after filling up (1).
Ontarians that used the station started having vehicle issues soon after. Lindsay Fitzgerald from Tiny Township filled up her vehicle at the Esso location and found her car would not start the next day, she told the news outlet. After calling a local mechanic, Fitzgerald was told her fuel contained a significant amount of water — up to 50%. Once the contaminated fuel was drained from her vehicle’s gas lines, it started to operate normally.
Other residents were not so lucky. Jeremy Nadeau filled up his work truck at the same station. After driving a mere 10 kilometers, he had to have his vehicle towed — and pay over $1,000 for repairs, he told CTV.
After TSSA inspectors visited the station, they found that water had leaked into the station’s two fuel tanks, though it was unclear how the contamination occurred (2). For now, both fuel storage tanks are shut down and the TSSA said it will return to the station once the issues have been addressed.
Vehicles that burn fuel contaminated with water can face a number of issues, such as a misfiring engine, rough idling and general poor engine performance (3). In cases where the water is present in the fuel system for an extended period of time, rust and corrosion can develop, hampering the flow of fuel and causing additional impairment.
The amount of damage caused from driving with contaminated fuel depends on how much water is present and how long it stays in the vehicle’s fuel system. The temperature outside also makes a major difference.
Jeff Whiteside, owner of Jeff Auto Repair, told CTV that if the motorists had used the water-heavy fuel when temperatures were colder, they could have faced very costly repairs.
“The only saving grace is this time of year, it’s not cold enough for the water to freeze, because if the water (was) to freeze, you’d be destroying fuel pumps, fuel injectors, fuel lines, possible tanks as it expands,” Whiteside told the outlet. “So, they got off really cheap.”
One expert told CBC News that it is not unreasonable to expect to pay $500 to $1,000 to fix the issues, so long as the fuel was not in their vehicle’s system for an extended period of time (4).
Read more: 3 essential money moves to make once you’ve saved $50,000
Situations like these are difficult to untangle when it comes to liability and consumer recourse.
Gas stations in Ontario are regulated under a number of different legislation such as the Gasoline Handling Act (5) and the Technical Standards and Safety Act (6) and the associated regulations. Ontario’s regulatory framework requires stations to monitor fuel tanks for issues like water contamination and take affected systems out of service when problems are detected.
Even if a gas station did not knowingly sell contaminated fuel, it may still be held liable if it failed to properly monitor or maintain its fuel systems, which lead to the contamination.
When a number of Edmontonians faced a similar issue at an Esso station, the owner of the store compensated them personally — even taking out a line of credit to cover the damages, CBC News reported (7). However, one customer that requested to be reimbursed for a $7,000 repair and towing bill, was not fully paid out at the time the news outlet published the piece. With negotiations not bearing any fruit, the customer was considering going through their insurer or taking the matter to small claims court.
Damage caused by contaminated fuel may be covered under optional comprehensive insurance, which applies to non-collision losses. However, because fuel contamination may not be a named peril, coverage often depends on the policy and the insurer’s assessment (8).
If all else fails, consumers that believe they are not being compensated may be able to take their matters before a judge.
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If you suspect your vehicle has contaminated fuel, you need to act quickly. Here are some expert-backed tips to make sure you get back on the road as soon as possible without damaging your vehicle.
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CTV News (1, 2); Orchard Ford (3); CBC (4, 7); Ontario.ca (5, 6); ThinkInsure (8)
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]]>According to the latest income data from the agency, 11% of Canadians were living in poverty as of 2024 (1). Compared to 2023, which saw the poverty level at 11.1%, this number is relatively unchanged. However, if you look back to 2020, the number was only 7%. In absolute terms, 11% of the population translates to 4.5 million Canadians living below the poverty line..
StatCan measures poverty based on the Market Basket Measure (MBM). Under the MBM model, a family is in poverty if they cannot afford the cost of a "specific basket of goods and services in their community, after adjusting for family size (2).” The basket of goods and services is not a measure of luxury, but of a basic standard of living. Goods and services in the basket include the cost of food, clothing, transportation, shelter and other modest expenses.
For example, a family of four in Toronto would need to have an income of $61,763 in 2024 to be considered above the poverty line. Calgary’s income threshold for 2024 was $57,840, Vancouver’s was $64,351, and Montreal’s was $49,244 (3).
Regions that saw the largest amount of poverty in 2024 were mainly in Northern Canada, with Nunavut having the highest recorded level at 31.7%. British Columbia was second at 13%, Ontario at 12.5%, while Quebec had the lowest poverty rate at 7%.
StatCan’s report also highlighted how the median after-tax income for Canadians in 2024 was $75,500, down slightly from $77,400 in 2023 after adjusting for inflation.
Under StatCan’s MBM model, poverty is directly related to Canadians not meeting a certain income threshold, which largely determines what goods/services they can afford. However, rising costs — especially for essentials like food and shelter — are making it harder for Canadians to stay above the line.
For instance, headline inflation (the total inflation rate representing the percentage change in the Consumer Price Index (CPI)) has risen nearly 20% since 2020 according to StatCan (4). And during some high-inflation periods, such as the COVID-19 pandemic, the median hourly real wage for Canadians fell by nearly 5% (5). The erosion of Canadians’ income cuts their ability to pay for necessary goods and puts them at risk of falling under the poverty line.
But headline inflation is not the major issue. Core goods such as food and shelter have been rising faster than headline numbers — which puts even more pressure on Canadians to stay afloat.
Families of four are expected to spend $17,571.79 on food this year according to Canada’s Food Price Report 2026, with the cost of food being 27% higher than it was in 2021 (6). In fact, grocery prices have risen more than 30% since 2019, even though overall inflation is settling, according to TD Economics (7).
Shelter prices — the cost of rent, mortgage payment, taxes, utilities and other municipal services (8) — have also risen considerably in the last half decade. The most recent data from StatCan shows that shelter costs rose 28.5% from 2020 to 2025.
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The cost of living for one out of 10 Canadians is very difficult to navigate. Additionally, making predictions about the future costs of goods and services, and if wages will rise to meet these costs, is not a simple matter. But there are a number of initiatives aimed at helping Canadians tackle affordability challenges.
Read more: 3 essential money moves to make once you’ve saved $50,000
While these initiatives are admirable, some groups suggest Canada’s government needs to be doing more. Charitable foundation Maytree states in a release that Canada is not on track to "achieve its 2030 poverty reduction target of reaching 50 per cent below 2015 levels (13)." The organization also notes how the country was making "significant progress" in reducing poverty prior to 2021.
But with the erosion of government benefits, a rising cost of living outpacing wage growth and a lack of "meaningful investment in new income supports," Maytree has concerns about how Canada will tackle this issue.
It suggests two important changes:
"Above all, we need a whole-of-government approach to poverty reduction that binds these actions together – one that will truly build a stronger Canada for all,” the charity argues.
Maytree is not the only organization calling for more change.
Food Banks Canada (FBC) recently gave Canada a D on its Poverty Report Card (14), which includes responses from over 10,000 Canadians. The organization notes that nearly two-thirds of Canadians who receive government support are not getting enough help to fund their needs, and calling for additional government assistance. Out of the data collected, FBC suggested policy changes including adopting a national commitment to cut food insecurity in half by 2030, reviewing the "adequacy and accessibility of the Canada Disability Benefit," and establishing a national housing accord with provinces and local governments to access more funding to create affordable residences.
Managing your financial situation in this economy is difficult, especially if you’re one of 10 Canadians currently under the poverty line. Here are some easy-to-implement ways you can get a leg up this year.
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Statistics Canada (1, 2, 3, 4, 8); CBC News (5, 12); Dalhousie University (6); TD Economics (7); Government of Canada (9); Prime Minister of Canada (10); Housing, Infrastructure and Communities Canada (11); Maytree (13); Food Banks Canada (14)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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