Tristan Fairchild

Inflation is pushing the cost of retirement to record highs, forcing Australians to rethink their plans for their golden years.

The Association of Superannuation Funds of Australia (ASFA) has released its latest figures, which indicate for a comfortable retirement, a couple needs almost $80,000 a year, or around $1500 per week.

“To put that in perspective, if you were just on the pension, it would only deliver about $50,000 a year, so you are way behind on the pension,” Nine money editor, Effie Zahos told Today.

“These numbers are up around two per cent more for the quarter, when you are on a fixed budget, food is obviously going to hit hard, you had energy and fuel prices up over 20 per cent, so yes… inflation is really hurting these budgets.”

But Effie said there is any easy way you can increase your retirement income.

“One thing many Aussies make a mistake with in the pension, is we automatically assume Centrelink knows exactly how much money we’ve got and they’ll work it out,” she said.

But a recent Centrelink audit showed more than $5 billion in errors were made of overpayments and underpayments.

“The thing is, you lose $3 a fortnight per $1000 you go over the asset threshold of your pension,” Effie said.

But if you look at things like taking money out to pay for renovations in retirement and declaring your car and home contents depreciation value instead of market value, this could earn you an extra $210 per fortnight on your pension.

“It’s important you not this doesn’t happen automatically, Centrelink only looks at superannuation and shares say twice a year,” she said.

“If you make changes, the important thing is to tell them straight away.”

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.

Prime Minister Mark Carney officially unveiled Canada’s long-awaited AI strategy on Thursday, a document that encourages adoption across the country but has left some concerned that push could result in Canadians losing their jobs.

The details were first reported by CBC News earlier this week after it obtained a draft version of the document. The official strategy contains most of the information earlier reported, with minor changes.

According to the official strategy, Canada aims to do the following, among other goals:

• Protect Canadians and children against the risks from AI and online harms.
• Provide Canadians access to free AI literacy training, including reaching one million entry-level post-secondary students.
• Create up to 90,000 AI-related job opportunities for young Canadians.
• Support creating up to 250,000 new jobs through AI adoption by 2031.
• Boost Canada’s business adoption of AI from 12 per cent today to 60 per cent by 2034.
• Build a world-leading supercomputer as part of significantly enhanced sovereign infrastructure by 2031.
• Build a multilateral alliance giving Canada sovereign autonomy in key AI capabilities.

The strategy promises at least $2 billion in new investment to achieve its aims.

It was met with joy by some Canadian AI leaders, including Valérie Pisano, CEO of Montreal AI institute Mila. She said the strategy is “ambitious” and “puts a stake in the ground” that Canada is building AI for all Canadians.

“To us, it’s a balanced, robust, complete strategy, and certainly it gives us momentum to keep going on the things that we care about,” Pisano said.

Opposition parties pounced on the employment angle. Conservative deputy leader Melissa Lantsman panned the strategy and said her party doubts the Liberals can create jobs for young people when youth unemployment is already high.

NDP MP Don Davies told reporters that he doesn’t believe mass adoption of AI will create jobs.

“I think it’ll cost jobs. And until there’s measures that are in place that will address that, I don’t think the strategy is complete,” Davies said.

WATCH | NDP MP Don Davies criticizes Liberal AI strategy:

In a technical briefing for reporters before the announcement, senior government officials were asked whether Ottawa has an estimate on how many jobs could be lost to AI. They did not provide one.

During an interview with CBC’s The House airing Saturday morning, AI Minister Evan Solomon pointed to the Bank of Canada, whose deputy governor Michelle Alexopoulos recently told an Ottawa business audience there’s no evidence yet of widespread job losses.

“That doesn’t mean this won’t happen,” Solomon told host Catherine Cullen. “So our plan obviously is a pro-worker plan.”

The strategy aims to get people learning about AI through a National Literacy Initiative, which will offer entry-level training meant to be accessible to all Canadians. Ottawa also plans to train more than 3,000 educators with AI learning kits.

WATCH | Workers should fear AI-related job losses, says professor:

There are also initiatives to help young people find employment as AI disrupts the job market through programs like the Student Work Placement Program and Canada Summer Jobs.

Ottawa will additionally “assess training and upskill offerings for mid-career workers, including in skilled trades, to scale up employer-led training nationwide with a strong priority on AI-related skills,” according to the strategy.

Those measures aren’t enough for some Canadian labour groups, but others welcomed the strategy and expressed a desire to work with the federal government.

In a statement sent to CBC News, the Canadian Union of Public Employees (CUPE) argued the federal government is “putting the profits of Big Tech billionaires ahead of workers and the public by soft-pedalling protections against the risks of AI.”

A statement from Bea Bruske, president of the Canadian Labour Congress, said “Canada’s unions are united in calling for stronger AI laws, independent oversight, protections against surveillance and discrimination and a greater role for unions in shaping how AI is used.”

Light on AI safety

Carney acknowledged that Canada has to “be honest about the risks AI poses to Canadians,” including deepfakes, AI-generated disinformation and privacy concerns.

He also noted Canada “ranks near the bottom of countries in AI training, literacy and trust.”

The strategy highlights key actions Canada will take to address the issue, including modernizing consumer privacy legislation, introducing online safety laws, working on watermarking AI-generated content as well as a broader commitment to protecting elections and reviewing the Privacy Act.

However, like the draft version of the strategy, there are no details on specific actions.

The strategy does highlight that Canada will invest $50 million to expand the capabilities of the Canadian AI Safety Institute to track risks, advance technical research and transparently evaluate AI models.

Plus, Canada will “create a Canada trusted AI certification program to help Canadians identify trustworthy AI products in the marketplace.”

Scaling up AI adoption, Canadian champions

Key points in the strategy to boost AI use by small- and medium-sized businesses include utilizing the Business Development Bank of Canada’s LIFT program to help those businesses access financing to bring the technology into their operations.

Plus, Ottawa will invest $500 million to expand and enhance its Regional Artificial Intelligence Initiative, meant to help AI startups and growing firms scale up and address common challenges with AI adoption across critical sectors.

WATCH | AI funding announced in B.C. last month:

It’s also going to add $700 million to the AI Compute Access Fund, bringing its total budget to $1 billion.

The fund covers two-thirds of eligible costs for Canadian cloud-based AI compute services, or half of eligible costs for non-Canadian equivalents.

• AI minister names 44 projects getting federal money to access compute power

Canada will also launch a new AI Missions Program for projects “that deliver significant public good and demonstrate meaningful improvements in Canadians’ lives.” The first mission will commit $200 million to improve Canadians’ health outcomes.

As for scaling up top Canadian companies, the federal government is establishing a $500-million Canadian Tech Growth Fund, which would provide flexible capital and investment support and allow Ottawa to take equity stakes in “the most promising Canadian AI firms.”

“This will help them attract private capital, compete globally, retain talent and intellectual property and remain anchored in Canada,” the strategy said.

And Canada will leverage its recently announced sovereign wealth fund “where appropriate” to further support Canadian champions, the strategy adds. The details of how the fund will work have still not been released.

Canadian AI sovereignty

Carney highlighted Canada’s need for a sovereign AI ecosystem, but brushed off questions over whether doing so could irritate already-intense trade relations with the United States.

“This is a strategy any sentient country is taking,” Carney told reporters. “This is fundamentally strategic.”

Senior government officials said Canada doesn’t see itself moving completely away from a relationship with the United States on AI, but is trying to allow itself to scale in areas where it has a competitive advantage.

Quebec’s summer season is synonymous with a vibrant tapestry of cultural festivals, and in 2026, these events are playing a pivotal role in driving the province’s economic recovery and reinforcing its global cultural identity. Montreal and Quebec City, the twin pillars of Quebec’s festival circuit, are hosting their flagship events with renewed vigor, drawing millions of visitors and generating significant economic activity across the hospitality, retail, and entertainment sectors.

Montreal’s festival calendar is a cornerstone of the city’s cultural allure. The Montreal International Jazz Festival, the largest of its kind in the world, continues to transform the city’s downtown core into a massive, open-air concert venue. Alongside it, the Just for Laughs Festival and the Montreal Fringe Festival attract top-tier comedic and theatrical talent from around the globe. These events not only showcase the city’s rich artistic heritage but also serve as a major draw for international tourists, filling hotels, restaurants, and shops during the crucial summer months.

Quebec City, with its historic charm and European ambiance, offers a different but equally compelling festival experience. The Festival d’été de Québec (FEQ) is a musical juggernaut, featuring a diverse lineup of international and local artists across multiple stages, including the iconic Plains of Abraham. The city’s New France Festival also transports visitors back in time, celebrating the region’s Francophone history with period costumes, traditional music, and culinary delights. These festivals are instrumental in extending the tourist season and highlighting Quebec City’s unique cultural landscape.

The economic impact of these festivals is profound. The influx of visitors provides a vital lifeline for local businesses, many of which rely heavily on the summer tourism season to sustain their annual revenues. The hospitality sector, in particular, has seen a robust recovery, with hotels and short-term rentals operating at near-full capacity. Furthermore, the festivals create thousands of temporary and permanent jobs, ranging from event management and security to food service and transportation, providing a significant boost to the local labor market.

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The fishing industry is the lifeblood of Atlantic Canada, deeply intertwined with the region’s history, culture, and economy. In 2026, the implementation of new, science-based sustainable quotas by the Department of Fisheries and Oceans (DFO) marks a critical juncture for the sector. These updated regulations are designed to address the dual challenges of overfishing and climate change, ensuring the long-term viability of fish stocks while navigating the complex socio-economic realities of coastal communities.

The new quotas reflect a more precautionary approach to fisheries management, incorporating the latest data on stock health, ecosystem dynamics, and the impacts of warming ocean temperatures. For key species such as Atlantic cod, lobster, and snow crab, the DFO has adjusted catch limits to allow for stock rebuilding and to prevent overexploitation. While these measures are essential for ecological sustainability, they have sparked intense debate among fishers, processors, and community leaders who are concerned about the immediate economic impact of reduced catch volumes.

The impact of these new quotas on local coastal communities is multifaceted. For many small-boat fishers and independent owner-operators, reduced quotas mean lower revenues and tighter profit margins. This economic pressure is particularly acute in rural areas where the fishery is often the primary employer and the backbone of the local economy. In response, community organizations and provincial governments are advocating for increased financial support, transition programs, and greater flexibility in quota allocation to help fishers adapt to the new regulatory environment.

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Ontario is accelerating its transition to a clean energy future with the approval of a sweeping portfolio of new solar and wind projects across its southern regions. In 2026, the provincial government has greenlit several large-scale renewable energy developments, marking a significant step toward meeting its ambitious climate targets and reducing reliance on fossil fuels. This green energy push is not only reshaping the province’s power grid but also stimulating rural economies and fostering community-led sustainability initiatives.

The newly approved projects are strategically located in areas with optimal wind and solar resources, such as the shores of Lake Erie, the rolling hills of the Niagara Escarpment, and the expansive agricultural lands of southwestern Ontario. These developments include both utility-scale solar farms and offshore and onshore wind turbines, designed to generate hundreds of megawatts of clean electricity. By integrating these renewable sources into the provincial grid, Ontario aims to significantly reduce its carbon footprint while ensuring a reliable and stable power supply for its growing population and industrial sector.

One of the most notable aspects of this green energy expansion is the emphasis on community engagement and benefit-sharing. Unlike previous iterations of renewable energy projects, which sometimes faced local opposition due to visual and noise impacts, the new initiatives prioritize collaboration with host municipalities and landowners. Developers are required to implement comprehensive community benefit agreements, which include direct financial compensation, local hiring mandates, and investments in community infrastructure. This approach has helped to build public support and transform rural communities into active partners in the energy transition.

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Alberta, long synonymous with oil and gas, is rapidly transforming into a major player in Canada’s technology sector. In 2026, the cities of Calgary and Edmonton are attracting unprecedented levels of international investment, signaling a successful economic diversification strategy. This shift is not only reshaping the province’s economic landscape but also positioning Alberta as a competitive hub for innovation, talent, and global tech partnerships.

Calgary has emerged as a focal point for this tech renaissance. The city’s strategic location, lower cost of living compared to Toronto and Vancouver, and a highly educated workforce have made it an attractive destination for tech companies. Major international firms have established regional headquarters in Calgary, drawn by the province’s favorable corporate tax rates and robust government incentives. The city’s tech ecosystem is particularly strong in fintech, agritech, and clean energy technology, leveraging its historical strengths in finance and energy to drive innovation in these sectors.

Edmonton, meanwhile, has carved out a unique niche as a global leader in artificial intelligence and machine learning. Home to the University of Alberta, which boasts one of the world’s premier AI research institutes, the city has successfully translated academic excellence into commercial success. The Edmonton AI corridor is now home to numerous startups and established tech giants, collaborating on cutting-edge projects in healthcare, autonomous vehicles, and natural language processing. This synergy between academia and industry has created a vibrant innovation ecosystem that continues to attract top-tier talent and investment from around the world.

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British Columbia is bracing for a monumental summer in 2026, with tourism officials projecting record-breaking visitor numbers that will test the province’s infrastructure and celebrate its unparalleled natural beauty. Following a robust rebound in international travel, the province has seen a surge in interest from both domestic and overseas tourists. Destinations like Vancouver, Victoria, Whistler, and Tofino are experiencing unprecedented booking rates, prompting local governments and tourism boards to implement strategic plans to manage the influx while maximizing economic benefits.

The driving force behind this boom is a combination of pent-up travel demand and British Columbia’s reputation as a premier destination for outdoor adventure and eco-tourism. The province’s diverse landscape, ranging from the rugged coastlines of the Great Bear Rainforest to the alpine peaks of the Rockies, offers year-round attractions. However, the summer months are particularly coveted, drawing hikers, mountain bikers, and wildlife enthusiasts from around the globe. The introduction of new direct international flights to Vancouver International Airport has further facilitated this growth, making the province more accessible than ever.

Economically, the tourism boom is a significant boon for local communities. Hotels, restaurants, and tour operators are reporting surging revenues, leading to increased employment opportunities. In rural and Indigenous communities, tourism has become a vital economic driver, providing sustainable income and fostering cultural exchange. Indigenous-owned and operated tourism experiences, in particular, have seen a massive increase in demand, allowing visitors to engage authentically with the rich heritage and traditions of the region’s First Nations.

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