Hello, welcome to Politics Insider. Let’s look at what happened today.
The Bank of Canada cut its benchmark interest rate by a quarter-point today, lowering borrowing costs for the first time since March as U.S. tariffs continue to batter the Canadian economy.
Mark Rendell reports that, as widely expected, the bank’s governing council voted to lower the policy rate to 2.5 per cent from 2.75 per cent. This follows three consecutive rate decisions where the central bank remained on hold.
Elsewhere, a South Korean company has made the short list to supply Canada with a fleet of submarines.
If Ottawa ultimately picks Seoul-based Hanwha, it would be the first time Canada has purchased a major weapons system from a non-Western supplier.
Steven Chase reports today that such a decision would represent a significant pivot. It would also forge a new relationship with an Asian country that faces major security challenges of its own, including a heavily militarized Korean Peninsula and an increasingly aggressive China.
And in the House of Commons today, members paid tribute to the late Ken Dryden with a moment of silence and remarks.
The former hockey great, who won the Stanley Cup six times in eight seasons with the Canadiens, was also a Liberal MP and federal social-development minister under prime minister Paul Martin. Dryden died, aged 78, earlier this month.
“Few Canadians have given more or stood taller for our country,” Prime Minister Mark Carney said in the House. “May we pick up Ken’s torch and hold it high.”
NDP MP Leah Gazan, referring to Dryden’s work on a national child-care strategy, said his legacy was not measured in wins or banners, but rather his work for opportunities for children.
“Ken Dryden understood something fundamental, that greatness in sport comes and goes, but greatness in service to others is a lasting legacy,” she said.
Bank of Canada Governor Tiff Macklem takes part in a news conference after cutting Canada’s key interest rate in Ottawa today.Blair Gable/Reuters
What else is going on
Washington hoped for `bigger’ deal with Canada than USMCA, ambassador says: Pete Hoekstra, the U.S. ambassador to Canada, says the White House had been looking for an agreement that encompassed numerous subjects, including defence.
U.S. takes first official step in launching USMCA review: On Tuesday, the Office of the U.S. Trade Representative posted a preliminary notice online saying that it would begin 45 days of public consultations on the United States-Mexico-Canada Agreement, with hearings planned for November.
Scott Moe says solving trade war with China will be `sensitive and delicate dance’: The Saskatchewan Premier says that’s because the conflict was triggered by tariffs on Chinese electric vehicles that Ottawa imposed in concert with the United States.
Strong-borders bill could compromise cybersecurity in Canada, experts warn: The Canadian Civil Liberties Association said the proposed legislation, known as Bill C-2, contains a “sweeping provision” that could introduce a secrecy requirement running counter to how cybersecurity works if the bill becomes law.
Radio-Canada reporter placed on leave after using antisemitic language on TV: On the television show Sur Le Terrain, Washington correspondent Élisa Serret commented in French on U.S. policy toward the Middle East.
Ione Christensen, first female Whitehorse mayor and former senator, dies at 91: Christensen beat out seven men in the 1975 election and would go on to be appointed the first female commissioner of the Yukon in 1979 and the first female senator from the territory in 1999.
On our radar
Prime Minister’s Day: Mark Carney attended the national Liberal caucus meeting on Parliament Hill, later attended Question Period, and was scheduled to hold a working dinner with B.C. Premier David Eby.
Party Leaders: On Parliament Hill, Bloc Québécois Leader Yves-François Blanchet held a news conference and also attended Question Period. Conservative Leader Pierre Poilievre attended Question Period. Green Party Leader Elizabeth May held a news conference with Independent Senator Marilou McPhedran on shared priorities, and was later scheduled to attend a garden party hosted by Commons Speaker Francis Scarpaleggia. NDP Interim Leader Don Davies attended the weekly NDP caucus meeting.
Eby in Ottawa: B.C. Premier David Eby is in Ottawa for a two-day visit aimed at seeking more federal support for major infrastructure projects in the province. Other matters on the agenda include public safety, immigration and housing. He is to meet the Prime Minister for an evening dinner meeting today. Eby will also speak to the Canadian Club in Ottawa on Thursday, attending a live fireside chat and podcast recording with David Herle, host of The Herle Burly Podcast.
Taking a hit: The new interim Parliamentary Budget Officer says he is cutting his salary by $50,000 because of 100,000 job losses over the course of the general economy this past summer. Jason Jacques told the Commons committee on government operations about the cut as he also noted that his office is cutting its budget by 5 per cent. “I’m in an incredibly privileged situation where I can take a $50,000 pay cut,” he said. The September Order-in-Council document on Jacques’s appointment says his salary is between $225,300 and $265,000, though his appointment is for six months.
Quote of the Day:
“I am very open to this idea. We have to start, all indépendantiste voices and leaders, to explain who we are, what we want, the way we would do it, and what it would be the morning after. We have to do that. This is what I do when I go in Washington. Also, when I go in Paris or everywhere. And we have to do that in Canada also because if it comes, we’ve got to make it smooth and best for everybody.” - Bloc Québécois Leader Yves-François Blanchet, in a news conference on Parliament Hill today, responding to a question about whether he would like to engage with advocates for Alberta independence.
Question period
How many seats does a party need to secure representation on the Board of Internal Economy whose members make decisions on financial and administrative matters of the House of Commons?
Scroll to the bottom of this newsletter for the answer.
Perspectives
A way out for Freeland, with others likely to follow
But she’s not quite leaving. She is sticking around as an MP for University-Rosedale, at least for now. Apparently, this is not the time for a by-election, even in a safe Liberal seat in Toronto.
— Campbell Clark, Chief Political Writer
The Ontario Liberals need a new leader. Doug Ford would be perfect.
There are no big ideas being actively debated in the political arena at the moment, and there haven’t been for the last several years. Mr. Ford has been able to coast along because he plays it safe and down the middle, governs like a Liberal, and is generally perceived as affable and well-intentioned. That’s why the Progressive Conservative Leader would make a great Liberal Leader.
— Robyn Urback, Columnist
Fifty years after it was first raised, the Franco-Ontarian flag still carries our voices.
And yet, Franco-Ontarians face a sombre reality. The proportion of Franco-Ontarians in the province is declining. We are aging. Birth rates are dwindling. And Canada’s promises on francophone immigration remain unfulfilled. So, how do we celebrate this flag when art funding falters, when education wavers, and when our institutions are weakened, especially when those institutions meant to defend our interests are also under threat? How do we honour our banner not only as a symbol of our endurance, but as a call to stand firm, when our future feels so fragile?
— Isabelle Bourgeault-Tassé is a Franco-Ontarian writer. She teaches at the Université de Sudbury and publishes the blog La Tourtière.
Go deeper
- Follow along for our stories on Canada-U.S. relations as news develops
- Get the latest insight and analysis from our political opinion writers
- Take a look at the history of immigration reporting and great political scandals from A Nation’s Paper, a book about The Globe and Mail’s role in Canadian history
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The answer to today’s question: Twelve seats in the Commons.