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Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...
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Foreign Interference in Canadian Democracy: Unmasking Parliamentarians’ Involvement

 

The National Security and Intelligence Committee of Parliamentarians (NSICOP) has recently revealed a startling finding: an unknown number of federal politicians in Canada are knowingly working with hostile countries to interfere in our democracy. This report sheds light on the involvement of sitting parliamentarians in foreign interference operations, including divulging secrets to foreign governments. Here are the key points from the report:

  1. Witting or Semi-Witting Participation: The committee reviewed top-secret intelligence reports that suggested some parliamentarians are “witting or semi-witting” participants in foreign interference activities. These actions include collaborating with foreign governments to further their own interests within Canada.

  2. Ethical Concerns: While some of these activities may be illegal, they are unlikely to lead to criminal charges due to Canada’s failure to adequately protect classified information and methods in judicial processes. Regardless, the behaviors are deeply unethical and contrary to the oaths and affirmations that parliamentarians take to conduct themselves in the best interests of Canada.

  3. Gaps in Information Sharing: The report highlights serious gaps in the way Canadian Security Intelligence Service (CSIS), the Royal Canadian Mounted Police (RCMP), and other federal security agencies share intelligence about foreign interference. These gaps occurred between 2018 and 2023, and it appears that CSIS and the information gatekeepers at Prime Minister Justin Trudeau’s office did not see eye to eye.

  4. Urgency and Legislative Reforms: Prior to leaks about foreign interference activities, there was little urgency among elected officials and senior decision-makers to address this well-documented threat to national security. However, the leaks prompted the government to start considering key legislative reforms and take meaningful actions against particular states.

  5. China, India, and Iran: The report specifically mentions foreign meddling by countries like China, India, and Iran. These nations have been involved in activities that cross the line from legitimate lobbying and diplomacy into foreign interference.

In summary, this report underscores the need for vigilance in safeguarding our democratic institutions and addressing foreign interference. While the leaks were regrettable, they did prompt the government to take this issue more seriously. It’s essential that we continue to monitor and address these challenges to protect Canada’s sovereignty and democratic processes.


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