Global Markets: Liberals to unveil tax changes

By Commodity News Service Canada
WINNIPEG, October 16 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Ottawa is set to announce Monday its plans to cut the small
business tax rate from 10.5 per cent to nine per cent. The
Liberals have faced backlash from across the country since the
tax changes were revealed during the summer. The agricultural
community has been vocal as the tax changes will affect
succession planning on farms across the country.
Oil markets jumped Monday to US$58.10 per barrel as unrest
in the Middle East increased. Iraqi forces entered the oil city
of Kirkuk, taking territory from Kurdish fighters and raising
concerns over exports from OPEC’s second-largest producer.
Two people have been seriously injured in Ireland as
tropical storm Ophelia made landfall. Overnight the storm was
downgraded from a hurricane. There are approximately 120,000
homes without power, with the storm is set to be the worst storm
in Ireland since Hurricane Debbie which killed 11 in 1961.
Ophelia is set to cause ‘impactful’ weather across western parts
of the United Kingdom.

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