Hello, welcome to Politics Insider. Let’s look at what happened today.
Prime Minister Mark Carney says Canada will launch its first ever national sovereign wealth fund, an investment vehicle he says will ensure all Canadians reap the rewards of government support for major new projects.
The Canada Strong Fund will begin with an initial endowment of $25-billion, Carney told a news conference in Ottawa today.
Bill Curry, Stephanie Levitz and James Bradshaw report that the announcement took place a day before Carney’s government releases a spring economic update.
A sovereign wealth fund is a state-owned investment account that is typically independently managed.
“This will be a Government of Canada fund, but more importantly, it will be a people’s fund. It will be your fund,” Carney said, according to his prepared remarks.
Carney described the fund as a national savings and investment plan that is designed to grow wealth for future generations.
The fund is linked to what the government describes as nation-building efforts, including ports and natural resources projects.
“Over time, the fund will grow through asset recycling and reinvestment, creating even greater opportunities for future generations,” he said, adding that Canadians will be able to invest directly in the fund if they wish.
The Prime Minister said the fund will be professionally managed and will operate at arm’s length from the government as an independent Crown corporation. The government will hold consultations over the coming months on the details of the fund.
In other news today, NDP Leader Avi Lewis says he was unable to persuade the party’s last member of Parliament in Quebec to stay in federal politics, but the NDP will now fight to hold the riding in an inevitable by-election.
Alexandre Boulerice confirmed today that he will be leaving his seat in the Montreal-area riding of Rosemont—La Petite-Patrie that he has held for 15 years.
Boulerice told a news conference in Montreal that he will run for the sovereigntist Québec solidaire party in the fall provincial election.
Lewis said many New Democrats tried to persuade the MP to stay. “It’s clear this decision has been a long time in coming,” he told reporters on Parliament Hill.
Lewis said he spoke to Boulerice about his plans at the Winnipeg convention where Lewis won the party leadership last month, and that it was clear the veteran MP had been in the process of considering the political move.
Today’s development leaves the NDP with five seats in the House of Commons, short of the 12 required for official party status, and associated privileges.
It’s also a long way from the Orange Wave election win of 2011, in which the NDP, under the leadership of Jack Layton, won 59 of 75 seats in the province.
Rogers Communications offering buyouts to half its work force: The announcement signals the largest round of buyout offers in the sector in recent years as telecom revenue growth has slowed across the industry and as companies look to shed costs.
Conservative MPs seek probe of federal spending on digital-prescription program: The MPs want the Auditor-General to investigate nearly $300-million in federal spending on a digital prescription program that is being cancelled after few doctors used it.
Antisemitic incidents in Canada hit another record high in 2025: Jewish advocacy group B’nai Brith says anti-Jewish hatred is being normalized in Canada and its annual count of antisemitic incidents hit another record high last year.
Carney expected to have more Western Canada candidates to pick from for Supreme Court seat: The deadline to apply for an open seat on the Supreme Court of Canada is today, and the Prime Minister is expected to have more candidates to choose from the West compared with the region’s previous vacancy on the top court.
Canadians want Carney government to focus on reducing cost of living in next year, poll shows: A new poll from the Angus Reid Institute suggests Canadians are giving Carney’s government a passing grade in its first year of international relations, but it has failed to meet expectations on affordability issues.
Experts say ‘surveillance pricing’ is a concern, but difficult to prove in Canada: Since federal NDP Leader Avi Lewis called for a ban on “surveillance pricing” last week, the term has become a hot-button issue in legislatures across the country.
Former B.C. premier Mike Harcourt now a developer of missing middle housing: The B.C. NDP premier from 1991 to 1996 is a shareholder in a boutique family-run development company that builds gentle density housing.
Quebec furniture maker to shut down as tariffs hit business: South Shore Furniture, one of Canada’s major furniture makers, is shutting down operations as it buckles under trade pressure.
Prime Minister’s Day: In Ottawa, Mark Carney announced Canada’s first national sovereign wealth fund. He also walked new MPs Danielle Martin, Doly Begum and Tatiana Auguste into the Commons chamber.
Party Leaders: Conservative Party Leader Pierre Poilievre and NDP Leader Avi Lewis held news conferences on Parliament Hill. Green Party Leader Elizabeth May attended Parliament in person and was scheduled to co-host a reception on animal-welfare issues held on Parliament Hill. No schedule released for Bloc Québécois Leader Yves-François Blanchet.
Ministers on the Road: In Montreal, Finance Minister François-Philippe Champagne made an announcement.
GG in Tumbler Ridge: Governor-General Mary Simon is visiting the British Columbia community of Tumbler Ridge, the scene of a mass shooting in February, from Monday through Wednesday. Her agenda includes a meeting with Mayor Darryl Krakowka and municipal staff and councillors as well as meeting with RCMP members, who responded to the incident, and other first responders.
Fréchette in Washington: Quebec Premier Christine Fréchette is in Washington today where she met with Jamieson Greer, the U.S. Trade Representative on the renewal of USMCA.
First meeting of new Canada-U.S. relations committee: Canada-U.S. Trade Minister Dominic LeBlanc today chaired the inaugural meeting of the new Advisory Committee on Canada–U.S. Economic Relations. During the meeting, LeBlanc announced that Eliot Pence, Canadian entrepreneur and founder and CEO of defence-tech company Dominion Dynamics, has joined the committee.
“Every day is a test … in this beautiful game of politics.” — NDP Leader Avi Lewis, at a news conference on Parliament Hill, responding to a question on challenges raised by the exit of one of his MPs.