Canada’s chief bank inspector yesterday said he’s concerned over billions loaned in certain variable rate mortgages. “We are watching very carefully,” Superintendent of Financial Institutions Peter Routledge told the Senate banking committee: “What I am concerned about is the build-up in variable rate mortgages with fixed payments.”
CRTC censors must mandate corrections to “errors of fact” in newspaper and online news articles, says the National Council of Canadian Muslims. Members of the Senate transport and communications committee expressed alarm over the proposal: “Are you actually calling for regulation of the free print media?”
Almost six million Census users identified their ethnicity as Canadian, according to Statistics Canada data detailed yesterday. Census takers for years would not list “Canadian” as an actual ethnic group, prompting public protest: “How many generations do we have to go back before we’re Canadian?”
Figures don’t support a Conservative MP’s protest that his 2021 election loss was due to Communist Chinese agents, say Liberal members of the House affairs committee. Ex-MP Kenny Chiu yesterday testified the very nature of election interference made it difficult to document: “In your particular riding the NDP vote actually went up.”
Chinese subterfuge against parliamentarians will be investigated by the House affairs committee. A unanimous Commons vote for full hearings came yesterday as one cabinet representative complained of “innuendos” against the Prime Minister.
A filibuster of Finance Minister Chrystia Freeland’s budget yesterday entered its second week as Conservative MPs talked out the clock at the Commons finance committee. The opposition demanded Freeland appear for a minimum two hours’ questioning if she wants the budget passed: “I feel sad about that.”
The profit-driven housing market is “harming people” and must be regulated by Parliament, Federal Housing Advocate Marie-Josée Houle said yesterday. Only regulations will lower prices, she said: “Corporate investment in housing is a serious human rights issue.”
A 33 percent increase in mandatory security fees will cost air passengers more than a quarter billion next year, the Parliamentary Budget Office said yesterday. Cabinet raised the fees for the first time since 2010 though figures showed revenues were an average 12 percent more than the cost of airport X-ray scanning: “It has become a cash cow, not a fee for service.”
The Royal Canadian Mint yesterday released figures confirming it lost millions on a failed digital currency venture. Management would not comment: “The Mint considers that information is commercially confidential.”
The Canada Pension Plan Investment Board rates China a good investment despite human rights atrocities. “We are exceedingly, exceedingly cautious,” said Michel Leduc, senior managing director with the Board: “We recognize any investment in China needs to be handled with care.”
MPs yesterday by a 170 to 150 vote defied cabinet in demanding a roundup of Chinese spies and mandatory registration of foreign agents in Canada. Cabinet expelled the first Chinese agent as the Commons voted for tough action against subterfuge: “We don’t know if there are others.”
The chief of the Canadian Human Rights Commission yesterday said she was sorry for mistreatment of Black employees. Members of the Senate human rights committee said the lack of Black executives at the agency diminished the apology: “This is an issue for Blacks, so why isn’t there a Black person on the executive sitting here?”
The Commons human resources committee today opens hearings on corporate landlords and tax treatment of real estate investment trusts. One MP called it a bid to “demonize private sector landlords.”
English speaking Canadians remain indifferent to French despite 54 years of official bilingualism, says in-house federal research. A majority of residents in two provinces, British Columbia and Alberta, said they did not know a single French person: “Positive statements about bilingualism are higher among those living in the eastern part of the country than in the West.”
The pending loss of a federal riding in northern Ontario comes at a “very fragile time for democracy,” says New Democrat MP Charlie Angus (Timmins-James Bay, Ont.). A federal commission has recommended redrawing much of Angus’ riding into a new constituency 520,300 square kilometres in size: “Is your opposition to cutting a seat in northern Ontario about protecting your own riding?”
