Ontario\u2019s premier and Toronto\u2019s mayor are making another push on the city\u2019s bid to serve as headquarters for a new international defence bank.\u00a0<\/p>\n
\u201cThere\u2019s only one city in Canada that can truly provide everything the bank needs, and that city is Toronto,\u201d said Premier Doug Ford during a Tuesday morning appearance at Toronto Metropolitan University.\u00a0<\/p>\n
Late last month, it was confirmed that Canada was chosen to host the multinational Defence, Security and Resilience Bank (DSRB).<\/p>\n
The financial institution, modelled in part on the World Bank, will provide NATO members and allies with \u201clong-term, low-cost financing for defence, security and resilience initiatives,\u201d according to a federal release.\u00a0<\/p>\n
With as many as 3,500 direct jobs hanging in the balance, five cities \u2014 Montreal, Ottawa, Toronto Halifax and Vancouver \u2014 have put themselves forward as possible hosts, with the federal government set to make the final call.\u00a0<\/p>\n
\u201cToronto is where Canada\u2019s financial leadership lives,\u201d said Toronto Mayor Olivia Chow on Tuesday. \u201cWe are ready to welcome this institution to our city.\u201d\u00a0<\/p>\n
Chow and other speakers stressed Toronto\u2019s high concentration of bank headquarters, universities, STEM graduates and prominent law and accounting firms.<\/p>\n
\u201cThe stock exchange is here. The bond rating agencies are here. It isn\u2019t to disparage [others], it\u2019s just a fact. We have the assets here to compete,\u201d said Blake Hutcheson, CEO of the OMERS pension plan.\u00a0<\/p>\n
Ford, along with Ontario Shipyards CEO Shaun Padulo, also emphasized the province\u2019s industrial capacity.\u00a0\u00a0<\/p>\n
\u201cOntario is the heart of Canada’s industrial base, and as pressures build on traditional sectors in Ontario, such as automotive, there’s a real opportunity to transition skilled workers,\u201d said Padulo.<\/p>\n
Ford says the province has yet to receive clarity from Ottawa on what criteria will be used to choose the host city, though the province has already chosen a downtown building that could serve as the bank\u2019s interim headquarters before a permanent location is picked out.\u00a0<\/p>\n
Other provinces are also busy making their cases.\u00a0<\/p>\n
At a similar event in Montreal, a group representing key members of Quebec’s financial sector joined several politicians in lobbying for Montreal as the natural choice for the bank’s headquarters. The group touted its strong financial industry and the presence of dozens of international organizations.\u00a0<\/p>\n
Ford says he won\u2019t attack the bids made by other cities, and denied that Ontario politicians are invoking the threat of a Quebec referendum to undermine Montreal\u2019s case.\u00a0<\/p>\n
\u201cI say go Habs. You know, Montreal is great,\u201d said Ford. \u201cThis is a process that the whole country is going through and the Prime Minister will have to make a decision.\u201d\u00a0<\/p>\n
Article source: https:\/\/www.cbc.ca\/news\/canada\/toronto\/ontario-ford-defence-bank-9.7196710?cmp=rss<\/a>\r\n<\/p>","protected":false},"excerpt":{"rendered":"
Ontario\u2019s premier and Toronto\u2019s mayor are making another push on the city\u2019s bid to serve as headquarters for a new international defence bank.\u00a0 \u201cThere\u2019s only one city in Canada that can truly provide everything the bank needs, and that city is Toronto,\u201d said Premier Doug Ford during a Tuesday morning appearance at Toronto Metropolitan University.\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[84],"class_list":["post-332480","post","type-post","status-publish","format-standard","hentry","category-political","tag-political"],"_links":{"self":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/332480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/comments?post=332480"}],"version-history":[{"count":0,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/332480\/revisions"}],"wp:attachment":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/media?parent=332480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/categories?post=332480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/tags?post=332480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}