News of the week: COVID return, housing crisis, 10,000 immigration invitation
The most important events of the week of August 14-20.
COVID-19 is returning to Canada. After a long lull and declining cases of illness, the virus has become active again. But doctors believe that so far only the elderly and immunocompromised people are at risk.
The Canadian government is still unable to find a compromise with Meta, which has blocked the display of Canadian news on Facebook and Instagram because of a law requiring the company to pay Canadian media for content. Canadian authorities argue that Meta's actions deprive Canadians of vital news, such as emergencies and wildfires. Meta, on the other hand, says it is unacceptable to pay for content that news media put on its platforms themselves.
In Canada, it is now possible to obtain a mandatory social insurance number (SIN) online. Newcomers will no longer have to go to special offices and wait in line, and the service will be much faster.
Housing remains a problem
The Bank of Canada may raise its key interest rate again. Economists speculate that the country's inflation rate rose to 3.3% in July, more than expected. The increase could come as early as September. The growth of the key rate entails an increase in interest on loans, mortgages, and deposits. The rate now stands at 5%, a record high for the last 22 years.
Minister of Housing, Infrastructure and Communities Sean Fraser, who was recently transferred to this position from Minister of Immigration, shared his views on the real estate situation in Canada. According to him, the government has been neglecting the housing issue for a long time, leading to the fact that even employed professionals can hardly afford to pay rent or buy a home. Now the authorities are working on a plan on how to speed up the construction of housing for different segments of the population.
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