The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, convened a virtual meeting with provincial and territorial Finance Ministers to advance shared priorities and strengthen Canada's economic resilience.
The Minister opened the discussion with an update on Canada-U.S. relations, emphasizing the federal government's determination to remove unjustified U.S. tariffs still in force on many Canadian products. He reaffirmed Canada's commitment to establishing a renewed economic and security relationship with the United States while strengthening collaboration with reliable trading partners from around the world.
Minister Champagne highlighted Canada's leadership on the international stage, notably through its chairing of the recent meeting of G7 Finance Ministers and Central Bank Governors, which laid the groundwork for next week's Leaders' Summit in Kananaskis, Alberta. G7 discussions focused on tackling global economic uncertainty, combatting financial crimes, harnessing the potential of digital transformation, and promoting growth and productivity.
In line with the federal government's nation-building agenda, the Minister welcomed the growing momentum among provinces and territories to reduce internal trade barriers and unlock the full potential of the Canadian economy. He reiterated the government's commitment, reflected in Bill C-5, the One Canadian Economy Act, aimed at eliminating federal barriers to trade and labour mobility and accelerating transformative projects of national interest.
The Minister also provided updates on key legislative initiatives that will deliver real results for Canadians. This includes Bill C-4, which proposes a middle class tax cut for nearly 22 million Canadians and removes the Goods and Services Tax for first-time buyers purchasing new homes up to $1 million, and Bill C-2, which strengthens border security to keep communities safe.
Canada's Finance Ministers also agreed to remain in close contact in the weeks ahead and keep driving momentum to build the strongest economy of the G7.
