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Stellantis Sells Plant, OSAP Pause Affects Colleges
Stellantis sells its Brampton plant to Roshel, and OSAP funding pause threatens Ontario colleges.
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Business conditions in Canada are mixed today. The sale of Stellantis' Brampton plant shifts its use to defence, while the OSAP funding pause pressures Ontario colleges, and the government writes off $4.5 billion in COVID-19 aid.
In this briefing Ontario Student Assistance Program · Stellantis · Roshel · Government of Canada · Auditor General of Canada
Regulation
OSAP pause threatens Ontario dental college
A provincewide pause on Ontario Student Assistance Program (OSAP) payments to private institutions may force a dental college to close, reports City News Toronto. The college, which has been training dental hygienists and assistants for 22 years, could shut down as early as next month. The pause was implemented to address systemic issues within the financial aid system, affecting all private educational institutions in Ontario.
Impact Private colleges in Ontario face financial strain due to halted OSAP payments.
Sources: Global News ↗, City News Toronto ↗, Winnipeg Free Press ↗
Companies
Stellantis sells Brampton plant to Roshel
Stellantis has signed an agreement to sell its idled Brampton assembly plant to Canadian defence contractor Roshel, according to City News Toronto. The plant, which had ceased operations leading to over 2,000 layoffs, will be transferred along with its equipment. The financial terms of the deal were not disclosed. This sale marks a significant shift for the facility, previously used for automotive manufacturing, now transitioning to the defence sector.
Impact Automotive suppliers and local logistics firms face changes as the Brampton plant shifts to defence use.
Sources: City News Toronto ↗, Winnipeg Free Press ↗, Global News ↗
Politics
Canada writes off $4.5B in COVID-19 aid repayments
The Canadian government has written off $4.5 billion in COVID-19 emergency aid repayments, according to La Presse. The Auditor General's office disclosed that these funds, initially provided as pandemic relief, are no longer expected to be recovered. This decision reflects the challenges in reclaiming funds distributed during the crisis to individuals and businesses across Canada.
Impact Public-sector finance managers adjust to the write-off of $4.5 billion in unrecoverable COVID-19 aid.
Sources: La Presse ↗
Nothing significant reported today in Disruption · Internal tension · Safety & health · Markets · Trade.
Also today in the local press
- Québec met fin au bar ouvert des prêts pardonnables — Le Journal de Montreal
- Feds won't say whether EDC, BDC merger will mean job loss — Ottawa Citizen
- What Is It with the UCP’s Alcohol Problem? — The Tyee
- Canada and China sign deal to deepen financial sector ties — City News Toronto
- LILLEY: Carney’s sovereign wealth fund pick is more global than Canadian — Toronto Sun
- 15 soldiers on ventilators, 9 critical after deadly CFB Wainwright fire — Global News
- Saskatchewan government proposes restrictions for MAID eligibility — Global News
- Tories eye ex-developmental centre for addiction treatment hub — Winnipeg Free Press
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.