Fighting the COVID-19 pandemic is a Team Canada effort.
Tomorrow, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, joined by the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, will virtually convene the semi-annual Finance Ministers’ meeting with provincial and territorial colleagues. The Deputy Prime Minister and Finance Ministers will be joined by the Governor of the Bank of Canada, Tiff Macklem, for a portion of the day, where he will offer the Bank’s perspective on the current state of the economy in Canada and internationally.
Building on the Finance Ministers’ biweekly discussions over the past several months, this meeting is an opportunity for Canada’s federal, provincial, and territorial governments to further their collaboration in support of Canadians and Canadian businesses. They will consider ongoing efforts by all orders of government to fight the pandemic. Finance Ministers will also discuss the plan for recovery, long-term growth, and building back a stronger, healthier, and more inclusive country for all Canadians.
“The battle against COVID-19 has proceeded on many fronts. We have invested in health care, the most diverse and extensive vaccine portfolio of any country, increased testing and tracing, and directly supported the provinces and territories as they fight the virus. This has been a Team Canada effort. It’s more important than ever that we continue to work together and support Canadians. Tomorrow’s conversations are an important opportunity to continue that cooperation.”
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“As Canadians, we know that there is nothing that we can’t achieve when we work together. Throughout the pandemic we have worked closely with the provinces and territories to provide essential support to Canadians and businesses. I look forward to meeting with our counterparts tomorrow, as we face this extraordinary challenge together.”
The Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance
To date, the federal government has invested over $322 billion to support Canadians and fight COVID-19, including over $24 billion to support the provinces and territories.
Major transfers to the provinces and territories in 2021-2022 will total a record $83.9 billion, an increase of over $2.2 billion from 2020-21. This includes Canada Health Transfer, Canada Social Transfer, Equalization payments, and Territorial Formula Financing.
To support the health care systems in the provinces and territories, the federal government is covering 100 per cent of the cost of procuring vaccines for all Canadians and the supplies needed to administer them.