What to know about your finances amid market volatility
As tariff uncertainty roils the global stock markets, some Canadians are concerned about their investments. Financial counsellor Jessica Moorhouse joins Hanomansing Tonight to address some viewer concerns and questions.
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Global News
35 minutes ago
- Global News
Liberals won't split internal trade, major projects bill despite Bloc call
The Liberal government is rejecting a call from the Bloc Québécois to split its marquee legislation in two and allow part of it to speed through the House of Commons this summer. The bill — known as Bill C-5, or the free trade and labour mobility in Canada act —was introduced last Friday. It has two parts. The first portion addresses internal trade barriers the Liberals have promised to tackle by July 1. The second part proposes to make sweeping changes to speed up approvals of major projects. The Bloc argued the internal trade portion of the legislation could be passed relatively quickly with broad support from the House of Commons, but called for a separate study of the changes to major project reviews. 'The bill as it is now would be sent to the transport committee, whereas if it were to be split it could be sent to two different committees, the second one being environment,' Bloc deputy leader Christie Normandin said at a press conference on Monday. Story continues below advertisement Government House leader Steven MacKinnon said Wednesday the Liberals won't split the legislation, even if that would ensure the government meets its self-imposed deadline to tackle interprovincial trade barriers. 'This is a bill that responds to economic conditions caused by the tariff war, among other things, and mobilizes premiers, mobilizes Canadians from coast to coast to coast behind projects of national significance,' MacKinnon said on his way into a Liberal caucus meeting. 1:46 Can the Liberal government's trade bill unify Canada's economy? The legislation would give the federal government sweeping new powers to push forward projects that have been deemed to be in the national interest. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy It sets out five criteria to determine if a project is the national interest, including its likelihood of success, whether it would strengthen the country's resiliency and advance the interests of Indigenous peoples, and whether it would contribute to economic growth in an environmentally responsible way. Story continues below advertisement The government intends to create a list of such projects and then fast-track the approval system with a goal of issuing approvals within two years, instead of the current five-year timeline. The bill would create a new federal office to take the lead on streamlining approvals and task the intergovernmental affairs minister with overseeing the final permitting decision. It's meant to send a signal to build investor confidence, the government said. The proposed legislation has been criticized already by groups like Greenpeace Canada, and some have warned that there are risks in trying to shortcut environmental interests. 4:58 Carney looking to pass legislation 'before summer' to remove trade barriers in Canada The minority Liberal government needs the support of at least four MPs from another party to pass the bill. It does not have a formal or informal agreement with any opposition party to pass legislation, as was the case with the NDP in the last Parliament. Story continues below advertisement Conservative Leader Pierre Poilievre has said his party will support legislation that gets new projects built — but he also said he wants the current bill amended to go even further. On Friday, Poilievre said he wanted to meet with his caucus before saying whether Conservative MPs will vote in favour of the legislation. After Wednesday's caucus meeting, his office said there was no update to provide. Prime Minister Mark Carney suggested last week he would consider extending the House sitting into July to get the legislation passed. The House of Commons is scheduled to take a summer break beginning June 21. MacKinnon said Wednesday that he has not tried to get consensus from the other parties to extend the sitting.
Ottawa Citizen
an hour ago
- Ottawa Citizen
Michael Sabia named new clerk of the Privy Council
Michael Sabia will become the next clerk of the Privy Council in a shake up in the public service's highest office. Article content On July 7, Sabia will replace John Hannaford, who has served in the role since 2023. Article content Article content The incoming clerk brings with him a background in both major projects and public finance. Sabia is leaving his position as chief executive officer for Hydro Québec where he oversaw plans for major projects to expand energy production in the province from 2020 to 2023. Article content Article content The fast-tracked development of big infrastructure projects remains a central priority for Prime Minister Mark Carney's government. Article content Article content Sabia also carries an intimate experience with public finances, having served as the deputy minister for the Department of Finance from 2020 until 2023. Article content 'As Canada's new government builds the strongest economy in the G7, Mr. Sabia's leadership will be key to this mission,' the Prime Minister Office said in a statement. 'Canada's exemplary public service – with Mr. Sabia at the helm – will advance nation-building projects, catalyze enormous private investment to drive growth, and deliver the change Canadians want and deserve.' Article content The incoming clerk also served as the president and CEO of Québec's public pension fund manager Caisse de Dépôt et placement du Québec and the director of the Munk School of Global Affairs and Public Policy. Article content Article content In a news release, the Prime Minister's Office thanked Hannaford for his service and congratulated him on his upcoming retirement. Article content Article content Hannaford joined the federal public service in 1995, and as clerk, looked to lead an overhaul of ethics and values within the public service. Article content 'Our public service values and ethics are our compass to guide us through times of change,' he said in a statement when launching the initiative. Article content 'As head of the public service, I am committed to fostering a renewed conversation on values and ethics that will support the effective management and renewal of our public service over the years to come.' Article content The change inside the clerk's office came within a month of Carney's cabinet swearing-in ceremony in May. Article content
Global News
an hour ago
- Global News
City of Vancouver expands contract with U.S. e-scooter company
There are now more e-scooters available for rent in downtown Vancouver, however, a local company is questioning why the contract was awarded to a U.S. company. Lime, a U.S.-based company, in partnership with the City of Vancouver, added 28 new scooter parking stations in the downtown area, which brings the number of stations around the town to 98. There are 525 scooters available for rent. Stewart Lyons, CEO of rival scooter company, Bird, questions why city hall chose to partner with Lime instead of his all-Canadian company. 'There was a lot of, you know, a little bit of big talk when the whole buy Canada kind of elbows up conversation started,' Stewart Lyons, Bird CEO said. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'But it didn't really continue that for that long or that far. And that's disappointing to us. I mean, we really have to start supporting our own.' Story continues below advertisement Lyons added that if Canadians want companies to stay in Canada, they have to step up and show their support. 1:35 'Buy Canadian' city scooter challenge Vancouver Coun. Sarah Kirby-Yung said they are willing to consider other options. 'When that contract comes up we would of course continue to open it up and to look at options, including Canadian suppliers, but we also need to balance that with ensuring that we get the safety and the reliability that Vancouverites deserve,' she said. Lime says more than 11,000 riders have used its service since it launched in Vancouver last September.
