Clark Recalls British Columbia's House to Face Political Defeat
(Bloomberg) -- British Columbia Premier Christy Clark readied for political defeat, setting a date for the resumption of the legislature this month that will usher in the Canadian province's first minority government in more than six decades.
The assembly will resume in Victoria on June 22, Clark's office said in an emailed statement. The first order of business will be to elect a new speaker, after which Clark will test the confidence of the legislature, according to the statement.
Clark is expected to lose the confidence vote after a closely fought election in which her Liberal Party, in power since 2001, failed to win a majority by one seat. An alliance between the New Democratic Party and Greens is set to pave the way for John Horgan, the 57-year-old NDP leader and former pulp mill worker, to take over as premier.
Why a Provincial Canada Vote Matters for Business
A standoff looms ahead over the speaker's election, without which nothing can happen in the legislature. The Liberals hold 43 of the assembly's 87 seats, while the NDP and Greens jointly hold 44 -- the bare minimum required to pass bills on their own. As a result, no party wants to lose a member to become speaker, normally a ceremonial role to enforce house rules and vote only in the event of a tie.
Linda Reid of the Liberal Party is the incumbent speaker. The Liberals have agreed that none of them will stand for election for that position, forcing the NDP or Greens to give up one lawmaker to take on the role. That sets the province up for a deadlocked legislature -- 43 to 43 -- in which the new speaker becomes a constant tie-breaker.
The NDP and Greens have struck a pact to pass budgets and maintain an NDP-led government until the next scheduled election in four years. They've also agreed to push ahead on about a dozen common causes, which include blocking Kinder Morgan Inc.'s Trans Mountain oil pipeline expansion.
To contact the reporter on this story: Natalie Obiko Pearson in Vancouver at npearson7@bloomberg.net.
To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net, Stephen Wicary, Chris Fournier
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
