CRE interests attached to rebranded portfolios

CRE concerns attached to rebranded portfolios

Wednesday, July 26, 2023

Rebranded portfolios figure in the newly announced overhaul of the Canadian government’s Cabinet. In total, seven new Ministers have joined, nine have retained their responsibilities and 22 are taking on new or adjusted roles.

Of note for the commercial real estate industry, housing now gets top billing in the tasks for Sean Fraser, the new Minister of Housing, Infrastructure and Communities. He represents the Nova Scotia constituency of Central Nova and was previously the Minister of Immigration, Refugees and Citizenship.

Accessibility will become the purview of Kamal Khera, the new Minister of Diversity, Inclusion and Persons with Disabilities. The file had previously been attached to the Ministry of Employment, Workforce Development and Disability Inclusion.

Khera represents the Ontario constituency of Brampton West and was previously the Minister of Seniors. In turn, Employment and Workforce Development has been assigned to Randy Boissonnault, the member of parliament for Edmonton Centre, who will also be responsible for Official Languages, while Seniors have been appended to the Ministry of Labour, under the continuing direction of Newfoundland and Labrador MP, Seamus O’Regan.

Jonathan Wilkinson continues his Ministerial role within what’s perhaps now more accurately renamed as the Ministry of Energy and Natural Resources, and Steven Guilbeault retains the consistently named Ministry of Environment and Climate Change. However, there will be a new Minister leading some key climate change adaptation efforts as Vancouver MP Harjit Sajjan takes on responsibility for Emergency Preparedness. He was previously the Minister of International Development.

Other Ministers remaining in some of the government’s most prominent portfolios include: Deputy Prime Minister and Minister of Finance Chrystia Freeland; Minister of Foreign Affairs Mélanie Jolie; and Minister of Innovation, Science and Industry François-Philippe Champagne. There continues to be an even split of men and women in the Cabinet.

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