The National Telegraph - Wyatt Claypool - October 21, 2025


Carney Liberals are "worried" budget won't pass! New Election?


Episode Stats


Length

16 minutes

Words per minute

184.37225

Word count

3,080

Sentence count

162

Harmful content

Misogyny

3

sentences flagged

Hate speech

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Wyatt Claypool talks about the possibility that the budget will not pass in the next couple of weeks, and what that means for the future of Canadian politics as we know it. He also talks about why the Liberals should not want another election right now.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 Hey guys, Wyatt Claypool here.
00:00:02.760 It seems like the Liberals are genuinely concerned as to whether or not their budget is going to pass in the next couple of weeks here,
00:00:10.160 and it could make Canadian politics much more interesting than it already is.
00:00:15.920 Now, I'm not sure if the Liberals actually want a new election or not,
00:00:21.160 because some people are speculating as to whether or not the Liberals are intentionally trying to tank negotiations
00:00:27.820 around trying to pass their budget in order to try and go for a majority government.
00:00:32.400 But from my perspective, it actually does genuinely sound like they are concerned that this thing is not going to pass,
00:00:38.840 and they are trying to batter either the Bloc Québécois or the NDP on board to do it.
00:00:44.620 I think the saving grace for the Liberals here is going to be that the NDP is currently in a leadership race,
00:00:50.960 and so they may just pass it in order to buy themselves some more time.
00:00:54.860 Although, frankly, they probably do better an election with Don Davies as their leader
00:01:00.460 than any of the other people currently running for the NDP leadership,
00:01:04.240 but that's just my opinion about a party I would never vote for, so take it with a grain of salt.
00:01:10.240 But I want to take you through the statement that Dominic LeBlanc made in Parliament today,
00:01:15.980 where he does not sound super, super confident in anything that is going on right now.
00:01:21.760 Actually, before we get to that, I do just want to show you guys the charts.
00:01:24.860 Because this is also why they should not want an election right now.
00:01:29.420 So the last federal election was super, super tight.
00:01:33.500 The Liberals ended up winning the popular vote by 2.3%,
00:01:37.080 but the Conservatives actually got disproportionately more seats than they usually do
00:01:41.900 because their vote has become more efficient.
00:01:44.300 So despite the Liberals winning the popular vote by 2.3%,
00:01:48.160 which normally would actually have the Liberals winning a majority,
00:01:51.740 they still only got a minority government,
00:01:54.380 they're only a few seats away from a majority, but it's still not a majority.
00:01:59.500 And after they won, you see this big lead that opens up for the Liberals as they enter their honeymoon phase,
00:02:06.680 which after several policy fumbles and rhetorical foot-in-their-mouth moments,
00:02:11.940 has whittled back down to basically where we were at the election.
00:02:16.660 In fact, the margin between the Liberals and Conservatives is closer than the election was.
00:02:22.500 Right now, with all the polls averaged, you have the Liberals at 40.9% and the Conservatives at 38.4%.
00:02:28.660 So that is the flavor that we, that is kind of, that is what is flavoring the situation
00:02:35.280 as we are getting in to the issue about the budget.
00:02:39.700 So let's jump over to that now.
00:02:42.440 Look at this.
00:02:44.400 We have the, we have not finance, is he the finance minister?
00:02:48.840 It's Dominic LeBlanc.
00:02:49.760 He's not the finance minister, but I think he's our trade representative with the Americans.
00:02:54.080 But he is talking about the Bloc Québécois not being supportive of the budget
00:02:58.480 or at least hedging on whether or not they will actually vote for it.
00:03:01.700 So I just want to say, because I haven't said this in English yet,
00:03:04.260 that we're, we're two weeks from the budget.
00:03:06.460 I, I think that, um, uh, what I'm seeing in Parliament worries me.
00:03:11.540 Um, we have, uh, two opposition parties principally that aren't taking this matter very seriously.
00:03:18.100 Canadians are looking for certainty.
00:03:19.720 We had an election six months ago.
00:03:21.660 Canadians are looking for predictability, stability, and especially a plan.
00:03:27.120 We intend to present a plan to Canadians to deal with this very critical moment in our history.
00:03:33.520 Isn't that kind of telling?
00:03:35.160 It's six months in and we're only tabling the plan on how to deal with this critical moment right now.
00:03:40.940 Like, I thought you guys were, you know, Mark Carney was the man with a plan
00:03:44.120 and you guys were going to lead us through a crisis.
00:03:45.940 But six months in, we're only tabling the plan.
00:03:48.440 And what we're seeing is our, our opposition parties, the Bloc Québécois,
00:03:52.420 who without having even read the budget, uh, eliminate the possibility that they will support it.
00:03:57.820 And the Conservatives making, uh, just ludicrous demands with respect to the budget.
00:04:02.160 It sounds like you're worried about maybe Canada going to another election.
00:04:04.760 Is that a realistic possibility that Canadians can expect?
00:04:06.880 We have, we have, um, uh, minority government, but we believe we have a mandate.
00:04:12.220 Um, and when I see opposition parties, uh, not, uh, uh, ruling out the possibility of voting for the budget,
00:04:19.000 uh, that's starting to worry me.
00:04:20.740 But I think it's them that are misreading the mood of Canadians.
00:04:23.860 If an election is necessary.
00:04:25.400 They're misreading the mood of Canadians.
00:04:28.020 We had a poll we just looked at.
00:04:29.920 The mood of Canadians is actually very undecided on whether or not they like this government or not.
00:04:35.220 Like, does Mark Carney personally have a positive approval rating, like a net positive approval rating?
00:04:41.380 Yes.
00:04:42.380 But he's also a new prime minister.
00:04:44.300 And it usually takes a while for people to sour on the personality of the prime minister.
00:04:49.760 You know, Mark Carney is also a fairly boring guy.
00:04:52.000 He's not going to rub people the wrong way for quite a while.
00:04:54.940 Now, I don't like him, but the average person who doesn't follow politics very closely
00:04:59.280 is probably not going to be bothered by Mark Carney until much, much later.
00:05:04.240 Trudeau was a far more polarizing personality, but Carney is not.
00:05:07.820 But that doesn't mean that people actually vote for his party.
00:05:10.640 He's also not the super charismatic leader that people will, you know, fight to the hilt for.
00:05:15.480 He's just kind of, like, you know, a somewhat nice guy to most people.
00:05:18.900 But, you know, his policies haven't been great so far,
00:05:21.580 and his elbows-up thing kind of faded away quite quickly.
00:05:25.560 And the budget is not exactly what they expected from a guy who was pushing himself
00:05:30.140 as, like, the fiscally conservative liberal leader.
00:05:34.500 It's just not a good look for them right now to also basically be saying,
00:05:38.040 well, you know, we should stay in government because, you know,
00:05:40.840 there was an election six months ago and we're still in.
00:05:42.900 Like, yeah, I guess you had a mandate,
00:05:44.900 but you guys quickly shredded the mandate by doing none of what you really said.
00:05:49.180 But they're not really saving money and they're not investing more and spending less.
00:05:53.420 They're just spending more.
00:05:55.260 They're not doing the elbows-up thing anymore.
00:05:57.320 I don't really know what else they were really elected into government to do
00:06:00.540 that was at the forefront of people's minds,
00:06:02.800 because it was pretty much just the anti-Trump stuff for most of their voters,
00:06:05.740 and that was it.
00:06:06.380 We would obviously, reluctantly, because we don't think Canadians want an election,
00:06:12.220 but election there will be.
00:06:14.880 It's the opposition parties who have that decision in their hands.
00:06:18.020 Why don't you accept the NDP's demands?
00:06:19.240 Well, which ones?
00:06:21.620 The one that said it's inimaginable that they vote for the budget,
00:06:24.800 the negotiable demands, or the non-negotiable demands?
00:06:28.120 It's pretty hard to follow.
00:06:29.520 What about the NDP?
00:06:31.720 You'll have to ask the NDP about the NDP.
00:06:34.060 Have you been having those conversations?
00:06:35.180 Minister.
00:06:36.100 What I just said is that the Prime Minister has had conversations,
00:06:40.940 Mr. Chopin has had conversations,
00:06:42.920 other ministers have had conversations,
00:06:44.980 and we will continue to listen to what they have to say.
00:06:48.540 So they know the Conservatives are going to vote against it.
00:06:51.720 They don't think the bloc's going to vote for it,
00:06:54.240 and so that's not great for them.
00:06:56.480 And then with the NDP,
00:06:57.640 he genuinely doesn't know what the NDP are going to do.
00:07:00.400 Now, again, I think 80% chance the NDP just votes for it
00:07:04.120 because they're in a leadership election,
00:07:05.500 and they need to buy themselves time,
00:07:06.980 and they're kind of broke.
00:07:08.300 At the same time, with only seven current MPs,
00:07:11.700 they could slap together a very cheap and dirty campaign
00:07:15.700 in order to try and increase their siege count,
00:07:17.820 because the polls have showed them bounce back
00:07:20.420 from just 6% in the last election up to 12%,
00:07:24.000 and 12% would probably have them scoring around 15 seats or so,
00:07:28.500 which would make them an official party again.
00:07:30.600 That was actually one of the things that ended up falling through
00:07:33.060 with the NDP previously,
00:07:34.360 is that they said they would enter an official liberal coalition,
00:07:38.340 or at least they would support them on confidence measures,
00:07:40.360 as long as they lowered the official party threshold
00:07:43.560 so that they would get extra funding in Parliament,
00:07:45.640 even though they don't actually have the seats
00:07:48.120 that they need in order to be an official party.
00:07:51.440 So maybe that also ends up coming out
00:07:53.700 in order to pass the budget that the NDP
00:07:56.380 get to be an official party with seven seats.
00:07:58.680 Again, if I was the NDP, I would just call an election now,
00:08:01.460 because guess what?
00:08:02.360 You're not going to be Prime Minister.
00:08:04.060 Whoever is the NDP leader is almost immaterial.
00:08:06.760 And frankly, Don Davies is probably a better leader
00:08:10.440 than Heather McPherson or Avi Lewis.
00:08:13.540 There's that other guy who's more of a trade unionist,
00:08:16.000 but that's pretty much like Don Davies.
00:08:18.600 He's an old Teamsters lawyer,
00:08:20.160 which is frankly not a bad guy to be running
00:08:22.440 as the leader of your party right now
00:08:24.740 when the NDP needs to recover from the perception
00:08:27.980 that they are a pretentious party
00:08:30.140 of downtown metropolitan elites like Jagmeet Singh.
00:08:33.280 And, you know, why not throw the Teamsters lawyer in
00:08:36.440 as the leader for now, get some more seats,
00:08:38.980 and then have your leadership race afterwards.
00:08:41.540 Again, it's not like he's going to be Prime Minister.
00:08:43.700 It's not like it's a position
00:08:45.120 where the person's going to be able to do anything
00:08:47.480 post-election in terms of the Prime Minister's office.
00:08:50.180 They are just the leader of the NDP,
00:08:52.180 and that is all they will ever be.
00:08:54.660 But now let's jump over to some other clips here.
00:08:57.980 We had Mark Carney here.
00:09:00.380 This was kind of funny.
00:09:01.320 talking about how we need to, like, you know,
00:09:04.560 he's going to go off now to Asia
00:09:06.620 to sign more trade agreements,
00:09:08.980 i.e. a bunch of hollow nothing
00:09:10.800 because he has to basically travel around
00:09:13.520 talking with world leaders to pretend he's doing stuff
00:09:15.700 because he actually hasn't gotten anything done yet.
00:09:18.160 Our strategy is diversifying trade.
00:09:20.400 That's why we're going to Asia.
00:09:22.320 You saw the Indonesian trade deal.
00:09:24.520 We're in talks with ASEAN,
00:09:25.840 which is the group of countries
00:09:26.940 that I'm meeting with in Kuala Lumpur,
00:09:29.780 and then more broadly at APEC,
00:09:32.620 including with China.
00:09:33.720 You might have not been able to hear that.
00:09:35.180 Some of the clips I end up playing are a bit quieter.
00:09:37.440 But he was talking about how,
00:09:39.060 well, we signed an agreement with Indonesia
00:09:40.920 in Kuala Lumpur,
00:09:42.320 so I'm going to go out to Asia
00:09:44.960 to try and sign more of those deals.
00:09:46.480 And then someone asked him,
00:09:47.280 well, are you going to sign a deal with India?
00:09:48.540 And then he just refused to answer it
00:09:50.700 because the liberals these days
00:09:52.620 are supposed to dislike India
00:09:54.180 for petty internal community reasons
00:09:57.860 from a lot of Kalistanis.
00:10:00.120 And so, yeah,
00:10:01.920 he's not actually serious about signing agreements
00:10:03.900 because he won't sign an agreement
00:10:04.960 with the biggest power in Asia aside from China.
00:10:10.200 And so I need to now play,
00:10:12.420 do we have this?
00:10:13.460 We have Melanie Jolie talking about
00:10:15.860 the Stellantis failure
00:10:17.900 where we now have
00:10:19.180 the Stellantis car manufacturer plant
00:10:21.800 leaving Brampton
00:10:22.920 and they're just pretending
00:10:24.660 like they can pressure them into staying.
00:10:26.440 Stellantis has been kind of thumbing their nose 0.50
00:10:28.140 at a contract they signed.
00:10:29.300 If GM can walk away,
00:10:30.520 we don't really have that same sort of deal with them.
00:10:32.240 So what kind of leverage do we have?
00:10:33.140 So I think it's two completely different situations.
00:10:35.920 When you look at Stellantis,
00:10:37.460 Stellantis had an obligation
00:10:38.740 to bring back the production
00:10:40.360 to the Brampton plant
00:10:42.000 and they failed that obligation.
00:10:45.180 And so that's why
00:10:46.760 we're putting maximum pressure on the company.
00:10:49.160 And it comes to GM,
00:10:50.900 they decided to let go of their bright drop,
00:10:53.820 which was an EV vehicle
00:10:55.440 that was not going well commercially.
00:10:58.220 That's a decision they took.
00:11:00.260 What does that tell you
00:11:01.420 about the green energy sector in general
00:11:03.880 and the EV sector?
00:11:05.820 The stuff is not wanted by consumers
00:11:08.240 despite the fact
00:11:09.300 that much of this is subsidized by the government,
00:11:11.860 not just the manufacturer,
00:11:13.280 but the purchasing is subsidized by the government.
00:11:15.040 And they still couldn't sell that car.
00:11:16.660 It's almost like we shouldn't base
00:11:18.900 our industrial policy
00:11:20.560 on newfangled green energy
00:11:24.020 and EVs that nobody actually wants.
00:11:27.460 And as soon as it stops being a trend,
00:11:28.980 people stop buying it.
00:11:29.840 Or as soon as the US gets rid of subsidies
00:11:32.520 for people buying green EVs,
00:11:35.240 immediately the entire sector dries up.
00:11:38.820 Like maybe we shouldn't have done this
00:11:40.140 and we should have actually invested
00:11:41.000 in things that matter.
00:11:42.400 Of course, we'll hold them to account
00:11:44.100 for any support we've given them
00:11:46.240 to develop that model.
00:11:48.620 But at the same time,
00:11:50.200 we are creating a response group
00:11:52.280 to make sure that we're bringing a new model
00:11:54.680 because the 1,200 workers
00:11:57.160 at the Ingersoll plan
00:11:58.460 need to know that we're fighting for their jobs.
00:12:00.740 What's the difference?
00:12:01.960 What about bringing a new model in? 0.97
00:12:03.880 That is something that's going to take some time.
00:12:05.720 What kind of time frame are you looking at?
00:12:07.700 These are people who are out of work now.
00:12:09.780 Well, urgency is a matter.
00:12:11.400 So that's why I'm...
00:12:12.660 Don't worry, guys.
00:12:13.720 They're going to create another group
00:12:14.880 or a department or some agency
00:12:16.500 to look at something
00:12:17.500 and probably end up doing nothing.
00:12:18.980 So we're going to pay a bunch of money
00:12:20.140 to get absolutely nothing done.
00:12:22.780 Another sign that the liberals
00:12:24.540 are actually kind of concerned
00:12:25.880 about their budget not passing
00:12:27.140 is the fact they've gone so hard
00:12:29.620 at Pierre Polyev
00:12:30.640 trying to paint him
00:12:32.240 as this far-right figure
00:12:33.600 because they don't have the issue
00:12:35.600 of Donald Trump anymore.
00:12:37.020 Yes, Donald Trump is still around
00:12:38.220 and they can probably motivate people
00:12:39.400 to vote for them
00:12:40.040 because, you know,
00:12:40.780 hey, Donald Trump's bad.
00:12:42.360 But it went from like a, you know,
00:12:45.500 number one issue for a lot of Canadians
00:12:47.300 to being off the map for most Canadians.
00:12:50.100 Like it was the number two issue
00:12:51.540 in the election campaign
00:12:52.580 and now most pollsters find
00:12:54.200 Donald Trump and his administration
00:12:55.380 to be number four, number five,
00:12:57.800 sometimes even number six for people.
00:12:59.900 They barely won the last election.
00:13:01.560 When you look at the tightest ridings,
00:13:03.180 the liberals barely won
00:13:04.860 even a minority government.
00:13:06.060 The conservatives were only 8,000 votes away
00:13:08.120 in the tightest ridings
00:13:09.100 from being the ones
00:13:10.320 in the minority government situation.
00:13:13.020 And now, and that was with Trump
00:13:15.680 as the second biggest issue
00:13:16.920 after cost of living,
00:13:17.960 which it's almost impossible
00:13:19.100 to not have the cost of living
00:13:20.680 be the primary issue.
00:13:21.980 It's pretty much always the biggest issue.
00:13:23.540 It's the most universal issue
00:13:25.020 for people to care about.
00:13:26.620 But now they don't have
00:13:27.940 their main number two issue
00:13:29.240 in which that was the one issue
00:13:31.260 the liberals had a massive advantage on.
00:13:33.560 It's now number four or five.
00:13:34.880 It's still going to help them,
00:13:36.420 but they can't really lean on that one
00:13:38.720 nearly as much anymore,
00:13:39.920 so that's why they're now
00:13:40.720 attacking Pierre Polyev.
00:13:42.520 You have this person here saying,
00:13:44.100 quote,
00:13:44.340 I can't believe that this needs to be said,
00:13:47.200 but it is wrong to call
00:13:48.720 for the jailing of your political opponents.
00:13:50.680 Perhaps somebody should tell Pierre Polyev
00:13:52.520 these remarks are anti-democratic.
00:13:54.840 It's emblematic of a politician
00:13:56.760 who has lost his mind.
00:13:58.880 And this individual was quoting
00:14:00.740 the Justin Ling article
00:14:03.240 about Pierre Polyev
00:14:04.180 and the Toronto Star
00:14:04.940 that says Pierre Polyev's
00:14:06.660 conspiracy theorizing
00:14:07.880 isn't just wrong,
00:14:09.340 it's dangerous.
00:14:10.960 And we've seen a lot of this,
00:14:12.780 a lot of stuff calling
00:14:13.920 Pierre Polyev mini-Trump,
00:14:15.780 and he is a mega,
00:14:17.280 far-right conspiracy theorist,
00:14:19.180 and it's all cropped up
00:14:20.160 very suddenly.
00:14:22.580 And if the liberal government,
00:14:24.020 I would say,
00:14:24.740 if they actually had any issues
00:14:26.660 that they were doing well on,
00:14:28.500 if they were actually popular right now,
00:14:30.560 I don't think they would be
00:14:31.640 wasting time attacking Pierre Polyev.
00:14:33.240 If anything,
00:14:33.700 they would ignore him
00:14:34.580 and let him make noise over there
00:14:36.460 while we're getting stuff done
00:14:37.640 that people like.
00:14:38.900 They're not getting stuff done
00:14:39.900 that people like,
00:14:40.820 that's why they're now
00:14:41.520 opening up on Pierre,
00:14:42.780 and that's why they're concerned
00:14:43.980 about the budget not being passed.
00:14:45.400 Other parties,
00:14:46.120 no, they're not very popular right now,
00:14:48.080 and if we roll the dice again
00:14:49.520 in another election,
00:14:50.720 they could end up losing
00:14:51.660 because Polyev could just say,
00:14:52.860 hey, you're the guy,
00:14:54.480 it doesn't matter that I've only
00:14:55.420 given you six months,
00:14:56.660 you're the guy who said
00:14:57.260 you could turn this whole thing
00:14:58.440 around within months.
00:14:59.900 We've had six of them,
00:15:01.340 and not only have you
00:15:02.540 not turned things around,
00:15:04.060 things are measurably worse.
00:15:06.060 Inflation's worse.
00:15:07.400 The deficits are worse.
00:15:09.360 Everything's worse,
00:15:10.560 and now you're going to say
00:15:11.560 that I'm somehow,
00:15:12.800 you know,
00:15:13.360 being,
00:15:14.380 it's uncouth of me
00:15:15.660 to call an election
00:15:16.420 to say maybe we need
00:15:17.440 a recall on this guy
00:15:18.620 who promised the world
00:15:20.160 and is delivering less than that.
00:15:22.740 Anyways,
00:15:23.620 so,
00:15:24.200 with that being said,
00:15:25.260 thank you guys all for watching.
00:15:26.660 Just a bit of an update
00:15:27.520 on the chaos in Parliament.
00:15:29.580 I will be making a video
00:15:30.840 probably tomorrow
00:15:31.660 on the Calgary election situation.
00:15:33.980 Obviously,
00:15:34.500 it looks like Jeremy Farkas
00:15:35.860 has very,
00:15:36.820 very narrowly won
00:15:38.140 over Sonia Sharp. 0.99
00:15:39.560 I mean,
00:15:39.980 literally by
00:15:40.560 0.16%
00:15:42.860 of the vote.
00:15:43.760 He only won by
00:15:44.380 500 votes
00:15:45.360 around that.
00:15:46.520 There will be a recount.
00:15:47.820 He still likely will win,
00:15:49.060 but I do want to make a video
00:15:50.080 kind of talking about the race.
00:15:52.060 The silver lining is
00:15:53.060 Jodi Gondek did lose
00:15:54.580 and came in a distant third,
00:15:56.100 so I was right to say
00:15:57.220 that she looked like
00:15:58.240 she was going to become
00:15:59.080 the Lori Lightfoot
00:16:00.180 of this election,
00:16:01.120 the terrible Chicago mayor
00:16:03.040 who in her first re-election bid 0.95
00:16:04.820 came a distant third place.
00:16:07.580 But anyways,
00:16:08.280 with that being said,
00:16:09.280 thank you guys for watching,
00:16:10.340 and I will see you guys
00:16:11.540 next time.
00:16:12.340 Thank you.