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Canada-wide Update | Highlights

July 22, 2024

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Highlights from Crestview Strategy’s weekly Canada-wide newsletter:

Alberta

Alberta to amend rule on purchasing oil and gas wells from bankrupt companies

Alberta has announced a $44 million investment to support 21 small and medium-sized businesses in launching emissions-reducing projects across various sectors, including power generation, agriculture, forestry, oil and gas, fertilizer, construction, and electricity. The funding, available through the Emissions Reduction Alberta’s Emerging Innovators Challenge, is expected to create more than 875 jobs and contribute $238 million to Alberta’s GDP by 2027. The projects are also projected to reduce emissions by 206,000 tonnes per year, totaling 1.2 million tonnes by 2030 and five million tonnes by 2050. The funding amounts for each project range from $250,000 to $5 million, and the projects were selected through a competitive review process. Once complete, they will be piloted, demonstrated, and deployed in Alberta. Examples of funded projects include an AI-powered horticultural lighting system in Calgary and Medicine Hat and the expansion of a biomass testing facility in Lethbridge County.

Atlantic Canada

N.L. Premier announces surprise cabinet shuffle, appointing Hogan as permanent health minister amidst doctor shortage

N.L. Premier Andrew Furey announced a surprise cabinet shuffle on Friday which included eight cabinet ministers switching portfolios. After much criticism from opposition leaders, the Hon. John Hogan was officially appointed the full-time Health Minister, a role he previously held on an interim basis while also serving as the Minister of Justice – he will remain the Attorney General and the Government House Leader. The Hon. Bernard Davis, former Minister of Environment, will now serve as the Minister of Justice. Both Premier Furey and Minister Hogan reiterated that the government’s top priority is the health of Newfoundlanders and Labradorians and defended the province’s health strategy, rebutting comments from PC health critic Barry Petten, who argued that the government is failing to address the province’s doctor shortage. Minister Hogan said that the province’s strategy to create “family care teams” will allow more people to access primary care, even if they don’t have a family doctor. The discourse erupted after the president of the N.L. Medical Association told media that more that 175,000 N.L. residents are without a family doctor, and that the province needs to come up with a long-term plan to solve the doctor shortage.

British Columbia

B.C. Conservatives propose healthcare reforms and increased private clinic presence 

John Rustad, the Leader of British Columbia’s Conservative Party, stated that B.C.’s health-care system in B.C. is in crisis,’ and ‘failing.’  His party proposes major reforms, including funding travel for out-of-province care with a wait time guarantee, and expanding private clinics. Rustad also advocates compensating individuals who lost jobs due to COVID-19 for refusing vaccines. He aims to attract more healthcare workers by streamlining hiring processes and improving working conditions. The BC United party has accused the Conservatives of copying their healthcare platform. Rustad anticipates initial spending increases followed by stabilization and eventual per capita cost reductions under his model. However, New Democrat MLA Ravi Parmar argues that this reduction would translate to a loss of $4.1 billion in health spending. Documents from the B.C. Conservatives cite a Deloitte report projecting Canadian health spending to reach 13.9% of GDP by 2040, with potential to lower this to below 11% through modernization efforts.

Ontario

LCBO reaches tentative agreement with union to end strike

The LCBO and the union representing its workers have reached a tentative agreement, ending a two-week strike that began on July 5 and led to store closures across Ontario. The strike officially ended today at 12:01am, with stores scheduled to reopen on July 23. The deal was successfully ratified on Sunday, with both the LCBO and the Ontario Public Service Employees Union acknowledging the disruptions.

Ottawa

Liberal Sources say to expect Cabinet shuffle ahead of the August Cabinet retreat

According to sources within the Liberal Party, Prime Minister Justin Trudeau will shuffle his cabinet ahead of the August 25-27 cabinet retreat in Halifax, with some speculating it could happen as early as next week. MPs have been demanding changes to the front bench as polling numbers drop and the Liberals come to terms with the recent by-election loss in Toronto St. Paul’s. Adding to the rumors that a cabinet shuffle is imminent is speculation that Finance Minister Chrystia Freeland’s position is under scrutiny and former Bank of Canada governor Mark Carney is being considered as her replacement.

Toronto

Toronto recovers from storm as Trudeau urges Infrastructure upgrades

Cleanup crews are working to restore the Greater Toronto Area following a torrential downpour that caused significant flooding, power outages, and major road closures, including Union Station and the Don Valley Parkway. Prime Minister Justin Trudeau emphasized the necessity for increased investment in resilient infrastructure to withstand future climate change-related extreme weather events, describing the flooding as a “significant event.” Approximately 3,300 Toronto Hydro customers remain without power, and the Toronto and Region Conservation Authority cautions that high water levels in local rivers continue to pose hazardous conditions.

Quebec

The uncertain future of Quebec’s battery industry

In July, the prospects for Quebec’s battery industry have dimmed, contrary to the optimistic vision presented two years ago by Economy Minister Pierre Fitzgibbon. Despite substantial investments in green electricity and value-added manufacturing, key companies like Taiga and Lion Electric are facing financial struggles. Northvolt’s ambitious plans for a new factory near Montreal are also under threat, as the company reassesses its aggressive expansion. Globally, the battery market is experiencing overcapacity, exacerbated by lower-than-expected demand for electric vehicles in the West, unlike China. This oversupply has led to financial crises among major manufacturers, including SK On. The possibility of protective measures in Western markets might hinder the affordability and adoption of electric vehicles. Ultimately, while Quebec has invested over $3.3 billion in the battery sector, further cautious approach is necessary to avoid future setbacks.

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