Money & Finances

  1. Charities and not-for-profits are at the forefront of addressing communities’ needs, especially during the COVID 19 pandemic. However, many of them are struggling to recover and adapt their services to the changing needs of Canadians.
  2. Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, hosted a virtual meeting with provincial and territorial Finance Ministers. She was joined by the Minister of Tourism and Associate Minister of Finance, the Honourable Randy Boissonnault.
  3. COVID-19 Subsidies – Explanatory Notes Relating to the Income Tax Act and Income Tax Regulations
  4. The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to nearly 900,000 small businesses and not-for-profit organizations to help them navigate the pandemic and remain resilient.
  5. Our government understood at the outset that in order to win the fight against COVID-19, we need to have the right tools. We need vaccines. We need rapid tests. We need therapeutics. And we need to have the measures in place to support people and businesses economically to get through restrictions and lockdowns.
  6. In the past few days, there has been a rise in COVID-19 cases. Some regions of the country are reporting a record number of cases. The Omicron variant of the virus is much more transmissible than the others.
  7. Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates that will apply in 2022.
  8. The Government of Canada is committed to supporting Canadian workers and businesses through the COVID-19 pandemic. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government’s intention to temporarily expand eligibility for key support programs to ensure Canadians are protected and workers and businesses get the help they need to sustain them through new and necessary public health restrictions.
  9. Bill C-2, which received Royal Assent on December 17, 2021, included a new Local Lockdown Program to provide businesses that face temporary new local lockdowns with up to the maximum amount available through the wage and rent subsidy programs.
  10. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the Government of Canada will provide a record $87.6 billion in major transfer funding for provinces and territories in 2022-23. This represents an increase of over $3.7 billion from 2021-22. All provinces and territories will receive a year-over-year increase in total major transfer amounts.
  11. We are here today to make an announcement about Canada’s monetary policy framework – an important topic as our country continues its recovery from the COVID-19 recession.
  12. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the Royal Assent in Parliament of Bill C-2.
  13. Mr. Chair, congratulations on assuming the chair, and thank you for your invitation. I’d like to say to all the members here, congratulations to everyone on being elected and thank you for your hard work. Since the House has returned, the emergence of a new COVID-19 variant has forced new travel restrictions in a number of countries, including Canada, and created renewed uncertainty in global markets.
  14. As many of you know, the mandate of the Financial Consumer Agency of Canada — or FCAC — is to protect financial consumers.
  15. Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is maintaining the minimum qualifying rate for uninsured mortgages that came into effect on June 1, 2021.
  16. This backgrounder provides a high-level overview of the draft legislative proposals for the Digital Services Tax Act (Act) and invites input from stakeholders. For more detail, please refer to the draft legislative proposals.
  17. Twenty-one months ago, a global pandemic reached our shores. Few of us had any idea how long it would last or the toll it would take. And today, we are facing Omicron, an even more virulent variant of this virus.
  18. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released the Economic and Fiscal Update 2021. The document provides Canadians with a transparent report of the nation’s finances and updates Canadians on the government’s plan to finish the fight against COVID-19, support Canadians and Canadian businesses, and ensure a strong recovery for everyone.
  19. The Government of Canada is focused on making life more affordable for Canadians. Since the spring budget, the federal government has signed Canada-wide early learning and child care agreements with 9 provinces and 1 territory — to help a majority of young Canadian families save thousands of dollars per year, starting next month.
  20. Canada’s best economic policy continues to be finishing the fight against COVID-19. Millions of Canadians have been doing their part by getting vaccinated, following public health guidelines, and delivering essential services. This has helped prevent further lockdowns. Since the beginning of the pandemic, keeping Canadians safe and healthy has been the government’s top priority. But work remains to end the pandemic.
  21. The objective of Canada's monetary policy is to promote the economic and financial well-being of Canadians. Experience has shown that the best way monetary policy can achieve this goal is by maintaining a low and stable inflation environment. Doing so supports a strong and inclusive labour market that provides every Canadian with opportunities for a good quality of life.
  22. The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present the Economic and Fiscal Update 2021 in the House of Commons on December 14, 2021, at approximately 4:00 p.m. ET.
  23. The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present the Economic and Fiscal Update 2021 in the House of Commons on December 14, 2021, at approximately 4:00 p.m. ET.
  24. Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, today issued the following statement regarding the audit of the Temporary Foreign Worker (TFW): Program by the Office of the Auditor General (OAG).
  25. Employment and Social Development Canada (ESDC) is working to rebuild the TFW compliance regime to help better protect temporary foreign workers (TFWs), taking into account the Auditor General’s recommendations and lessons learned during the COVID-19 pandemic. Ongoing activities to strengthen ESDC’s risk-based approach to target higher risk employers include:
  26. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the release of draft regulatory proposals under the Greenhouse Gas Pollution Pricing Act, that integrate Ontario’s Emissions Performance Standards (EPS) facilities with the federal fuel charge, for 2022. This allows Ontario’s EPS facilities to register as an emitter, allowing them to obtain fuel without the federal fuel charge applying, given they will be subject to the provincial system. Output-based pricing systems like Ontario’s or the federal government’s ensure that as we move towards a net-zero emissions economy, we are protecting the competitiveness of Canadian businesses and supporting good jobs.
  27. The Government of Canada’s approach to pricing pollution gives provinces and territories the flexibility to implement the type of system that makes sense for their circumstances, as long as those systems align with minimum national stringency standards, or ‘benchmark’ criteria. By putting a specific price on carbon pollution, the government is giving Canadian businesses certainty and a clear incentive to move towards a net-zero economy, positioning Canada as a leader in the green transition.
  28. The Government of Canada has taken action to ensure that there is a price on carbon pollution across Canada. To ensure that carbon pollution pricing remains affordable for Canadians, direct proceeds from the federal pollution pricing system are returned to the jurisdictions where they were collected and the majority of proceeds are returned directly to Canadians through Climate Action Incentive (CAI) payments. These payments mean some 8 out of 10 families receive more money back than they pay in direct costs under this system.
  29. The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present an Economic and Fiscal Update in the House of Commons on December 14, 2021, at approximately 4:00 p.m. ET.
  30. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, met virtually with chief economists from major Canadian financial institutions to discuss their outlook on the Canadian economy and hear their views on Canada’s economic recovery.
  31. Today, the Honourable Mona Fortier, President of the Treasury Board of Canada, tabled the Supplementary Estimates (B), 2021–22, in the House of Commons.
  32. I’m Judith Robertson, the Commissioner of the Financial Consumer Agency of Canada.I’m delighted to be with you to launch the 2021 edition of Financial Literacy Month.
  33. Today, the International Financial Reporting Standards (IFRS) Foundation announced that it has selected Montréal, Quebec, to be home to offices of the new International Sustainability Standards Board (ISSB).
  34. Today, FCAC Commissioner Judith Robertson is launching the 11th annual Financial Literacy Month at a national virtual event, bringing together people and organizations from across the country that share a commitment to advancing financial literacy in Canada.
  35. Judith Robertson, Commissioner of the Financial Consumer Agency of Canada (FCAC), will launch the 11th annual Financial Literacy Month at a virtual event on Monday, November 1 at 1:00 p.m ET.
  36. In the coming days, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will travel to Rome to attend the G20 Joint Finance and Health Ministers’ Meeting and support the Prime Minister at the G20 Leaders Summit. The Deputy Prime Minister will then travel to the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) in Glasgow, United Kingdom.