The central bank has agreed to trim its budget by 15 per cent from 2026 to 2028, spokesperson Paul Badertscher said Wednesday, and savings from vacancies, attrition and voluntary retirements won’t be enough. The jobs to be cut by June make up about 10 per cent of staff. (The Logic)
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The central bank has agreed to trim its budget by 15 per cent from 2026 to 2028, spokesperson Paul Badertscher said Wednesday, and savings from vacancies, attrition and voluntary retirements won’t be enough. The jobs to be cut by June make up about 10 per cent of staff. (The Logic)
Talking point: Tuesday’s federal budget pledged to find $60 billion in savings over the next five years. That includes shrinking the number of public servants to 330,000 by 2028-29—about 40,000 fewer jobs than at its peak in 2024. “I am not going to try to diminish those consequences. They are real,” Michael Sabia, clerk of the Privy Council, wrote in a letter to public servants Tuesday. The Bank of Canada that Prime Minister Mark Carney once led as governor has not been spared, as Bloomberg first reported, despite now being tasked with overseeing open banking. “We will make sure that the Bank remains able to deliver on its mandate for Canadians,” Badertscher said.
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