Money & Finances

  1. This week, from May 18 to 20, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will participate in the G7 Finance Ministers and Central Bank Governors Meetings in Bonn and Königswinter, Germany.
  2. Appearance before the Standing Committee on Finance for Pre-study of Bill C-19, the Budget Implementation Act
  3. I’d like to first say that like so many Canadian women, I was both shocked and deeply worried by the news from the United States last night about abortion rights.
  4. Today, the Department of Finance released draft legislative proposals that would address hybrid mismatch arrangements, which are used primarily by multinational enterprises to avoid paying their fair share of tax, as committed to in Budget 2021.
  5. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, introduced Bill C-19, An Act to implement certain provisions of the budget tabled in Parliament on April 7, 2022 and other measures.
  6. When I tabled the Budget last week, one of the things I emphasized was that the green transition is here. The world economy, our trading partners, have decided that their economies are going green and this is a huge transformation. It is the biggest transformation of the global economy since the Industrial Revolution itself. We have a unique opportunity in Canada—and in Alberta—to be leaders in that green transition. I’ve seen the evidence in the past hour here today.
  7. Let me be very clear: Russia is committing war crimes right now, even as we are sitting here in our embassy in Washington. In addition to causing widespread destruction and death, Putin’s war is having a profound impact on the global economy.
  8. This week, the Government of Canada issued a three-year US$3.5 billion global bond.
  9. In response to Russia’s invasion, Canada has joined its partners and allies in imposing the strongest sanctions ever inflicted on a major economy, while also directly sanctioning President Putin and over 900 other Russian individuals and entities. Canada has also provided immediate support to Ukraine and its people, and has offered two bilateral sovereign loans to Ukraine, worth up to CA$620 million. Canada will continue to do more in the weeks and months to come.
  10. G7 Finance Ministers and Central Bank Governors' Statement on Russia's war of aggression against Ukraine
  11. Housing is a basic human need, and we need to ensure that everyone in Canada has a safe place to call home.
  12. This week, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, will travel to Washington to participate in the Spring Meetings of the International Monetary Fund (IMF) and World Bank.
  13. In Budget 2022, the Government of Canada reiterated its commitment to maintain liquid foreign reserves at or above three per cent of nominal gross domestic product.
  14. The Honourable Mona Fortier, President of the Treasury Board of Canada, along Ruby Sahota, Member of Parliament for Brampton-North, will make an announcement about new and important measures that support access to affordable housing for Canadians in Budget 2022.
  15. Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, toured Dalhousie University with medical and nursing students to discuss how Budget 2022 bolsters Canada’s public health care system, and how to ensure Canadians in rural communities get the high-quality health care they deserve.
  16. As you just heard from the Prime Minister, a centrepiece of the Budget that we tabled yesterday is investing in people—investing in Canadians.
  17. Budget 2022 proposes to invest an additional $11 billion over six years to continue to support Indigenous children and families, and to help Indigenous communities continue to grow and shape their futures.
  18. The past two years, in particular, have reminded us of the systemic barriers and vulnerabilities faced by Black and racialized Canadians, Indigenous peoples, persons with disabilities, women, seniors, and LGBTQ2 Canadians. Budget 2022 introduces new measures to promote a more equitable, more inclusive Canada, and to build communities where everyone is empowered to succeed.
  19. Since the start of the pandemic, the federal government has invested more than $69 billion, with more funding to be rolled out in future years, to lead a coordinated federal, provincial, and territorial response to fight COVID-19 and protect the health and safety of Canadians.
  20. Making life more affordable is one of the government’s primary goals in Budget 2022. In the long run, this will require addressing long-standing, structural challenges to deliver meaningful improvements in living standards for more Canadians.
  21. Russia’s further invasion of Ukraine has reminded us that the international community is strongest when it acts together in defence of the values we share. In partnership with like-minded democracies around the world, Canada will continue to stand up to the global threats that recognize no borders.
  22. Canada’s rural communities are a driver of economic growth, and home to a wide range of industries including agriculture, mining, and tourism. To support this growth, Budget 2022 announces a range of important programs and initiatives that are supporting Canadians living and working in rural communities.
  23. In Budget 2022, the government is putting in place important measures that will help address these issues and meet the needs of our workers, our businesses, and the Canadian economy so that it can keep growing stronger for years to come.
  24. In Budget 2021, the federal government made an historic investment of $30 billion over five years to build a Canada-wide early learning and child care system. In less than a year, it reached agreements with all 13 provinces and territories. By the end of 2022, child care fees will be reduced by an average of 50 per cent, and by 2025-26, child care fees will average $10-a-day for all regulated child care spaces, from coast-to-coast-to-coast.
  25. Smart climate investments today are good for Canadian workers, good for the Canadian economy, and good for the planet. With the largest mobilization of global capital since the Industrial Revolution already underway, Canada has the chance to become a leader in the clean energy of the future. Budget 2022 will help Canada continue to lead in global efforts to fight climate change, to protect our nature, and to build a clean economy that will create the good-paying middle class jobs of today and tomorrow.
  26. Budget 2022 proposes additional measures that will make the tax system more fair, and new steps to ensure that the federal government is delivering the effective programs and services that Canadians deserve.
  27. Budget 2022 outlines the additional steps that need to be taken—the steps that will create new, good-paying jobs for Canadians; help more people join the middle class; and set Canada up to be an economic leader for decades to come.
  28. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable.
  29. Mr. Speaker, we all remember that Thursday in March, just over two years ago, when our travel plans were hastily cancelled, when our children came home from school, when we rushed to the grocery store to buy toilet paper and hand sanitizer. We knew then that this virus would disrupt our lives. But few of us realized quite how much or for quite how long.
  30. Everyone should have a safe and affordable place to call home. Budget 2022 takes significant steps that will build more homes and make housing more affordable across the country.
  31. The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present Budget 2022 in the House of Commons on April 7, at approximately 4:00 p.m. EDT.
  32. We have now signed agreements with provinces and territories – across this whole country – to deliver $10-a-day early learning and child care to Canadian parents and families.
  33. Canadians are rightfully proud of their publicly funded health care system. Ensuring accessible, public, high-quality health care is ever critical as we adapt to a post-pandemic reality. The COVID-19 pandemic has delayed an estimated 700,000 surgeries and other medical procedures, resulting in an increase of waitlists and backlogs. The federal government is today taking further action to help provinces and territories deliver quicker access to health care, reduce the backlog accumulated during the pandemic and support hundreds of thousands additional surgeries.
  34. Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, announced the 2022-23 Climate Action Incentive (CAI) payment amounts. To ensure that carbon pollution pricing remains affordable for Canadians, the federal government returns all proceeds to the jurisdictions where they were collected, with the majority of proceeds from the federal pollution pricing system returned directly to Canadians through CAI payments.
  35. The government has proposed to deliver CAI payments on a quarterly basis starting this year
  36. This week, the Government of Canada successfully issued its inaugural 7.5-year, $5 billion green bond. This transaction fulfills the government’s commitment to issue a $5 billion green bond within the fiscal year.
  37. The Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, and Rachel Bendayan, Parliamentary Secretary to the Minister of Tourism and Associate Minister of Finance, will hold a press conference regarding the green bond issuance. The press conference will be held in-person only.
  38. Today, the Honourable Randy Boissonnault, Minister of Tourism and Associate Minister of Finance, announced that the government is taking the next step towards establishing Canada’s open banking system with the selection of Abraham Tachjian as the open banking lead.
  39. Biographical notes - Abraham Tachjian
  40. The Government of Canada is announcing its plan to issue its inaugural Canadian-dollar-denominated green bond this week, subject to market conditions.
  41. In Budget 2021, the government proposed the introduction of a tax on the sale of new luxury cars and aircraft with a retail sale price over $100,000, and new boats over $250,000. The tax would be calculated at the lesser of 20 per cent of the value above these price thresholds or 10 per cent of the full value of the luxury vehicle, aircraft or vessel.
  42. Today, the Government of Canada published its Green Bond Framework, in advance of an inaugural green bond issuance of $5 billion in fiscal year 2021-22. This inaugural issuance sets the path for future issuances, beyond this first highly-rated offering.
  43. Remarks by the Deputy Prime Minister and Minister of Finance regarding Russia’s ongoing invasion of Ukraine
  44. Today, the Department of Finance Canada released its annual estimates of the fiscal cost of federal tax measures in the 2022 Report on Federal Tax Expenditures—Concepts, Estimates and Evaluations. In addition to providing transparency as to Canada’s tax system, this year’s report contains four analytical papers, including an economic evaluation of the government’s emergency wage subsidy programs, which have protected over 5.3 million Canadian jobs through the worst of the pandemic.
  45. Canada continues to take action in opposing the Russian Federation’s unprovoked invasion of Ukraine. Russia has violated Ukraine’s sovereignty, territorial integrity, and independence.
  46. Today, we woke up to a changed world.
  47. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Elizabeth A. Wademan as the new President and CEO of the Canada Development Investment Corporation (CDEV) for a five-year term, beginning on March 28, 2022.
  48. Elizabeth Wademan has over 24 years of financial services experience as a senior capital markets executive and experienced corporate director.
  49. Concrete support for the Franco-Manitoban community: the governments of Canada and Manitoba announce significant investments
  50. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced next steps in light of the revised cost estimate and completion timeline published by Trans Mountain Corporation (TMC) for the Trans Mountain Expansion Project (the project).