Did Ford Nation Cause Another Upset?
Looks as though the tide has turned in Toronto. Rob Ford was late to endorse the Conservatives but stepped up this past weekend. The votes are still trickling in and it seems that the Conservatives have taken quite a few GTA seats. To be fair Toronto and the GTA wasn’t all blue and white. Jack Layton and the NDP easily held some key seats in Toronto. Bob Rae hung on to his seat but there are doubts for Ignatieff as he lost his.
The next four years… Are we in for more of the same? Pension reform and security? Will this translate into more funding for the TTC? Public Healthcare? The loss of the TSX and Bay Street jobs to London UK or a stronger economy for all? Will the Conservatives hold a heavy hand or will they entertain some suggestions from the opposition?
Rob Ford did not help his old ward/riding at all. It stayed
Liberal.
The Fords did actively canvas support from their faithful and guess
what the GTA was swept up by mostly Conservatives. Whether this
endorsement actually will result in a “net benefit” to Toronto is
still unclear. The oversight of foreign takeovers of Canadian
companies has been reduced (smaller companies and takeovers that
“used to be” reviewed are no longer a concern for Investment
Canada). Note also that the recent Potash decision to DISALLOW a
takeover was a rare one. The shareholders and management reject the
proposal and even still it took a long time for to come back with
an answer. WIll Ford be quick to support the erosion of Bay Street?
That would hardly be good for business, well maybe only for the
handful of insiders looking to pocket a commission on selling out
the financial sector.