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Bill C-78 proposes a two-month tax break to all Canadians, from December 14, 2024, to February 15, 2025. With a GST/HST exemption across the country, Canadians will be able to buy essentials like groceries, prepared foods, snacks, and kids’ clothing—all tax-free.
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The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present the 2024 Fall Economic Statement on Monday, December 16, 2024.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced an investment of up to $240 million in Cohere, a Toronto-based AI leader—the first investment through the new $2 billion Canadian Sovereign AI Compute Strategy launched yesterday.
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I would like to start by pointing out that we have some good news regarding the economy. Now in October, inflation was at two per cent. For 10 months inflation was within the Bank of Canada’s target range. This is good news for all Canadians, for all the people who live in Toronto. Because of this, it is now possible for interest rates to come down.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement and Quebec Lieutenant, highlighted how the government is putting more money in your pocket.
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The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement and Quebec Lieutenant, Jean-Yves Duclos.
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Earlier today, the Office of the Auditor General of Canada tabled its fall report, one section of which examines the Canada Emergency Business Account (CEBA).
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Today in Toronto, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the Toronto Transit Commission (TTC) will receive nearly $1.2 billion over the next decade through the Baseline stream of the new Canada Public Transit Fund. She was joined by the Honourable Peter Bethlenfalvy, the Minister of Finance of Ontario, the Honourable Prabmeet Sarkaria, the Minister of Transport of Ontario, and Her Worship Olivia Chow, Mayor of Toronto. The Canada Public Transit Fund is the largest public transit investment in Canadian history with $3 billion in annual federal funding provided to communities across the country.
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Opening statement to the Standing Committee on Industry and Technology (INDU) by Commissioner Shereen Benzvy Miller
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The government can’t set prices at the checkout, but it can help Canadians with more money in their pocket. To help them buy the things they need and save for the things they want, today the government introduced Bill C-78, the Tax Break for All Canadians Act in Parliament. Bill C-78 proposes to provide a two-month Goods and Services Tax/Harmonized Sales Tax (GST/HST) break for holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts.
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I’d like to start by talking about the good news on inflation. Inflation was two per cent in October. That means for the past 10 months inflation in Canada has been within the Bank of Canada’s target range.
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It’s great to be here in the heart of such an important community, so close, to make some announcements that will really help middle class Canadians with the issue they are most worried about, and that is affordability.
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I’m going to start by talking about the Canadian economy, our tax break, our rebate for Canadian workers and an update on the Carbon Rebate for Small Businesses.
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Canada and the United States have one of the strongest and closest relationships–particularly when it comes to trade and border security. Canada places the highest priority on border security and the integrity of our shared border.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, alongside the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement and Quebec Lieutenant, and the Honourable Rechie Valdez, Minister of Small Business, announced progress delivering new action to put more money in the pockets of Canadians and small businesses.
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The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement and Quebec Lieutenant, Jean-Yves Duclos, and the Minister of Small Business, Rechie Valdez.
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Minister Khera highlights the government's tax break for all Canadians and new Working Canadians Benefits
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The government can’t set prices at the checkout, but we can give Canadians more money in their pockets. To help them buy the things they need and save for the things they want, the government announced that it will be introducing legislation in Parliament that would provide for the delivery of a new $250 Working Canadians Rebate to 18.7 million Canadians in early spring 2025.
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The government is proposing that the GST/HST be fully and temporarily relieved on holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts, from December 14, 2024, to February 15, 2025. This tax break will make a meaningful difference for Canadians by making essentially all food GST/HST free, providing real relief at the cash register.
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement and Quebec Lieutenant, announced significant progress to deliver Canada’s housing plan.
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The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement and Quebec Lieutenant, Jean-Yves Duclos.
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Opening statement to the Standing Committee on Industry and Technology (INDU) by Dr. Supriya Syal, Deputy Commissioner, Research, Policy and Education
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The time has come for us to be decisive about pushing Russian oil out of the world market. That Russian oil is quite literally funding Putin’s war machine. We’ve taken significant steps to push that Russian oil out of the world market. Now, we need to move further and work harder. And I believe, Canada believes, that now is the moment to undertake that work with our allies. And I’m glad to be saying that to you here at UCC Alberta because Canada as an energy power, Alberta as an energy power, has a real voice and a real role to play in making it possible for us, as the G7, to really push Russian oil out of the global market.
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Remarks by the Deputy Prime Minister highlighting 108 new affordable homes at Sault Ste. Marie’s Royal Canadian Legion
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Remarks by the Deputy Prime Minister on helping nearly 1 million Canadians save for their first home and results of the United States election
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that now nearly 1 million Canadians have opened a Tax-Free First Home Savings Account to save for their first downpayment.
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Today, the Department of Finance is launching consultations to help inform the Minister of Finance’s decision regarding National Bank of Canada’s proposed acquisition of Canadian Western Bank, which was first announced on June 11, 2024.
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Remarks by the Deputy Prime Minister at the Standing Committee on Natural Resources Regarding the Trans Mountain Expansion Project
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Today in Sault Ste. Marie, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited Royal Canadian Legion Branch 25 at 96 Great Northern Road, where construction was recently completed on 108 new affordable homes for veterans and their families.
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Canadians now have a single external complaints body for banking
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We, the G7 Finance Ministers and Central Bank Governors, met on 25 October 2024 in Washington, DC. We were honoured to be joined by the Ukrainian Finance Minister Sergii Marchenko.
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Canadians encouraged to talk money as FCAC launches Financial Literacy Month 2024
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Financial Literacy Month launch event From: Financial Consumer Agency of Canada
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We’re launching a $200 million regional AI initiative. The regional development agencies will help support AI start-ups to bring new technology to market. And they will help drive AI adoption by Canadian businesses across the economy. I do want to say to Canadian businesses who are excited about the benefits of AI in their businesses, please think about using a Canadian AI company when you are using AI in your business. This is a great strength we have; take advantage of the great AI companies we have here at home.
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Every woman should be free to make her own decisions about her own body. Every woman in Canada should have access to the health care she needs.
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Concerns have been raised that some registered charities that offer reproductive health services to women, including pregnancy options counselling, may be spreading misinformation by presenting themselves as neutral, full-service pregnancy support service organizations when they are in fact anti-choice organizations that push women away from accessing the reproductive care of their choice.
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We’ve been through a tough time. When COVID first hit, our country suffered the deepest recession since the Great Depression. Our economy shrank by 17 per cent and it’s been tough getting out of that. In recent weeks, we’ve had some good news. What we’ve been seeing is light at the end of the tunnel. We are approaching a soft landing for the Canadian economy after the turbulence of the COVID recession and what followed.
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The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement and Quebec Lieutenant, Jean-Yves Duclos, the Minister of Health, Mark Holland, and the Minister for Women and Gender Equality and Youth, Marci Ien.
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Statement by the Deputy Prime Minister and Minister of Finance on the Extraordinary Revenue Acceleration Loan Mechanism and Russian Sovereign Assets
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G7 Finance Ministers’ Statement on Extraordinary Revenue Acceleration (ERA) Loan Initiative
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Remarks by the Deputy Prime Minister on measures to help Canadians buy or rent a home
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This week, from October 23 to 25, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will attend the Fall Meetings of G7 and G20 Finance Ministers and the Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington D.C.
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Workers are at the heart of Canada’s economy. For our economy and for every generation to reach their full potential, Canadian workers need good-paying jobs. We’re doing this by making investments that increase productivity, boost innovation, and accelerate the flow of capital into Canada. And we’re doing everything we can to protect Canadian workers from unfair competition.
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The Deputy Prime Minister and Minister of Finance will provide an update on the government’s economic plan. She will be joined by the Minister of Public Services and Procurement and Quebec Lieutenant, Jean-Yves Duclos, and the Minister of Employment, Workforce Development and Official Languages, Randy Boissonnault.
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Canadian workers, the auto sector, the steel and aluminum industries, and related critical manufacturing supply chains are threatened by unfair competition from Chinese producers, who benefit from China’s intentional, state-directed policy of overcapacity and oversupply, as well as its lack of rigorous labour and environmental standards. The federal government has recently implemented a suite of tariffs (also known as surtaxes) on certain Chinese imports to level the playing field and protect Canada’s workers and businesses from China’s unfair trade policies. These include:
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The federal government’s generational investments like the Canada Child Benefit, which provides families with up to nearly $8,000 per child, per year, help cover the costs of essentials children need. We’re building on this support by providing healthy meals at school, so children have what they need to learn, grow, and succeed—regardless of their family’s circumstances.
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Biographical Notes – Shereen Miller
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Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Shereen Miller as Commissioner of the Financial Consumer Agency of Canada (FCAC) for a five-year term, beginning on November 7, 2024.
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Today, we issued an additional $2 billion in green bonds. That brings our green bond issuance in total to $11 billion. We are finding there is high demand for Canadian green bonds. It’s a space where we’re going to continue to be active.
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This week, the Government of Canada successfully re-opened its second Canadian-dollar-denominated green bond, following its initial issuance in February 2024. This $2 billion re-opening of a 10-year bond is part of a commitment to regular green bond issuances.
