As the old multilateral order weakens and the world becomes more fragmented and uncertain, Canada's new government is focusing on what it can control: making targeted, high-impact investments in Canadians and the economy while maintaining fiscal sustainability.
Ryan Turnbull, Parliamentary Secretary to the Minister of Finance and National Revenue and to the Secretary of State (Canada Revenue Agency and Financial Institutions), will participate in the Organisation for Economic Co-operation and Development (OECD) international Forum on Restoring Public Finances on May 27 in Paris, France.
As public finances across many OECD countries are under pressure, increasing levels of debt, rising spending needs and higher borrowing costs are tightening fiscal space. This forum will provide an opportunity for Canada to discuss how countries can place public finances on a more sustainable path and build public support for the reforms needed.
Discussions will focus on actions already underway, additional measures that may be required, and how clearer communication of data, trade‑offs and the costs of inaction can help build public support.
Parliamentary Secretary Turnbull will highlight the Government of Canada's plan to spend less to invest more, and its fiscal anchors which include balancing the government's day-to-day operating spending with revenues by 2028-29. By ensuring that public dollars support high-impact actions with lasting economic returns, while spending less on government operations, Canada is strengthening its economic and fiscal capacity well into the future.
