logo
Mark Carney's early moves are making the Conservatives look like waterboys

Mark Carney's early moves are making the Conservatives look like waterboys

Globe and Mail20 hours ago

Ever since the election, the Conservative Party has been giving off strong 'loser energy' vibes.
It's not simply that the party failed to form government, or even that Conservative Leader Pierre Poilievre lost his own seat (though it certainly doesn't help that he's forced to press his nose up against the House's stained glass windows). It's more so the air of flailing insecurity: selecting one of the safest Conservative seats in the country for Mr. Poilievre to run in a by-election; appointing a shadow cabinet of a whopping 74 MPs to keep caucus content, and thus less likely to call for the Leader's head; calling for 'severe limits' on population growth but running away when asked to elaborate.
It seems like the Conservatives, humbled and humiliated, have no idea what to do with themselves now.
Robyn Urback: Mark Carney is making himself the moonshot Prime Minister – for better or for worse
What's worse for the party is that Mark Carney is making big moves on many of the files on which the Conservatives have long demanded action. Last week, the Carney government tabled its 'One Canadian Economy' bill that provides a framework for fast-tracking major infrastructure projects that promises to 'substantially reduce the burden of federal rules that apply to trade across provincial and territorial borders.' The bill alone does not eliminate interprovincial trade barriers by July 1, as Mr. Carney promised, but even Mr. Poilievre acknowledged it is a 'small step,' before insisting that the government must go even further.
Then the Carney government tabled a border bill that, among other things, significantly narrows the window during which refugees are eligible to claim asylum in Canada and allows the government to cancel the processing of immigration applications en masse in certain circumstances. It's precisely the type of bill that the Conservatives would have introduced had they won a plurality of seats in April, instead of the Liberals. On that one, Mr. Poilievre didn't muster much of a response at all.
This week, Mr. Carney announced that he was accelerating his government's plan to reach NATO's target of spending 2 per cent of GDP on defence, promising that Canada will reach the target this fiscal year – five years earlier than planned. He said the government would move ahead with purchasing new equipment such as submarines and icebreakers, but added that much of the new spending will be in operational expenses, for a bigger, better-funded military. Mr. Poilievre, who promised during the campaign that his government would reach NATO's spending target by 2030, had no choice but to offer his support for the plan. What else could he say? That he didn't like the look of Mr. Carney's tie during the announcement?
There will certainly be more talk about dumping Mr. Poilievre as Leader, particularly if the party's numbers continue to tank post-election (the latest Nanos poll has the Liberals 10 points ahead of the Conservatives). And while Mr. Poilievre shoulders much of the blame for his party's loss, its current predicament is just as much, or perhaps even more, about actions by the Prime Minister as it is about the Conservative Leader.
Mr. Carney, unlike his predecessor, is actually making big moves on major files, and unfortunately for the Conservatives' narrow political interests, many of those moves happen to come from their own playbook. That necessarily makes the Conservatives look like waterboys, trying to sheepishly call out suggestions to the quarterback. Sometimes the party will have something important and substantial to oppose, such as the new powers of surveillance granted to authorities that the Liberals have embedded in their border-security bill. But it's hard to get anyone to pay attention to guys handing out cups of Gatorade on the bench while the actual players are on the field.
The Conservatives are in a tough spot right now, and that would likely be the case with anyone at the helm. But there are ways for the Conservatives to tamp down on their 'loser energy.' They can, for example, give the government genuine credit where it is due, as many Canadians who didn't vote for Mr. Carney already seem to be doing. That would make them look like grown-ups – actual players – instead of sore losers trained to reflexively oppose. They can resist the urge to fall back on lazy talking points about Liberal waste and instead focus on a few narrow but important issues specific to the Carney government. And they can continue to talk about big ideas, so long as they actually stick around to explain them.
But regardless of how the party navigates the next few months, it seems likely that the Conservatives will be a largely peripheral political force for the next little while. That's the problem with having a quarterback who actually marches downfield: no one pays attention to who is sitting on the bench.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Construction of Gordie Howe International Bridge 95 per cent complete
Construction of Gordie Howe International Bridge 95 per cent complete

CTV News

time32 minutes ago

  • CTV News

Construction of Gordie Howe International Bridge 95 per cent complete

An aerial view of the bridge deck of the Gordie Howe International Bridge with the Detroit River below. June 2025. (Photo: The Gordie Howe International Bridge project) Construction of the $6.4 billion Gordie Howe International Bridge is now 95 per cent complete. Chief Relations Officer for the Windsor-Detroit Bridge Authority, Heather Grondin, said they estimate they have about five per cent of their construction left to do. 'Still some work going on the bridge deck, the buildings are constructed but now we're focused on the interior of the buildings, a lot of paving, these are major areas where traffic is moving so a lot of paving is going on,' she said. The Windsor-Detroit Bridge Authority is managing the project for the Government of Canada. The six-lane bridge will link a key commercial trucking trade route between Windsor and Detroit, connecting Highway 401 and Michigan's I-75. Grondin was the keynote speaker at the Tourism Windsor-Essex-Pelee Island annual general meeting. Heather Grondin Heather Grondin, Chief Relations Officer for the Windsor-Detroit Bridge Authority, speaks during the Tourism Windsor-Essex-Pelee Island annual general meeting at Caesars Windsor. June 12, 2025. (Photo: Rusty Thomson) She said they're still aiming to open this fall but could not provide an exact date at this time. 'We really do have to see the progress that we're able to make on the construction and operational side of things over the rest of the summer,' said Grondin. 'Throughout all of this, as we've always done, safety is our number one priority for our workers. So not doing anything that would compromise that and then also ensuring we're building to the quality we've committed to.' As part of the progress, the crane that was located on the top of the tower on the Canadian side of the crossing was also recently removed. It will take several months to test and ensure all the critical systems are fully operational, including the electrical, drainage, and fire suppression systems along the bridge deck, the lighting system along the entire span, along with operational elements like traffic management, customs information, and connectivity systems. The toll price for the bridge will be announced closer to the opening date. Work on the crossing began in 2018. - Written by Rusty Thomson/AM800 News.

AVGO vs CSCO: Which Enterprise Security Software Stock Has an Edge?
AVGO vs CSCO: Which Enterprise Security Software Stock Has an Edge?

Globe and Mail

time41 minutes ago

  • Globe and Mail

AVGO vs CSCO: Which Enterprise Security Software Stock Has an Edge?

Broadcom AVGO and Cisco Systems CSCO are key providers of security software solutions for enterprises. AVGO offers Endpoint Security (Symantec and Carbon Black), Network Security, Information Security, Application Security (Carbon Black) and Identity Security solutions. Meanwhile, CSCO offers Network Security, Identity and Access Management, Secure Access Service Edge and Threat Intelligence, Detection and Response offerings. According to Gartner's latest data, enterprise spending on cybersecurity software and network security will grow 14% in 2025 to $118.5 billion, driven by strong demand for Generative AI (Gen AI) and cloud adoption. IDC expects global cybersecurity spending to grow 12.2% year over year in 2025, driven by increasing complexity and frequency of cyberattacks due to growing deployment of Gen AI and AI, with spending on security software to grow 14.4% year over year. The bullish projections offer significant growth opportunities for both Broadcom and Cisco. Both companies are benefiting from strong demand for AI infrastructure, data center build-outs and an increasing threat landscape. Shares of Broadcom and Cisco have appreciated 10.3% and 9.8% year to date. AVGO and CSCO Stock's Performance So, Broadcom or Cisco, which is leading the charge? Let's find out. AVGO Rides on Strong Infrastructure Portfolio Broadcom's security offerings are a part of its broader Infrastructure Software solution that accounted for 44% of revenues in the second quarter of fiscal 2025. Infrastructure software revenues jumped 25% year over year to $6.6 billion, bolstered by the successful conversion of enterprise customers to the full VMware Cloud Foundation (VCF) software stack subscription. AVGO expects infrastructure software revenues to be approximately $6.7 billion, up 16% year over year, in the third quarter of fiscal 2025. Broadcom's focus on delivering AI-powered, proactive security to stay ahead of evolving cyber threats has been noteworthy. In March, AVGO introduced updates to VMware vDefend, improving security planning, lifecycle management, and scalability for VCF with new tools like the Security Segmentation Assessment and Report, optimized micro-segmentation, and advanced Network Detection and Response, all aimed at improving threat prevention and operational efficiency. In April, Broadcom introduced Incident Prediction, which extends the security feature of Adaptive Protection, a unique capability of Symantec Endpoint Security Complete (SES-C). Apart from Infrastructure solutions, strong demand for Broadcom's application-specific integrated chips (ASICs), designed to support AI and machine learning and make these tasks more efficient, aids top-line growth. Custom AI accelerators (XPUs), which are a type of ASICs, are necessary to train Gen AI models, and they require complex integration of compute, memory, and I/O capabilities to achieve the necessary performance at lower power consumption and cost. CSCO Benefits From Strong Security Demand, AI Push Cisco's aggressive AI push and growing security dominance, as reflected by the third-quarter fiscal 2025 results, are noteworthy. Security revenues jumped 54% year over year, while orders grew in high double digits and included a large multiyear deal with a major financial services company for Splunk's security and observability platforms. Cisco's strategy of infusing AI across Security and Collaboration platforms and developing Agentic capabilities across the portfolio is a key catalyst. Cisco's security business is benefiting from strong demand for both Cisco Secure Access, Hypershield and XDR. On a combined basis, these solutions added more than 370 customers in the fiscal third quarter. The acquisition of Snap Attack enhances Splunk's capability. Moreover, Cisco Secure AI Factory with NVIDIA is founded on the NVIDIA Spectrum-X Ethernet networking platform. Security is at the core of the solution and helps enterprises simplify, deploy, manage and secure AI infrastructure at any scale. Cisco AI Defense and hybrid mesh firewall enable enterprise customers to build and secure data centers to develop and run AI workloads. AVGO's and CSCO's Earnings Estimate Revision Positive The Zacks Consensus Estimate for AVGO's fiscal 2025 earnings is pegged at $6.63 per share, up by a penny over the past 30 days, indicating a 36.14% increase over fiscal 2024's reported figure. The consensus mark for Cisco's fiscal 2025 earnings has increased by 1.6% to $3.79 per share over the past 30 days, suggesting 1.61% growth over fiscal 2024. Both AVGO's and CSCO's earnings beat the Zacks Consensus Estimate in all the trailing four quarters. Cisco's average surprise of 3.94% is slightly better than AVGO's surprise of 3.2%, reflecting a good quality of earnings beat on a consistent basis. Valuation: CSCO is Cheaper Than AVGO Both Cisco and Broadcom are overvalued, as suggested by the Value Score of D. However, in terms of forward 12-month Price/Sales, Broadcom shares are trading at 17.48X, significantly higher than Cisco's 4.38X. CSCO and AVGO Valuation AVGO Leads the Race on Stronger AI Push Broadcom's expanding AI portfolio, along with a rich partner base, including NVIDIA, Arista Networks, Alphabet, Dell Technologies, Meta Platform, Juniper and Supermicro, is a key catalyst. AVGO expects third-quarter fiscal 2025 AI revenues to jump 60% year over year to $5.1 billion on these factors. Cisco is not far off in terms of its AI push. The company is expanding its AI portfolio for data centers with new solutions like the Unified Nexus Dashboard, Cisco Intelligent Packet Flow, configurable AI PODs and 400G bidirectional optics. However, Broadcom is slightly ahead due to strong demand for XPUs by hyperscalers. Cisco also faces a tough competitive environment in its core networking market compared with Broadcom. Both Broadcom and Cisco currently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO): Free Stock Analysis Report Broadcom Inc. (AVGO): Free Stock Analysis Report

Chaudhary: Canada is right to invite Modi to the G7
Chaudhary: Canada is right to invite Modi to the G7

Ottawa Citizen

timean hour ago

  • Ottawa Citizen

Chaudhary: Canada is right to invite Modi to the G7

As a proud Canadian who has lived and worked in Ottawa for many years, I have witnessed first-hand how this city — and our country — can serve as a bridge between nations. Ottawa, as our capital, is not just the seat of government, it is where diplomacy takes root and relationships between Canada and the world are nurtured. Article content It is heartening, then, to see recent steps toward a renewal of Canada–India relations. The invitation extended by Prime Minister Mark Carney to Indian Prime Minister Narendra Modi to attend the G7 Summit in Alberta is a meaningful gesture, signalling a desire to re-engage and move forward. This renewed spirit of dialogue offers an opportunity to build stronger economic, cultural and strategic ties between our two great democracies — and to align our relationship with the realities of today's global landscape. Article content Article content Article content A timely reset in relations Article content There is no need to dwell on the events of the past two years. Those who care deeply about the Canada–India relationship, as many Canadians do, understand that the national interest is best served by looking forward, not backward. There are serious tensions between the two countries, yes, but both are capable of addressing them while striving for a strengthened relationship. Article content India's place on the world stage continues to rise. It is now the world's fifth-largest economy, a key player in global manufacturing and technology, and an influential voice in international affairs. At the same time, Canada remains one of the world's most open, innovative and resource-rich democracies — with deep commitments to global engagement and inclusive growth. Article content There is much that unites us: shared democratic values, a respect for diversity, strong rule of law, and a common interest in promoting peace and prosperity in an increasingly complex geopolitical environment. Article content Article content Trade and investment are natural pillars of any renewed partnership. India's vast and growing market, with a middle class projected to exceed 500 million people in the coming years, presents major opportunities for Canadian businesses across sectors. From clean energy and critical minerals to agri-food, technology and education, Canada has much to offer and much to gain. Article content In Ottawa and across the National Capital Region, where there are approximately 40,000 Canadians of Indian heritage, many firms are well positioned to contribute to this economic engagement. Our technology sector is world-class. Our universities and research institutions are centres of excellence. Our energy and natural resource companies are leaders in sustainability. There is enormous potential for collaboration in areas such as digital transformation, clean technologies, life sciences and advanced manufacturing.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store