Yesterday, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, hosted a virtual meeting of provincial and territorial Finance Ministers.
Discussions touched on the ongoing conflict in the Middle East and shared concerns about its potential implications for energy markets, supply chains, and Canada's economy. Minister Champagne highlighted Canada as a reliable and stable energy supplier in the face of ongoing global supply challenges and reiterated that the government is closely monitoring price changes at the pump.
Minister Champagne emphasized the government's work to build a stronger, united Canadian economy by building major infrastructure, including through the new Major Projects Office, and diversifying trade with global partners.
Another central topic of the meeting was housing and the recent introduction of Bill C-26, which would authorize $1.7 billion in federal transfers to be distributed among all provinces and territories to support housing supply. The ministers discussed the delivery of this funding and how it will be used to spur new housing developments across the country. The ministers also discussed the rollout of the provincial and territorial stream of the recently launched Build Communities Strong Fund to support projects relating to housing, post-secondary education, and health care in their jurisdictions.
Additionally, Minister Champagne highlighted the growing risks posed by money laundering in Canada, especially in major urban centres, and underscored the importance of continued collaboration across governments to protect communities. He pointed to the creation of the new Financial Crimes Agency as an important federal measure to strengthen asset recovery, combat illicit financing activity, and help recover illicit proceeds, and restated the federal government's commitment to continue doing whatever it takes to get to the bottom of this issue.
The ministers, joined by President of Shared Services Canada, Scott Jones, also discussed significant progress on joint procurement efforts and opportunities to strengthen collaboration across governments, including in the area of technology. Participants underscored the value of continued coordination to achieve efficiencies and deliver better outcomes for Canadians.
As part of the 2025-2027 Triennial Review of the Canada Pension Plan (CPP), the Finance Ministers discussed the importance of the CPP to providing financial security and peace of mind to millions of Canadians and their families.
Minister Champagne and his counterparts agreed to continue to work together on areas they can control during a time of great uncertainty: building a stronger economy, creating good job opportunities, and building capacity across Canada's key sectors, including by bolstering trade within Canada.
