In the news today: Government faces third Tory non-confidence vote

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

Government faces third Tory non-confidence vote

The Liberals are set to face a third Conservative non-confidence vote today, but the government is likely to survive with the support of the NDP.

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Members of Parliament are supposed to vote on a motion that quotes NDP Leader Jagmeet Singh’s criticism of the Liberals and asks the House to agree with Singh and vote to bring down the government.

Singh said last week he is not going to support the Conservatives, so the motion will likely fail.

The House is also supposed to vote on an NDP motion calling on the government to expand the GST break and the $250 “working Canadians rebate” to fully retired seniors and people who rely on disability benefits.

As opposition parties continue to use procedural tactics to stall one another’s motions, the House is facing a deadline on Tuesday to vote to approve billions of dollars in government spending.

Here’s what else we’re watching…

BoC expected to lower interest rates again

Financial markets and forecasters are betting on another jumbo interest rate cut from the Bank of Canada this week.

Statistics Canada’s latest job report tilted expectations in favour of a larger cut.

The Friday report revealed the unemployment rate jumped to 6.8 per cent in November, up from 6.5 per cent a month earlier, as more people looked for work.

A half-percentage point interest rate reduction would bring the central bank’s key interest rate to 3.25 per cent.

The Bank of Canada reduced its key interest rate by half a percentage point in October in response to inflation returning to target, but signalled the size of the next rate decision would be data-dependent.

Ontario political world reads electoral tea leaves

Inside Ontario’s legislature, the halls are decked, the sounds of children’s choirs singing Christmas carols waft down the corridors, and in the air there’s a feeling of an election.

Staff and politicians alike are abuzz with early election speculation, seeing signs big and small stacking up as the legislature prepares for its winter break.

Some see the government’s fast-tracking of several bills as an indication it wants to clear the legislative decks before a spring election call. Others point to a year-end deadline Premier Doug Ford has given his Progressive Conservative caucus members to decide if they’ll stand for re-election.

Some say the $200 “rebate” cheques the government plans to mail to Ontario households early in the new year are evidence an election will soon follow, while others note that government ad spending is at the highest level ever.

Buzz has been building since Ford repeatedly refused to rule out calling an election earlier than the fixed June 2026 date at a press conference this spring.

Fast food ‘value war’ to last into 2025

It’s lunch time at the Eaton Centre mall in downtown Toronto and every corner of the food court is hungry for customers.

Bourbon St. Grill is trying to lure them in with a pair of beef or chicken Jamaican patties for $5 and a “budget-friendly” meal for students priced at $10.99.

This onslaught of promotions has taken shape at just about every fast-food joint across the country, and the phenomenon has intensified into what industry watchers have dubbed a “value war.”

They’re predicting the battle for your buck isn’t going away anytime soon and may even hit new heights next year.

“It’s going to be at least the first six months of 2025, when we’re going to be seeing elevated promotions, but it’s likely going to be the entire 2025,” said Danilo Gargiulo, investment research firm Bernstein’s senior analyst specializing in restaurants.

This report by The Canadian Press was first published Dec. 9, 2024.

The Canadian Press