After spending the last few days off the public radar — although seemingly not off the clock, as revealed by the recent rollout of clips from his year-end interviews with CBC News chief correspondent Rosemary Barton and Radio-Canada’s Patrice Roy — Prime Minister Mark Carney will team up with Ontario Premier Doug Ford to unveil a new agreement that could “reduce the regulatory burden on large projects, including the road to the Ring of Fire,” as per an early dispatch from Canadian Press.

“Provincial and federal government sources who are not allowed to speak publicly say Ottawa has agreed to eliminate any duplicative work on its impact assessments on large projects,” the wire service reported yesterday.

“A draft agreement posted on the Impact Assessment Agency of Canada’s website says the goal is to work together to implement the ‘One Project, One Review and One Decision’ approach,” and when Ford “was asked if this would be the final piece of the puzzle in order to begin building the roads to the Ring of Fire next year,”his answer was “I believe so,” CP notes.

As iPolitics’ own Aya Dufour reports, it’s still not entirely clear what the new deal could mean for the Ring of Fire, as “substituting federal assessments currently underway with provincial oversight mechanisms is unlikely to speed up road building or the regional evaluation process.”

A move towards greater cooperation “could, however, come into play more meaningfully should the IAAC decide Eagle’s Nest or other Ring of Fire projects need federal assessments in the coming month,” she points out.

According to Carney’s daily itinerary, the two leaders will retreat behind closed doors for a pre-reveal tête-à-tête ahead of a signing ceremony and brief media availability.” (10:45 a.m.)

Later this afternoon, Carney will host what his office is billing as a “virtual first ministers’ meeting” with his provincial and territorial counterparts, which “will include discussions on international trade, the domestic economy and Ottawa’s Build Communities Strong Fund,” according to a statement provided to The Globe and Mail earlier this week. (3:30 p.m.)

Also out and about today:

• Industry Minister Mélanie Joly is set to continue her ongoing campaign to promote her government’s push for an “integrated industrial strategy” — this time, during a “fireside chat” hosted by the Montreal Council on Foreign Relations that, according to the advisory, will focus on the “opportunities” that such a plan will present “in light of current global uncertainties.” (8:15 a.m.)
• Elsewhere in the city, newly installed Canadian Identity and Culture Minister Marc Miller will “reiterate” proposed new “investments” outlined in the budget “for the purchase of Canadian works in French to be broadcast on the TV5MONDEplus platform,” as well as outline a new initiative in support of “public service media.” (9:15 a.m.)
• Back in southwestern Ontario, Artificial Intelligence Minister Evan Solomon will highlight fresh federal funding for York Region businesses. (10:15 a.m.)

ON AND AROUND THE HILL

Superintendent of Financial Institutions Peter Routledge will provide an update on the Domestic Stability Buffer, which, as outlined on the OSFI website, “allows Canada’s largest banks to easily adjust to key vulnerabilities and system-wide risks (and) helps foster stability and public confidence in the Canadian financial system,” and is currently set at 3.5 per cent of total risk-weighted assets.” (9 a.m.)

IN THE CHAMBER

The House of Commons and the Senate are currently on hiatus. Regular parliamentary business will resume on Jan. 26, 2026.

FRESH FROM iPOLITICS

HOT OFF THE WIRES

• Feds, Ontario to sign deal reducing regulatory burden on Ring of Fire, other projects
• Federal help with infrastructure is critical to trade, B.C. Premier Eby says
• Time to move on extraction, refining of critical minerals in Canada: Champagne
• Ford promotes Toronto as Ottawa, B.C. and Montreal make pitches to host defence bank
• Carney’s first year as prime minister underscores the contrast with Trudeau
• Ukrainians displaced by war need pathway to permanent residency: UCC
• G7 foreign ministers condemn conviction of Hong Kong activist Jimmy Lai
• Most Canadians still confident in vaccines, but hesitancy has increased, poll says
• Canadian population edged lower in third quarter as non-permanent residents drop
• Canada Post ‘fully prepared’ for holiday rush after last year’s disruptive strike
• N.S. dispensary raided following government directive for crackdown on cannabis
• Quebec Liberal Leader Pablo Rodriguez resigns amid ongoing crisis
• Public colleges, universities will get most foreign students
• Food insecurity persists in Ontario cities that declared emergencies over past year
• Winnipeg health officials apologize after antisemitic speech yelled at event
• Thousands without water in Saskatchewan after town’s supply compromised
• Canadian oilpatch can withstand crude market doldrums, experts say
• Alberta recall petitions grow to 23 with latest against justice minister
• Making lawyers swear Oath of Allegiance to monarch unconstitutional: Alberta court
• B.C. says violent repeat offender scheme cuts police interactions by 50 per cent
• Residents unconvinced by Vancouver’s plan to replace Downtown Eastside rooming houses
• Ex-grocery executive, Jones, says customer is boss as he eyes B.C. Conservative job
• B.C. mink farmers drop legal challenge of ban, citing costs after four-year fight

Committee highlights courtesy of our friends at iPoliticsINTEL.