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$1 Billion Gold Case Pits Maduro, BOE in Fight of Law, Politics – Yahoo Canada Finance

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(Bloomberg) — A lawyer for the government of embattled Venezuelan President Nicolas Maduro urged a London court not to confuse law and politics in a battle over $1 billion in gold held by the Bank of England.

While nations including the U.S. dismissed his 2018 re-election as rigged, the Maduro administration sets the budget, appoints officials and collects taxes, making him Venezuela’s legal head of government, Nick Vineall argued at a hearing on Monday.

Venezuela’s central bank sued the Bank of England for access to the gold that it says is urgently needed in a joint effort with the United Nations Development fund to fight the Covid-19 pandemic. The bullion has been in limbo since U.S. officials successfully lobbied their British counterparts last year to block Maduro’s attempt to withdraw the gold.

“One must be careful to disentangle the law from the politics,” Vineall said. “It’s vital to remember that recognition of a government doesn’t imply approval. Conversely, approval in a political sense does not imply recognition.”

The Venezuelan opposition, led by Juan Guaido who is backed by the U.S. and more than 50 other countries, has also laid claim to the gold.

Read more: Guaido Wants Role in BOE Spat Over $1 Billion in Venezuelan Gold

While the U.S., Canada and others have broken off diplomatic relations with Venezuela, the fact the U.K. has not means that the British government continues to recognize the legitimacy of the current government, Vineall said.

“Her Majesty’s government maintains full, reciprocal and normal relations with Venezuela, he said, “and that is consistent with the recognition of Mr. Maduro’s government.”

Justice Nigel Teare, who is overseeing the case, didn’t give an indication of when a ruling is expected.

 

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NDP caving to Poilievre on carbon price, has no idea how to fight climate change: PM

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OTTAWA – Prime Minister Justin Trudeau says the NDP is caving to political pressure from Conservative Leader Pierre Poilievre when it comes to their stance on the consumer carbon price.

Trudeau says he believes Jagmeet Singh and the NDP care about the environment, but it’s “increasingly obvious” that they have “no idea” what to do about climate change.

On Thursday, Singh said the NDP is working on a plan that wouldn’t put the burden of fighting climate change on the backs of workers, but wouldn’t say if that plan would include a consumer carbon price.

Singh’s noncommittal position comes as the NDP tries to frame itself as a credible alternative to the Conservatives in the next federal election.

Poilievre responded to that by releasing a video, pointing out that the NDP has voted time and again in favour of the Liberals’ carbon price.

British Columbia Premier David Eby also changed his tune on Thursday, promising that a re-elected NDP government would scrap the long-standing carbon tax and shift the burden to “big polluters,” if the federal government dropped its requirements.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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Quebec consumer rights bill to regulate how merchants can ask for tips

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Quebec wants to curb excessive tipping.

Simon Jolin-Barrette, minister responsible for consumer protection, has tabled a bill to force merchants to calculate tips based on the price before tax.

That means on a restaurant bill of $100, suggested tips would be calculated based on $100, not on $114.98 after provincial and federal sales taxes are added.

The bill would also increase the rebate offered to consumers when the price of an item at the cash register is higher than the shelf price, to $15 from $10.

And it would force grocery stores offering a discounted price for several items to clearly list the unit price as well.

Businesses would also have to indicate whether taxes will be added to the price of food products.

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.

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Youri Chassin quits CAQ to sit as Independent, second member to leave this month

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Quebec legislature member Youri Chassin has announced he’s leaving the Coalition Avenir Québec government to sit as an Independent.

He announced the decision shortly after writing an open letter criticizing Premier François Legault’s government for abandoning its principles of smaller government.

In the letter published in Le Journal de Montréal and Le Journal de Québec, Chassin accused the party of falling back on what he called the old formula of throwing money at problems instead of looking to do things differently.

Chassin says public services are more fragile than ever, despite rising spending that pushed the province to a record $11-billion deficit projected in the last budget.

He is the second CAQ member to leave the party in a little more than one week, after economy and energy minister Pierre Fitzgibbon announced Sept. 4 he would leave because he lost motivation to do his job.

Chassin says he has no intention of joining another party and will instead sit as an Independent until the end of his term.

He has represented the Saint-Jérôme riding since the CAQ rose to power in 2018, but has not served in cabinet.

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.

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