Eight stories in the news for Tuesday, Oct. 4
VANCOUVER REALTORS PREDICT SALES DATA TO SHOW DROP
Realtors are predicting a steep decline in detached-home sales when the Real Estate Board of Greater Vancouver releases sales figures for September later today. The numbers are expected to give further insight into the effects of British Columbia's foreign-buyers tax, which came into effect Aug. 2 after the market was already starting to cool.
FEDS SEEK TO EASE HOUSING MARKET RISKS
The federal government is taking steps to ease emerging risks in the housing market. Starting Oct. 17, all insured mortgages will have to undergo a stress test to determine whether a borrower could still make mortgage payments if faced with higher interest rates or less income. On Nov. 30, several eligibility rules will tighten on mortgages where borrowers made down payments of at least 20 per cent of the purchase price.
PROVINCES, FEDS CLASH OVER CARBON PRICE
Frustrated environment ministers walked out on their federal counterpart Monday after Prime Minister Justin Trudeau promised to impose a carbon price if provinces and territories won't do it themselves. He gave the provinces two options: either impose a direct price on carbon that meets or exceeds the national floor price, as British Columbia has done, or set up a cap and trade system, such as Ontario and Quebec are developing.
DROP COSTLY BIOFUEL SUBSIDIES, REPORT SAYS
A blue-chip group of economists says federal and provincial biofuel subsidies are an expensive experiment and it's time to let them expire. A study released today by Canada's Ecofiscal Commission finds that ethanol and biodiesel policies cost consumers and governments about $640 million a year — while cutting Canada's greenhouse gas emissions by about three million tonnes annually.
MANY MILITARY SEX OFFENCES INVOLVED CADETS
The Canadian Forces says it is taking a close look to ensure there are no policy gaps when it comes to protecting its cadets, as figures show many alleged military sexual offences involved youth in uniform. The figures show 30 per cent of alleged sexual offences reported to military police last year involved cadets. The actual number of complaints has more than doubled — from 19 in 2013 to 39 in 2015.
JUDGE TEMPORARILY MUZZLES MONTREAL PIT BULL BAN
A Quebec judge has temporarily suspended Montreal's controversial pit bull bylaw. Superior Court Justice Louis Gouin heard arguments for a temporary stay and then authorized the immediate suspension of the pit bull-related clauses until 5 p.m. on Wednesday. He is expected to rule before then on whether the law should remain suspended until the legal case being mounted by the Montreal SPCA against it can be heard.
MADELEINE THIEN UP FOR GOVERNOR GENERAL'S AWARD
The accolades continue to pour in for Madeleine Thien, whose latest novel is now in the running for a third major book prize: the Governor General's Literary Award. The Vancouver-born, Montreal-based author was announced Tuesday as one of the five finalists in the fiction category for "Do Not Say We Have Nothing" (Knopf Canada). Thien's book is also on the short lists for the Man Booker Prize and the Scotiabank Giller Prize.
FOR THE BLUE JAYS, IT'S WIN AND ADVANCE OR LOSE AND GO HOME.
The Toronto Blue Jays and Baltimore Orioles lock horns tonight at Rogers Centre in the American League wild-card game. While the Blue Jays had a 10-9 edge in the season series against the Orioles, Baltimore took two of three games from the Jays last week in Toronto. Marcus Stroman will start for Toronto versus Chris Tillman. First pitch is just after 8 p.m. ET.
ALSO IN THE NEWS TODAY:
— A vigil will be held in Ottawa for Inuk artist Annie Pootoogok.
— The Fall Report of the Environment commissioner will be tabled in the House of Commons.
— The International Monetary Fund will release its revised global economic forecast, including for Canada.
— The Senate committee on modernization will release its report "Senate Modernization: Moving Forward Part 1."