Department of Finance Canada

  1. Today, the Department of Finance launched consultations on the Budget 2024 commitment to establish an opt-in framework for interested Indigenous governments to impose their own Fuel, Alcohol, Cannabis, Tobacco, and Vaping (FACT) value-added sales taxes. Expanding opt-in tax jurisdiction would enable Indigenous governments to better exercise their tax jurisdiction with more flexibility.
  2. The Canada Growth Fund and Strathcona Resources—Canada’s fifth-largest oil producer—have agreed to invest up to $2 billion combined to build carbon capture and sequestration infrastructure on Strathcona’s steam-assisted, gravity drainage oil sands facilities in Saskatchewan and Alberta.
  3. Our government is committed to delivering fairness for every generation of Canadians. That’s why, last year, we launched the new Canadian Dental Care Plan. Because up until very recently in Canada, you’ve been able to tell how much money someone makes, or how much money their parents make, by their smile. That’s not right. It’s not fair. Our government is now changing that now.
  4. Our government is delivering fairness for every generation. And our plan includes investing in Canada’s athletes—like the amazing athletes here with us today. They represent us, they wear the maple leaf, and we are so proud of them.
  5. Remarks by the Deputy Prime Minister and Minister of Finance at the unveiling of the L.M. Montgomery commemorative circulation coin
  6. Auto manufacturing directly supports over 125,000 good-paying Canadian jobs, many of which are unionized. Canada’s electric vehicle (EV) supply chain potential is ranked first in the world—and the federal government is seizing the growth opportunities of EVs to ensure Canadian auto workers can succeed well into the future.
  7. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the announcement of the Canada Growth Fund’s fifth investment.
  8. Remarks by the Deputy Prime Minister on investing $2 billion in high-speed internet for Canadians
  9. Remarks by the Deputy Prime Minister announcing a consultation to protect Canadian workers and electric vehicle supply chains from unfair Chinese trade practices
  10. High-speed internet access is more essential than ever to keep Canadians connected. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, highlighted that the Canada Infrastructure Bank (CIB) has invested more than $2 billion in eight internet service providers. This investment is supporting high-speed internet projects, connecting 430,000 more rural and remote Canadians households.
  11. I am glad to be here with the students, teachers and parents of this incredible school, Lord Roberts Elementary School, and the people of LunchLAB, who do something so amazing for the kids and the families and the communities here.
  12. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the reappointment of David Dominy, Raymond E. Ivany, and Mariette Mulaire to the Board of Directors of the Bank of Canada. The appointees’ tenures are extended to February 28, 2027.
  13. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Tanya van Biesen to the Board of Directors of the Canada Deposit Insurance Corporation (CDIC) for a 4-year term.
  14. Mr. David Dominy was appointed to the Bank of Canada’s Board of Directors in January 2023. Mr. Dominy has more than 25 years of CEO experience, most recently with Canada’s largest domestically-owned money services business, FIRMA Foreign Exchange Corporation (2014 to 2022). Since 2003, he has also provided investment and advisory services as president of 3D Capital Inc.
  15. Mr. Raymond Ivany was appointed to the Bank of Canada’s Board of Directors in September 2018.
  16. Ms. Mariette Mulaire was appointed to the Bank of Canada’s Board of Directors in June 2018.
  17. Ms. Tanya van Biesen was appointed to the role of President and CEO of Women in Capital Markets in January 2024, where she uses her experience to contribute to achieving the organization’s mission of accelerating equity in finance for women and gender-diverse individuals.
  18. Remarks by the Deputy Prime Minister on growing communities and investing $10 million in Toronto’s Harbourfront Centre
  19. Auto manufacturing directly supports over 125,000 good-paying Canadian jobs, many of which are unionized. Canada’s electric vehicle (EV) supply chain potential is ranked first in the world—and the federal government is seizing the growth opportunities of EVs to ensure Canadian auto workers can succeed well into the future.
  20. Harbourfront Centre is Toronto’s waterfront home to arts, cultural, and recreational programming. Budget 2024 takes action to empower artists and art organizations to make our communities more inclusive, vibrant, and resilient—so that every generation has a fair shot at a good middle class life.
  21. With Parliament rising for the summer soon, today is an important opportunity to highlight the work our government is doing to deliver fairness for every generation.
  22. Today, Bill C-69, the Budget Implementation Act, 2024, No. 1, received Royal Assent. With the passage of this legislation, the government is advancing key priorities from Budget 2024: Fairness for Every Generation.
  23. Today, Bill C-59, the Fall Economic Statement Implementation Act, 2023, received Royal Assent. With the passage of this legislation, the government is delivering on key measures from the 2023 Fall Economic Statement to help make life cost less, build more homes, and ensure our economic growth is shared by all.
  24. Remarks by the Deputy Prime Minister on the Canadian economy
  25. Remarks by the Deputy Prime Minister on delivering tax fairness for Canadians
  26. Budget 2024 is strengthening Canada's social safety net by improving access to dental care so that every generation can have a fair shot at receiving the care they deserve while making life cost less.
  27. Remarks by the Deputy Prime Minister on tabling a Notice of Ways and Means Motion to deliver tax fairness for every generation
  28. Tomorrow, we will introduce changes that will result in a small number of well-off Canadians paying a little more in tax when they sell a successful investment.
  29. The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Health, Mark Holland, the Minister of Families, Children and Social Development, Jenna Sudds, and the President of the Treasury Board, Anita Anand.
  30. The Department of Finance today released draft regulations to enable Alberta, Manitoba, New Brunswick, Yukon, and Prince Edward Island to participate in Canada’s coordinated vaping taxation framework. Ontario, Quebec, the Northwest Territories, and Nunavut are already parties to the framework.
  31. I am so happy to be here. I am happy to be here in Toronto. I’m happy to be here in the amazing community I have the privilege to represent as a Member of Parliament. And I am really happy to be here at the Charles Hastings Housing Co-op.
  32. I will speak first about our government’s action to improve tax fairness for all Canadians, the Canada Growth Fund’s newest investment, making mortgages more affordable, and the Budget Implementation Act.
  33. I am really happy to announce that the federal government is investing $6.97 million in the Peel Region through the Investing in Canada Infrastructure Program.
  34. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the International Monetary Fund (IMF)’s Staff Concluding Statement of the 2024 Article IV Mission.
  35. Budget 2024 is seizing the opportunities of today to build a Canada that works better for every generation.
  36. In Budget 2024, the federal government announced it would amend mortgage rules to allow up to 30 year mortgages for first-time homebuyers purchasing new builds.
  37. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the announcement of the Canada Growth Fund’s fourth investment.
  38. The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement, Jean-Yves Duclos, and the Minister of Housing, Infrastructure and Communities, Sean Fraser.
  39. The government is committed to tax fairness for Canadians. Today, Canadians pay tax on the income from their job. But currently, they only pay taxes on 50 per cent of capital gains, which is the profit generally made when an asset, such as stocks or a rental property, is sold.
  40. In Budget 2024, the federal government announced changes to capital gains taxation to make Canada’s tax system fairer.
  41. One half of a capital gain is currently included in computing a taxpayer's income. This is referred to as the capital gains inclusion rate. The current one-half inclusion rate also applies to capital losses.
  42. Public transit gets Canadians to where they need to be, creates new Canadian manufacturing and construction jobs, reduces pollution and congestion, makes life more affordable, and keeps Canadians and communities connected as they grow. It’s only fair that Canadians have a fast and affordable way to get around—that’s why the federal government is investing in public transit infrastructure across the country.
  43. I am so so glad to be here today at the Blackhurst Cultural Centre in Toronto.
  44. The Budget Implementation Act is a critical piece of our economic plan to build a Canada that works for every generation, particularly younger Canadians, a Canada where they can get ahead, and where they know their hard work will pay off.
  45. Budget 2024 is seizing the opportunities of today to build a Canada that works better for every generation.
  46. The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Labour and Seniors, Seamus O’Regan, and the Minister of Housing, Infrastructure and Communities, Sean Fraser.
  47. Budget 2024: Growing communities and rebuilding Toronto’s Blackhurst Cultural Centre
  48. We’re backing ground-breaking industries, ground-breaking ideas, ground-breaking research so that Canada remains on the cutting edge of the technologies of tomorrow, and the good jobs and the good lives that they will bring.
  49. To unlock good-paying opportunities for every generation and secure Canada’s position at the forefront of the world’s advanced economies, we need to ensure our homegrown research talent can reach their full potential. To keep making scientific advances—from tech and AI to climate change and marine sciences—students and researchers today need cutting-edge facilities, grants to fund new projects, and more generous scholarships and fellowships to attract top-tier, homegrown talent.
  50. Economic growth and innovation and the new Canadian Entrepreneurs’ Incentive.