Canadian economy starts to lose momentum, Conservatives call for hearing into BC Ferries funding, Bill C-5 becomes law

[00:00:01] Speaker A: And now News Takeaway. [00:00:12] Speaker B: Connect FM 91.5 News Takeaway segment Good morning, Vijay. [00:00:20] Speaker A: Good morning. Connect Null Connect. [00:00:27] Speaker B: All is well. Extra long weekend. [00:00:33] Speaker A: No complaints. [00:00:33] Speaker B: No complaints. We'll be working on Monday. [00:00:41] Speaker A: Something is better than nothing. Glass is half full. [00:00:55] Speaker B: Glass is always full. [00:00:57] Speaker A: Yeah. [00:01:20] Speaker B: You are hired. You are hired with two PISA candidate Canadian economy GDP the numbers stat Canada these are specifically for the month of April finalized numbers Preliminary numbers 0.8% that it was the first month Tariffs trade war in anticipation economic activity businesses Canada which overall Canadian real gdp which is 0.8% Reason manufacturing sector is decline the. [00:02:36] Speaker A: Karana Yeah so manufacturing 1.9% contraction manufacturing manufacturing sector heavily exposed US tariffs manufacturing overall overall goods producing sector 0.6% total GDP percent contribution goods producing sector so contraction that's very substantial very significant. Yes so goods producing sector 0.6% overall decline durable goods manufacturing 2.2% decline non durable goods manufacturing 1.6% services producing industries 0.1% growth but that's very minuscule again. [00:03:30] Speaker B: Overall GDP they make up the weightage. [00:03:35] Speaker A: So wholesale trade overall 1.9% contraction so this is also very significant. [00:03:59] Speaker B: In anticipation of tariffs demand in the month of April Motor vehicle manufacturing which punch point 10%. [00:04:19] Speaker A: Contribution goods producing sector contribution real estate sector so real estate sector 0.1% growth construction 0.1% growth tariffs the anticipation activity 0.1% growth so 0.2% growth so. [00:04:49] Speaker B: March over the course of three months adjustment preliminary numbers economy which 0.8%. [00:05:58] Speaker A: Economy performance but reason Ohiya anticipation the which Panahi inventories built Kitian exactly so ugly interest rate announcement so money markets bank rate no hold. [00:06:39] Speaker B: Second to third quarter economic activity so second quarter we most likely inflation. [00:07:18] Speaker A: Bank of Canada inflation numbers headline inflation number 1.7% economy contributing factor artificially energy prices fair inflation. [00:07:50] Speaker B: Energy food prices most volatile inflation the top and the bottom so core inflation bank of Canada inflation overall so bank of Canada is not going to be easier economy but Donald Trump Federal judges injunctions Supreme Court Supreme Court opinion Supreme Court Donald Trump for example Trump executive order sign birthright citizenship American citizen Banjibi Supreme Court judgment. [00:10:37] Speaker A: Yes the Supreme Court I think it was a Supreme Court Yes Donald Trump they called power California the National Guard deploy Karakdeni Los Angeles without request from Gavin Newsom. [00:11:07] Speaker B: So Supreme Court birthright citizenship the ruling Supreme Court Depot tensions. [00:11:19] Speaker A: Are related we recently ruling I see Obi Donald Trump temporary restraining orders judges but ultimately final orders. [00:11:35] Speaker B: JJ so Supreme Court lower courts birthright citizenship being one of them Businesses no individuals no Extortion General Public Safety Minister Gary Begnet anonymous step line crime stoppers active investigation. [00:13:12] Speaker A: Yeah so Chief normal sps the Surrey Police Service the extortion investigations dollar announce dollar is campaign. [00:13:45] Speaker B: Radio television online gun and gang violence action funder gang and guns and unrelated crime. [00:14:56] Speaker A: Sort of South Asian community so Public safety Minister I don't. [00:15:12] Speaker B: Have an answer for that yeah yeah. [00:15:17] Speaker A: I don't have an answer for that reason he could have given a better. [00:15:23] Speaker B: Answer yeah yeah and especially police authorities investigative agencies social media posts Public safety Minister yes you are right it felt but you don't want to say it. [00:16:00] Speaker A: Forest Minister Transport Minister that's fine okay Public safety minister why this particular community? Well I don't have a particular answer for that I don't have an answer for that it was slightly lacking. [00:16:49] Speaker B: Lawrence terrorist entity A non answer is not an answer yeah correct 8477 crime stoppers illegal drugs fraudulent insurance claim Crime stoppers line the 1-800-222-8477 Transportation Minister Mike Farnworth so Canada Infrastructure bank in fact billion dollar low interest loan 8.8% take loan BC Ferries new advance Infrastructure bank project. [00:19:36] Speaker A: Conservatives they did a transport critic Transport Committee Infrastructure bank is loan low interest loan bank the Canada infrastructure bank the CEO low interest loan 1.8% billion dollar the loan 650 million dollar interest cost so Federal grant low interest loan. [00:20:55] Speaker B: Cost saving Federal Sarkar Sadka BC Ferries. [00:21:08] Speaker A: Throughout the process procurement throughout the process we are you know trending towards China at the same time Canada Infrastructure bank of course billion dollar the loan Koibi Bank Canada Infrastructure bank. [00:21:43] Speaker B: And by extension. [00:21:54] Speaker A: Transport Minister Christian East Coast east coast relationship East Coast Marine Atlantic east coast relationship Then frankly I would say mind your own business. [00:23:31] Speaker B: This is very. [00:23:38] Speaker A: East other east coast marine Atlantic no dates or million dollars can they fair mind your own business so Canada Infrastructure bank will loan low interest loan. [00:24:14] Speaker B: Interest saving Donald Trump the one big beautiful bill public Donald Trump promise there is a reason the one big beautiful build Rakyagaya of course beautiful shop the Trump big huh Big and beautiful Canadians retirement funds invest Canadians Investments Stock Market U.S. stock Index Preferential tax treatment investment American stock retirement savings revenge tax U.S. treasury Secretary Scott Besantan Republicans one big Beautiful building Section 899 Section 899ambiguities so clarity. [00:26:46] Speaker A: So Republicans so Section 899 cannot drop Karangay offending countries American companies unfair taxes Kyoki Canada digital services tax Bolda exactly so digital services tax Laguta Hochok so digital services tax a pillar two taxes basically minimum corporate tax level 15% safe tax havens level playing field OEV company or the. [00:28:05] Speaker B: Headquarter at least OECD corporate tax deny PANA incentive KCB company headquarter. [00:29:08] Speaker A: Yeah Democrats they were pretty neutral about it yes Republicans know individuals foreign businesses depending from company to company so so treasury secretary Scott common minimum corporate tax. [00:30:07] Speaker B: Global corporate minimum tax rate especially American companies American. [00:30:13] Speaker A: Companies apparently section 89 Haga revenge tax apparently Republican Congress. [00:30:46] Speaker B: Digital service tax Amazon no Netflix no Disney online platforms J digital service tax section 899 Canadian investors American stocks digital service tax. [00:31:57] Speaker A: Things are moving in the right direction 30 day deadline announced G7 Donald Trump. [00:32:42] Speaker B: Chief Negotiator Lead trade Negotiator Donald Trump Tariffs no matter Canada Exactly Business groups business leaders closely watch Kardeni yeah. [00:33:41] Speaker A: Dairy sector supply management protection system Supply management system tariff rate quotas. [00:33:51] Speaker B: In fact the very first one that happened Oho supply dairy supply chain management in the dairy and the Poultry Sector Negotiation 1 Canadian Economy act without any amendments extending recorded vote. [00:35:43] Speaker A: On. [00:35:43] Speaker B: Division we basically on division adopt Karla. [00:35:47] Speaker A: So same House of Commons so house leader. [00:36:17] Speaker B: Nation building projects electricity grids east west energy corridor rail networks road network trade corridors interprovincial trade barriers Natural resources minister Tim Hodgson delays don't delivery Alipasino Hoyana we projects and they focus on any honor we a come focus a kitana certainty businesses vaste investors Vastiki yeah. [00:37:14] Speaker A: So Vijay senators indigenous senator hundred consultation kitijabi information sessions. [00:38:15] Speaker B: Exactly Yes. [00:38:27] Speaker A: World war II tobada crisis Canadians. [00:38:42] Speaker B: Correct now that ship has sailed that ship has sailed. [00:38:45] Speaker A: So economy reform natural resources. [00:39:04] Speaker B: Nation building projects fast track projects is fast tracking shovel ready projects full extent of economic impact they benefit. [00:40:30] Speaker A: Public safety minister justice minister Nikitisi Sean Fraser bail reform legislation. [00:40:45] Speaker B: Correct. [00:40:48] Speaker A: So I think jhono Kari public property public infrastructure. [00:41:22] Speaker B: That'S right have a nice tuttuma long weekend thank you thank you.