National Newswatch

Shh! Was that the Liberal leadership race getting underway?

Aug 30 2023 — Joe Oliver — Anita Anand and Chrystia Freeland recently drew public attention to their contrasting personas and political positioning. Anand, now President of the Treasury Board, was ousted as Minister of National Defence, supposedly for advocating too strenuously to fund the cash-strapped military and for excessive self-promotion. Clearly undeterred, she was quick out of the gate of her […]

Will Trudeau’s government breach the David Dodge Rule?

Aug 28 2023 — Theophilos Argitis — The sharp escalation of global bond yields in recent weeks raises the prospect we may be in the middle of a structural shift to a world of permanently higher borrowing costs. If true, it would represent a fresh blow to Canadian government finances that only reinforces the need for much more careful budget management from […]

Will the Liberals adopt an unhinged Senate bill discouraging fossil fuel investment?

Jun 29 2023 — Joe Oliver — Sir John A. Macdonald called the Senate “a place of sober second thought,” which may have reflected his appreciation for at least occasional sobriety. But Bill S-243, the “Climate-Aligned Finance Act,” is the antithesis of thoughtful reconsideration. Its declared purpose is to regulate investment practices so as to reduce the risks both that financial institutions […]

Climate plan doubts could speed up Canada election timing

May 8 2023 — Theophilos Argitis — It would be an exaggeration to say that Canadian business and policymakers are teeming with confidence the country will hit its ambitious climate transition targets. In Ottawa and certainly among stakeholders, skeptics outnumber optimists. As Royal Bank of Canada said more politely in a report released on May 4: hitting our goals will “require greater […]

Navdeep Bains to join Rogers as chief corporate affairs officer

Apr 21 2023 — — Former federal industry minister Navdeep Bains is joining Rogers Communications Inc. as chief corporate affairs officer, the telecom company announced April 20, one of a number of executive and board level changes unveiled as Rogers moves to integrate the operations of newly acquired Shaw Communications Inc.

It’s time to double or triple bank deposit insurance

Apr 20 2023 — Joe Oliver — The recently averted international banking crisis renewed a call to increase government bank deposit insurance, even though Canada has a very sound banking system. We did not mirror the recent failures of Silicon Valley Bank (SVB) (US$209 billion in assets) and Signature Bank (US$110 billion), which spread to Switzerland with the collapse of Credit Suisse […]

Budget 2023: Chrystia Freeland desperately needs a ‘soft landing’ from sky-high inflation

Mar 27 2023 — Theophilos Argitis — Finance Minister Chrystia Freeland’s third budget since taking the job more than two years ago will easily be her most challenging. Since Freeland last updated Canadians on the nation’s finances in November, the economic outlook has deteriorated slightly, particularly the picture for next year. Interest rate hikes take some time to ripple through the economy, […]

The Trans Mountain financial fiasco just got worse

Mar 16 2023 — Joe Oliver — Late Friday afternoon, the traditional slot for bad news, Trans Mountain Corporation (TMC) announced its pipeline expansion costs have ballooned to an eye-watering $30.9 billion, 44 per cent more that its year-ago estimate of $21.4 billion, which was up from its previous guesstimate of $12.6 billion, which was more than quadruple its first pie-in-the-sky projection […]

The just transition is taking a slow boat to China

Feb 28 2023 — Joe Oliver — Most Western democracies, but especially Canada, passionately advocate climate policies that are weakening their collective ability to compete with an aggressive and antagonistic communist China. The green agenda helps China several ways: It saps the West’s economic prosperity and undermines its energy independence, while bolstering China’s economy and strengthening its national security, thereby advancing President […]

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