The Province of Toronto strikes again

[Proof Sheet]

Originally Posted by J.OT13

For sure. Forget however money was blown on this whole thing so far, we're gonna get sued!

For a fiscal Conservative, he sure loves to waste money on dumb stuff like this, the Conservative Blue license plates, no longer charging for license plates, cutting the gas tax, killing cap-and-trade.

You forgot the elusive 'buck a beer' and the ability to drink in tailgating parties...societal game changers as far as most of us should be concerned

Last night, I was behind a car at night and those blue license plates are basically impossible to read the #'s from the rear. How can that have been missed.

[J.OT13]

Another one bites the dust!

Ontario Labour Minister Monte McNaughton leaving government for private sector

https://www.cbc.ca/news/canada/toron...tion-1.6975088

[skyscraperaccount]

Originally Posted by J.OT13

For sure. Forget however money was blown on this whole thing so far, we're gonna get sued!

For a fiscal Conservative, he sure loves to waste money on dumb stuff like this, the Conservative Blue license plates, no longer charging for license plates, cutting the gas tax, killing cap-and-trade.

Never saw Doug as a fiscal Conservative. He goes where the winds of suburban voters blow him.

[J.OT13]

Originally Posted by skyscraperaccount

Never saw Doug as a fiscal Conservative. He goes where the winds of suburban voters blow him.

He tries to sell himself that way, as a fiscally responsible leader.

[LeadingEdgeBoomer]

The Global Defence Bank. Montreal wants it . Toronto wants it. Ottawa wants it. Doug Ford has thrown all his support behind Toronto rather than treating the Toronto and Ottawa bids equally.

[Dengler Avenue]

https://www.westerninvestor.com/nati...-bank-11637729

I am just thinking:
B.C. is on the coast so it may be militarily vulnerable;
Quebec may see a 3rd referendum on independence so it is politically vulnerable;
Toronto sadly has all other banks near it;
Ottawa has the federal institutes around it.

It's indeed sad that our premiers have all become Toronto-centric (including Dalton McGuinty).

There seems to be no good way of fixing that.

[Truenorth00]

Originally Posted by LeadingEdgeBoomer

The Global Defence Bank. Montreal wants it . Toronto wants it. Ottawa wants it. Doug Ford has thrown all his support behind Toronto rather than treating the Toronto and Ottawa bids equally.

Ottawa was a poor candidate. Poor international connectivity to the main clients in Europe. Doesn't connect to the second largest financial centre in Europe: Frankfurt. No significant financial industry in Ottawa. Heck, our connectivity to Toronto and Montreal isn't that great either. No HSR like you would see in any major European centre. That might have actually made the case better.

Having some defence industry offices (of which a chunk are sales) isn't enough to justify putting 3500 bankers in Ottawa. A lot of the actual manufacturing is in SWO and Quebec. Most notably of things the Europeans are interested in like ammunition, vehicles and sensors.

In any event, I do think Canada is still a bit of a long shot on it. Putting the HQ of a fund that is mostly about recapitalizing European defence manufacturing in a country that has been one of the lowest spending on defence and is not in Europe, would be something.....

[J.OT13]

Originally Posted by Truenorth00

Ottawa was a poor candidate. Poor international connectivity to the main clients in Europe. Doesn't connect to the second largest financial centre in Europe: Frankfurt. No significant financial industry in Ottawa. Heck, our connectivity to Toronto and Montreal isn't that great either. No HSR like you would see in any major European centre. That might have actually made the case better.

Having some defence industry offices (of which a chunk are sales) isn't enough to justify putting 3500 bankers in Ottawa. A lot of the actual manufacturing is in SWO and Quebec. Most notably of things the Europeans are interested in like ammunition, vehicles and sensors.

In any event, I do think Canada is still a bit of a long shot on it. Putting the HQ of a fund that is mostly about recapitalizing European defence manufacturing in a country that has been one of the lowest spending on defence and is not in Europe, would be something.....

Reinstating flights to Frankfurt and adding new connections isn't too complicated. Our financial industry doesn't compare to Montreal and Toronto, but it's there. HSR is coming, but it will be years after this bank opens.

Europe does make more sense for a long list of reasons, but their proximity to Russian aggression could be enough to chose Canada.

With Carney heavily investing in defense, him being an Ottawa MP and cutting Federal jobs, I could see him back Ottawa instead of Toronto. We're still a long shot of course, but it's not impossible we get picked.

[Truenorth00]

Originally Posted by J.OT13

Reinstating flights to Frankfurt and adding new connections isn't too complicated. Our financial industry doesn't compare to Montreal and Toronto, but it's there. HSR is coming, but it will be years after this bank opens.

The "bank" (really a fund) is due to start operating in a few months. Infrastructure that is years or decades away (HSR to Toronto may open in 2040) isn't really useful. And it's not just flights to Europe. Ottawa doesn't even have a good schedule of flights to every finance, tech and defence manufacturing hub in the US.

Originally Posted by J.OT13

Europe does make more sense for a long list of reasons, but their proximity to Russian aggression could be enough to chose Canada.

I keep seeing posts like these from Canadians. And it's bizarre. Canadians are acting as though it's World War II and Europe can't sustain production. It's self-interested fiction. Russia isn't about to start bombing random offices and factories in Western Europe. Not without massive repercussions.

Originally Posted by J.OT13

With Carney heavily investing in defense, him being an Ottawa MP and cutting Federal jobs, I could see him back Ottawa instead of Toronto. We're still a long shot of course, but it's not impossible we get picked.

It's not the Olympics. Carney doesn't have to nominate the Canadian contender. Ottawa can bid without Ford's support. It's the board of the bank that determines where the bank will be based. And the board has one Canadian on it (Rick Hiller) who is intimately familiar with Ottawa and a second European banker who has worked in Toronto. I'm sure Ottawa will be given a fair hearing if it bids.

[LeadingEdgeBoomer]

Originally Posted by J.OT13

Reinstating flights to Frankfurt and adding new connections isn't too complicated. Our financial industry doesn't compare to Montreal and Toronto, but it's there. HSR is coming, but it will be years after this bank opens.

Europe does make more sense for a long list of reasons, but their proximity to Russian aggression could be enough to chose Canada.

With Carney heavily investing in defense, him being an Ottawa MP and cutting Federal jobs, I could see him back Ottawa instead of Toronto. We're still a long shot of course, but it's not impossible we get picked.

Some notes:

December 8, 2025; Ottawa–Gatineau, Canada— Today, leaders from across Canada’s Capital Region announced a major step forward in building the region’s opportunity and impact in Canada’s national and global defence innovation economy: General (Ret’d) Rick Hillier will serve as Honourary Chair of the National Defence Innovation Hub Task Force for Canada’s Capital Region. This appointment further strengthens and accelerates the execution of the Capital Region’s Defence Innovation Hub Strategy, which aims to bolster Canada’s sovereign capability, accelerate innovation, and enhance support for our Forces, our country, and our Allies.

As part of this work, the Task Force will guide the region’s official bid to host the Global Defence & Security Resilience Bank (DSRB) headquarters, a diplomatic institution that will mobilize critical capital, strengthen sovereign capability, and reinforce the resilience, security, and economic strength of allied nations. This bid directly advances Goal #8 of the Capital Region’s Defence Innovation Hub Strategy: Grow and attract the defence capital required to fuel the growth and success of entrepreneurs and companies.

In a joint written declaration, the Mayors of Ottawa and Gatineau formally invited anchor allied nations to convene the charter negotiations for the global (DSRB) here in Ottawa–Gatineau in early 2026, and expressed their commitment to hosting the headquarters of this once-in-a-generation institution.

For an institution designed to pool allied sovereign capital, leverage it up to 25X, and deploy billions into the companies, technologies, and infrastructure that safeguard our nations, proximity to embassies and NATO defence attachés isn’t an advantage. It’s a requirement.

Ottawa has 130 embassies and their are 25 NATO attaches in Ottawa.

[Truenorth00]

Originally Posted by LeadingEdgeBoomer

Ottawa has 130 embassies and their are 25 NATO attaches in Ottawa.

It's a good talking point for Ottawa. But the purpose of this bank is to fund defence industry. Proximity to defence manufacturing and finance is the main criteria. Not some diplomat from home they might talk to once a month. It's such an Ottawa thing to lead with the number of embassies and attachés instead of the number of defence manufacturing facilities in the city.

If something comes from this bid, I hope it's our politicians understanding how much their underinvestment in infrastructure and services hurts economic attractiveness. The same folks who can't get proper transit to the Carling campus are going to build quality of life for 3500 bankers? In what? A business park in Kanata?

[LeadingEdgeBoomer]

Originally Posted by Truenorth00

It's a good talking point for Ottawa. But the purpose of this bank is to fund defence industry. Proximity to defence manufacturing and finance is the main criteria. Not some diplomat from home they might talk to once a month. It's such an Ottawa thing to lead with the number of embassies and attachés instead of the number of defence manufacturing facilities in the city.

If something comes from this bid, I hope it's our politicians understanding how much their underinvestment in infrastructure and services hurts economic attractiveness. The same folks who can't get proper transit to the Carling campus are going to build quality of life for 3500 bankers? In what? A business park in Kanata?

The DSRB is not a commercial bank. It is expected to be structured along the lines of The World Bank. Countries will contribute to its pool of money and have a vote in its decisions. Some commercial banks ,both in North America,have announced that they will offer the DRSB financial and technical support. The DRSB will draw on the capital markets expertise of the participating banks and will issue AAA-rated bonds for countries to fund their defence production and procurement. It will also support defence modernisation and supply chain resilience across Europe and the Indo-Pacific region.

The World Bank has its HQ in Washington,DC, close to government and embassies. So is the IMF in Washington . Neither is situated in a financial centre such as NYC.

[Truenorth00]

Originally Posted by LeadingEdgeBoomer

The World Bank has its HQ in Washington,DC, close to government and embassies. So is the IMF in Washington . Neither is situated in a financial centre such as NYC.

The World Bank and IMF are in DC because their largest contributor and the manager of the world's reserve currency are in DC. Canada is probably not even the largest contributor to this fund. And we definitely aren't the member with the largest defence industrial base.

[LeadingEdgeBoomer]

[QUOTE=LeadingEdgeBoomer;10529126]The DSRB is not a commercial bank. It is expected to be structured along the lines of The World Bank. Countries will contribute to its pool of money and have a vote (via its embassies?)in its decisions. Some commercial banks ,both in North America,have announced that they will offer the DRSB financial and technical support. The DRSB will draw on the capital markets expertise of the participating banks and will issue AAA-rated bonds for countries to fund their defence production and procurement. It will also support defence modernisation and supply chain resilience across Europe and the Indo-Pacific region.

The World Bank has its HQ in Washington,DC, close to government and embassies. So is the IMF in Washington . Neither is situated in a financial centre such as NYC.

[LeadingEdgeBoomer]

Originally Posted by Truenorth00

The World Bank and IMF are in DC because their largest contributor and the manager of the world's reserve currency are in DC. Canada is probably not even the largest contributor to this fund. And we definitely aren't the member with the largest defence industrial base.

For sure. Europe would likely be the choice as Europe will be a larger contributor and Europe has a bigger defence manufacturing industry as well. It will probably not be in the US because of the current tensions. However, if Canada is chosen, for some reason unknown at his time, Ottawa would be a good choice to host it.