Posthaste: Toronto housing comes roaring back, what businesses want from their MPs and Bombardier's ever-shrinking portfolio


High corporate taxes is a well-known gripe of businesses across Canada, but the big surprise in the Canadian Federation of Independent Business’s survey is the high proportion of small businesses keen to see the scrapping of higher tax on selling their business to family members as opposed to a third party.

“It is a crazy policy that exists for a number of reasons,” says Dan Kelly, chief executive officer of the Canadian Federation of Independent Businesses, which represents 110,000 small business owners. “(It) discourages owners from passing on their business within the family.”

Toronto housing is back with a bang, with sales surging 19 per cent in May compared to the same month a year earlier, while prices rose 3.1 per cent, according to the Toronto Real Estate Board’s latest report this morning.

“We are experiencing annual rates of price growth that are largely sustainable right now in the GTA – above the rate of inflation, but in the single digits,” said Jason Mercer, TREB’s chief market analyst. “If, however, we continue to see growth in sales outstrip growth in new listings, price growth will accelerate.

Markets are flashing green this morning after U.S. Federal Reserve Governor Jerome Powell signalled that he is open to interest rate cuts. The Beige Book out later today should provide further clues on the Federal Open Market Committee’s latest thinking.

And it’s Wednesday, which means we just released Down To Business Podcast’s latest episode. This week, Emily Jackson quizzes Susan Senecal, president and CEO of A&W Canada, on why her chain was the first national fast-food restaurant to introduce Beyond Meat burgers.