Ontario pans Quebec language requirements in new offensive for Toronto to host defence bank

Ontario Premier Doug Ford speaks during a panel discussion with other premiers at Canadian Chamber of Commerce event held at the Rogers Centre in Ottawa April 20, 2026. Photo by HYUNGCHEOL PARK /Postmedia

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OTTAWA — The Ontario government has launched a new offensive for Toronto to become the host city for the future Defence, Security and Resilience Bank (DSRB) headquarters — and a new booklet to support its bid is throwing a bit of shade to Montreal in the process.

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On Tuesday, Ontario Premier Doug Ford brought together over 200 attendees, including Toronto Mayor Olivia Chow, Liberal MPs, consul generals from NATO countries, as well as representatives from banking and financial service sectors, pension funds and the defence industry to make the case that Toronto is the best choice to host the future DSRB.

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“Canada is ready and willing to make the bank a success, but to do that, we need the federal government to choose a home city for the bank that can help it hit the ground running, a place with world-class workforce, the banking and defence manufacturing expertise and the global connections that will help the bank succeed,” Ford said.

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“There’s only one city in Canada that can truly provide everything the bank needs and that city is Toronto, backed by Team Ontario,” he added.

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The Ontario government, in collaboration with the city of Toronto and the business community, had already published a booklet back in December to emphasize the city’s “political stability.”

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Parti Québécois MNA Pascal Paradis said Ford has no lessons to give to Quebec in terms of international relations, since it was his government’s advertisement campaign featuring former U.S. President Ronald Reagan that reportedly derailed trade negotiations between the U.S. and Canada last fall.

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This week, a new booklet appeared on the government’s website making the case why Toronto — and not Montreal — should host this new global financial institution.

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“While Montreal is a vital national economic centre and an important partner in Canada’s defence and innovation ecosystem, Toronto aligns more closely with the specific operational, financial and talent requirements of the DSRB,” the document reads.

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While it goes on to explain that Toronto is home to the top five bank headquarters and Canada’s largest pension funds, it also emphasized how the future DSRB would not have to deal with Quebec’s language laws should it be located in Ontario’s biggest city.

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“Toronto benefits from a highly predictable regulatory environment — free of additional language or cultural compliance requirements — providing operational clarity and administrative simplicity for a global institution,” it reads.

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“It also has unparalleled political stability, both on a national and global scale.”

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Later, it adds: “Toronto’s English- language business environment minimizes operational friction for a global financial institution.