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Freeland would not have the Bay Avenue expertise of Morneau. Does it matter?
Chrystia Freeland would not have the Bay Avenue credentials of her predecessor Invoice Morneau, who was CEO of the big Canadian human useful resource agency Morneau Shepell. However that is not essentially the one ingredient a main minister appears for when selecting a finance minister. Freeland has the political and monetary abilities to succeed — and vital credentials as a negotiator, in response to a number of specialists.
Joe Oliver, a former federal finance minister in 2014 and 2015, when the Conservatives had been in energy, stated Bay Avenue expertise is clearly useful when taking up the highest cupboard place within the nation. However it’s not all that issues.
“I had three years earlier than I acquired into finance. That was invaluable,” Oliver stated. “Chrystia Freeland has political expertise. That may serve her properly.”
A former international affairs minister, Freeland had been serving as deputy prime minister and intergovernmental affairs minister. She is going to preserve her put up as deputy prime minister whereas her obligations for relations with the provinces have been given to Dominic LeBlanc.
Watch | Freeland takes on historic financial problem due to pandemic:
Previous to moving into politics, Freeland lined the world of finance as a journalist, and spent a while as managing director of Thomson Reuters.
“Whereas it is true [Freeland] would not come from a standard finance background, she actually has the monetary acumen from having reported on it in a really senior degree for main publications,” stated Camilla Sutton, president and CEO of Girls in Capital Markets, a not-for-profit that works to enhance the position of girls in Canada’s finance trade. “She undoubtedly reported on some tales that required a deep understanding of finance.”
The dearth of market response to Morneau’s resignation and Freeland’s new position signifies they’re comparatively reassured that he has been changed by somebody who the market is comparatively accustomed to, stated Douglas Porter, chief economist at BMO Monetary Group. “Given her distinguished stature and seniority, and as somebody who will be anticipated to face her floor on key points, the shortage of direct monetary expertise is being handled as a secondary difficulty,” he stated. Learn extra on this story right here.
A tiny snack
(Manan Vatsyayana/AFP/Getty Pictures)
This picture taken Tuesday exhibits artist Nguyen Thi Ha An posing together with her creation, entitled Banh Mi, at her studio in Hanoi. A 28-year-old structure graduate, An started crafting meals miniatures produced from clay a yr in the past, recognizing an opportunity to capitalize on the world’s rising love for Vietnamese delicacies.
Prime Minister Justin Trudeau says proroguing Parliament offers the federal government an opportunity to arrange for the “unprecedented alternative” introduced by the pandemic. However that may’t obscure the very fact it is egregious, CBC Parliamentary reporter Aaron Wherry writes. It was former Conservative prime minister Stephen Harper’s conspicuously political use of prorogation in 2008 and 2009 that gave the procedural mechanism a foul identify. The Liberals, in response, swore by no means to abuse it. They could argue that they’ve rather a lot to do to arrange a throne speech over the subsequent month, however the authorities’s relative workload will at all times be an unsympathetic argument for sidestepping Parliament. Learn extra evaluation right here
For the final year-and-a-half, 70-year-old Invoice Janman has studied Canadian tax legal guidelines in all their complexity, as he battles the federal authorities to recoup tax cash after dropping thousands and thousands in a Ponzi scheme. The newest chapter in his struggle got here Monday, when he introduced 700 pages of paperwork about his case and took the witness stand in Calgary on the Tax Court docket of Canada. Janman and his spouse misplaced greater than $2 million after investing in Base Finance. They together with tons of of others collectively misplaced about $137 million. Janman and his spouse had been by no means capable of get better any of their cash and have since tried to amend their tax returns from 2006 to 2011 and 2014 as a result of they included fraudulent T5s from Base Finance. Janman is aware of the thousands and thousands invested within the scheme are gone, however he desires the Canada Income Company to acknowledge victims of fraud and permit them to make modifications to previous tax returns. Learn extra in regards to the tax struggle right here.
Watch | Invoice Janman describes his battle with the CRA:
An evacuation order has been issued for residents of 319 properties close to a rapidly rising wildfire that broke out Tuesday afternoon north of Okanagan Falls, B.C., whereas residents of hundreds of houses in Penticton — about 12 kilometres north of the blaze — have been placed on discover. The wildfire was sparked Tuesday about six kilometres north of Okanagan Falls, rising from about 4 hectares as of four p.m. PT to 250 hectares two hours later, in response to the B.C. Wildfire Service. By 10 p.m., the blaze had quadrupled in dimension to 1,000 hectares and was nonetheless burning uncontrolled. Learn extra in regards to the wildfire right here.
Democrats formally nominated Joe Biden as their 2020 presidential nominee final evening, as occasion officers and activists from throughout the USA gave the previous vice-president their overwhelming help throughout his occasion’s all-virtual nationwide conference. The second marked a political excessive level for Biden, who had sought the presidency twice earlier than and is now cemented because the embodiment of Democrats’ determined want to defeat President Donald Trump this fall. Former president Invoice Clinton and former U.S. secretary of state John Kerry had been among the many headliners on an evening that organizers emphasised a easy theme: management issues. Former president Jimmy Carter, now 95 years outdated, additionally lent his voice to a video. Learn extra from the Democratic conference right here.
New video footage seems to indicate that Toronto Raptors president Masai Ujiri was shoved twice earlier than pushing again in opposition to Alameda County sherriff’s deputy Alan Strickland whereas making an attempt to achieve the court docket after the workforce gained the NBA championship in June 2019. The footage was first launched by FOX KTVU 2 on Tuesday evening and later confirmed by CBC Information. The video exhibits Ujiri making an attempt to stroll on to the court docket after the Raptors’ 114-110 Recreation 6 win over the Golden State Warriors at Oracle Area in Oakland, Calif. Strickland makes use of his arm to cease Ujiri in an obvious effort to make sure he had safety credentials. As Ujiri tries to stroll by, Strickland shoves the 50-year-old earlier than the 2 seem to change phrases. Strickland then shoves Ujiri once more, at which level Ujiri retaliates by pushing Strickland again. Learn extra in regards to the video right here.
Now for some excellent news to start out your Wednesday: A gaggle of B.C. college college students with expertise in youngster and youth care did not let an unemployed summer season because of the pandemic get in the best way of their objectives. Harjan Mann, Remy Sanghe and Rachel Kennedy spent six weeks of their summer season from July till mid-August working a free out of doors summer season camp for 6- to Eight-year-olds in North Delta. They’re hoping the volunteer expertise might be a resumé builder. Mann stated they labored collectively final summer season as camp leaders on the South Surrey Recreation Centre however had been laid off this yr because of the COVID-19 pandemic. Nonetheless, they needed to discover a manner to assist mother and father struggling to maintain their youngsters engaged. Sanghe says mother and father had been grateful and the youngsters had been wanting to socialize with others. “You understand we perceive how onerous it’s for fogeys to search out youngster care as it’s,” she stated. “Particularly throughout COVID, it is even tougher.” Learn extra in regards to the camp right here.
Entrance Burner: Inside Canada’s race for a COVID-19 vaccine
A worldwide race for a secure and efficient COVID-19 vaccine is underway. Greater than 160 of them are in numerous levels of testing world wide.
Canada is on this race, too. A gaggle of scientists at VIDO-InterVac — the Vaccine and Infectious Illness Group in Saskatoon — is making an attempt to get by a decade’s value of testing and approvals as early as subsequent yr.
Immediately on Entrance Burner, CBC Saskatoon reporter Alicia Bridges takes us inside a lab engaged on a Canadian COVID-19 vaccine and contained in the lives of the scientists looking for it.
Immediately in historical past: August 19
1809: The primary Canadian-built steamboat, the paddlewheeler Lodging, is launched on the St. Lawrence River at Montreal. Owned by the brewer and banker John Molson, it carried 10 passengers to Quebec Metropolis from Montreal on its maiden voyage in early November.
1909: The primary car races are run on the just-opened Indianapolis Motor Speedway.
1918: Morley Thomas, certainly one of Canada’s foremost climatologists, is born close to St. Thomas, Ont.
1928: Inuk sculptor Qaqaq Ashoona is born at Ikerrasak camp, Baffin Island.
1942: Practically 5,000 Canadian troops, supported by British and U.S. forces, raid the French port of Dieppe. It was termed a gown rehearsal for the eventual invasion of Nazi-occupied France. For Canada, it was the most expensive day of the Second World Conflict. Greater than three,300 troops had been killed, wounded or captured. Regardless of the losses, many army strategists regarded the raid as a invaluable lesson for later seaborne landings. Two Canadians and one British soldier earned Victoria Crosses that day.