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news

Newsstand: May 10, 2013

Friday! What else is there to say about that? In the news: Wynne won't set a deadline for auto insurance cuts, a Hamilton-area man remains missing, there are a lot of rich people in Toronto, and the Leafs had better win tonight.

illustration of a person walking across a slackline between a tree and a lamp post

Premier Kathleen Wynne doesn’t believe that a 15 per cent cut to auto insurance rates in the province can be completed within the one year deadline the NDP has requested. Finance Minister Charles Sousa incorporated the rate cut into the provincial budget he tabled on May 2, and NDP leader Andrea Horwath has said that implementing the cuts within a one year period is one condition of her party’s support of the budget. But Wynne said that the change is complicated and she isn’t willing to put a deadline on its completion. “It has to be a viable outcome because what I don’t want to do is create a situation where there are people who won’t be able to get insurance because the insurance industry says, ‘Well, you’re pushing us too hard, we just won’t write insurance for certain parts of the population,’ ” she said.

Hamilton police searching for a missing 32-year-old man think that the key to his mysterious disappearance lies in his truck. Two men showed up at Tim Bosma’s Ancaster home on Monday night, asking about a pickup truck he had listed for sale. Bosma has been missing since about 9:30 p.m. that evening, after telling his wife he was taking the men for a test drive, and police have turned up nothing in their investigation that would suggest why he would have disappeared.

More than a quarter of Canada’s millionaries—118,000 of them—live in the GTA, according to stats compiled by consulting firm WealthInsight. That figure includes 1,184 multimillionaires, defined as those with net assets of $30 million USD or more. That places us 15th in the world for millionaire concentration, with Tokyo coming in first. We’ve only got five lonely billionaires, though. Let’s all feel very badly for them.

And in sports news, the Leafs have a must-win game against the Bruins in Boston tonight—if they lose, they’re out of the playoffs. If they win, the series comes back to Toronto for Game 6. Provincial rivals, the Ottawa Senators, already clinched their spot in the second round with a rout of the Montreal Canadiens last night, just to add a little extra motivation for the boys in blue. Let’s not talk about how the Jays are doing.

Comments

  • HotDang

    My understanding is that Leafs fans would have preferred to see a match against Montreal, so maybe their losing is a disincentive for the Leafs to win.

  • tyrannosaurus_rek

    ‘Well, you’re pushing us too hard, we just won’t write insurance for certain parts of the population’

    Capitalism abhors a vacuum. If, suddenly, certain parts of the population weren’t being served by the existing insurance industry, new players would pop up the next day to absorb them.

    • dsmithhfx

      I don’t know why she doesn’t just say ‘yeah, we’ll do it in a year’ and then, a year later, say ‘oh it’s not quite ready because of xyz beyond our control, but we’ll have it done real soon now unless you want to call an election then it’s out the window’. Isn’t that like gubbermint tradition?