“Foreign investors put $97 billion into Canada in 2025. People want to invest here because we have skilled workers, strong industries, natural resources, and free trade deals with other major economies.”

“Mr. Chair, I am happy to say that the foreign direct investment inflow in Canada in 2025 was $97 billion. Investors around the world see what Canada has to offer. We have one of the most educated workforces. We have very strong industry. We have critical minerals. We have energy, and we are the only country in the G7 with free trade with all other G7 nations. We have what we need to succeed.”

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“I want the member to vote for our bill because it helps build more infrastructure. We all want more investment in Canada. Foreign investment reached a record 97 billion dollars in 2025.”

“Mr. Chair, my colleague will have the opportunity to vote on legislation that would certainly help to build more in this country, and I think that is what we want to see. We are united in wanting to see more infrastructure and more investment in this country, and it is a great thing for international investors. Like I said, in 2025, FDI inflow was $97 billion. That is a record.”

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“Global business leaders want to invest in Canada. Big companies like Shell are already spending large amounts of money here.”

“Mr. Chair, I would invite my colleague to speak to global CEOs. He would be pleased to hear that they very much value investments in Canada. When I travel and speak to global CEOs, they see why Canada is the place to invest in. We just have to follow the dollars, and we are seeing large investments, like the one Shell made recently. They speak with their dollars.”

“Business leaders around the world want to invest in Canada because our country is stable and predictable. Companies like Shell see Canada as a major energy power.”

“Mr. Chair, the global CEOs I talk to around the world, and there are many, value investments in Canada. They value predictability, stability and the rule of law. I just have to look at the recent investment of Shell as an example. It sees Canada as playing a big role as an energy superpower.”

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“Canada brings in more foreign business investment per person than any other G7 country, including the United States. Our investments will bring in even more money.”

“Mr. Chair, I would be pleased to quote something that I know my colleague would like: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. We are way ahead of the United States, and the investments we are making are going to attract even more investment.”

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“Canada gets more foreign investment per person than any other G7 country, almost twice as much as the United States. We had record investment in 2025. We are holding a meeting in September to bring in even more money.”

“Mr. Chair, I would be happy to quote this again: “Canada Leads the G7 in Direct Investment Inflows Per Capita”. In fact, it is nearly double that of the United States on a per capita basis. Investors, like my colleague, understand that Canada is the place to invest. That is why we have seen record investment in 2025, and that is why we are seeing more and more firms looking to invest in Canada. That is why we are going to have an investment summit in September, to attract capital to our country.”

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“Canada brought in record foreign investment in 2025, leading the G7 per person. The member should celebrate this good news. We will keep working to bring more investment here.”

“Mr. Chair, I am trying to understand the line of questioning of my colleague. I think she should be celebrating the fact that Canada received record levels of foreign direct investment in 2025 and that we are leading the G7 on per capita FDI. It is good news, and we are going to continue to work with colleagues to attract investment in this country.”

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“We welcome foreign investment in Canada. Companies like Volkswagen, Shell, and LNG Canada are coming here to build projects, create jobs, and grow our economy.”

“Mr. Chair, a good Conservative, which I know my colleague is, would celebrate an open economy. Canada has an open economy where we welcome investment in our country. We have seen these investments that have grown the GDP in this country. They have created jobs. Let us think about Volkswagen if they want to talk about the auto sector. It is the largest gigafactory outside of Europe. European manufacturers are choosing to come to Canada, just like a number of investors, such as Shell and LNG Canada, and they are creating opportunities, jobs, growth and wealth in this country.”

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“Canada's economy is growing faster than almost every other G7 country. We should celebrate our workers and businesses for this success.”

“Mr. Chair, I know that my colleague will be happy to learn that Canada has the second-fastest growth in the G7. We are growing twice as fast as countries such as Germany and the United Kingdom, and even three times faster than Italy. We are growing twice as fast as Japan. Tonight, we should celebrate the workers, the industry and the small and medium-sized businesses. These numbers speak for themselves.”

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“Do not listen to the opposition. The International Monetary Fund predicts that Canada's economy will grow by 1.5% in 2026, which is faster than any other G7 country.”

“Mr. Chair, Canadians have a choice to listen to the opposition or to the International Monetary Fund, which does not need a clip or to grandstand. The IMF forecast for 2026 real GDP growth in the G7 is as follows: Italy, 0.5%; Japan, 0.7%; Germany, 0.8%; United Kingdom, 0.8%; France, 0.9%; and Canada, 1.5%. These numbers speak for themselves.”

“Our economic plan is working. We are cutting government waste while investing in affordable housing, major infrastructure, job training, and national defence. I want the Minister of Finance to explain how the new sovereign wealth fund will help Canadians.”

“Mr. Chair, I want to thank my colleague, the Minister of Finance, for his hard work and for the economic update he provided in the spring. I also want to thank him for his recent visit to Moncton. I was very pleased to be able to welcome him. He gave my community a very good briefing with some highlights from the spring economic update. I thank him. We all know that the world is changing. With the new geopolitical dynamics, the supply chain disruptions and the rapid technological breakthroughs, including in artificial intelligence, the world is changing quickly, and Canada must adapt to thrive. In budget 2025, our government seized this once-in-a-lifetime opportunity, making generational investments to foster vibrant communities, empower Canadians, protect our country and build the strongest economy within the G7. Many of these initiatives were reflected in the main estimates tabled earlier this year, one of the reasons we switched to the fall budget cycle. Now, though, with the spring economic update 2026, we are staying the course with further measures to build a stronger, more independent and more resilient Canada, to advance our progress of building more affordable homes and major infrastructure, and to bring down the costs to help all Canadians get ahead. I look forward to speaking today to some of these key investments with both publications that we have made. When the Minister of Finance tabled the budget in 2025, he presented Canadians with a plan to build a single Canadian economy powered by major projects of national interest that will connect our regions, diversify our markets and create hundreds of thousands of well-paying jobs. This plan includes a $115‑billion investment in infrastructure to strengthen public services, such as public transit and water systems, to build hospitals, to support indigenous communities, and to build trade and transportation infrastructure that will ensure that our goods and services move efficiently across the country and around the world. At the same time, we have invested $25 billion to build affordable housing at scale. Through initiatives such as Build Canada Homes, targeted tax measures and strategic incentives, these investments form the cornerstone of the most ambitious housing supply plan that Canada has seen in a generation. Budget 2025 also introduced a five-year, $110-billion framework to strengthen Canada’s productivity and global competitiveness. The productivity superdeduction is a central part of this framework. It is a set of accelerated tax deductions that allow businesses to immediately write off a larger share of the cost of any capital asset, including an immediate deduction of 100% for investments in manufacturing or processing machinery and equipment, digital infrastructure, scientific research equipment, and clean energy technologies. This is complemented by the enhancements to the scientific research and experimental development tax incentives, increasing the maximum amount of expenses eligible for the refundable tax credit to $6 million, simplifying eligibility criteria and reintroducing capital expenditures as eligible costs. Taken together, these measures support both innovation and capital investment and are a coordinated strategy to drive long-term economic growth and competitiveness. We know we cannot build Canada strong without protecting our people and also protecting our values. This is why budget 2025 also included generational investments to secure our sovereignty, including meeting NATO’s 2% of GDP core defence spending target this year, five years ahead of schedule, and putting Canada on a path to meeting NATO’s 5% defence investment pledge by 2035. To keep Canadians safe at home, we are strengthening border security, taking action against organized crime and illegal trafficking, and upholding the rule of law in every region. We are doing so by implementing Canada’s border plan and delivering key investments in budget 2025, such as hiring 1,000 additional Canada Border Services Agency officers, upgrading border technology and enhancing intelligence sharing to combat the smuggling of illegal firearms, drugs and people. Canada’s government is making all of these investments possible by changing how government works. We have cut back on operational expenses, including by rightsizing the public service, cutting red tape and eliminating wasteful spending to prioritize long-term investments and to deliver better services to all Canadians. In fact, we are slowing the average growth in direct program expenses from 8% over the last decade to 2.2% from 2025-26 to 2030-31. These efforts are reinforced by the government’s comprehensive expenditure review, which is systematically reducing inefficiencies and refocusing spending on core priorities, contributing, along with other measures, to a total of $60 billion in savings and revenues over the next five years. At the same time, we introduced a new capital budgeting framework, detailed in budget 2025, that distinguishes day-to-day operational spending from capital investment, helping guide decisions and investments that generate long-term benefits for Canadians. This new approach will enhance, not replace, existing financial reporting while providing a clearer picture of the investments that will strengthen Canada’s economy in the years ahead. Rightsizing government through the discipline brought by the comprehensive expenditure review is critical in realigning resources for generational investments that build more and deliver results, because that is how we invest in Canada’s future. This brings me to the spring economic update, which maintains this fiscal discipline while investing in Canadians. I want to highlight one of the main measures, namely the Canada Strong fund, a sovereign wealth fund designed to deliver infrastructure projects and historic projects of national interest and to grow wealth for future generations. This new fund will invest in key strategic Canadian projects and companies alongside the private sector, creating jobs, supporting innovation and making Canada more competitive. What is more, Canadians themselves will have the opportunity to invest in the fund, sharing in its success. We are also launching team Canada strong, a nationwide effort to recruit, train and hire 80,000 to 100,000 new Red Seal skilled trade workers. This innovative program will be especially useful for Canadians pursuing apprenticeships, because it offers up to $16,000 in weekly income top-ups during their training and a $5,000 completion bonus. It should also interest employers, because they are eligible for direct incentives of up to $10,000 in wage subsidies per apprentice. To provide greater support for young people, our government is making education more affordable by extending the increases to Canada student grants and interest-free Canada student loans for another year, which will benefit thousands of students across the country. The economic update also continues the work of Build Canada Homes with a plan to increase supply, lower costs and help more Canadians find a safe, affordable home. The plan also involves cutting red tape to build homes faster, supporting innovation in construction, quickly unlocking over $7 billion in low-cost financing, boosting the housing supply and protecting construction jobs across Canada. It will help those most in need by extending support for people experiencing homelessness and ensuring that survivors of gender-based violence have access to safe housing. That is not all, but since my time is almost up, I want to take a few minutes to ask some questions to my dear friend and colleague, the minister. Can the finance minister tell us more about the sovereign wealth fund? More specifically, can he explain how it will support government investments and help Canadians?”

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“I am praising the member for Moncton—Dieppe for her work on our economic plan. Our plan includes a national investment fund that helps build collective wealth. It will also allow regular Canadians to invest their savings in the country.”

“Mr. Chair, I would like to take a moment to thank my colleague because I know how proud the young people of Moncton—Dieppe are tonight to have a strong voice in Ottawa. She is a colleague I can applaud. She is a strong voice for the region and for New Brunswick. When my colleague speaks, Ottawa listens. The proof is that my colleague was one of the architects of many of the measures found in the budget and the economic statement. I really want to tell the people of Moncton—Dieppe that they made an excellent choice, because my colleague has been doing an extraordinary job for many years. It has been a privilege to serve alongside her. She is right. In our economic statement, we said we need to build Canada strong for all, by putting structural measures in place. One of the key measures is the Canada Strong fund, our first national sovereign wealth fund. Together with the Prime Minister, we decided that we wanted to create a vehicle for collective wealth. We have seen how the sovereign wealth funds set up in Nordic countries, for example, have benefited communities, workers and families. In a very Canadian way, we are allowing individuals to invest. Ordinary folks will also be able to invest in this major fund, if they are interested and have a bit of savings. They will see their investment grow over the years, and they will be able to say that they helped build this great country. We talk about a strong Canada for all, and there is something very Canadian about telling people that they can contribute if they want to. I want to once again thank my colleague for her outstanding leadership, because she has always been there to remind us of how we can build communities. I know that she comes from a part of the country that is a lot like mine. We often talk about rural areas and the regions. My colleagues also understand the importance of the regions. I have to say that she is an outstanding colleague who has done important work, and many of her ideas found their way into the 2025 budget and the economic statement. This evening, I would like to thank her for her work on behalf of the people of Moncton—Dieppe.”

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“Foreign investment in Canada is at a record high. I want the member to explain what caused this and how it helps Canada.”

“Mr. Chair, we heard a bit earlier about the issue of direct foreign investments and how Canada is at a record high at this point in time. I am wondering if my hon. colleague could elaborate on what the conditions were that really created this environment and perhaps elaborate on the benefits to Canada.”

“Canada attracts investment because we are stable, predictable, and follow the law. Our economy is growing faster than most other wealthy countries because we invest in housing, trade, and building things.”

“Mr. Chair, it is good to have amazing colleagues like the minister who come and have very pointed questions. In fact, I know my Conservative colleagues understand as well that Canada offers unparalleled stability, predictability and the rule of law. Like many of my colleagues, I studied law. I remember that I had this professor who said, “Find me a place in the world that does not have the pillar of investment. We saw that when we do not have that, we do not get investment.” The pillar of investment is stability, predictability and the rule of law. In a very divided world, in a world where we see the uncertainty index at its peak, almost since 1945, we can see why Canada stands out in the world. In the fog of uncertainty, we are the lighthouse. That is what I said at the IMF meeting at the G7. Canada is a lighthouse in the fog of uncertainty. Those were the words of the executive director of the International Monetary Fund. She said the world is wrapped in this fog of uncertainty, and our mission in a world that is more complex and volatile is to provide that kind of certainty. What is certainty today? Certainty today has to do with what we can control. As our Prime Minister has said, we will focus on what we can control: remove interprovincial trade barriers, open our markets abroad, export to new markets, build the infrastructure, build the housing, be more competitive, invest in innovation and build a country strong. That is exactly what we are doing. We are building Canada strong with investment. I would say confident countries invest in themselves. Canada has been singled out again. My colleagues in this House will understand that. There are only two countries that the IMF said are standing out, Germany and Canada, two countries with AAA credit rating that have the fiscal capacity to invest. It said that if those countries invest in housing, infrastructure, competitiveness and innovation, they will succeed. That is why we see that Canada has the second-fastest growth in the G7, growing twice as much as our colleagues in Europe, twice as much as Germany, twice as much as Japan and three times more than Italy. Growth happens because of our policies. Growth happens because we have the best workers. Growth happens because we have strong industry. Growth happens—”

“Canada needs an investment fund like this. Other countries already have them.”

“Mr. Chair, I am happy to see that my colleague is talking about the Canada Strong fund. As she mentioned, Nordic countries have already created, in their way, something quite similar. I think it was about time that Canada created one of these pillars of investments to be able to create—”

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“The details about where the money is coming from are on page 129 of the budget document.”

“Mr. Chair, my colleague was asking where she can find the details of where the funds are coming from. She will find that on page 129 in the English version of the budgetary balances. She will be able to find out exactly where the money is booked in the fiscal accounts of Canada.”

“This fund will make its own decisions without government interference. It will invest in Canadian companies and projects that help our country, which will help build wealth for Canadians.”

“Mr. Chair, my colleague is very knowledgeable, as she was in finance for most of her career before being in politics. We have been extremely clear about its governance, that it is going to be at arm’s length from the government and it will make its own independent decisions. What we have said is that the fund will invest in projects of national interest and also invest in Canadian companies. A mandate like that is very consistent with other funds around the world. I think she should see the benefit of creating collective wealth for Canadians.”

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“Our planned wealth fund will be independent from the government. It will have its own separate board. We looked at the best funds around the world to make sure we run it well.”

“Mr. Chair, my colleague is very learned in finance. There is a difference between the mandate, which we have said is very clear, and the governance, which we say is going to be independent. It will have its own separate board and will be independent from government. We know this is very important. When creating a sovereign wealth fund, governance is very important. The hon. member can be assured that we have consulted widely with funds around the world and we are integrating best practices because, again, we want to have a best-in-class fund that will serve the—”

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“The fund will be independent from the government and make its own investment decisions.”

“Mr. Chair, as I have said time and time again, and we have been very clear, the fund will be independent from the government. We know this is a very important feature of this fund. It is going to be at arm’s length from the government. It will make its investment decisions in accordance with the—”

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“The member is wrong to criticize our plan. We talked to experts around the world, and they agree this fund will help Canadians build wealth.”

“Mr. Chair, I have enormous respect for my colleague, but I think it is irresponsible of her to speak in these terms about something that will create wealth for Canadians. We have consulted widely with funds around the world about best practices, and her view is very much outside of what we have heard from all commentators internationally who speak about Canada creating its fund. They know this is something that is going to serve Canadians well.”

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