The Big Story Big Headlines: Another MP crosses the floor as the Liberals inch closer to a majority
Mar 11, 2026
John Curtin, University of Toronto economist and energy commentator. He breaks down how the Iran conflict can push Canadian costs up and why Canada’s energy exports matter. He also explains how domestic supply and electrification cushion price shocks. Plus a look at maritime attacks and insurance risks affecting global shipping.
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Floor Crossing Pushes Liberals Near Majority
- The Liberals gained another MP as NDP Nunavut MP Lori Idlout crossed the floor to the Liberals.
- Idlout cited Arctic sovereignty, Indigenous rights, and climate change and moved the Carney Liberals to 170 seats, two shy of a majority.
Iran Targets Shipping To Amplify Economic Impact
- Iran shifted focus to economic targets like shipping routes, attacking vessels in the Strait of Hormuz and striking infrastructure in the region.
- Attacks and drone strikes on Dubai airport and Saudi oil sites risk spiking insurance and fuel costs globally.
Conflict Raises Costs But Canada Is Relatively Insulated
- The Iran conflict is already raising Canadians' cost of living, most visibly through higher gas prices.
- John Curtin notes Canada is relatively insulated as a net oil and gas producer and is moving toward electrification domestically.