Prime Minister Mark Carney’s promise to boost defence could deliver massive profit gains for companies but the big question is, where will the money come from?

The Carney government recently announced plans to raise Canada’s military budget to $150 billion by 2035 to meet a new NATO target of five per cent of GDP, the country’s largest increase since the Second World War.

The current budget sits at $62.7 billion after Ottawa added $9 billion this year. Some economists are skeptical about Canada reaching its target.

“To increase this defence spending to the level they’ve committed to will ultimately lead to larger deficits unless they reduce spending elsewhere or raise revenues,” Randall Bartlett, deputy chief economist at Desjardins told BNN Bloomberg in an interview.

Carney stated military investment will be funded through a combination of accelerated government spending, prioritized domestic manufacturing, and aligned portions of the investment with existing or planned resilience-building initiatives.

Bartlett thinks it will be difficult for the government especially as Canada has struggled to reach two per cent of GDP on defence.

Researchers at the conservative think tank Fraser Institute outline three options: raise taxes, borrow money, or cut spending in other areas. Without these, Canada’s deficit, which is already projected at $65 billion this year could climb, eroding investor confidence.

“They’re going to have to make a tough decision one way or another,” Jake Fuss, director of fiscal studies for the Fraser Institute told BNN Bloomberg in an interview.

“People generally don’t like when you reduce spending, people don’t generally like when you raise taxes.”

Companies look forward to funding

MDA Space, a Brampton-based aerospace company, which already works with the government, says additional contracts will give business a major boost, which is necessary for Canadian companies.

“I think the commitment to spend more on defence is excellent,” Mike Greenley, CEO of MDA Space told BNN Bloomberg in an interview.

“It was a precondition, I feel, for overall Canadian trade and export globally that Canada carry its weight and do its part in overall defence of not only our country, but in our participation with allies.”

Publicly traded defence companies, like MDA Space, Bombardier, CAE Inc. and Calian, are also well-positioned to capitalize through government contracts.

“We have over a $20 billion pipeline of opportunity over the next five years, which is global in nature and highly commercial,” said Greenley.

Where could the funding come from?

The Fraser analysis states the government could raise taxes but that inhibits economic growth and the prosperity of Canadians by reducing the incentives to work, save, invest, or start a business.

Another option is borrowing, which the Fraser Institute states can burden future generations with debt repayment, likely through eventual tax hikes.

“The government needs to move away from borrowing or tax hikes and instead reprioritize spending,” said Bartlett.

There could also be cuts to social service programs. Researchers suggest the government could cut spending in national dental care, pharmacare and daycare to defence.

Further savings can be found by reducing the number of bureaucrats, eliminating corporate welfare and dropping electric vehicle subsidies.

Carney has said any reduction of the size of the federal public service will “happen naturally through attrition.”

An expanded defence budget may lift military contractors but strain the broader economy.

Investors will watch Budget 2025 for clues on how Ottawa plans to finance the buildup, and which sectors emerge as winners or losers from Canada’s massive defence expansion.

Porsche is recalling more than 3,211 vehicles in Canada due to safety concerns, according to a Transport Canada notice.

This recall replaces Transport Canada recall No. 2023-313 that was first published in May 2023.

According to the notice, the repairs by a Porsche dealership from the previous recall, may not be effective. As a result, a second repair may be required on certain vehicles.

“On certain vehicles, the high-voltage electric heater could fail. If this happens, you may experience reduced cabin heat, and the windshield defrost system may not work properly,” the notice reads.

“A windshield defroster that doesn’t work may cause reduced visibility and increase the risk of a crash.”

The affected model years are:

• Porsche Taycan, 2020, 2021, 2022, 2023, 2024
• Porsche Taycan Cross Turismo, 2021, 2022, 2023, 2024
• Porsche Taycan Cross Turismo Turbo, 2021, 2022, 2023, 2024
• Porsche Turbo, 2020, 2021, 2022, 2023, 2024

Porsche will notify owners by mail and advise them to take their vehicle to a dealership to replace the passenger compartment high-voltage electric heater with an improved part.

The notice notes that for certain vehicles, Porsche will first install a new heater of the same design as an interim fix.

In these cases, once the final repair is available, Porsche will again contact owners by mail to have the improved part installed.

A new border security bill features controversial adjustments to Canada’s immigration process that has upset lawyers and advocates.

Bill C-12 would give authorities the power to cancel or suspend visas, as well as work or study permits, if it is in the “public interest.” But “public interest” is “code for whatever the government wants it to mean at that time,” according to immigration lawyer Chantal Desloges.

“I think every Canadian should be concerned about this bill, even if they think immigration doesn’t affect their life directly,” Desloges told CTV Your Morning on Thursday.

‘Completely arbitrary’

C-12 opens the door to unnecessary challenges for immigrants and refugees, Desloges argued. Under the law, refugees would not be able to access the necessary government hearings if they don’t apply for asylum within a year of entering Canada, a move the lawyer suggested was short-sighted.

“Suppose I was a Ukrainian citizen who visited Canada ten years ago,” Desloges said. “Why should that then bar me (after the Russia-Ukraine war started) from making a refugee claim, now that the situation has completely changed?”

“What does my entry into Canada more than a year ago have to do with what’s going on in my country of origin now?” she continued. ”It’s completely arbitrary.”

The Canadian Immigration Lawyers Association echoes Desloges’ comments, warning that C-12 grants “excessively broad” powers. They criticized the definition of “public interest,” warning that the bill gave the government the power to cancel visas, permits, and permanent residencies without giving people “notice or opportunity to respond.”

C-12 would add more stress to the refugee system, not ease it, the association warned.

“The Bill does nothing to address the untenable IRB backlog of unheard refugee claims,” they wrote on Oct 16.

‘Pleasing President Trump’

Some critics say that C-12 has the same problem that Bill C-2, a similar piece of legislation, had.

“The story of this legislative package is the same today as it was on day one of Bill C-2’s introduction; it’s about pleasing (U.S.) President (Donald) Trump,” said Matt Hatfield, executive director of OpenMedia. Hatfield issued his statement after more than 300 civil society organizations came together in June to criticize the Bill C-2, C-12’s sister legislation.

Some argue that C-12 is a repackaging effort designed to skip past the “overwhelming opposition” to C-2. Bill C-2 had previously faced criticism over the expanded powers it gave to law enforcement agencies.

“C-12 leaves intact the measures to block refugee hearings, impose arbitrary retroactive one-year bars, and grant ministers mass immigration status-cancellation powers,” said Karen Cocq, spokesperson for the Migrant Rights Network.

C-2 was originally presented as the “Strong Borders Act,” a move that Amnesty International said was designed to appease Trump. The government ended up creating C-12 in order to pass some of C-2 faster, but will continue working on passing the original law. However, C-12 was an “exact copy of the provisions attacking refugees and migrants in Bill C-2,” Amnesty International said.

U.S. President Donald Trump announced an additional 10-per-cent tariff on Canada on Saturday because the Ontario government didn’t immediately pull down an anti-tariff ad it was running in U.S. markets.

The tariff will be “over and above what they are paying now,” Trump said Saturday on his social media platform Truth Social.

“Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD,” Trump said on the platform as he flew aboard Air Force One to Malaysia.

The Ontario government launched the $75-million anti-tariff ad campaign featuring former U.S. president Ronald Reagan earlier this month and it was scheduled to run until the end of January.

Late Thursday, Trump announced he was ending trade talks with Canada over the ad. Ontario premier Doug Ford announced Friday the government would pull the ad in hopes of getting trade talks restarted, but not until Monday.

“Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10 per cent over and above what they are paying now,” Trump said in his post.

It was not immediately clear what the new tariff would be applied to, or when it would take effect. Neither the White House nor Prime Minister Mark Carney’s office have responded to a request for comment.

Trump has imposed multiple rounds of tariffs on most countries since taking office in January.

On Canada, the main tariff is 35 per cent on all goods not compliant with the Canada-U.S.-Mexico Agreement, the new continental free trade pact Trump reached with Canada and Mexico during his first term.

There are also sectoral duties ranging mostly from 25 to 50 per cent on several products including steel, aluminum, copper, softwood lumber and automobiles.

Flavio Volpe, president of the Automotive Parts Manufacturers’ Association, said in a social media post Saturday the additional tariff will hurt Americans.

“To be clear, a TV commercial is about to cost American consumers about $50B because he’s mad,” Volpe said on X.

Canada’s auto sector is among those hit hardest by Trump’s tariffs.

California Gov. Gavin Newsom, who has engaged in a highly public battle with Trump, also said the tariffs will cost the U.S. more, accusing Trump of “punishing the American people with higher costs” because he “got his feelings hurt.”

Carney is already in Malaysia at the ASEAN summit. He and Trump do not currently have a plan to meet or speak during the summit, and Trump told reporters travelling with him that he had no intention of meeting Carney there.

Standing on the tarmac outside Ottawa’s airport Friday morning before leaving for Asia, Carney said Canada can’t control a U.S. trade policy that has “fundamentally changed.” He said his officials and colleagues have been working with Americans on constructive and detailed negotiations on sector-specific tariffs, like steel, aluminum and energy, noting “a lot of progress has been made.”

Ford has said he decided to pull the campaign after speaking with Carney. But the premier also said he’d only stop running the ads after the weekend, so they could play throughout the first two World Series games and get in front of a massive American audience.

A spokeswoman for Ford said in an email following Trump’s announcement of the new 10-per-cent levy that the premier’s statement from Friday stands.

The ad features footage of former president Ronald Reagan warning about the economically devastating effects of tariffs. lt was shown again during the broadcast of the World Series on Friday night where the Toronto Blue Jays defeated the Los Angeles Dodgers.

As he departed the White House for Asia Friday night, Trump blasted the ad as “crooked” and “possibly AI.”

He’s said it misrepresented the position of Reagan, a two-term president and a beloved figure in the Republican party. But Reagan was wary of tariffs and used much of the 1987 address featured in Ontario’s ad spelling out the case against tariffs.

A New York Times analysis of the ad and the original speech, published on Saturday, concluded while the ad reordered some of the parts of the 1987 speech, it did not misrepresent or alter what Reagan said.

The ads began airing last week and have run on right-wing networks that cater to Republican audiences and Trump supporters, such as Newsmax and Fox News.

Trump has also complained the ad was aimed at influencing the U.S. Supreme Court ahead of arguments scheduled for next month that could decide whether Trump has the power to impose his sweeping tariffs, a key part of his economic strategy.

When the ads were launched, Ford said he intended to blast Reagan’s anti-tariff message on repeat to “every Republican district there is right across the entire country.”

Ford said Friday that the intention of the ads was to start a conversation about the kind of economy that Americans want, and the impact of tariffs on workers and businesses.

“We’ve achieved our goal, having reached U.S. audiences at the highest levels,” Ford said in a media statement Friday.

A senior government official says Prime Minister Mark Carney was not given advance notice when U.S. President Donald Trump announced an additional 10 per cent tariff on Canada.

The prime minister is attending the opening ceremony of the ASEAN conference in Malaysia. The senior official travelling with Carney also said that the prime minister has not spoken to Trump since he halted the trade negotiations.

The move came after the Ontario government ran an anti-tariff ad featuring former U.S. president Ronald Reagan in U.S. markets during the World Series.

Trump said on Truth Social the ad was “to be taken down, IMMEDIATELY,” and called it a “FRAUD,” adding the tariff would be “over and above what they are paying now.”

The Ontario government launched the $75-million campaign earlier this month, scheduled to run until the end of January. The province said it would remove the ad on Monday after Trump called off trade talks.

Canada-U.S. Trade Minister Dominic LeBlanc said in a social media post Saturday that the federal government remains focused on maintaining dialogue with Washington.

“As the Prime Minister said yesterday, we stand ready to build on the progress made in constructive discussions with American counterparts over the course of recent weeks,” LeBlanc said on X.

“We will remain focused on achieving results that benefit workers and families in both the United States and Canada, and that progress is best achieved through direct engagement with the U.S. administration — which is the responsibility of the federal government.

The Foo Fighters are coming to Regina in the fall of 2026.

Tickets for the Sept. 15, 2026 show at Mosaic Stadium will officially go on sale at 10 a.m. Oct. 31.

Ticket prices will range from $59.50 to $299.50.

“It’s gonna be big, as you heard. It’s gonna be absolutely incredible. It is going to be over the top, it will be loud. It will be 41,000 people visiting Mosaic Stadium,” REAL District president and CEO Rick Bennett told reporters Thursday morning.

The concert will also feature performances from Queens of the Stone Age, with the possibility of other bands and performers being added to the lineup.

“What’s really unique is that we have approximately 7,000 seats, standing room on the floor, so that’s a great indication of the horsepower of this event and the production side being absolutely entertaining and engaging,” Bennett added.

The announcement comes a day after a cryptic message was displayed at Mosaic Stadium’s video board - which displayed the Foo Fighters emblem along with the date of the announcement.

The show in Regina is one of only four concert stops the Foo Fighters will make in Canada as part of their upcoming stadium tour across North America.

“There’s going to be like 25 tour buses rolling through, it’s going to be a big set. And the fact of the matter that we’re one of four places in Canada to get it, and one of 12 in North America, is absolutely huge,” said Foo Fighters superfan Andrew Sutton.

The Foo Fighters were slated to perform in Regina at the Brandt Centre in 2022. However, the tour was cancelled prior to the Regina concert date following the death of the band’s drummer, Taylor Hawkins.

Sutton had tickets to that cancelled Saskatoon show, and admits that after Hawkins’ passing, he thought the band might call it quits.

“I thought to myself, if I’m being super honest, I didn’t think we were ever going to be able to see them again, because I just flat out thought they were done. Especially with how long of a history they had, to lose a guy like that,” he said.

When asked about the venue change, from the Brandt Centre to Mosaic Stadium, Bennett pointed to the changes within the organization and the world since the initial announcement.

“[The Brandt Centre is] a much smaller venue with 6,000 seats. We feel much more confident of Regina’s appetite for live entertainment, for large scale venues, and the band’s popularity as well,” he said.

“You stitch those two together at the Mosaic Stadium, being the most modern CFL Stadium in Canada, is an absolute perfect match.”

The last major show held at Mosaic Stadium was dual performances from Garth Brooks in August of 2019.

Speaking with Your Morning Saskatchewan, Mayor Chad Bachynski shared his excitement on the announcement and credited the Regina Exhibition Association Limited (REAL) with their work in attracting the band to the city.

“I think we’re really seeing a turning point for REAL,” he said.

“People have talked all the time about what’s coming to the stadium for a concert, I’ve heard a lot of feedback in that regard. So, to see that come to life now and I think this is some positive momentum going forward.”

For Sutton, his love of the Foo Fighters stemmed from his parents introducing him to Nirvana, when current Foo Fighters frontman Dave Grohl was Nirvana’s drummer.

Now Sutton is passing on the family tradition to his younger sister, whom he says he will be attending the show with next year.

“I passed down the Foo Fighters to her, so the fact that she gets to see them live at 16 years old is going to be such a cool experience for her because it’s a lasting lifetime memory and there’s going to be a time in her life when the Foo Fighters will never tour again, right?”

Saskatchewan politicians levelled accusations of preening and reckless behaviour as they debated China’s punishing tariffs on Canadian canola in the legislature Thursday.

The furor was over the Saskatchewan Party government changing an Opposition NDP motion, which called on the federal government to remove its 100-per-cent tariff on Chinese electric vehicles and restore market access for Canadian agriculture products.

Premier Scott Moe’s caucus struck out the NDP’s wording and added their own version that called for the same thing. His caucus also added a line commending Moe’s leadership on the file.

The motion passed with the Saskatchewan Party majority voting in favour, while the NDP voted against.

New Democrats said the motion’s congratulatory wording of the premier was pompous and arrogant.

“They’re making it all about themselves and trying to fluff the feathers of the premier ... at a time where we need to have the backs of producers,” Trent Wotherspoon, the party’s deputy agriculture critic, told the assembly.

“We see ... the front bench prop up and lift the premier while the backbench fans him and feeds him fruit.”

In March, China imposed tariffs on Canadian canola oil and meal, peas, pork and some seafood products. It later slapped Canada with a hefty levy on canola seed, widely seen in response to Ottawa’s 100-per-cent tariff on Chinese EVs.

Moe defended the motion’s new wording, telling the assembly he has worked hard to promote the interests of farmers at a time of economic uncertainty.

He fired back at New Democrats, accusing them of wanting to close trade offices. He called it a reckless move, and argued they were silent on China’s tariffs until a few months ago.

“Why ... did it take (the NDP) seven months to defend Saskatchewan?” Moe said. “This government will always support the Saskatchewan agriculture industry.”

It was the first chance for politicians to debate each other this sitting after Moe’s government tabled its throne speech Wednesday.

Later Thursday, NDP Leader Carla Beck accused Moe of lying about her position on trade offices. In last year’s election campaign, she called for their restructuring.

“The facts matter, and I understand why the premier wants to distract from the fact that he’s been flip-flopping on canola,” Beck told reporters.

“What I don’t understand is why he is choosing to play partisan games instead of sending a clear and united message to the federal government.”

In August, Moe had said Canada should remove the EV tariff only if it can have a positive relationship with the United States. He later said it’s not easy for Ottawa to get rid of the levy.

Moe later told reporters Thursday he’s been clear about his position all along.

“It isn’t easy (to remove the EV tariff), but it’s necessary,” he said.

He said Canada will want to know how the United States would respond should it remove the levy. Ottawa had initially applied the tariff in lockstep with its southern neighbour to protect North American auto manufacturing.

“This is not a straight line ... and that’s why we need to be negotiating at both tables,” Moe said. “Those are tables for our federal government to be at.”

The Saskatchewan NDP is accusing the provincial government of laying the groundwork for the privatization of SaskPower.

The allegation surfaced during the first question period of the fall sitting of the legislature, as SaskPower reviews its plans for nuclear energy development in the province.

“This is actually sincerely something that I’m quite concerned about,” said NDP MLA Aleana Young. “We saw the Sask. Party roll out a report on SaskPower and right there on page seven is a commitment to review the ownership of power generation here in Saskatchewan.”

The NDP points to a SaskPower governance review that includes examining future ownership of nuclear power production.

The government says it’s too early to make decisions and that options remain open — including having SaskPower or a private company build a small modular reactor.

“We have natural gas plants today that are owned by SaskPower. We have natural gas plants where we simply buy the power from. Largely, the renewable sector is not owned by SaskPower,” said Premier Scott Moe.

“We are not selling SaskPower. We are not selling the major Crown corporations at any time, nor have we ever discussed it. The NDP may have discussed it, but we have not.”

While nuclear power remains years away in Saskatchewan, Moe says it’s premature to determine what ownership model might be used.

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We’re committed to providing our audience with a listening experience like no other! To maintain this standard, we’re excited to announce a major update to our Broadcast Network.

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