Justin Trudeau’s top minister, Chrystia Freeland, has been suddenly added to the list of speakers at the World Economic Forum summit in Davos.
Plus, the state broadcaster acknowledged an inaccurate fact check of Conservative leader Pierre Poilievre in a recent publication.
And a Quebec man pleaded guilty to 14 counts of arson during this past summer’s wildfire season.
Tune into The Daily Brief with Isaac Lamoureux and Noah Jarvis!
While in Davos for the World Economic Forum summit, RBC CEO David McKay said that Canadians should expect a recession this year following another likely negative quarter of GDP growth.
While talking to Bloomberg, McKay mentioned that regular people are feeling the effects of the central bank raising interest rates mainly via spikes in monthly payments on mortgages.
“There has been a payment shock to Canadians and the difference between Canada and the US is we don’t have a 30-year fixed mortgage. We usually have 4 [or] 5-year terms, so we have a lot of variable rate mortgages at the same time, 20% of our book roughly is variable rate mortgage,” said McKay.
“So you’ve seen a payment shock to about 30% of Canadians right now in the tune of 20% to 25% increase a month. That’s been challenging for Canadians.”
According to McKay, even though people are handling the higher costs okay for now, the economy is slowing down a lot faster than the US economy.
“Canadians are handling that payment shock well, so you’re not seeing that migrate to default but you’re seeing the Canadian economy slow much more quickly to the point that we already have a quarter of negative GDP under our belt,” said McKay.
“We’re looking at probably another negative quarter of GDP which we will technically be in a soft landing recession early this year.”
According to the latest Statistics Canada numbers, inflation reached 3.4% in December, largely driven by the price of gasoline, air travel and rent.
The latest numbers from Statistics Canada confirm that the economy is not performing well. In the third quarter of 2023, the GDP went down by 1.1% – worse than what economists expected, who thought the economy would grow during that time. Data also showed that people aren’t spending as much as predicted.
Prime Minister Justin Trudeau defended his government’s actions in November, saying they’ve invested in things like housing and dental care, going on to claim that other figures showed a more positive trend in the economy.
When Finance Minister and Deputy Prime Minister Chrystia Freeland presented her fiscal update last fall, she claimed that the economy would grow in the third quarter – contrary to the actual trends.
“Unless we get rates down, there’s more payment shock coming but consumers are handling it,” said McKay.
Freeland also spoke at the World Economic Forum on Thursday, after being suddenly added to the conference’s agenda.
The Bank of Canada is set to give a rate announcement later this month on Jan. 24.
Deputy Prime Minister Chrystia Freeland told the World Economic Forum summit in Davos that decarbonization in Canada will mean more jobs and more growth for the economy.
During the panel, Freeland spoke of a meeting she had with a “very significant international business leader.”
“I spoke yesterday to a very significant international business leader who is also a big investor in Canada and he said to me ‘All the countries in the world need to be very careful that decarbonization does not mean deindustrialization.’ I thought that was an extremely smart comment,” said Freeland.
“Canada is absolutely determined that decarbonization for us will mean more jobs, more growth and more manufacturing. We recognize that the government needs to play a role to make that happen.”
Throughout Wednesday, Freeland engaged in meetings with various business leaders and participants at the World Economic Forum. On Thursday, she is scheduled to hold more private meetings with the conference’s elite attendees before returning to Canada.
Freeland was only suddenly added to the World Economic Forum speaker list after the conference had already begun as exclusively reported by True North.
Freeland was the sole Canadian government official addressing the elite gathering.
She also holds a position on the World Economic Forum’s Board of Trustees and has attended the conference regularly.
True North, on the ground covering the 2024 World Economic Forum annual meeting, continues to report on developments.
In 2023, True North’s Andrew Lawton questioned Freeland about her affiliation with the organization.
Prince Edward Island’s strategy to bolster its labour force through immigration, a long-touted government approach, appears to be faltering, particularly in the construction sector.
Despite the provincial government’s efforts to address labour shortages through immigration, data indicates that these measures have scarcely impacted the construction industry, fueling the ongoing housing crisis.
Statistic Canada’s 2021 census showed that of the over 5,000 non-permanent residents in P.E.I., a mere 125 held the highest educational certificate in trades, accounting for less than one in 40 of these residents. These non-permanent residents include recent arrivals seeking permanent residency, temporary foreign workers, and students.
The situation is even more pronounced according to Island Investment Development Inc.’s 2022-2023 Annual Report. The provincial agency responsible for immigration to P.E.I. nominated 1,874 people to come to the province. Of these nominations, 11 people’s level of education was in trades or apprenticeships — accounting for just less than 0.6%.
One of the biggest problems the construction industry faces is a worker shortage, said the Construction Association of P.E.I.
“Without that skilled labour, there’s no possible way we build more housing,” Sam Sanderson, general manager of the association, told the CBC.
The housing crisis in P.E.I. has been escalating since 2019, characterized by plummeting apartment vacancy rates, which fell to below 1% in 2022, and rising house prices. The median price of a single detached home rose almost 6% between the fourth quarter of 2022 and 2023.
The core of this issue lies in the construction industry’s struggle to build apartment buildings, condos, and single-family homes quickly enough to keep pace with the rapidly growing population.
“Money is never going to solve the problem. It’s people, and if we don’t start bringing those skilled people in, we’re really going to be in more trouble,” said Sanderson.
Job vacancies in some trades-related industries, such as construction and fabricated metal product manufacturing, reached record highs in 2022, according to P.E.I.’s census publication.
According to the province’s own report, between 2016 and 2021, 4,860 people immigrated to the province. 610 of these immigrants were in worker programs. Zero were classified as skilled trades workers.
The 2021 census showed that among those aged 25 to 64 already living in P.E.I., 6.7% (about 1 in 15) of that population had their highest education in an apprenticeship or non-apprenticeship trades certificate. In Canada, this total is 9.7% (about 1 in 10).
New immigrants into Canada from other countries that work in construction are 2%, which a CIBC report from June 2023 claims has been trending downward over the past decade.
Housing starts in P.E.I. fell from 442 to 253 between the third and fourth quarter of 2023 — a decrease of almost 43%.
The situation is not improving, said Sanderson.
“It’s a discussion we’ve been having not only locally, regionally, but nationally as well — the low volume of skilled trades that have been coming into Canada.”
The challenges in the construction sector are partly attributed to the intricacies of Canada’s immigration system. The system favours candidates with long-term job guarantees, a criterion that rarely aligns with the nature of construction work. This mismatch makes it difficult for local employers to meet the requirements for recruiting foreign workers in the construction industry.
“There’s not many employers, if any, on Prince Edward Island that can really guarantee somebody a year to meet the criteria for the immigration process,” explained Sanderson.
In recent years, P.E.I.’s provincial nominee program (PNP) has shifted its focus from entrepreneurs to workers, with 97% of PNP invitations in 2023 aimed at the workforce stream.
However, details regarding the specific sectors these workers are intended for remain unclear. The province has not provided a breakdown of the sectors targeted by these invitations, nor has it mentioned its plans to increase the number of construction workers recruited.
Global elites have descended on Davos to outline their ideas on rebuilding trust in a fragmented world, amongst other critical global issues. True North journalist Cosmin Dzurdzsa sat down with Andrew Lawton to discuss this year’s World Economic Forum annual meeting.
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In a passionate address to the World Economic Forum summit in Davos, Argentinian President Javier Milei raised alarm bells about the growing threat of socialism and communism infiltrating Western countries.
Milei, renowned for his libertarian views, didn’t mince words as he outlined his concerns about the erosion of the values of the free market, private property, and libertarian principles within the political establishment.
“Why do I say that the West is endangered? Because in many of our countries that should champion the values of the free market, sectors of the political and economic establishment, either due to mistakes in their theoretical framework or driven by a hunger for power, are undermining the foundations of libertarianism,” declared Milei.
He went on to highlight the dangers of socialism, emphasizing its historical failures and the human cost it has exacted.
“Socialism is an impoverishing phenomenon that has failed wherever it’s been tried, economically, socially, culturally, and it has resulted in the tragic loss of over 100 million lives,” warned Milei, asserting that those who continue to support socialism are denying reality.
“To many, it may sound ridiculous to suggest that the West has turned to socialism if you only limit yourself to the traditional economic definition. However, the reality is that states can control various aspects of individuals’ lives without directly owning the means of production.”
Calling for a return to the principles of freedom, economic growth, and limited government, Milei implored Western leaders to reconsider their trajectory.
“We invite the Western world to get back on the path of prosperity, economic freedom, limited government, and unlimited respect for private property—essential elements for economic growth,” said Milei.
“The state is not the solution. The state is the problem itself.”
Earlier in the day, at an event hosted by Bloomberg in Davos, the Managing Director of the International Monetary Fund, Kristalina Georgieva said that she was impressed by Milei’s government to date.
When she was asked by a journalist whether his populist style would lead to economic turmoil, Georgieva said otherwise.
“We actually just completed a staff-level agreement because what this administration is doing is to very aggressively address some of the shortcomings that we all see in Argentina. Fiscal out of whack, spending more than you can afford, reserves wiped out,” said Georgieva.
“So we are seeing progress on all these fronts. Of course, what we also care deeply about is that as this administration moves with very bold reforms, there is also protection for the most vulnerable people and we are very gratified in the staff-level agreement.”
Javier Milei made his first appearance at the World Economic Forum since becoming president of Argentina. He didn’t mince words about the dangers of socialism and the “parasites” who leech off government instead of creating. True North’s Andrew Lawton says it’s what world leaders need to do rather than kissing Klaus Schwab’s ring and going along with the WEF’s grand vision.
True North is on the ground reporting on the WEF annual meeting. In this edition of the show, Andrew talks about how few Davos delegates are willing to explain why they’re there and what they’re doing.
Plus, Chrystia Freeland was a last-minute addition to the speakers’ line-up.
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Columnist for the National Post, Sabrina Maddeaux, announced her plans to run for the Conservative Party of Canada in the next election. She announced that will be seeking the nomination for Aurora-Oak Ridges – Richmond Hill on Wednesday.
Maddeaux has become a well-known voice in the political sphere for her articles and appearances on radio and television, particularly within the millennial generation of Conservative voices.
“I am proud to be from Richmond Hill, but it’s also sadly a place where I may never be able to afford to own a home of my own. Like many millennials, I was locked out of home ownership after prices more than doubled in eight years under Trudeau’s watch. It shouldn’t be a luxury to raise a family in the community you grew up in,” said Maddeaux in a press release.
Maddeaux has been a vocal critic on housing affordability and inflation while working at the National Post.
Following Pierre Poilievre’s victory to become CPC leader in November 2022, Maddeaux was one of the first journalists to get an in-depth interview with the new leader.
“Under Justin Trudeau’s Liberals, my generation has seen Canada go from a place where hard work brings opportunity to one where inheritance counts more than merit,” said Maddeaux. “As someone who has experienced the disastrous impacts of Trudeau’s reckless policies, I will fight hard to build Canada back to a place where each generation is better off than the last.”
Maddeaux says one of the reasons she’s running is because of Canada’s standing on the world stage.
“Canada is in desperate need of a government with strong principles and steadfast moral clarity as authoritarian regimes increasingly collaborate with one another and fund terror around the world,” said Maddeaux. “Under Trudeau, Canada has become a shell of its former self. We need to get back to standing up for what’s right, not just issuing feel-good press statements, to defend democracy and freedom both at home and abroad.”
A Quebec man has pleaded guilty to starting 14 fires during Canada’s wildfire season this past summer.
38-year-old Brian Paré has pleaded guilty to 13 counts of arson and one count of arson with disregard for human life.
The fires took place between May 29 and September 5, 2023.
Prosecutor Marie-Philippe Charron informed the court that out of the 14 fires ignited by Paré, two led to the evacuation of approximately 500 homes in Chapais, Quebec, a small community situated about 425 kilometres northwest of Quebec City, according to the Canadian Press.
Chibougamau is a small town that was also affected by last summer’s fires.
The fires caused all 7,500 residents to be displaced from their homes, according to the Counter Signal.
Paré posted videos of fires on his Facebook page, which still remain up. The Quebec man claimed that the fires were intentionally started by the Canadian government and other “elites” to progress their 2030 agenda.
“This is happening in Canada, so when I say climate change doesn’t exist but is invented and fabricated by our governments and their United Nations Elite from the World Economic Forum and the WHO [World Health Organization] for their 2030 new world order,” said Paré in a caption of a video showcasing one of the fires.
According to CBC, 700 forest fires burned over 4.5 million hectares of Quebec forest over the summer, 99.9% of which were sparked by lightning. However, recent data from the National Forestry Database shows that in 2020, roughly 10% of fires were sparked by lightning. Further, more recent data from the Canadian Interagency Forest Fire Centre shows that in 2022, among Quebec’s 449 fires, 39 were natural (8.7%), while 410 were human-caused.
According to a spokesperson for the Société de protection des forêts contre le feu, responsible for forest fires in the province, human activity was to blame for roughly 80% of fires in Quebec
According to the National Forestry Database, the number of fires and total area (in millions of hectares) burned in Canada are lower than in 1980 – the furthest the data goes back.
During the wildfire season, politicians and the media blamed the fires on climate change, including Prime Minister Justin Trudeau, Minister of Energy Jonathan Wilkinson, Minister of Environment Steven Guilbeault, NDP Leader Jagmeet Singh, Green Party Leader Elizabeth May, and Senator Chuck Schumer, each blaming Canadian fires on climate change.
CTV and the Washington Post both published articles attributing fires to climate change despite their cause not being known at the time.
Jordan Peterson loses appeal with College of Psychologists over mandatory social media training
Canadian psychologist and renowned author Dr. Jordan Peterson lost his appeal against the College of Psychologists of Ontario, which had previously ordered him to undergo remedial social media training.
A panel of three judges with the Ontario Court of Appeal dismissed Peterson’s motion for leave to appeal as part of a previous decision by the Ontario Divisional Court on Tuesday.
No reasons for the decision were given, which is not abnormal in appeal cases.
“I think it’s going to be a licence to regulatory bodies to be more aggressive,” lawyer Howard Levitt, who represented Peterson in the case, told the National Post.
They are unable to appeal the case further, according to Levitt, who specializes in employment law and is also a regular columnist for the Financial Post.
The Toronto lawyer is surprised by the decision, in particular that the courts weren’t more interested in weighing in on how far professional regulatory bodies should be allowed to go in pursuit of policing its members’ freedom of speech.
“Is there free speech in Canada? To what extent are the limits on free speech in Canada, to free speech which is not criminal or not tortious, not a violation of any law? To what extent are regulated professionals and regulated trades impacted in terms of what they can say in the public forum?” said Levitt. “These are important issues and Canada has been castigated broadly for the decision of the divisional court.”
The Ontario Divisional Court agreed that the College of Psychologists of Ontario was allowed to force Peterson to undergo social media training in August.
“Requiring coaching following apparently unheeded advice seems a reasonable next step, proportionately balancing statutory objectives against Charter rights which are minimally impaired, if they are impaired at all, by the (college’s decision to require coaching),” reads the 18-page court decision.
Peterson then went on to appeal the August ruling, attempting to have it overturned.
The College of Psychologists of Ontario claims it received several complaints regarding Peterson’s online presence on social media in 2022.
Among those complaints were his comments about a plus-size Sports Illustrated model which he called “not beautiful” and the gender transition of actor Elliot Page.
Peterson himself posted a document of the detailed complaints against him in January 2023.
The college responded to these complaints by forcing Peterson to undergo social media training, at his own cost, or have his license to practice psychology in Ontario suspended.
However, Peterson had already put his practice on hold in 2017, while still working as a professor emeritus of psychology at the University of Toronto.
In response to the college’s demands, Peterson refused.
He questioned the validity of the college’s authority to regulate his online speech. Peterson’s claims that his speech is and was political, and therefore remains outside of the purview of the college’s authority.
“I have already undertaken the remediation of my actions in a manner very much akin to what has been suggested by the (Inquiries, Complains and Reports Committee) and have done so in an exceptionally thorough and equally exceptionally public and transparent manner,” Peterson wrote to the college.
None of Peterson’s comments on social media were in violation of any Canadian laws but instead were found to have breached specific rules in place for psychologists, a profession which has a professional regulatory body.
“When individuals join a regulated profession, they do not lose their Charter right to freedom of expression,” said the ruling by the Ontario Divisional Court from August. “At the same time, however, they take on obligations and must abide by the rules of their regulatory body that may limit their freedom of expression.”
“The order is not disciplinary and does not prevent Dr. Peterson from expressing himself on controversial topics.”
Peterson responded to the dismissal of his appeal via a post to X on Tuesday, writing, “A higher court in Canada has ruled that the Ontario College of Psychologists indeed has the right to sentence me to re-education camp. There are no other legal avenues open to me now.”
“It’s capitulate to the petty bureaucrats and the addle-pated woke mob or lose my professional licence. Congratulations, @CPOntario! You won this round. Mark my words, however: the war has barely started. There is nothing you can take from me that I’m unwilling to lose. So watch out. Seriously. You’ve been warned,” continued Peterson.