The Prague Post - Fate of Canada government hinges on tight budget vote

EUR -
AED 4.248105
AFN 75.770596
ALL 92.830359
AMD 423.156353
ANG 2.0703
AOA 1061.880869
ARS 1706.354669
AUD 1.634265
AWG 2.083564
AZN 1.971037
BAM 1.956743
BBD 2.328663
BDT 141.919628
BGN 1.962242
BHD 0.436037
BIF 3456.475084
BMD 1.156733
BND 1.478902
BOB 13.474494
BRL 6.040925
BSD 1.156227
BTN 110.266145
BWP 15.57645
BYN 3.516708
BYR 22671.957183
BZD 2.325221
CAD 1.60514
CDF 2629.253412
CHF 0.941015
CLF 0.026895
CLP 1058.51481
CNY 7.800083
CNH 7.801606
COP 3644.771598
CRC 520.182191
CUC 1.156733
CUP 30.653411
CVE 110.322941
CZK 24.210763
DJF 205.574957
DKK 7.473191
DOP 67.676714
DZD 152.325697
EGP 57.668157
ERN 17.350988
ETB 187.022939
FJD 2.56037
FKP 0.857112
GBP 0.855002
GEL 3.019524
GGP 0.857112
GHS 12.660102
GIP 0.857112
GMD 85.024294
GNF 10156.334049
GTQ 8.821328
GYD 241.836558
HKD 9.077054
HNL 30.994814
HRK 7.534035
HTG 151.232041
HUF 363.017812
IDR 20622.34285
ILS 3.418265
IMP 0.857112
INR 110.600806
IQD 1514.621659
IRR 1590030.052589
ISK 142.166837
JEP 0.857112
JMD 183.099329
JOD 0.820169
JPY 184.272161
KES 149.519689
KGS 101.156702
KHR 4678.254774
KMF 493.925187
KPW 1041.059598
KRW 1638.477341
KWD 0.357061
KYD 0.963523
KZT 536.501043
LAK 26093.576298
LBP 103531.599032
LKR 384.738715
LRD 209.853842
LSL 18.703876
LTL 3.415531
LVL 0.699696
LYD 7.36193
MAD 10.723725
MDL 20.048876
MGA 4977.398953
MKD 61.563397
MMK 2428.460304
MNT 4161.151475
MOP 9.344704
MRU 46.43078
MUR 54.486429
MVR 17.871955
MWK 2004.766235
MXN 19.69164
MYR 4.726298
MZN 73.927211
NAD 18.703715
NGN 1572.659254
NIO 42.552716
NOK 10.922567
NPR 176.436714
NZD 1.963226
OMR 0.441083
PAB 1.156157
PEN 3.899682
PGK 5.193773
PHP 71.098608
PKR 321.135211
PLN 4.306226
PYG 6939.34455
QAR 4.21485
RON 5.236186
RSD 117.376006
RUB 97.377191
RWF 1700.222344
SAR 4.346103
SBD 9.310058
SCR 15.912008
SDG 694.622124
SEK 11.020235
SGD 1.479697
SHP 0.856984
SLE 28.344188
SLL 24256.10146
SOS 660.758451
SRD 43.926343
STD 23942.02751
STN 24.513298
SVC 10.116313
SYP 15039.835978
SZL 18.702146
THB 38.337629
TJS 10.676846
TMT 4.060131
TND 3.389734
TOP 2.785134
TRY 55.381697
TTD 7.833249
TWD 37.04043
TZS 3065.33888
UAH 51.722311
UGX 4295.33015
USD 1.156733
UYU 46.32453
UZS 13763.752692
VES 890.810236
VND 30246.82002
VUV 137.202351
WST 3.162108
XAF 656.273303
XAG 0.017873
XAU 0.000264
XCD 3.126128
XCG 2.08373
XDR 0.81787
XOF 656.307363
XPF 119.331742
YER 274.381102
ZAR 18.703491
ZMK 10411.984809
ZMW 21.850531
ZWL 372.467396
  • RBGPF

    -0.8200

    71.34

    -1.15%

  • CMSC

    -0.0250

    21.45

    -0.12%

  • CMSD

    -0.0100

    21.58

    -0.05%

  • NGG

    -0.1500

    81.05

    -0.19%

  • BCE

    0.1500

    23.47

    +0.64%

  • JRI

    0.0635

    12.61

    +0.5%

  • BCC

    -0.8900

    83.24

    -1.07%

  • RYCEF

    0.0800

    20.79

    +0.38%

  • RIO

    -0.4100

    95.68

    -0.43%

  • RELX

    -0.2400

    34.43

    -0.7%

  • BTI

    -0.2900

    57.06

    -0.51%

  • VOD

    0.2000

    16.42

    +1.22%

  • GSK

    -0.4785

    49.52

    -0.97%

  • AZN

    -0.7900

    156.45

    -0.5%

  • BP

    0.2196

    42.53

    +0.52%

Fate of Canada government hinges on tight budget vote
Fate of Canada government hinges on tight budget vote / Photo: ANDREJ IVANOV - AFP/File

Fate of Canada government hinges on tight budget vote

Canadian Prime Minister Mark Carney's Liberal government faced potential collapse on Monday, with parliament set to vote on a budget he insists is essential to kickstart the country's tariff-battered economy.

Text size:

But hours ahead of the decisive vote in parliament, Liberals voiced optimism that parliament would approve Carney's spending package and avert a snap election.

Carney was elected to a full term in April to stare down US President Donald Trump's protectionist tariffs, but his Liberal Party fell just short of a majority.

To pass the budget, the Liberals required support from two opposition lawmakers -- or get abstentions.

They secured at least one opposition vote on Monday, when the lone Green Party lawmaker, Elizabeth May, confirmed she would side with the Liberals, after Carney promised that Canada would meet its commitments under the Paris Climate Accords.

Carney has said the budget offers a "generational" opportunity to invest in Canada's economic future, bolstering self-reliance and reducing dependence on trade with the United States.

"Now is not the time to be cautious, because fortune favors the bold," Carney said last week.

Opposition leader Pierre Poilievre has panned Carney's deficit-expanding proposals, insisting that his entire Conservative caucus will vote against what he calls a "credit card budget."

Even if the Conservatives unanimously vote no, the Liberals could still squeak by.

The left-wing New Democratic Party -- which performed dismally in April's election, has no permanent leader, and is in financial debt -- may prove reluctant to force Canadians back to the polls.

NDP lawmakers were quiet about their voting intentions on Monday.

Ahead of the vote, multiple Liberal lawmakers told reporters they had reason to be encouraged.

"I don't see any universe in which the government falls," Sean Casey, who represents a constituency in the Atlantic Prince Edward Island province, said.

"I'm pretty confident we're still going to be here later this week."

Justice Minister Sean Fraser said he was "optimistic."

"Nobody at all is looking to send us back to the polls."

- Tariff pain -

Carney has maintained that aggressive deficit spending is necessary to offset the damage caused by the Trump administration's trade policies.

The vast majority of bilateral trade remains tariff-free -- under the terms of the existing North American trade pact -- but Trump's levies targeting key sectors like autos, aluminum, and steel have hit Canada hard.

Carney said estimates indicated that "US tariffs and the associated uncertainty will cost Canadians around 1.8 percent of our GDP."

The prime minister, a former central banker, has said investments in Canada's military and infrastructure will help improve economic sovereignty, repeatedly warning that relations with the United States are not going to return to a pre-Trump normal.

"It is a time to get big things done for Canadians, and get them done fast."

- Appetite for elections? -

The budget has faced sharp criticism, including over a near doubling of the deficit from last year, reaching Can$78.3 billion (US$55.5 billion).

The NDP has raised alarm about a lack of support for workers while the Bloc Quebecois, which promotes independence for the French-speaking province, has called the budget "a Liberal deficit with Conservative ideas."

But polls show that a majority of Canadians do not want new elections so soon after the last round.

A November survey from the Leger firm said only one in five Canadians wanted an election now or "as soon as possible."

Half of Canadians surveyed by Leger said they were satisfied with Carney's leadership, and his job approval rating stood at 52 percent.

In multiple head-to-head surveys, the prime minister is comfortably beating Poilievre.

C.Novotny--TPP