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1. The representatives of the Group of Creditors of Ukraine held a meeting on 23 March 2023, in the presence of representatives of the International Monetary Fund and the World Bank, to provide financing assurances to support the approval by the IMF Executive Board of the envisaged IMF programme for Ukraine, which would help to restore the country’s macroeconomic stability.
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I am so glad to be here today with many of the great workers from FLO here in Québec City.
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And I am so glad to be here today with so many incredible members of the International Brotherhood of Electrical Workers—from here in Oshawa and across Ontario.
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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present Budget 2023 in the House of Commons on March 28, 2023, at approximately 4:00 p.m. ET
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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, issued the following statement
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First, I want to acknowledge that we’re gathered on the traditional lands of the Mississaugas of the Credit First Nation, The Haudenosaunee Confederacy, the Huron-Wendat and the Wyandot Nations.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, issued the following statement
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the following statement regarding Trans Mountain Corporation’s (TMC) update on the Trans Mountain Expansion Project
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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced today that the government will table its 2023 budget on March 28, 2023, in the House of Commons, at approximately 4:00 p.m. ET.
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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that Canada is banning the import of Russian aluminum and steel products.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, met with chief economists from major Canadian financial institutions to discuss their outlook on the Canadian and global economies, and to hear their views on the government’s work to support and invest in Canadians.
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Last month our government unveiled a historic plan to strengthen public health care across Canada. All told, our plan will deliver $198.6 billion in additional federal funding for health care over the next ten years.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the Organisation for Economic Co-operation and Development (OECD)’s 2023 Economic Survey of Canada.
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Since the beginning of Russia’s illegal full-scale invasion of Ukraine on February 24, 2022, Canada and our international partners have imposed severe, wide-reaching sanctions on individuals and entities in Russia, Belarus, and Ukraine who are complicit in Putin’s illegal war.
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On February 24 last year, Russia launched its illegal, unjustifiable, and unprovoked war of aggression against Ukraine, which is also an attack on the rule of law and the principles of the UN Charter. On the eve of the one-year mark, we reaffirm our unwavering support for Ukraine and unity in our condemnation of Russia’s war of aggression and the resulting tragic loss of life and destruction of property. We remain determined to foster international cooperation to uphold multilateralism and address the global economic hardships caused by Russia’s war and its weaponization of food and energy, which are disproportionately felt by low- and middle-income countries.
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This week, from February 23 to 25, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will attend meetings of the G7 and G20 Finance Ministers and Central Bank Governors in Bengaluru, India.
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In creating the CIC, the government is following through on its Budget 2022 commitment to establish an innovation agency to drive Canadian business investment in research and development (R&D) and foster economic growth. The CIC will operate with an initial budget of $2.6 billion over four years, and is expected to begin its operations in 2023.
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Today, the Department of Finance Canada released its annual estimates of the fiscal cost of federal tax measures in the 2023 Report on Federal Tax Expenditures—Concepts, Estimates and Evaluations.
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This announcement is really the best of Canada. This is about Canada today and about Canada’s future.
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From 2015 to 2020, Dwight Ball was Premier of Newfoundland and Labrador, where he successfully led the provincial government through a major reshaping of its economic and fiscal outlook. Prior to becoming Premier he was the leader of the Official Opposition from 2011 until 2015.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Dwight Ball to the Canada Development Investment Corporation (CDEV) Board of Directors for a four-year term.
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During the pandemic, the federal government provided eight out of every ten dollars to support Canadians and Canadian businesses. In the midst of a once-in-a-century crisis, that was the right thing to do. It kept Canadians safe and solvent, kept Canadian businesses afloat, and supported the provinces and territories in preventing their health systems from being completely overwhelmed.
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Let me begin by acknowledging that the land on which we gather is the traditional territory of the Three Fires Confederacy of First Nations.
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Certainly from the federal government’s perspective, even as we face the big and important challenges of today—even as we recognize we need to meet the moment when it comes to building that clean economy, creating those Canadian jobs, and supporting our health care system—we recognize we’re doing it at a time of real fiscal constraints and when fiscal responsibility is important as well.
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Today I hosted a provincial and territorial Finance Ministers’ meeting. This was a return to in-person meetings and it was helpful to get together and to see each other face-to-face. We had a very rich, wide-ranging conversation today working together on key priorities for Canadians.
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On 4 February 2023, members of the Price Cap Coalition reached consensus on the maximum prices for seaborne Russian-origin petroleum products.
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Today, Canada, our G7 partners, and Australia are moving forward with two price caps for seaborne Russian-origin petroleum products, which build on the Russian crude oil price cap announced on December 2, 2022.
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Today in Toronto, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, hosted a meeting with provincial and territorial Finance Ministers to discuss the state of the Canadian economy and a range of shared priorities.
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Yesterday in Ottawa, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, met with the European Union (EU) Commissioner for Internal Market, Thierry Breton.
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The Deputy Prime Minister and Minister of Finance will host an in-person meeting with provincial and territorial Finance Ministers in Toronto, Ontario.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of David Dominy, Ernie Daniels, and Shelley Williams as Directors on the Board of the Bank of Canada.
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Biographical Notes – Shelley Williams
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Mr. David Dominy has over 25 years of CEO experience, most recently with Canada’s largest domestically-owned Money Services Business, FIRMA Foreign Exchange Corporation, from 2014 to 2022. He is an expert in financial management and analysis, risk management and strategic planning with a proven track record of attracting and leading exceptional leadership talent. Since 2003, he has also provided investment and advisory services as president of 3D Capital Inc.
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Biographical Notes – Ernie Daniels
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Today in Washington, D.C., the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, met with the Secretary of the Treasury of the United States, Janet L. Yellen.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Sean Strickland to the Canada Development Investment Corporation (CDEV) Board of Directors, and the reappointment of Stephen Swaffield as Board Chair, both for a four-year term.
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Stephen Swaffield has significant experience in Canada’s financial and energy sectors. He has held senior roles with Canaccord Financial, Tarasen Inc., and RBC Capital Markets.
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Sean Strickland is a senior construction executive with extensive experience in design-build-finance-operate and maintain and public-private partnerships delivery methods.
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Throughout 2022 and looking ahead to the new year, our commitment to supporting Ukraine remains unwavering. The G7 will continue to stand firmly with Ukraine for as long as it takes. We reiterate the statement made by our Leaders on 12 December 2022 and join them in condemning Russia’s war of aggression and the resulting tragic loss of human lives as well as Russia’s continuous inhumane and brutal attacks targeting critical infrastructure, in particular energy and water facilities, and cities across Ukraine. We have a moral imperative to help Ukraine resist Russia’s unprovoked assault – an assault which is also an attack on the underpinnings of the rules-based international system.
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I am so happy to announce that parents in Ontario will see their child care fees reduced by 50 per cent on average by the end of this year. And Ontario is on track to see child care fees of just $10-a-day by March 2026.
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Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2023.
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Today, Canada disbursed the $500 million loan through the International Monetary Fund’s (IMF) multi-donor Administered Account for Ukraine.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the Government of Canada will provide a record $94.6 billion in major transfer funding to provinces and territories in 2023-24.
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Today, Bill C-32, the Fall Economic Statement Implementation Act, 2022, received Royal Assent. With the passage of this legislation, the government is delivering on key measures from the 2022 Fall Economic Statement to help families cope with increasing costs, make housing more affordable, and strengthen and build a thriving net-zero economy with opportunities and good jobs for Canadians.
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Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is maintaining the minimum qualifying rate for uninsured mortgages at its current level. This rate came into effect on June 1, 2021, and was reaffirmed on December 17, 2021.
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With the Canadian economy facing global headwinds and Canadians contending with the impacts of global inflation and elevated interest rates, the suggestions received from Canadians will inform measures and investments in Budget 2023 that will help build an economy that works for everyone.
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I would like to begin by acknowledging that we are gathered on the traditional territories of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat peoples.
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The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, announced today at the Standing With the Ukrainian People conference in Paris, France, that Canada will transfer $115 million in tariff revenues collected on imports from Russia and Belarus to repair Kyiv’s power grid following repeated Russian attacks against Ukraine’s energy infrastructure.
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The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will represent Canada at the Standing With the Ukrainian People conference in Paris, France, on December 13.
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Mr. Chair, it is my pleasure to appear before all of you to discuss Bill C-32—the Fall Economic Statement Implementation Act. I want to briefly outline some of the key measures in Bill C-32 that I hope Senators will support.
