Here is a roundup of stories from The Canadian Press designed to bring you up to speed…
Unspecified number of Liberal MPs set to confront Trudeau, ask him to step down
Prime Minister Justin Trudeau will face down his own caucus members in a hotly anticipated meeting this morning, as several of them plan to try to convince him to step aside. Rumours have circulated for weeks about an undisclosed number of Liberal MPs who have signed on to the effort to oust the prime minister in the hopes of improving the party’s chances in the next election. Trudeau’s personal poll numbers plummeted more than a year ago, and successive byelection losses have compounded concerns about his leadership. The MPs have no formal mechanism to depose Trudeau as leader, which means the decision is ultimately up to him.
Bank of Canada interest rate decision coming today
The Bank of Canada is set to make its latest interest rate decision this morning. The central bank has lowered its key policy interest rate three times so far this year to bring it to 4.25 per cent. Most observers are expecting a half-percentage-point cut, but some expect the central bank to stick with a more measured quarter-point cut. Statistics Canada reported last week that the annual inflation rate fell to 1.6 per cent in September, dropping below the Bank of Canada’s target of two per cent.
Here’s what else we’re watching…
Furstenau to speak, B.C. minority government looms
Green Leader Sonia Furstenau is set to meet the media for the first time since British Columbia’s indecisive election on Saturday, amid speculation about a possible minority government. The Greens announced Tuesday that Furstenau is staying on as leader despite losing her seat in the legislature, saying she was “instrumental” in B.C.’s 2017 minority government and her guidance of the party’s new caucus will be “critical.” Initial vote counting shows neither the NDP nor the B.C. Conservatives won enough seats to form majority, and the result will hinge on manual recounts in two ridings and a final tally of absentee and mail-in votes that are all set to begin on Saturday.
Most Canadians unaware of political gridlock: poll
A new poll suggests most Canadians are not even aware that a debate has ground parliamentary work to a halt for more than three weeks. Fifty-five per cent of people who took a survey from Leger last weekend say they haven’t heard about the issue that has gridlocked the House of Commons for more than 12 sitting days. It all stems from a Conservative privilege motion, which calls on the Liberals to give Parliament unredacted documents related to a green technology fund that misspent government money. The poll suggests that an equal number of Canadians think the Liberals and Conservatives bear responsibility for this gridlock — at 27 per cent each.
Oil removal work begins on ‘fragile’ Second World War-era wreck in coastal B.C.
An oil salvage operation is underway on the fragile wreckage of a U.S. Army transport ship that sank almost 80 years ago off coastal British Columbia. The Canadian Coast Guard says as much as 27,000 litres of oil still remains within the old Second World War-era M.G. Zalinski as it sits 40 metres below the surface in B.C.’s northern inside passage. Coast guard spokesman Jeff Brady says a possible spill is imminent because of the fragile and deteriorating state of the ship, which sank in 1946. Brady said the oil removal work is urgent, because of the deteriorating state of the ship, but also because of the possible danger to the marine mammals, aquaculture and migratory birds in the area.
Life insurance climate progress slow: report
A new report shows the patchwork of progress at Canada’s big life insurers in their efforts to address climate change, and reduce their more than $90 billion in fossil fuel investments. The report from Investors for Paris Compliance (I4PC) argues that progress so far is slow at Sun Life Financial Inc., Manulife Financial Corp. and Great-West Lifeco, even as they do make more commitments and disclosures. It also gives some indication as to the complexity of the undertaking as the insurers, which collectively manage some $3.7 trillion in assets, have to implement policies and targets across a range of subsidiaries with varying business models and priorities.
This report by The Canadian Press was first published Oct. 23, 2024.
