More than 155,000 public sector workers in Canada began a strike on Wednesday after failing to reach a wage deal with the federal government.
The Public Service Alliance of Canada union said contract negotiations would continue even as it called for its members working for the Treasury Board and Canada Revenue Agency to begin striking from midnight.
Striking workers picketed and waved union flags in front of Prime Minister Justin Trudeau's office at the Canadian Parliament in Ottawa, one of 250 picket lines across the country.
The union, which has been in collective bargaining for a new contract since 2021, had set a deadline of 9pm Wednesday. PSAC says it is the largest strike against a single employer in Canada's history.
“We truly hoped we wouldn't be forced to take strike action, but we've exhausted every other avenue to reach a fair contract for Canada's federal public service workers,” PSAC's president Chris Aylward said.
“We will remain on strike until the government addresses our key issues at the bargaining table.”
The strike will affect several federal services and could delay tax refunds since the walkout by revenue agency workers comes in the middle of the tax filing season. Passport renewals ahead of peak summer travel are also set to face delays.
The federal government said in a statement that it presented a “fair, competitive offer to the PSAC”, including a 9 per cent wage increase over three years, and that it would continue negotiations to reach an agreement quickly.
The contract negotiations cover two main groups of employees: 120,000 workers under the Treasury Board and more than 35,000 revenue agency workers.
The government has said it does not plan to extend the May 1 deadline for filing personal income taxes.
The strike would also affect 65 per cent of employees at the Canadian Grain Commission, including most inspectors of outbound grain at ports, according to the commission. Canada is a major wheat and canola exporter.
The strike underscores that many workers are driven to recoup purchasing power they lost during the recent period of high inflation. It could even set the tone for wage negotiations by both public- and private-sector unions in the coming months.
Annual consumer price gains drifted lower to 4.3 per cent in March, the slowest pace of inflation in nearly two years. The Bank of Canada sees inflation falling to 3 per cent by midyear, but officials have warned that elevated wage growth could make getting it back to the 2 per cent target “more difficult”.
Four cabinet ministers led by Treasury Board President Mona Fortier will hold a briefing on the strike and service disruptions on Wednesday.
The stakes are high for Mr Trudeau, whose government has increased the size of the public service by more than a third since he was elected in 2015. A scuffle with federal unions will likely draw the ire of the labour-friendly New Democratic Party, which is supporting him in a minority parliament, and widespread service disruptions will be unpopular among voters.
Agencies contributed to this report
WHAT ARE NFTs?
Non-fungible tokens (NFTs) are tokens that represent ownership of unique items. They allow the tokenisation of things such as art, collectibles and even real estate.
An NFT can have only one official owner at one time. And since they're minted and secured on the Ethereum blockchain, no one can modify the record of ownership, not even copy-paste it into a new one.
This means NFTs are not interchangeable and cannot be exchanged with other items. In contrast, fungible items, such as fiat currencies, can be exchanged because their value defines them rather than their unique properties.
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Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
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• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
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Timeline
1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line
1962
250 GTO is unveiled
1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company
1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens
1976
First automatic Ferrari, the 400 Automatic, is made
1987
F40 launched
1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent
2002
The Enzo model is announced
2010
Ferrari World opens in Abu Dhabi
2011
First four-wheel drive Ferrari, the FF, is unveiled
2013
LaFerrari, the first Ferrari hybrid, arrives
2014
Fiat Chrysler announces the split of Ferrari from the parent company
2015
Ferrari launches on Wall Street
2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary
