Big Headlines: The spring economic statement will be tabled today and Trump welcomes King Charles to Washington

0:00Frequency podcast network, stories that matter, podcasts that resonate. Expect good news. That's what the Prime Minister is saying ahead of the government tabling its spring economic statement today. Hi, I'm Verjash Dev. This is Big Headlines. Everything you need to know to be in the know in just five minutes. Canadians will get a look at how the war in Iran and the trade war with the US have affected federal finances today. The spring economic statement is set to be tabled later. Prime Minister Mark Carney has been teasing good news when the government reveals this new statement, but just how good are we talking? The government's performance against our deficit targets, the government performance on getting spending under control. It's believed the deficit will be down lower than the 78 billion projected in the fall budget, but it's also financial smoke and mirrors, according to conservative leader

1:00Pierre Paulier. Either way, he's running bigger deficits than just in Trudeau. No one thought it was possible for anyone to be more reckless than Trudeau. Until this Prime Minister came along and said, hold my champagne. The statement will apparently have a focus on groceries and housing and other affordability measures. The Davos speech, the tariff profile, and now the Canada Strong Fund. It's been a busy year for Mark Carney since being elected as Canada's 24th Prime Minister this day last year. Karen C. Olin speaks to journalist Steve Bacon about Carney's tenure so far on today's episode of The Big Story. Do you think politically like the Prime Minister is under any real pressure to show results from his economic agenda or not really because I mean in theory if you can keep this majority together, even if Canadians start to get antsy, like he still gets the gift of time. Like in theory, he won't be judged until 2029. You know, every leader has a shelf life and it really depends a lot on outside circumstances

2:06and inner talent, you know, your talents matching the circumstances on the ground and whether or or not there's a good connection there. You know, in the best of all worlds, whatever talent you bring to office helps solve the problems of the day that the country is dealing with. You know, when those things line up, you can win a lot of elections in a row and when those things don't line up, you can be out in one. So it really depends. He's got good will from the public on his side right now and I don't know how long that lasts and neither does he. You can listen to the full episode wherever you get your podcasts. Iran has now proposed reopening the Strait of Hormuz in exchange for being allowed to collect tolls from ships that are passing through. US Secretary of State Marco Rubio has dismissed the idea. If what they mean by opening the straits is yes, the straits are opened as long as you coordinate with Iran, get our permission or we'll blow you up and you pay us. That's not opening the straits.

3:10The White House says Trump will address the offer later. The proposal came in yesterday as Iran's foreign minister met with Russian President Vladimir Putin to talk about the war. As well, today, the United Arab Emirates says it's leaving OPEC as of Friday. It's seen as a significant loss along with a sign that the Iran war is likely going to reshape global oil markets. Also making big headlines, King Charles is addressing a joint session of the US Congress today in Washington. The centerpiece of a four-day state visit aimed at patching up a strained relationship between Britain and the United States. CNN's Bax Foster has more on what the King is expected to focus on. And I understand that the King will start off that speech by talking about Saturday night and the attack on the White House correspondence dinner. And how the King being here is showing that these are two nations shoulder to shoulder.

4:12Before the address, the King will meet privately with Trump. The meeting has been described as crucial for US-British relations. And while the King's role is not political, Trump has told the BBC in an interview that the visit could help repair the rift with the UK. The King and Queen will also attend a formal banquet later this evening. The Royal Canadian Mint has launched a full review following allegations that some of its gold comes from a region of Colombia where drug cartels control minds. A spokesperson said it immediately and fully suspended the refining of any material from that supply chain as soon as it learned of the allegations. The New York Times suggested in a report that some of the Mint's gold comes from Colombian minds that are controlled by the clandell golfal drug cartel. The report says before the Colombian gold arrives in Canada, it's mixed in with American gold,

5:15and the Mint considers it to be entirely North American. According to the spokesperson, the Mint continuously reviews its business dealings, and if an issue is found, it takes immediate action. The rockers who were ahead by a century are among the artists being inducted into the Canadian songwriters Hall of Fame. The tragically hip will be celebrated during a ceremony in the fall. In a statement, the hip says while they are humbled to be inducted, it's bittersweet that Gord Downey won't be standing with them. The lead singer died in 2017 after being diagnosed with a form of brain cancer. The Canadian songwriters Hall of Fame induction ceremony will take place at Toronto's Massey Hall on September 26th. Now you're in the know. Thank you for listening to Big Headlines. Make sure you follow, share, and review Big Headlines. Enrique Amaturo is our lead producer. I'm Vergesh Dave. Thank you for listening and we'll talk to you tomorrow.