“Global investors disagree with the member. The world news is praising Canada for building our own investment fund that lets regular people take part.”

“Mr. Chair, the voice of my colleague is very different from the voices we hear from international investors. If she reads the international press, she will see that Canada has been heralded as creating its own national sovereign wealth fund in a very Canadian way, allowing individual investors to be able to share—”

“The opposition has a right to ask questions, but they should not criticize a plan that will make Canadians wealthier. We should all work together to help Canadians create wealth.”

“Mr. Chair, there is something to question. Everyone in the House has a role. I understand the role of the opposition is to ask questions, but I do not understand why talking down an instrument that is going to create collective wealth for Canadians is the right thing to do. In this House, we should all work together to create structure, to create more wealth for Canadians and—”

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“We talked to wealth funds around the world to set up our fund properly. This fund will let everyday investors share in Canada's economic growth.”

“Mr. Chair, in fact, we have consulted with sovereign wealth funds around the world. We even said we would be consulting. We have already established the parameters of the fund. We are going to make sure that we have best practices, but at the same time, we in this House should be happy to see that individual investors will be able to share the growth that we are going to be creating in this country.”

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“The member cannot decide if a national investment fund is good or bad. Other countries show these funds help people. That is why we are creating one for Canada.”

“Mr. Chair, it is difficult to follow the member tonight in her line of questioning. On the one hand, she said sovereign wealth funds are a good thing, and now she wants to criticize us for creating one. It is very difficult to follow. I would ask her, is it a good thing or a bad thing? We have seen examples in Nordic countries and abroad that show creating a sovereign wealth fund is a good thing for people. That is why we are going to do our own sovereign wealth fund here in Canada using best practices.”

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“The information the member is asking for is in the economic report.”

“Mr. Chair, I refer the member to table A1.9 on page 125 of the spring economic statement in English. She will find the information. It is all there.”

“The numbers the member is asking for are in the document, on page 125 in table A1.9.”

“Again, Mr. Chair, I know the member would want to refer to the document. It is all there on page 125. It is in table A1.9. She will see the numbers.”

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“We are creating a national fund to build wealth for Canada. The numbers the member asked for are in the spring economic update.”

“Mr. Chair, like I said, this is an important structure we are going to be creating to create collective wealth in the country. With respect to the numbers that my colleague has been asking for, she will find them in the spring economic update. She will be able to find the numbers for herself. As she said, and as I think we should all celebrate, it is a good thing for Canada to have its own sovereign wealth fund.”

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“We will start the fund with federal government money. Other investments and assets will be added to it later.”

“Mr. Chair, as I said, we would have seed investments coming from the consolidated fund of Canada. Then, obviously, there will be other assets contributed and other investments made in the fund.”

“The government will provide the starting money for this fund. After that, the fund's own investments will make money that we can reinvest for Canadians.”

“Mr. Chair, it is pretty obvious when we say that it is going to come from the consolidated fund of Canada as seed money, but after that, obviously, the fund will have its own investment and will generate revenues that can be reinvested and create wealth for Canadians.”

“Canada should create a national wealth fund. Other countries have them, and it would build wealth for all Canadians.”

“Mr. Chair, I would like to see my colleague have a bit more ambition for this country. This is about creating an instrument to provide collective wealth for Canadians. If it is good for the Nordic countries, as my colleague said, why would it not be good for Canada? I am asking the question to my colleague. Why would it not be good for Canada to have its own sovereign wealth fund? I think it is a good thing, and it has been—”

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“Other countries have wealth funds that work well. This fund will create wealth for Canadians, and I do not understand why the member is against it.”

“Mr. Chair, I would invite my colleague to look at a number of sovereign funds. There are different models around the world. Like I said, this is going to be an instrument that is going to create wealth for Canadians. I do not understand why the member would talk down the fact that we are creating collective wealth for Canadians. I hope that my colleague—”

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“This fund will invest in major Canadian projects. We want to build up the country faster and bigger than we have in generations. Other countries use similar funds successfully.”

“Mr. Chair, it is a great thing that the fund would be investing in Canadian projects of national interest. We want to build this country. We want to build at a speed and scale that we have not seen in generations. This is our own Canadian model, and I would say it is very consistent with what we see in other sovereign wealth funds around the world.”

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“I disagree with the question. We are creating a new way to build wealth so Canadians can invest and share in it. I want the Conservatives to support this.”

“Mr. Chair, I reject the premise of the question. I would say to Canadians who are watching at home that I hope they see what is being talked about here. Canada is creating an instrument to create collective wealth and for Canadians to be able to invest and be part of that creation. I just hope that our Conservative colleagues would show more—”

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“The new sovereign wealth fund will be run independently from the government.”

“Mr. Chair, we understand very well that governance is essential when it comes to the sovereign wealth fund. We have been saying very clearly, very specifically, that it is going to be at arm’s length from the Government of Canada.”

“Experienced people will run this wealth fund. Good leadership is important, and Canada is known around the world for doing it well.”

“Mr. Chair, as I said, they will be very experienced people in governance. We know that governance is a key element when it comes to sovereign wealth funds. I would say the maple leaf is seen around the world as best in class. We know what matters. What matters is that the fund would—”

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“I will say this again. The new wealth fund will be run independently from the government. We will look at the best examples around the world to set it up.”

“Mr. Chair, I have been doing this for hours tonight. I will repeat what I have said. We understand very clearly that governance is key when setting up a sovereign wealth fund, and it is going to be at arm’s length from the Government of Canada. We said that very clearly from the get-go. We are going to be consulting to incorporate best practices that we see around the world.”

“Our economic update helps Canadians deal with high living costs. It cuts taxes, pauses fuel taxes, helps people buy homes, and trains new workers. I also want the finance minister to explain how we will support local kitchen cabinet makers facing tough global competition.”

“Mr. Chair, I am speaking today on the subject of the spring economic update. We are living through a period of major economic and geopolitical upheaval. The global context is becoming more challenging, supply chains are fragile, protectionism is on the rise and trade tensions are having a direct impact on our workers, our businesses and our regions. In this context, there are two ways to respond. There are those who downplay the transformation that is taking place, and there are those who choose to take action. Our government is choosing to take action. We have a clear responsibility to build a stronger, more self-reliant and more resilient economy while also protecting Canadians with concrete, immediate measures to help them cope with the rising cost of living today. This is exactly what is in the spring economic update. It is an update that helps families cope with the cost of living. It invests in workers, in the regions and in infrastructure. It does so without compromising responsible management of public finances. We just spent two weeks in our ridings. People there spoke to us about their reality and the problems they face in terms of the cost of housing, the price of groceries and the price of gas. We also heard a lot of talk in our regions about the labour shortage affecting businesses and slowing growth. This tells us we have political choices to make. Some people suggest reducing the role of the government at the very time that families are asking for help and need support. We are doing the opposite. We are listening to families and offering them tangible measures. We are going to help 22 million Canadians with a tax cut that will reach the entire middle class. We are also introducing a new Canada groceries and essentials benefit. This direct support to families will be sent out four times a year starting in early June. We are eliminating the GST on certain eligible new homes, which will save first-time homebuyers up to $50,000. We are also extending the grace period for paying back the home buyers’ plan, or HBP, from two years to five years to support homebuyers. Another step that we are taking to support families is to temporarily suspend the federal excise tax on gasoline and diesel in order to provide immediate relief during a time of soaring gas prices. The choice is clear: Either we support people, or we let them deal with the cost of living on their own. On this side of the House, we support our constituents. The spring economic update also invests in training the next generation of workers. Through a program known as team Canada strong, we will train 80,000 to 100,000 workers in skilled trades that are in real demand, and we will provide increased support for apprentices. This also includes the cadet program. Today, I am thinking of the young people in my region who are part of certain cadet corps, such as the 670 Haut-St-François cadet squadron, the 2449 Rock Forest-St-Élie-Deauville cadet corps, the 2852 Coaticook cadet corps and the Bishop’s College School No. 2 Cadet Corps, which is the oldest continually active cadet corps in Canada. These young people are the leaders of tomorrow. They are learning skills that will stand them in good stead all their lives, such as discipline, responsibility and teamwork. I should mention that I myself was a naval cadet in my teens, as a member of the 247 Les Timoniers De Valcourt and the 257 Le Montagnais de Chicoutimi. I know what a difference being part of this movement can make in a young person’s life. This is annual review season, so I want to highlight the accomplishments of these young cadets and thank all of their leaders. I hope those participating in the summer camps will have a memorable experience. These young people are our future workforce, and to be frank, if they do not get support, we cannot build a solid economic future. That is why we are also supporting young entrepreneurs and business succession, particularly the employee ownership trust model. If a group of employees wants to take over a business, we will offer capital gains exemptions to the sellers to incentivize a sale. We will also support worker co-ops. My region is teeming with aspiring young entrepreneurs. I want to highlight some of the local businesses that distinguished themselves this year at the OSEntreprendre Estrie challenge: O’Bois Équipement Inc., Éloi Saint-Arnaud Paysagiste and Solutions Nexolink, which are from the Coaticook RCM, and Cidrerie Pomme Sauvage, from the Haut-Saint-François RCM. I also want to mention the Bec-O Lanctôt farm in Compton, which also won an achievement award. This proves that it is possible to build, to evolve and, most importantly, to stand the test of time in our region. I want to salute the young people behind some outstanding school projects: “Recipes from our home to yours!” from Notre-Dame-du-Sacré-Cœur school in Weedon; “Little THANK YOUs” from Saint-Paul school in East Angus; and “Burn Bright!” from Louis-Saint-Laurent high school in East Angus, which won the regional co-op award. These young people are brimming with great ideas, and I wish them all the best should they decide to become entrepreneurs. The question is simple. Do we support this energy or do we hold them back? Our government’s choice is clear. We will support young people because they are at the heart of our communities. The strength of our economy is also being built in our downtown cores and on our main streets, with our local businesses. It is built with people who are risk-takers and who are creative. I want to highlight the work of Julie Favreau, the executive director of Rues principales Coaticook, who won the personality of the year award from the Rues principales network for her meaningful commitment to local economic vitality. At the same event, a team made up of Éric Gauthier, from Sherbrooke Innovante, and Sébastien Croteau, known by the stage name “L’Inconnu dans le noir”, from Cookshire-Eaton, won the people’s choice award for their project to illuminate the water reservoirs at Rock Forest, which makes Halloween and Christmas a bright time in my region. These are people walking the talk and bringing life to our communities. The economic update also highlights agricultural and agri-food processing, sectors that are particularly close to my heart. Our government also considers it very important to invest in agri-food processing. Recently, the restaurant Les Mal-Aimés in Cookshire-Eaton, run by Yannick Côté and Daniel Charbonneau, got a green star in the 2026 Quebec Michelin Guide for its commitment to sustainability and buying local. Indeed, 60% of the products served at this restaurant come from their own farm, and the rest come directly from Quebec. This is a concrete business model that supports local businesses. It is not the only local restaurant to have earned a spot in the Quebec Michelin Guide. I also want to highlight the achievements of Le Hatley restaurant at Manoir Hovey and the Tap Room, both of which have been recognized in the Michelin Guide. It is a source of pride to see local businesses making their mark in a publication that is distributed worldwide. The economic update acknowledges the realities of Quebec and its regions. It extends employment insurance measures for seasonal workers, facilitates labour mobility, accelerates housing construction and supports port infrastructure, at the request of my colleagues from Nova Scotia, who have been very vocal on this issue. I mention Nova Scotia, but I would say this applies to the entire Atlantic region and will also have an impact on ports in the Gaspé Peninsula. In all of this, there are two opposing views. One view treats the economy as a mere accounting exercise, while the other recognizes that the economy is made up of people, families and communities. Our government has chosen the latter. We are cutting red tape, modernizing the government and investing where it really makes a difference in the lives of Canadians. I think it is time to move on to questions and answers. I have a few questions for my colleague, the Minister of Finance and National Revenue. First and foremost, I would like to highlight how involved Alain Ouzilleau, the CEO of Cabico, has been in my region when it comes to the challenges facing the kitchen cabinet sector. This is a sector that is currently under pressure due to international problems. Mr. Ouzilleau has been a leader, as have the people at North American Cabinets in Cookshire-Eaton and at Cuisine Idéale. Can the Minister of Finance tell us how we will support these businesses so that they can get through the difficult situation they are currently facing?”

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“I want to praise the member for Compton—Stanstead for standing up for local furniture and cabinet makers. Because of her work, our government is supporting workers in that industry and asking the trade tribunal to protect them.”

“Mr. Chair, before I answer, I want to commend my colleague from Compton—Stanstead for her extraordinary work. The people of Compton—Stanstead are watching us tonight on television. The Habs are not playing this evening, so I am sure they are all watching what is happening in the House. I want to tell everyone in the region how my colleague has been a strong voice, not only as an MP but also as the chair of the rural caucus. She told me what SMEs in her part of the country are going through. They include SMEs in the furniture industry, and I had a chance to meet with them. I want to thank her because she played a key role in the measures that we are taking as a government. Following my meeting with manufacturers in the furniture and cabinetry sector, we referred their request to the Canadian International Trade Tribunal. We also considered safeguards. We know that this is an important industry in Quebec. I have to say that my colleague has done a great job in this area. This shows that an MP can make a difference. I want to thank her for that. I admire my colleague, who has done a tremendous job defending the interests of furniture and cabinet manufacturers. I listened to them and I heard them. My colleagues will be pleased to hear that we have taken action, because we know they need a helping hand. We have put in place support measures for workers in the industry. We have also taken steps to ensure that the Canadian International Trade Tribunal gives this issue all the attention it deserves. Once again, I want to thank my colleague for her exemplary work on this issue.”

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“Local news and radio are very important for people living outside big cities. We need to support them. I want the Minister of Finance to explain how our economic plan will help local news survive.”

“Mr. Chair, I want to thank the minister for his answer and for his support on this matter. The base cabinets and kitchen cabinets issue is important to the Eastern Townships. I worked on that with my colleague from Brome—Missisquoi, who has also done outstanding work. His support was exceptional. I would like to ask the Minister of Finance to elaborate a little on the importance of local media and local radio. Those of us who live in the regions do not get their news from the major national media. The news that is personally relevant to us comes from very local media, a sector that we absolutely must support. I would like to know what is included in the economic update and, more broadly, what the government intends to do to ensure that our residents have access to the news that matters most to them, in other words, the news that directly affects them.”

“Journalists are important for our democracy. That is why our government is helping newsrooms across Canada, including through tax credits.”

“Mr. Chair, I have to congratulate my colleague once again. She has been on top of this issue. We have seen in newsrooms across Quebec and Canada how important journalists are for our democracy and how important it is to support their work. That is why we launched consultations, for example, on the Canadian journalism labour tax credit. That is because we know how vital it is to support newsrooms across the country. On behalf of my colleagues, I want to take this opportunity to thank everyone who is doing that work, because they are playing their part. Both government members and opposition members have a part to play in our democratic system, but journalists also play a very important part. Indeed, we announced measures in the spring economic statement to support the work of journalists—”