• U.K. opts against joining Canada-led defence bank, pledges co-operation

  Source: CBC Politics
  Date: 2026-10-26 14:03:56.0
  Tags: [National, Defence, Finance, Trade]

  The British government has declined Ottawa's invitation to join the Canada-led international Defence, Security and Resilience Bank (DSRB), choosing instead to pursue its own Multilateral Defence Mechanism. Despite differing institutional paths, both countries agreed to establish a cooperation framework to coordinate investment opportunities and work together to meet NATO spending targets. The DSRB, which is headquartered in Canada and aims to lower military borrowing costs through pooled credit, currently retains the support of nations including Belgium, Turkey, and Ukraine.

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• Canada and the U.K. consider merging financial initiatives to rearm against Russia

  Source: CBC Politics
  Date: 2026-09-21 18:10:23.0
  Tags: [National, Defence, Finance, Trade, Governance]

  Canadian and British officials are considering merging Canada's proposed Defence, Security and Resilience Bank (DSRB) and the United Kingdom's Multilateral Defence Mechanism ahead of their scheduled 2027 launches to help allies rearm against Russia and other international threats. Prime Minister Mark Carney and British Prime Minister Andy Burnham discussed the potential consolidation during a bilateral meeting in Liverpool, as Canada seeks a major financial player to ensure adequate lending capacity for defence companies to scale up production. To date, Canada has signed up Albania, Belgium, Greece, Latvia, Luxembourg, Romania, Turkey, and Ukraine to the DSRB, while the United Kingdom has secured the Netherlands, Finland, and Poland for its competing financing framework.

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• Canada won't pay directly into EU budget under Carney's plan: ambassador-designate

  Source: CBC Politics
  Date: 2026-09-19 08:00:00.0
  Tags: [National, Trade, Defence, Technology, Finance, Governance]

  Incoming EU Ambassador-Designate Jonathan Wilkinson announced that Canada will not pay directly into the European Union budget under Prime Minister Mark Carney's proposed "unique alliance." However, Canada may contribute funding to specific strategic programs, such as the EU's Security Action for Europe (SAFE) defence loan program, Horizon research initiatives, and Erasmus+ student exchanges. Carney formally outlined his vision for the partnership before the European Parliament, aiming for seamless digital trade, critical mineral investments, and AI safety protocols, while facing skepticism from some European politicians and tariff threats from U.S. President Donald Trump.

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• America 'not at war' with Canada, insists U.S. Treasury Secretary Scott Bessent

  Source: CBC Politics
  Date: 2026-08-31 18:00:16.0
  Tags: [National, Trade, Economy, Finance, Defence]

  United States Treasury Secretary Scott Bessent dismissed claims of a trade war with Canada during an interview with CNBC, criticizing Prime Minister Mark Carney for walking away from a trade deal and imposing 50 percent retaliatory tariffs on roughly $28 billion worth of Canadian exports. The U.S. previously imposed these tariffs after trade negotiations collapsed due to disputes over auto industry terms, restrictions on foreign trade deals, and protections for French-language media and bilingual product labelling. Finance Minister François-Philippe Champagne is scheduled to meet with Bessent and G20 counterparts in Asheville, North Carolina, while provincial leaders including Alberta Premier Danielle Smith have voiced concerns that the ongoing tariff escalations will harm small businesses and regional economies.

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