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06-18 Spring Economic Update 2026 Implementation Act 57 statements 06-18 Spring Economic Update 2026 Implementation Act 19 statements 06-18 Arab Heritage Month Act 5 statements 06-18 The Economy 15 statements 06-18 Government Priorities 2 statements 06-18 Government Priorities 2 statements 06-18 Housing 12 statements 06-18 The Environment 2 statements

Government Orders

Business of Supply

2026-05-26 Sitting 122 Showing 101–120 of 201

A wide-ranging bill to implement the Spring 2026 Economic Update, touching on everything from tax deductions for tradespeople to aviation fuel taxes to beer excise duty rates. In 5 hours of debate, MPs mostly grilled the Finance Minister on unrelated topics like ride-sharing regulation, StatsCan data collection, and election promises from 2015. Some substantive questions were asked about domestic investment levels and the bill's housing provisions, but mostly talk went in circles without many direct answers.

Official Hansard ↗

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“I'm changing the subject to talk about Canada's good points instead of answering the question.”

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“You're praising Canada's investment but I want to change the subject to approval delays. I think the government is doing a great job. We just need to give them more power and more taxpayer money. Anyone who disagrees must hate investment.”

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“Look, people with money are giving it to us. That means we're doing good.”

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“I'm saying the CEOs I talk to like Canada. I think they like how predictable and stable we are. Look, Shell invested a lot here. That means we're an energy superpower.”

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“I want to say something my colleague will like. 'Canada Leads the G7 in Direct Investment Inflows Per Capita'. We're way ahead of the United States. The investments we're making will attract even more investment.”

Hon. François-Philippe Champagne

Liberal 9:00 p.m.

“I don't want to answer your question. Instead I will repeat talking points about how Canada leads in investment. We will have a summit to attract more investment.”

Hon. François-Philippe Champagne

Liberal 9:05 p.m.

“I don't want to answer a hard question about what 'investment' means. Ignore the bad parts and cheer for Canada leading in putting money into mergers and acquisitions.”

Hon. François-Philippe Champagne

Liberal 9:05 p.m.

“You call yourself a Conservative? A real conservative would cheer for an open economy. Investment from companies like Volkswagen and Shell grows our GDP and creates jobs, so you should be celebrating that they want to come here.”

Hon. François-Philippe Champagne

Liberal 9:05 p.m.

“I'm ignoring your question about domestic investment and changing the subject to celebrate GDP growth instead.”

Hon. François-Philippe Champagne

Liberal 9:05 p.m.

“I want Canadians to ignore criticism and trust the IMF's growth predictions instead. I think our economy will grow faster than other countries by 2026. I won't say how we'll make that happen.”

Hon. Ginette Petitpas Taylor

Liberal 9:05 p.m.

“I want Canadians to trust our government's economic plan. We are spending a lot of money on many things. We will build affordable housing and infrastructure. We will protect Canadians and secure our sovereignty. We will cut some costs and find savings to pay for it all. Our new Canada Strong fund will invest in strategic projects. We will train many new skilled trade workers. We will help students with more grants and loans. I want you to believe our spending is creating jobs and making Canada more competitive.”

Official Hansard

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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Hon. François-Philippe Champagne

Liberal 9:05 p.m.

“I want to thank my colleague. She is an important voice for our region. She has helped shape our budget and economic plan. The Canada Strong fund is a key part of that plan. It is a national sovereign wealth fund. Canadians can invest in it if they want to help build a strong Canada.”

Official Hansard

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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Hon. Ginette Petitpas Taylor

Liberal 9:20 p.m.

“I want the member to repeat good news about investment. I want him to say our government created the right conditions and that it's good for Canada.”

Hon. François-Philippe Champagne

Liberal 9:20 p.m.

“I'm trying to look smart in front of the International Monetary Fund. I'm filling time with kind words and saying nothing anyone could pin down later.”

Official Hansard

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—

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Hon. François-Philippe Champagne

Liberal 9:20 p.m.

“I'm filling time with kind words and saying nothing anyone could pin down later.”

Hon. François-Philippe Champagne

Liberal 9:25 p.m.

“I'm going to ignore your real point and just tell you what page the budget is on. Look at page 129. It's in the budget. I found it for you.”

Hon. François-Philippe Champagne

Liberal 9:25 p.m.

“You know a lot about finance. So trust me, this fund is independent. It definitely won't be controlled by the government. We're only telling it what its overall goals are. And those goals are totally normal for a national fund like this. You should be happy we're making everyone wealthier together.”

Hon. François-Philippe Champagne

Liberal 9:25 p.m.

“I want you to think I'm smart. But I'm just saying 'independent' and 'best practices' a lot. I hope you won't notice I didn't answer the question.”

Hon. François-Philippe Champagne

Liberal 9:25 p.m.

“I'm going to keep insisting this fund will be independent. I'll just repeat myself and hope that reassures you.”

Hon. François-Philippe Champagne

Liberal 9:25 p.m.

“I have enormous respect for you, but you're wrong. It's irresponsible to call this a slush fund. We have consulted widely with funds around the world about best practices. Canada is creating a fund that is going to serve Canadians well.”