Alberta is aiming to regulate who can slap an Alberta whisky stamp on spirits produced in the province.

In tabling the bill Tuesday, it said it may be the first government in Canada to use artificial intelligence to help draft legislation.

Premier Danielle Smith said distillers told her government that they’re making high-quality whisky but face challenges differentiating their products from other Canadian whisky on the market.

“We think there’s an obvious solution to this challenge: define what Alberta whisky is and protect it in legislation,” the premier said.

She later tipped back a glass of the liquor with industry representatives.

Service Alberta Minister Dale Nally said the bill, if passed, would set out rules requiring whisky to be mashed, fermented, distilled, aged, proofed and bottled in the province to use the Alberta label.

It must source Alberta water, and at least two-thirds of grain used in making it must be grown in the province.

Alberta distillers could continue making other whisky products that don’t meet the label’s standards.

1:57
Alberta distillers, government blazing a new ‘whisky trail’

Nally said he doesn’t anticipate allowing AI to write legislation unfettered, but the government used it to analyze data and come up with the “building blocks” for writing this bill.

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“The final product is a combination of all the tools that we used at our disposal, including human eyes, as well as the AI program.”

Nally said branding Alberta whisky is about “building pride” in the product and helping boost its reputation on the world stage.

“Just like Kentucky is known for bourbon and Scotland is known for scotch, we want Alberta to be known for great whisky,” he said.

He added that he anticipates the proposed legislation to be a significant economic driver.

“Kentucky is a smaller jurisdiction than Alberta, and we have better whisky.”

The government says there are 45 distillers producing whisky in the province, most of which are small craft distillers.

Bryce Parsons, president of the Alberta Craft Distillers Association, called it a defining moment for the province and every craft distiller.

“We’re not just creating whisky. We’re building a circular economy here. Alberta’s growing grain distilled and aged here, driving tourism, supporting farmers and bringing communities together,” he said.

Provincial agency Alberta Gaming, Liquor and Cannabis would be responsible for enforcement and inspection to ensure manufacturers using the Alberta Whisky label are following the rules.

1:59
Alberta ‘Whisky Act’ excites provincial distillers

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A new study by the Calgary Food Bank shows 64 per cent of older Calgarians using the Food Bank are doing so for the first time.

The study points to the increased cost of living, limited savings and insufficient retirement income as the reasons a growing number of seniors are facing food insecurity.

The food bank says about 5 per cent of the people who use it are seniors and  that, historically, older adults experience some of the lowest levels of food insecurity in Canada.

However, data from the 2024-2025 fiscal year showed that seniors in Calgary were three times more likely to use the food bank, compared to the general population.

“In a lot of cases, these are folks who, for all intents and purposes, did everything right. They worked, they paid the mortgage, they raised their kids. Nobody planned for these levels of inflation in their retirement years,” said Melissa From, president and CEO of the Calgary Food Bank.

“So unfortunately, a lot these folks have gotten caught in the rising cost of housing and fuel and food and everything else.”

Other findings from the study include:

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• Seventy per cent of older adults surveyed expressed concerns about their ability to afford housing in the next 12 months
• Over half were worried about paying for utility and medical expenses
• One in six older adults reported living with a health condition or disability
• Forty-eight per cent said the health condition or disability was the main reason for their retirement.
• Sixty-one per cent of retirees reported having debts the need to pay
• Eighty per cent of adults who aren’t retired said the cannot financially afford to retire with 85 per cent of them saying they have no savings.

The results of study were obtained through 30 interviews and 736 responses from surveys of older adults.

The complete report is available on the Calgary Food Bank’s website.

2:00
Calgary Food Bank filling massive demand

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New cash Isa deals are arriving thick and fast as providers jostle to offer headline-grabbing rates ahead of tax-year end.

These deals are great when you want to open and top up an Isa with new contributions. But those looking to transfer funds from another provider should make sure they read the small print, because the best rates often only apply to newer deposits.

What’s more, some providers that have launched attractive rates in recent weeks don’t accept transfers at all, leaving switchers out in the cold.

Despite top deals often being restricted to new contributions, it’s still worth checking the interest rate that you’re receiving in an existing cash Isa.

If it’s below 4 per cent – which is easily achievable with current deals – transferring is straightforward and can make a big difference to your savings.

We analyse the best cash Isa rates for transfers below, including both easy-access and fixed-rate accounts.

Transferring takes just a small bit of admin, with the providers largely handling it for you

Top easy-access cash Isas for transfers

In recent years, easy-access cash Isa providers have been courting savers with attractive boosted interest rates on top of underlying variable rates.

The set bonus rate often lasts for a year and is usually only for new customers.

Some providers set restrictions around how much of your funds are eligible for the promotional rate. A few don’t accept transfers whatsoever, including Prosper, Tembo and Atom Bank.

And with boosted rates, you need to consider transferring again after the end of the bonus period, because the underlying rates aren’t always up to scratch. 

Isas have the advantage of being straightforward to transfer. But with some savers and investors amassing a small fortune within their accounts, offering the highest rates on both new contributions and transfers would prove costly for providers.

Moneybox: 4.27% on transfers but watch out for withdrawal penalties

The Moneybox cash Isa offers a good rate with no quirks around the process of actually transferring your Isa.

The 4.27 per cent rate includes a promotional 0.82 per cent boosted rate for 12 months, which applies to transfers too.

However your rate plummets to 0.75 per cent if you make more than three withdrawals in the year or when your balance drops below £500.

You should be sure you can meet the conditions for maintaining your rate if you plump for this option.

Moneybox also has a true open-access cash Isa with no withdrawal penalties, but this pays 4 per cent including a 0.75 per cent boost for 12 months.

Keep in mind that Moneybox doesn’t offer a flexible Isa, so if you withdraw then replace money it will reduce your Isa allowance.

> Find out more at Moneybox 

Hargreaves Lansdown*: ONLY if you haven’t maxed out this year’s allowance

The popular investing platform Hargreaves Lansdown has a cash Isa too. It works as a savings marketplace, with lots of different accounts available in one place.

This means you can switch between rates easily when better ones become available.

The top easy-access rate is 4.26 per cent offered through Vida Savings, matching the Moneybox rate. There’s no boosted rate to faff around with, but a curious quirk means you can’t transfer if you’ve maxed out this year’s allowance.

Hargreaves Lansdown doesn’t accept transfers directly to its cash Isa. Instead, you must transfer to its stocks and shares Isa first and then move uninvested cash to its cash Isa.

But you need to open the new cash Isa with at least £1 – so this isn’t possible if you’ve already maxed out your Isa elsewhere.

This is a true easy-access account with no restrictions on withdrawals, although it’s not a flexible Isa. This means your Isa allowance will reduce if you withdraw and replace money.

> Find out more at Hargreaves Lansdown* 

Plum*: 4.07% on transfers, 4.66% on new contributions

Plum made positive changes to its cash Isa last year after This is Money highlighted the issues bringing it down.

The provider will no longer penalise you by reducing your rate after three withdrawals.

It is paying 4.07 per cent on transfers including a bonus 1.53 per cent for a year. This is a fair amount less than the 4.66 per cent that new contributions will receive. Keep in mind that Plum’s Isa is not a flexible Isa. 

> Find out more at Plum*

Trading 212*: A solid but not table-topping rate on a good Isa

Big Plum rival Trading 212* is paying a high 4.68 per cent on current tax year contributions, including a 1.08 per cent boost for 12 months. But this will only help you if you switch cash paid in since last April. 

With the new tax year starting soon, the definition of ‘current’ tax year updates automatically and so the promotional rate soon won’t apply to many transfers.

Contributions from previous tax years earn the standard 3.6 per cent rate, which still beats most bank cash Isas and makes this a decent deal for transfers.

Trading 212 also applies no restrictions on withdrawing money and it’s a flexible Isa, so you can take out money and replace it in the same tax year without reducing your allowance.

Top fixed-rate cash Isas for transfers

Fixed-rate cash Isas provide the certainty of a set rate of interest for the length of the fix.

The good news is that you can find plenty of fixed-rate accounts that are friendly to switchers.

Vida Savings is offering a 1-year fixed-rate Isa at 4.37 per cent and accepts transfers.

For a 2-year fix, have a look at Furness BS, paying 4.45 per cent interest. 

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While the war in Iran has sent gasoline prices soaring around the world, there are growing concerns about how the spike in the cost of other fuels could also affect consumers and the broader economy.

In Canada, the average price of diesel has surged to nearly $2.30 per litre — more than 50 per cent higher than just three months ago.

“It’s unprecedented. We’ve never seen anything like this in the oil market or the refined products market and it’s getting worse,” said Calgary-based petroleum industry analyst Richard Masson.

“The tankers that left four weeks ago just before the war started are just starting to unload at their destinations,” he continued.

“It takes three to four weeks to get where they’re going, but over the last four weeks there have been no tankers leaving out of the Strait of Hormuz.

“So over the next few weeks, places that need those fuels aren’t going to be getting them.”

Masson said the refined products market is experiencing prices like $200 a barrel for diesel fuel.

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“And more than that, countries like China have banned exports of refined products. So there are places like California, that depend on refined products coming from China because they’ve had many refineries shut down, who are now scrambling to find replacements for their diesel, for their gasoline.

“The whole global market right now is totally upset, and people are still trying to understand what it all means.”

Small business owners in Alberta are also waiting to see what happens, depending on how long the war drags on.

“Well, the price is going to affect freight and delivery, for sure,” said Ernie Tsu of the Alberta Hospitality Association, who is also owner of the Trolley 5 Brewpub in Calgary.

“We haven’t seen it come down yet from the major suppliers. I’m sure it’s going to,” said Tsu, who admits restaurant menu prices will need to increase if freight and delivery charges increase.

However, Tsu said a lot of restaurants are working with local farmers in an effort to keep transportation costs down and still provide excellent products and that helps “massively.”

Masson said if diesel prices get too high, it could cause the entire supply chain to break down.

“There’s two parts to that. One is the price gets higher for transportation because of the diesel cost and so that gets transmitted through to prices,” said Masson.

“The other is people just can’t get hold of the product physically and so they stop shipping things and so the supply chains start to break down.

“I’m seeing more and more talk about supply chains breaking down like happened during COVID.”

While the members of the International Energy Agency recently agreed to release hundreds of millions of oil from their strategic emergency reserves in an effort to combat a possible shortage of Middle East oil, Masson said it may not help prevent a shortage of diesel, because it’s not the right kind of oil.

“The Middle East produces kind of a medium-sour crude, and that crude goes into refineries and makes a larger proportion of diesel and a smaller proportion of gasoline.

“When that crude goes missing, it affects the diesel supply more and this is the challenge because not all crude oil is the same.”

While much of the oil produced in Canada is suitable for making diesel, Masson said most of the recent increase in U.S. production is lighter oil obtained through fracking, and is not suitable for making diesel.

“We have this real problem where not only is there a smaller supply of crude, but it’s not the right kinds of crude in the right refineries to keep production of things like diesel going at the rate we need — and of course, the economy depends on diesel,” said Masson.

“So we we have to find a way to adjust our consumption and the way we do that is by price. So the higher the price goes, more people will stop using it and only the best uses will happen.

“This is what’s going to happen over the coming weeks as this (crisis) deepens.”

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If oil reaches $150 a barrel, it could trigger a global recession, the boss of the world’s largest asset manager has warned.

Blackrock chief executive Larry Fink said that if the Iran war keeps energy prices persistently high, it will have ‘profound implications’ for the world economy.

The closure of the Strait of Hormuz, which carries about one-fifth of the world’s gas and crude supply, has pushed Brent crude prices to their highest levels in nearly four years – at one point reaching nearly $120 a barrel.

Europe risks fuel shortages as soon as next month, according to Wael Sawan, the boss of Shell, with the global oil and gas squeeze already forcing parts of Asia to cut energy consumption – producing a ‘ripple effect’ that will spread west within a matter of days. 

Economists have warned that recession and stagflation –  the combination of higher inflation and unemployment, and stagnating growth – risks are rising because of the war. 

Fink said it was too early to determine the outcome of the conflict, but told the BBC there were two possible scenarios.

If the conflict ends soon, then oil prices could return to their pre-conflict level at around $70.

But If the war is drawn out, Fink says there could be ‘years of above $100, closer to $150 oil, which has profound implications in the economy’ and an outcome of ‘a probably stark and steep recession’. 

A plume of smoke and a fragment of concrete rise from the site of an Israeli airstrike on the eastern outskirts of Tyre, in southern Lebanon, on March 24

Rocket trails are seen in the sky above the Israeli coastal city of Netanya amid a fresh barrage of Iranian missile attacks on March 25

On Monday, Donald Trump said he had had ‘constructive’ talks with Iran, which brought Brent crude prices down 10 per cent to around $100. 

But the Iranian military has denied that a peace process is taking place, with a spokesman insisting that the US is ‘negotiating with itself’, adding: ‘Someone like us will never come to terms with someone like you.’

While Trump may want to de-escalate the conflict to stabilise energy prices, prices are still hovering at $100 as markets grow increasingly unconvinced the war will end soon. 

‘If there is a cessation of war, and yet Iran remains a threat, a threat to trade, a threat to the Strait of Hormuz, a threat to this peaceful coexistence of the GCC region, then I would argue that we could have years of above $100 closer to $150 oil which has profound implications in the economy,’ Fink said.

‘We will have global recession,’ he added, when asked if oil stays at $150 a barrel.

With fuel shortages looming, Sawan warned that European governments may need to urgently curb energy demand – a measure not taken since the 2022 crisis amid the Russian invasion of Ukraine. 

The conflict has caused wild swings in markets, as investors grapple with the ramifications for global supply chains. 

Last week, Deutsche Bank said: ‘Investors are increasingly pricing in a more protracted conflict that causes extensive economic damage’. 

The longer there is disruption to shipping routes and energy infrastructure across the region, the less likely the damage is temporary.  

Smoke and flames rise at the site of airstrikes on an oil depot in Tehran on March 7

Massive explosions over Tel Aviv as Iran launches surgical missile strike, February 28

Blackrock CEO Larry Fink has said rising oil prices will have global repercussions

The outlook hasn’t been helped by comments made by the International Energy Agency (IEA), which has called the conflict the ‘largest supply disruption in the history of the global oil market’. 

On Monday, Fatih Birol, the IEA’s executive director, said that hat the severe damage to at least 40 energy sites meant that even an end to the conflict would not immediately restore oil supply.

Rising oil and gas prices will soon start to filter through to household energy bills because the UK relies on imports. 

Fink said ‘Rising energy prices is a very regressive tax. It affects the poor more than the wealthy.’

Energy experts have called on the Government to allow the domestic production of oil and gas or risk further price shocks.

Fink said countries should not rely on one source of energy, and that if oil prices rise to $150 ‘you would have so many countries moving so rapidly towards solar and maybe even wind’.

He added: ‘Use what you have unquestionably, but also aggressively move towards alternative sources too.’

This is a developing story

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More than 350 people have signed up to speak Monday at what is expected to be another marathon public hearing on Calgary’s highly divisive, citywide rezoning issue, and that number could grow as the hearing gets underway.

The issue is back before council after it became a key point of debate in last fall’s municipal election, with many of the members of the new city council promising to repeal or reconsider the policy, which was approved by the last city council in 2024.

That approval came after a historically long public hearing with 736 people speaking to the issue, over 15 days. The majority of them opposed to blanket rezoning, which resulted in the city’s base residential zoning policy being changed to allow for more housing types on a single property, such as row houses and duplexes.

2:00
Public hearing on repealing citywide rezoning set to begin at Calgary city hall next week

The policy change was aimed at boosting the supply and affordability of housing in the city.

However, the new council voted in December, by a 13 to 2 margin, to kickstart the process of repealing the policy.

“Its not so much blanket rezoning yes or no,” Mayor Jeromy Farkas said ahead of the hearing. “[It’s] more that continuous debate over change, community character, how we continue to be able to build the needed housing in a way that the community feels involved in and respected.”

Shameer Gaidhar, chair of the Calgary Inner City Builders Association said the city needs row housing, but not everywhere. “There are location criteria that have involved community engagement, industry engagement, so if they are the appropriate places, why aren’t we approving them and moving those forth.”

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While those in favour say the policy say it is working, opponents say it is damaging the character of their neighbourhoods.

Along with the hundreds of speakers, council has also received nearly 2,400 written submissions on the issue.

The public hearing is scheduled to run 12 hours per day for the entire week and into next week if needed.

Other people who wish to speak will be allowed to register as long as the public hearing is still going on.

Farkas said that if the policy is changed, there needs to be a replacement strategy on how the city will continue to build the housing it needs.

1:48
Calgarians agree more affordable housing needed but divided on blanket rezoning

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The number of Isa millionaires has jumped substantially in the past three years, exclusive data from Rathbones for This is Money reveals.

At the start of the 2023/24 tax year, 5,070 people held Isa portfolios worth £1million or more, a Freedom of Information request to HMRC previously revealed.

But a new FOI by the wealth management firm for This is Money shows it is likely 17,600 investors will have hit the fabled Isa millionaire status by the end of this current tax year, which ends in two weeks’ time.

Data shows that 48,160 individuals had Isa holdings between £500,000 and £750,000 in 2023/24 and 1,210 were on the brink of Isa millionaire status, worth between £950,000 and £1million.

Now, new analysis by Rathbones suggests the number of Isa millionaires will have risen to 17,600 by April 2026 assuming 8 per cent annual investment growth and full use of the £20,000 Isa allowance each year.

Under higher return assumptions, the number could have grown further still.

The figures assume uninterrupted saving behaviour, with investors close to £1million gradually crossing the threshold over the three‑year period.

Savvy investors: A conservative estimate puts the number of Isa millionaires at 17,600 – but the figure could be far higher

Historically, the number of Isa millionaires has at least doubled every three years since 2016, and more than trebled during periods when MSCI World returns exceeded 15 per cent, Rathbones says. 

With global equities delivering annualised returns of 17.4 per cent since April 2023, conditions are similar to those previously associated with rapid growth in Isa millionaire numbers.

Angela Smith, senior investment director at Rathbones, said: ‘Our analysis of the data suggests the number of Isa millionaires is likely to have risen significantly over a relatively short period, even on modest assumptions.

‘This means many more investors are now benefiting from tax-free growth, income and dividends on seven-figure portfolios.

‘Our experience with clients shows that the not-so-secret ingredients behind building an Isa millionaire portfolio are patience, time, consistently using allowances, and avoiding interruptions to the power of compounding.’

Rathbones says that even if savers stopped contributing to their Isas altogether after April 2023, an 8 per cent annual return could still lift the number of Isa millionaires from 5,070 to around 7,100 by April 2024, nearly 9,510 by April 2025 and almost 13,100 by April 2026.

Under a more cautious assumption of 5 per cent annual investment returns, the number of Isa millionaires would still have risen to 12,300 by April 2026 if the allowance were fully used each year, or to 9,300 if no further contributions were made.

The growth reflects a powerful combination of investment growth, the long-term impact of compounding within a tax-free wrapper, and disciplined use of annual Isa allowances over many years.

However, investors should also factor in inflation when thinking about building seven-figure pots.

Angela Smith adds: ‘Even after investment gains, £1million is no longer what it used to be. To have the same £1million buying power as 20 years ago, investors today would need £1.7million.

‘Inflation steadily erodes purchasing power, which is why saving alone is rarely enough. 

‘Investing wisely – across assets such as shares and funds – can help deliver returns that outpace inflation and protect and grow wealth over the long term.’

Several investment platforms in recent months say the numbers of Isa millionaire customers has ballooned.

Investment platform AJ Bell revealed the number of millionaires who invest it has jumped 74 per cent in a year, while Interactive Investor saw a 79 per cent jump in Isa millionaires on its platform, rising from 1,607 one year ago to 2,869.

Isa millionaires have one thing in common: they all built their fortunes through stocks and shares Isas – 94 per cent of Isa millionaires are fully invested in stocks and shares while the remaining 6 per cent made their £1million fortune through a mix of stocks and shares and cash Isas.

Angela adds: ‘Many Isa millionaires didn’t sprint their way there – most started out with Personal Equity Plans (Peps) long before Isas existed.

‘They built good habits, avoided common pitfalls, and let time and discipline do the heavy lifting.

‘The not-so-secret ingredient to building a large Isa isn’t perfect timing or extraordinary risk-taking, but patience, time, and iron-clad discipline to keep investing and resist the temptation or tinker unnecessarily.’

Her tips to become an Isa millionaire? Start early, use pay rises as built-in boosts, don’t interrupt compounding, use as much of your limit as possible, invest early in the tax year and choosing investments that match your risk profile and goals.

Tips from Isa millionaires

This is Money has interviewed two Isa millionaires in the last year to hear of their blueprints for building an Isa worth £1million.

Lord Lee of Trafford, the UK’s first Isa millionaire and Ollie Price, who became an Isa millionaire at the age of 36 shared their tips and best advice for joining the £1million club.

1. Fully use your Isa allowance

The first step to becoming an Isa millionaire is maxing out your Isa every year.

This might be a struggle for most savers now that the Isa limit is £20,000, where it was raised to in 2017 from £15,240.

Figures from HMRC show that only 4 per cent of Isa savers max out their Isa. But those who are able to achieve this will be well on the road to becoming an Isa millionaire.

‘I’ve been investing since 1987’, said Lord Lee, ‘those who started early like me had an advantage.’

While Mr Perry says he used most of or all his full Isa allowance to invest every year for 11 years between 2013 and 2024.

2. Learn about investing and what you’re investing in

One thing Isa millionaires have in common is that they do their research and have conviction in the stocks they choose to invest in.

Mr Perry’s strategy was to focus on individual stock picking in industries he understood, backed by research which he says allowed him to spot high-potential opportunities.

He says: ‘Before you even start to put £10 in an Isa do some research about investments.

‘There’s a lot of value in understanding how stocks have performed, what inflation is and how it erodes the value of money.

While Lord Lee is a veteran stockpicker.

> Read more: Investing for beginners

3. Reinvest dividends

When it comes to generating long-term investment returns, compounding – through the automatic reinvesting of dividends – can be a powerful tool.

By reinvesting dividends, you reinvest the cash you would have been paid out as a dividend to buy extra shares in the company rather than receiving the dividend as cash to your bank account.

And that has been one of Lord Lee’s key tactics.

4. Be brave for market-beating growth

It’s unlikely that Isa savers with pots amounting to over £1million have been investing in index trackers over the years. Instead, they had some serious successes on the way and gains were locked-in, from individual shares.

For example, Lord Lee invested in Cerillion, a telecoms company, when it was first listed on the stock exchange in 2016.

Its share price on 18 March 2016 on its first day of dealing was 98p while today, it has risen to 1,190p.

While Mr Perry invested in tech-disruptor gambling company Betfair at the start of his investing journey in 2013.

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Last year, four million Nationwide customers received £100 each as part of the building society’s Fairer Share Payment initiative.

As Nationwide shares profits among members (rather than shareholders), the annual scheme has seen more than £1 billion issued as one-off loyalty ‘reward’ bonuses in the three years since its inception.

Whether it’ll return for 2026 likely won’t be confirmed until May. If it does, though, doing the groundwork now will ensure you’re in the best possible position to get hold of this welcome cash boost.

In the latest edition of his newsletter, Martin Lewis shared the Money Saving Expert (MSE) guide to maximise your chances for Nationwide’s ‘free’ £100.

Using Fairer Share eligibility from previous years, the site’s consumer finance gurus explain that qualifying ‘depended on whether you met the qualifying criteria in the first three months of the year.’

As such, it’s ‘likely your last chance to qualify’ — but existing customers and newbies alike can get everything in order with just a few simple (albeit slightly different) steps.

Existing Nationwide customers

Assuming the initiative comes with the same prerequisites as before, MSE says the first thing you need to do is keep any Nationwide current account(s) open until at least March 31, 2026.

Secondly, you have to use your current account during the first three months of the year, although what this entails depends on the type of account you hold:

• FlexAccount, FlexBasic, FlexDirect: Either receive £500 and make two payments out of your account, make at least 10 outgoing payments, or complete a full current account switch from another provider to Nationwide.
• FlexOne, FlexGraduate, FlexStudent: Either make at least one payment in or out of your account in March 2026, or complete a full current account switch to Nationwide FlexOne or FlexStudent (not FlexGraduate) by March 31, 2026.
• FlexPlus packaged account: No payments in or out are required here, but you need to keep up with your fees to be eligible.

The third and final step is to ensure you have at least £100 in savings or owe at least £100 on a mortgage with Nationwide in March 2026.

If you don’t have either of these products with the building society, MSE claims it might be a good idea to ‘stick £100 (or maybe £200 to be safe in case it changes its terms) into one of its savings accounts.’

New Nationwide customers

If you aren’t a member but want to put your hat in the ring for a potential Fairer Share bonus payout, you’ll need to switch your current account over to Nationwide by March 31, 2026, at the very latest.

According to MSE, the £175 bonus, 5% interest on up to £1,500 deposited, and up to £5 a month cashback on debit card spending for a year, offered when you sign up to a FlexDirect account, ‘makes it a good all-rounder.’

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Better still, though, ‘if Nationwide keeps the same eligibility criteria as previously, it’s easier to get the Fairer Share payment by switching than it is being an existing customer, as fewer rules apply.’

Keep in mind, you must use the official Current Account Switch Service (CASS) to qualify, which you’ll see as an option when applying. And since the process normally takes seven working days to go through, it’s better to do so earlier rather than later.

After you switch, MSE says you’ll also need to have at least £100 in a Nationwide savings account or at least £100 left on a Nationwide mortgage in March 2026.

Additionally, the site warns that previous bonuses have been treated as taxable savings income, and although this won’t affect most people, it may be an issue for higher-rate taxpayers or those with a substantial amount in non-ISA savings.

When will the Nationwide bonus be paid out?

If the mutual bank does decide to bring back Fairer Share Payments for 2026, the decision is usually announced after Nationwide’s full-year results are released in May.

Last time around, eligible members were contacted by May 31, with bonuses deposited into members’ accounts between June 18 and July 4, 2025 — and since the scheme has followed a similar timeline in previous years, the cash could very well be yours before summer.

That said, nothing is confirmed yet, so we’ll keep you posted with updates on this year’s initiative as and when they’re available.

Do you have a story to share?

Get in touch by emailing MetroLifestyleTeam@Metro.co.uk.

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A new report from the Canada Energy Regulator is projecting significant growth in electrical generation between now and 2050, in part due to new artificial intelligence data centres’ thirst for power.

The report by the federal agency offers four supply and demand scenarios for Canada’s oil, gas and electricity markets: current measures, higher, lower and net-zero.

In all cases, the report says electricity will play an increasingly important source of energy, with power generation growing by 30 per cent, at the low end, to more than double today’s production levels by the year 2050.

“To meet rising power demand in all the scenarios, we see surging wind power alongside a diverse mix of other less variable supply sources,” CER chief economist Darren Christie told reporters Tuesday.

In all scenarios, wind energy makes up the bulk of the power capacity additions, with about 50 to 150 more gigawatts feeding into the grid by 2050, compared to 2023 levels.

While the increased demand for energy will be, in part, driven by economic growth, the report said that forecasting the future demand from data centres – enormous structures that house the vast computing firepower needed for artificial intelligence and other tech applications – poses a challenge because they can be quite large and unpredictable, depending on development in the emerging industry.

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In the lower scenario, data centres are predicted to increase electricity demand by as little as 0.5 gigawatts (GW) by 2030, while under the higher scenario they are predicted to add up to 12 GW of electricity demand to the country’s power grid by 2050.

The report also forecasts that more than 96 per cent of new generation will come from “non or low emitting sources,” with wind energy expected to be “by far” the largest additional source of renewable energy.

They predictions don’t include changes to Ottawa’s electric vehicle program in February, including the scrapping of a mandate to have all new cars be electric by 2035.

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The war embroiling much of the Middle East in recent weeks was also not explicitly factored into the CER’s projections.

The conflict has cut off shipments of crude from the Persian Gulf through the strategically vital Strait of Hormuz, driving global prices up roughly 45 per cent from their pre-war levels.

While the report forecasts Canada’s crude oil production  to grow in the near-term, output is forecast to peak at different points in time and is tied to global oil prices.

Canada’s oil production was 5.5 million barrels a day in 2024.

Under the status quo scenario, production would reach 6.1 million barrels per day around 2040 and level off to 5.9 million barrels per day by 2050.

In a high scenario buoyed by strong prices, production would peak at 6.7 million barrels a day in 2044, while in the lower case, production would gradually decline to 5.2 million barrels a day by the year 2050.

Oilsands crude is expected to dominate in each circumstance, with production from conventional and offshore resources being the first to drop off.

Natural gas production is predicted to increase to between 21 and 32 billion cubic feet per day by 2050, compared to the 19 billion cubic feet per day produced in Canada in 2025.

However, much of the growth is being driven by projects that chill the natural gas into a liquid (LNG) so it can be shipped in specialized tanker overseas.

By 2050, the CER says about a quarter of total Canadian gas production will be tied to liquefied natural gas exports.

Greenhouse gas emissions fall in all of the CER’s scenarios, but plateau around 2035 under current policies.

“Reaching net zero by 2050 would require an economywide transformation towards low carbon technologies, driven by additional climate action,” the regulator added.

With files from Global News. 

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&copy 2026 The Canadian Press

Most Canadians are paying higher insurance premiums overall for their home and car, a new report by Rates.ca shows.

Three in four Canadians (75 per cent) say their insurance premiums, for all types of insurance, have gone up in the last two years, the Leger survey conducted for Rates.ca has found.

This figure refers to Canadians who have at least one insurance policy on a home, apartment, condo and/or vehicle.

Canadians over 35 — who are more likely to own a car and home —experienced a higher rate (78 per cent) compared to Canadians aged 18-34 (64 per cent).

Six out of 10 (63 per cent) insured Canadians said they took steps to lower insurance costs, including shopping around (40 per cent), asking for discounts (30 per cent), changing or removing parts of coverage (21 per cent), the report said.

Home insurance costs rose steadily from 2022 to 2025 across six Ontario cities —Toronto, Hamilton, Oshawa, Windsor, London and Ottawa — with the sharpest increases in 2024 before easing off in 2025, it added.

Aside from severe weather events, from fires to floods, home insurance costs were also impacted by construction costs going up because of U.S. President Donald Trump’s tariffs on Canada.

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A look at local data reveals that car insurance premiums have been rising rapidly, accounting for most household expenditure on insurance.

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Between 2022 and 2025, the average auto premium increased from $3,453 to $3,997 in Toronto, accounting for 70 per cent of all household insurance costs in Canada’s most populous city.

Across six major cities in Ontario, auto insurance consistently makes up the majority of the average household’s insurance cost burden, ranging from 60 per cent to 70 per cent of total premiums.

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This is, in part, because repair costs have risen sharply since 2022, owing to labour shortages and parts delays caused by supply chain disruptions.

“If insurance companies have to pay more money than anticipated … premiums will go up,” said Daniel Ivans, Rates.ca insurance expert and licensed insurance broker, who authored the report.

Every stage of a repair, including diagnostics, parts, and labour, costs more than it did just a few years ago, Ivans said.

“As incomes inflate, the cost of living, goods, parts, and labour inflate.  Insurance premiums have to match the cost of losses,” he added.

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The kind of car you buy can also determine your insurance premium, said Dan Park, CEO of Clutch Canada, a platform that facilitates the sale and purchase of pre-owned vehicles.

If a car is “fancier,” it is not only more likely to be a target for thieves, but also more likely to cost more to repair, Park said.

“We’ve had customers cancel purchases on CR-Vs and Civics specifically because their premiums spiked when they quoted a high-theft model,” he said.

“One customer saw their premium nearly double and walked away entirely.”

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