Money & Finances

  1. Many younger Canadians had a tough introduction to their adult lives. Millennials coming of age in the early 2000s endured the chaos and challenge of the Great Recession. Many in Gen Z became adults during the Covid pandemic. Both generations have strived to pursue careers and start families in a time of high inflation, high interest rates, and high housing costs.
  2. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the announcement of the third investment by the Canada Growth Fund—a $50 million investment in Montréal-based Idealist Capital. This will help innovative clean tech businesses across Canada to scale-up their ideas into solutions that will create good jobs, grow the economy, and accelerate Canada and the world’s progress towards net-zero.
  3. Remarks by the Deputy Prime Minister at the Standing Committee on Finance regarding Bill C-59, the Fall Economic Statement Implementation Act, and Main Estimates
  4. And that’s why our government is working every single day to build more homes faster, and to make life more affordable for Canadians and their families.
  5. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited Hudson House in Victoria to highlight how Canada’s economic plan is building more homes, faster.
  6. And today, I have an announcement. I am really glad to announce that our government will be extending this two per cent cap on the excise duty for an additional two years.
  7. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Rechie Valdez, Minister of Small Business, announced that the federal government is delivering thousands of dollars in alcohol excise duty relief to Canadian businesses, particularly local craft breweries.
  8. On March 9, 2024, the federal government announced a two-year extension of the two per cent cap on the annual alcohol excise duty inflation adjustment, and a 50 per cent reduction for two years on excise duty rates for the first 15,000 hectolitres of beer brewed in Canada.
  9. The work you do here is so important, and I just want to start by recognizing that and thanking all the health care professionals across Canada, and a personal thank you to all the amazing people here at Women’s College Hospital.
  10. In advance of the 2024 federal budget, today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, met with leading private sector economists to discuss their outlook on the Canadian and global economies, as well as to hear their views on the federal government’s economic plan to unlock pathways to the middle class for the next generation.
  11. The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present Budget 2024 in the House of Commons Tuesday April 16, 2024, at approximately 4:00 p.m. ET.
  12. This week, the Government of Canada successfully issued its second green bond. This 10-year, $4 billion green bond fulfills the government’s commitment in the 2023 Fall Economic Statement to issue a $4 billion green bond in the 2023-24 fiscal year.
  13. In a moment, I will speak about the Canadian economy today and about how our economic plan is making life more affordable for Canadians.
  14. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, joined by the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, and the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced new action, as part of Canada’s economic plan, to build more homes, faster, and strengthen competition to lower prices for Canadians.
  15. The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Housing, Infrastructure and Communities, Sean Fraser, and the Minister of Innovation, Science and Industry, François-Philippe Champagne.
  16. This follows the successful issuance of Canada’s first 7.5-year, $5 billion green bond in March 2022.
  17. I love Winnipeg, and I am so happy to be in Winnipeg today. And I am really happy to be here with the team at the University of Winnipeg Community Renewal Corporation and to see first-hand the amazing work you are doing, the amazing homes you are creating, and the amazing communities you are making possible.
  18. The Deputy Prime Minister today also announced that the federal government is providing $16 million through the Affordable Housing Fund to build 214 new rental homes at 308 Colony Street—the latest new project in downtown Winnipeg. This near net-zero greenhouse gas emissions project includes 86 affordable homes for low-income and vulnerable Canadians and over 20 per cent of all homes are barrier-free or barrier-adaptable for persons with disabilities.
  19. I would like to begin by acknowledging that we are gathered on the traditional territories of several First Nations, including the Huron-Wendat Nation.
  20. In addition to the base Canada Carbon Rebate amounts, starting this year, the federal government is proposing, through legislative amendments in Bill C-59, to double the rural top-up to 20 per cent, in recognition of rural Canadians’ higher energy needs and more limited access to cleaner transportation options.
  21. In provinces that request it or do not have their own carbon pricing system that meets the federal benchmark, a federal fuel charge is put in place. Currently, the fuel charge applies in the provinces of Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. All direct proceeds are returned within the province where they were collected, primarily through the quarterly Canada Carbon Rebate, directly to Canadians.
  22. Our government is working every day to deliver for Canadians across the country—from our big cities to our smallest towns. And the actions we’re announcing today will help to ensure that Canada’s small towns remain a great place to call home—today and for years to come.
  23. Remarks by the Commissioner of the Financial Consumer Agency of Canada at the Standing Committee on Finance regarding the Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances
  24. Today’s action will help rural Canadians find the homes they need at prices they can afford and access the high-quality, universal public health care they deserve close to home. By working with provinces and territories and municipalities to build more homes and strengthen public health care, the federal government is using all available tools to deliver for Canadians.
  25. The Deputy Prime Minister will provide an update on the government’s economic plan.
  26. Remarks by the Deputy Prime Minister on new support for asylum claimants in Toronto
  27. Remarks by the Deputy Prime Minister announcing new action to make rent more affordable
  28. Today, as part of Canada's economic plan, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government is taking new action to deliver rent support to low-income renters, open more emergency shelter spaces in cities across the country, and crack down on corporate greed to make groceries more affordable.
  29. The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Innovation, Science and Industry, François-Philippe Champagne, and the President of the Treasury Board, Anita Anand.
  30. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the federal government’s intent to extend by an additional two years the existing ban on foreign ownership of Canadian housing.
  31. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the reappointment of Marie Lemay as the President and CEO of the Royal Canadian Mint for a five-year term. Ms. Lemay was first appointed to this role in January 2019.
  32. Ms. Marie Lemay was first appointed as the President and CEO of the Royal Canadian Mint in January 2019. With 20 years of service in senior government positions, she has an extensive background in public administration. Prior to her appointment, Ms. Lemay served as Deputy Minister and Deputy Receiver General for Canada at Public Services and Procurement Canada, from 2016 to 2019.
  33. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Ahmed Hussen, Minister of International Development, announced that the federal government will provide over $162 million in additional support to the City of Toronto.
  34. The Government of Canada is continuing to deliver on its economic plan by today launching consultations on improving support for research and development and on creating and retaining intellectual property in Canada.
  35. Remarks by the Deputy Prime Minister on taking further action to build more homes, faster
  36. Today, as part of Canada's economic plan, the government announced further action to build more homes, faster, by supporting the construction of student housing.
  37. Ottawa, Ontario – The Deputy Prime Minister will provide an update on the government’s economic plan. She will be joined by the Minister of Housing, Infrastructure and Communities, Sean Fraser, the Minister of Innovation, Science and Industry, François-Philippe Champagne, the President of the Treasury Board, Anita Anand, and the Minister of Immigration, Refugees and Citizenship, Marc Miller.
  38. Whether it’s helping Canadians to save for their first home, like those half a million Canadians who’ve now opened a First Home Savings Account, or getting more homes built faster, our government is going to continue working every single day to deliver for Canadians and to make housing more affordable for people from coast to coast to coast.
  39. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, visited Canary Landing in Toronto to highlight how Canada’s economic plan is putting homeownership back within reach and building more homes, faster.
  40. Today’s announcement alone will fast-track nearly 12,000 new homes in Toronto over the next three years, and more than 53,000 homes over the next decade.
  41. Remarks by the Deputy Prime Minister welcoming the Canada Growth Fund’s first carbon contract for difference
  42. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, pursuant to her authorities under the Bank Act, approved the sale of HSBC Bank Canada (HSBC) to Royal Bank of Canada (RBC), subject to strict terms and conditions imposed on RBC.
  43. On December 21, 2023, the federal government granted the regulatory approval to allow the sale of HSBC Bank Canada (HSBC) to the Royal Bank of Canada (RBC).
  44. The representatives of the Group of Creditors of Ukraine (GCU) and the Government of Ukraine signed on December 21, 2023 an Amendment to the Memorandum of Understanding (MoU) on Debt Service Suspension of Ukraine concluded on September 14, 2022. This Amendment extends the Debt Service Suspension until the end of March 2027, corresponding to the end of the current IMF program. It aims at implementing the first phase of the financing assurances provided by the GCU on March 24, 2023 to support the approval of the program by the IMF Executive Board of Directors.
  45. The Government of Canada is continuing to deliver its economic plan by today launching consultations to advance major economic investment tax credits and create good jobs, crack down on short term rentals and make housing more affordable, and ensure the fairness of Canada’s tax system.
  46. Statement of the G7 and Australia on Price Cap Rule Updates for Seaborne Russian-Origin Oil and Petroleum Products
  47. Today in Calgary, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, welcomed the announcement of the second investment by the Canada Growth Fund—and the world’s first carbon credit offtake agreement of its kind.
  48. Today, the Government of Canada is providing an update on federal support for Canada’s innovation ecosystem, with a focus on improving existing programs that support Canadian businesses.
  49. Today, the Department of Finance Canada announced the automobile income tax deduction limits and expense benefit rates for 2024.
  50. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced the appointment of Susana Lee as a member of the Canadian International Trade Tribunal (CITT), as well as the reappointment of Cheryl Beckett and Georges Bujold. All three appointments are for five-year terms.