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)
Skip to content
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.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Commentary
Carmichael: Services are Canada’s true ace in the game of global trade
Briefing
Businesses scramble to respond to wildfires as evacuations continue
CAAT updates the pension’s rules on pay transparency and workplace relationships
U of T gets government funding for wet-lab space at MaRS
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
