Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally.
- Thousands of United Kingdom farmers protested in London Tuesday, demonstrating against proposed law changes to inheritance taxes. If implemented, the Labour Party law would make inheritance tax payable on farms worth more than 1 million pounds. Farms are currently exempt from the tax. Farmers protesting say the legislation would destroy family farms and create risk to the food supply.
- A ‘bomb cyclone’ hit southwest British Columbia overnight, leaving thousands without power on Vancouver Island after wind gusts as high as 160km/h caused damage. Travel advisories are in place, with many ferry routes cancelled.
- State elections underway in two Indian states are seen as a test of Prime Minister Narendra Modi’s national party. Maharashtra is India’s wealthiest state and home to Mumbai. It is currently governed by Modi’s nationalist BJP party.
