Day One | January 8th 2024
Ottawa
Top Story
Government of Canada Approves HSBC Sale to RBC
The Canadian government approved Royal Bank of Canada's $13.5 billion acquisition of HSBC Canada, with conditions such as maintaining job protections and financing for affordable housing.?Despite objections, this landmark deal, RBC's largest, aims to expand its domestic reach through HSBC's assets and customer base. RBC plans to finalize the acquisition in early 2024, integrating HSBC clients and employees into its systems. The move has faced opposition over concerns about mortgage rate influence, increased borrower costs, and RBC's fossil fuel investment policies. However, RBC sees this as an opportunity to grow, leveraging HSBC's branches and approximately 800,000 customers, primarily located in Toronto and Vancouver.
What You Need to Know
Half of Canadians Seek Federal Election Within Next Calendar Year
According to a poll conducted by Nanos Research, almost half of Canadians prefer an early federal election before 2025, with 46% of those polled favoring it within the 2024 calendar year. Presently, an agreement is set to keep Prime Minister Justin Trudeau in power until June 2025. Only 33% prefer waiting until 2025, and 17% have no specific preference. Differences in preferences were noted based on gender and age. Additionally, a Conservative-backed petition for an early election received significant signatures but doesn't bind the government to act. Despite this, Trudeau intends to lead the Liberals in the upcoming election.
Federal Government Announces $1.68 Billion Investment in Canadian Army
Public Services and Procurement Canada has allocated $1.68 billion?in contracts to General Dynamics Mission Systems–Canada for the LC4ISR system, bolstering the Canadian Army's real-time decision-making abilities. This technology integrates various elements like computers and sensors, enabling effective Command and Control decisions and enhancing communication for defense vehicles and individual soldier equipment. The initiative aligns with Canada's Industrial and Technological Benefits Policy, generating around 2,400 skilled jobs annually and contributing nearly $260 million yearly to the country's gross domestic product.
Government of Canada Signs $1.06 Billion Healthcare Agreement with Alberta
The Canadian government, in partnership with Alberta, is investing over $1 billion to improve healthcare access. This funding aims to increase access to primary care providers, reduce wait times for mental health services, and enhance access to health data. The three-year action plan includes expanding team-based and virtual care, improving diagnostic imaging capacity, and enhancing digital health services. Additionally, there's a focus on youth mental health, Indigenous community support, and better healthcare access for underserved populations, including rural communities and Indigenous peoples.
Announcement Made for New Chair to RCMP’s Management Advisory Board
McGill Law Professor Angela Campbell?is the newly appointed Chairperson of the RCMP's Management Advisory Board, announced by Minister Dominic LeBlanc. Her appointment highlights the crucial role the board plays in guiding the RCMP's management and enhancing transparency and accountability. Campbell's legal expertise will aid in steering the RCMP toward a more accountable, inclusive, and community-oriented policing approach, aligning with ongoing efforts for organizational improvement.
Federal Government Seeks Feedback on Federal Plastics Registry
The Canadian Government, through Minister Steven Guilbeault has initiated a consultation on the Federal Plastics Registry, a crucial step in their comprehensive plan to curb plastic pollution. This registry aims to track plastic from production to its end-of-life stage, requiring producers to report annually on their plastic placed in the Canadian market. The data collected will inform progress toward zero plastic waste and facilitate the transition to a circular economy. The consultation, open until February 13, 2024, invites input from Canadians and stakeholders.
Must Read Articles
Alberta
Top Story
Alberta Medical Association calls for updates to doctor incentives to help address hospital crisis
The Alberta Medical Association (AMA) president, Dr. Paul Parks, has urged the government to update incentives to retain hospital physicians, pointing out that incentives within the funding deal signed in 2022 haven't been updated for 10 years or more.?Parks emphasized the urgency, stating that the funding system needs to be competitive to recruit and retain physicians. The AMA proposed five measures to address the acute care crisis and contends that adopting their proposals could significantly improve various aspects of healthcare, including ER wait times and patient outcomes. ? The call for action comes after Premier Danielle Smith announced a $200 million infusion to support struggling primary care and rural doctors in Alberta. The funding, split into $100 million in early 2024 and another $100 million later, aims to address challenges faced by primary care practices and hospitals. In a year-end interview with Postmedia, Alberta Premier Danielle Smith expressed her expectation of significant and swift results from the ongoing health-care overhaul.
What You Need to Know
Alberta, which experienced strong economic growth in 2023, is projected to see a slowdown in 2024, with its GDP growth dropping from 2.6% to 1.2%, according to a report by Deloitte Canada. Factors contributing to the moderation include inflation and elevated interest rates impacting household finances. Despite the slowdown, Alberta is expected to remain near the top of Canadian provinces in terms of economic growth, with the completion of the Trans Mountain pipeline expansion and anticipated easing of monetary policy providing "robust tailwinds" for growth in the latter part of the year.
Manitoba is temporarily suspending its gas tax, providing motorists with savings of 14 cents per liter for the next six months, aiming to assist with inflation-related challenges. At the same time, Alberta reintroduced the gas tax, which was paused nearly two years ago. On January 1, motorists in Alberta started paying a tax of nine cents per liter, a rate lower than the pre-pause 13 cents, with potential adjustments in future dependent upon the average price of oil. Ontario is extending its break on the gas tax until June, maintaining the rate at nine cents per liter.
Municipalities are urging the province to allocate more funds under the new Local Government Fiscal Framework (LGFF), which will replace the Municipal Sustainability Initiative (MSI) beginning in 2024. In response, it has been argued that per-capita funding through the LGFF is insufficient to support critical infrastructure needed for growth and is less than they received through the MSI – while others have expressed concerns about reduced capital dollars but hope for potential offsets through other provincial grants. ABMunis stated that there is a $1-billion shortfall in funding, highlighting a $30-billion infrastructure deficit over the past decade. The Ministry of Municipal Affairs asserts that most municipalities will see an increase in funding in 2025 under the LGFF, and that top-up funding will be available this year to prevent a decrease compared to 2023.
In 2023, Edmonton witnessed a 44% increase in emergency medical services (EMS) responses to opioid-related events, totaling 5,048 incidents compared to 3,503 in 2022. Edmonton now has the highest number of opioid-related responses among Alberta cities, surpassing Calgary's 2,965 incidents. The rising opioid crisis prompted a statement from the office of the Minister of Mental Health and Addictions, emphasizing the province's commitment to addressing the addiction crisis, highlighting same-day treatment through the Virtual Opioid Dependency Program and the addition of over 10,000 publicly funded treatment spaces since 2019.
Calgary and other parts of Alberta are experiencing one of the warmest and driest winters on record, with December temperatures approximately 7°C above average. December precipitation levels in Calgary were slightly above average, but the warm and dry conditions have raised concerns about water supply and fire risk for the upcoming spring and summer. With severe and exceptional drought conditions persisting across much of south and central Alberta, water restrictions are likely in Calgary, while Alberta Wildfire officials are preparing for another busy season with the potential for significant wildfire activity due to dry fuels, hot temperatures, and strong winds.
Alberta's Minister of Tourism and Sport, Joseph Schow, is skeptical regarding the proposed Calgary-Banff rail link. Schow expressed doubt about the concept, even as others see potential benefits for tourism and the economy. The Minister's reservations highlight ongoing debates surrounding the project, with some emphasizing the need for more trains in the region, while others, including Schow, remain unconvinced about its feasibility.
Must Read Articles
Atlantic Canada
Top Story
Hospitals throughout Atlantic Canada ‘bursting at the seams’
Hospital resources are stretched to their limits across the region.?All P.E.I. emergency departments are experiencing longer than usual wait times?and there are?growing concerns over ER capacity in N.B., while?emergency room shutdowns and overcrowding are causing concern among N.L. residents. The Nova Scotia Nurses Union reporting a?near-double increase in patients seeking care?over the holidays, exacerbated by rising flu and COVID-19 cases. With many acute care centres at more than 100 per cent occupancy, health care workers are frustrated with working conditions, and patients are speaking out about lengthy waits, reaching over 30 hours in certain cases. Health care leaders in Nova Scotia met throughout the weekend to assess the situation and determine how to address it.
What You Need to Know
In a year-end interview, New Brunswick Premier Blaine Higgs expressed ongoing concerns with the anglophone school system, including its failure to produce bilingual graduates. The government had previously announced plans to replace French immersion with a new second-language program for all anglophone students, but reversed course following public backlash. Education Minister Bill Hogan released a report in the fall, drafted in partnership with the New Brunswick Teachers' Association, and accepted all its recommendations for long-term changes to the school system, but Higgs noted that more is required.
The Canadian Food Inspection Agency expects to have a draft of the new national potato wart response plan ready for public review by spring 2024, and will be seeking feedback on three risk-management documents to protect the industry. The plan is anticipated to be finalized by summer and then CFIA will work with industry to implement it. The CFIA is also working on allowing more seed potatoes to be exported from P.E.I. this year.
After almost seven weeks on strike, workers at the Sobeys-owned Pete's Frootique location in downtown Halifax have ratified their first collective agreement. The nearly 100 workers represented by Service Employees International Union Local 2 had been on strike since November 18, demanding paid sick days and a reasonable pay increase.
The Nova Scotia government has not yet released the results of the latest round of consultation on the?Coastal Protection Act,?leading Opposition parties to accuse the government of breaking promises and further delaying crucial action needed to address climate change. The Act, intended to outline where and how development can occur near the province's coastline in a way that protects people, property and the environment, passed in 2019 but has since faced numerous delays in implementation.
领英推荐
The University of Prince Edward Island (UPEI) has released a draft of its five-year action plan to address the recommendations outlined in the Rubin Thomlinson report, which exposed a toxic environment on campus marked by widespread bullying and harassment. The university is seeking public feedback on the plan, which includes accountability provisions committed to protecting the community from discrimination, harassment, and sexual violence, while fostering an inclusive environment on campus. P.E.I. Premier Dennis King has emphasized that future provincial funding for the university will depend on it adopting the Rubin-Thomlinson recommendations.
Memorial University's Grenfell campus is experiencing ongoing disruptions due to a cybersecurity attack, leading to IT system outages, including Wi-Fi. The incident has postponed the start of the winter semester, and while online courses remain unaffected, some students, particularly international students living on campus, are facing challenges connecting with their families due to limited internet access. Debit systems, ATMs and services like Outlook are also impacted. The university is working on solutions, including prioritizing Wi-Fi hot spots, but the situation remains uncertain, affecting students' access to course materials and services on campus.
Must Read Articles
British Columbia
Top Story
Vancouver’s Teck Resources Ltd. Closes sale of minority stakes in coal business to Nippon, Posco
Teck Resources Ltd. has finalized the sale of minority interests in its coal business to Nippon Steel Corp. and Posco. Nippon Steel acquired a 20% stake in Teck's coal business, Elk Valley Resources, by exchanging its prior 2.5% interest in one of Teck's coal operations and providing US$1.7 billion in cash. Posco exchanged its interest in two of Teck's coal operations for a three percent stake in the overall steelmaking coal operation. These transactions are part of a broader deal, with Glencore set to acquire a 77% stake in Teck's coal business for US$6.9 billion, pending regulatory review and expected to conclude in Q3 2024. Upon completion of the Glencore deal, Teck will no longer be involved in coal, allowing the company to focus on expanding copper and zinc production to meet rising global demand for these metals.
What You Need to Know
The Canada Energy Regulator has rejected Trans Mountain Corp.'s request for a pipeline variance, citing safety concerns related to the materials procured for the 2.3-kilometre stretch of the Trans Mountain pipeline expansion project in British Columbia. The regulator expressed doubts about the company's ability to ensure an appropriate level of safety and pipeline integrity with the proposed changes in diameter, wall thickness, and coating. Trans Mountain Corp. had requested the variance due to challenges in drilling through hard rock, warning of a possible 60-day delay if not granted. The regulator's decision adds to the hurdles faced by Trans Mountain Corp. in completing the pipeline project, which has already seen alterations in its route and significant cost overruns, with the latest estimate at $30.9 billion.
Greater Victoria's unemployment rate remained steady at 4.1% in December amid national economic softening. Construction, public administration, manufacturing, and wholesale/retail trade sectors experienced year-over-year job growth, while accommodation/food services, health care/services, and professional/scientific/technical services recorded declines. In British Columbia, job growth led the nation in December, with the province adding 74,000 new jobs in 2023, primarily in full-time work, resulting in a 5.6% unemployment rate, one of the lowest nationally.
A floating hotel, the MV Isabelle, arrived in B.C. waters after a 40-day journey from Estonia, where it previously housed Ukrainian refugees. The luxury ship, contracted by Bridgemans Services Group for the Woodfibre LNG project near Squamish, will undergo final touches in North Vancouver, including recreational amenities, before heading to the construction site. The floatel, accommodating over 600 workers, aims to mitigate local housing concerns and environmental impacts associated with standard work camps, providing sewage and water treatment systems, heat pumps, and a connection to the B.C. Hydro electricity grid.
The British Columbia government is actively seeking public input to enhance its Emergency Support Services (ESS) program, particularly focusing on improving assistance for disaster evacuees. This initiative comes in the aftermath of the province's most severe wildfire season on record. The government aims to gather feedback not only from evacuees but also from front-line workers, volunteers, and the general public to better understand their needs and enhance disaster-related support. This engagement underscores a proactive approach to address challenges and enhance disaster response mechanisms in the region.
The union representing over 180 transit workers in British Columbia, CUPE Local 4500, has issued a 72-hour strike notice, raising concerns about potential disruptions in Metro Vancouver's transit services. The union's decision follows failed negotiations with the employer. This development emphasizes the urgency for resolution to avoid significant impacts on public transportation in the Lower Mainland. The strike notice includes plans for an overtime ban starting on Saturday, marking the beginning of potential service disruptions.
Housing Minister Sean Fraser has announced that the Canadian government will release a comprehensive plan in 2024 to address the housing crisis. The plan, building on recent Liberal policies, includes measures such as eliminating GST charges on rental developments, increasing low-cost financing for developers, and expediting project approvals with pre-approved home blueprints. While the government's efforts aim to regain public favor on affordability issues, challenges remain, including rapid population growth attributed to immigration, prompting experts to warn of a worsening housing shortage. Fraser acknowledges the need to balance economic benefits from international student and temporary worker programs with housing requirements, suggesting potential adjustments to rules for businesses accessing temporary workers.
Must Read Articles
Ontario
Top Story
New Ontario laws and regulations come into effect in 2024. Here's what you should know??
Effective January 1, 2024, the Ontario government implemented?daycare safe-arrival rules, fines for unauthorized access to health information, and changes in the tow-truck industry – granting customers new rights and shifting licensing control to the province. Construction safety regulations are updated for crane operators, and alcohol purchasing rules are extended until January 1, 2026.
What You Need to Know
Province Honours 25 New Order of Ontario Appointees
Lieutenant Governor Edith Dumont has announced 25 new appointments to the Order of Ontario for 2023, the province's highest citizen honor. Recognizing outstanding contributions across various fields, the appointees include individuals like Jo-Anne Clarke, Hon. David Collenette, and Raquel Urtasun. The Order celebrates excellence, merit, and dedication in building a stronger community and acknowledges the diverse achievements of its recipients.
Ontario Expands Highway 401 in Cambridge
The Ontario government has completed an eight-kilometer expansion of Highway 401 in Cambridge, adding lanes from Highway 8 to Townline Road to alleviate congestion in the Greater Golden Horseshoe. The project includes increasing the highway from six to ten lanes, introducing High Occupancy Vehicle (HOV) lanes, and implementing various infrastructure enhancements for improved safety and efficiency.
Ontario Connecting Children and Youth in Durham Region to Care Close to Home
Ontario is investing $8.4 million in pediatric services for Durham Region as part of a $330 million annual commitment province-wide. The funds will enhance programs, including an Adolescent Eating Disorder Day Treatment Program, to improve accessibility and reduce wait times for children and youth at the Ontario Shores Centre for Mental Health Sciences and the Grandview Children's Centre.
Ontario Government to Reverse Ontario Energy Board Decision
Minister of Energy Todd Smith expressed disappointment in the Ontario Energy Board's decision to shorten the amortization period for new natural gas connections, citing high upfront costs for new homes. The Minister pledged to use his authority to pause the decision and proposed legislation to reverse it, aiming to protect homebuyers and support ongoing construction efforts.?
Must Read Articles
Toronto
Top Story
'Substantial' property tax increase coming to Toronto, city's budget chief warns??
The budget chief in Toronto is cautioning that a "significant" property tax hike will be included in the city's upcoming spending package, addressing a longstanding fiscal crisis. When questioned about potential property tax increases, Councillor Shelley Carroll, appointed as the budget chief by Mayor Olivia Chow last year, confirmed that they are indeed on the horizon. The city's budget process kicks off this week with city staff presenting proposed operating and capital spending packages during the month-and-a-half-long deliberation. The council is set to make the final decision on the budget package on Feb. 14.
What You Need to Know
2.3% tax hike in 2024 for Mississauga residents as city passes budget
In 2024, the average taxpayer in Mississauga can anticipate a $151 uptick in the city's portion of their residential property tax bill.?This increase results from a recently approved 2.3% tax hike for residents, incorporated into the City of Mississauga's 2024 budget. Notably, the 2023 combined regional and city residential property tax escalation was markedly higher at 6.08% (7.2% in 2024).
Must Read Articles
Thank you for keeping us in the loop with the latest updates across Canada ??! As Lao Tzu once said - A journey of a thousand miles begins with a single step. Your insightful newsletters are that first step for many of us towards staying informed and engaged. Subscribed ? #StayInformed #MondayMotivation #InspirationalNews