Yesterday, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, met virtually with provincial and territorial Finance Ministers to discuss shared priorities, including health care funding, Canada's response to ongoing U.S. trade measures, accelerated action on internal trade barriers, and opportunities to strengthen Canada's growth and innovation agenda.
The meeting began with a discussion on the longer-term challenges facing Canadian health systems. Ministers reaffirmed the importance of continued federal, provincial and territorial collaboration to support a strong and sustainable public health care system. Minister Champagne acknowledged the concerns raised by provinces and territories and committed to continuing discussions on both immediate funding pressures and the long-term sustainability, efficiency and modernization of health care systems across Canada.
Ministers then discussed Canada's response to ongoing U.S. trade measures, including Canadian counter-tariffs to protect market share for Canadian producers, the implementation of the remission framework, and supports for affected workers and businesses. Minister Champagne highlighted the recently announced $7.5 billion package of new and enhanced measures to protect workers and businesses facing trade-related pressures and emphasized the importance of limiting unintended impacts on Canadian firms and supply chains while maintaining a strong and coordinated response to U.S. actions. Ministers also discussed opportunities to strengthen domestic supply chains, including increasing the use of Canadian steel in major projects.
Ministers exchanged views on opportunities to strengthen Canada's long-term economic performance through increased investment, higher productivity and enhanced competitiveness. Minister Champagne highlighted recent federal measures, including the Productivity Mega Deduction and the significant commitments secured through the Canada Investment Summit, which are helping to create the conditions for an investment supercycle in Canada. Ministers discussed opportunities to translate these commitments into major projects, stronger capital markets, enhanced competitiveness, and sustained economic growth. They reaffirmed the value of continued collaboration to support economic growth and position Canada for long-term prosperity.
Ministers also reviewed progress on reducing internal trade barriers and improving labour mobility across Canada. Minister Champagne emphasized the need to maintain momentum and advance key initiatives, including mutual recognition, regulatory cooperation, and reforms in the financial services sector.
Ministers concluded the meeting by reaffirming their commitment to advancing shared priorities and working together to build a stronger, more competitive, and more resilient Canadian economy.
