The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, hosted a virtual meeting with his provincial and territorial counterparts yesterday to coordinate on key economic priorities ahead of Budget 2025. Discussion focused on supporting growth, competitiveness, and building a more resilient Canadian economy.
Minister Champagne provided an update on the trade negotiations with the United States, underlining that Canada continues to have the best deal of any U.S. trading partner, with over 85 per cent of Canada-U.S. trade tariff-free. He also discussed Canada's response to U.S. trade measures and the ongoing review of the current surtaxes on imports from China.
The Minister highlighted the recently launched Major Projects Office that will fast-track nation-building projects-five of which are already under review. He emphasized the importance of working closely with provinces and territories to fulfill this mandate. Ministers also discussed the idea of joint procurement to achieve better pricing and terms for governments.
Minister Champagne also noted that Budget 2025 will be tabled on November 4. The Budget will deliver a clear plan to build the strongest economy in the G7. This plan will be grounded in generational investments in housing and infrastructure while bringing down costs for Canadians. It will catalyze private investment and strengthen our relationships with reliable trading partners and allies-shifting our economy from reliance to resilience.
The meeting also included remarks from the Bank of Canada Governor, Tiff Macklem, and Senior Deputy Governor, Carolyn Rogers on the economic outlook.
