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Bank of Montreal
Symbol BMO
Shares Issued 647,059,842
Close 2021-03-29 C$ 112.52
Recent Sedar Documents

NP says CIBC, rivals hear Macklem objected to nursery

2021-03-29 08:17 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)

The National Post reports in its Saturday, March 27, edition that the governor of the Bank of Canada, who recently gave a speech lauding the importance of child care to the economic recovery from COVID-19, campaigned against having a daycare across the street from a $2.5-million home he and his wife owned in Toronto. The Post's Tyler Dawson writes that documents obtained by Blacklock's Reporter, an Ottawa news outlet, show that Tiff Macklem and his wife, Rosemary Macklem, both wrote to a Toronto committee, arguing against having the nursery in their Cabbagetown neighbourhood back in 2018. The project proposal has gone through a lengthy review and appeals process, with the Toronto Local Appeal Body allowing most of the proposed zoning variances to proceed in a January, 2021, decision. That decision upholds a previous decision granting approval to the child-care centre. The governor and his wife sold their home in July, 2020, shortly before an interim approval of the daycare was granted. In his letter, Mr. Macklem said 80 children would be at the daycare, about 100 people total, including staff. "This site is simply not appropriate for an operation of this scale," Mr. Macklem wrote.

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