Remarks by the Deputy Prime Minister and Minister of Finance at the Meeting of Federal, Provincial, and Territorial Finance Ministers 

Certainly from the federal government’s perspective, even as we face the big and important challenges of today—even as we recognize we need to meet the moment when it comes to building that clean economy, creating those Canadian jobs, and supporting our health care system—we recognize we’re doing it at a time of real fiscal constraints and when fiscal responsibility is important as well.

February 3, 2023 - Toronto, ON

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Welcome to Toronto and to my riding of University—Rosedale.

It’s wonderful to be here with you. Before we begin, I want to acknowledge that we are gathered on the traditional territories of many nations, including the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee, and the Wendat peoples.

We’ve had a number of virtual conversations, but because of COVID this is our first in-person meeting. And I must say that it was a pleasure to have dinner together, and it’s really a pleasure to be able to talk to each other in person. I also want to thank Peter Loewen, director of the Munk School, and his entire team for the warm welcome.

It really is a pleasure to be meeting here in person together. We have all of Canada’s main political parties represented around this table, and I know there are a lot of things we disagree about.

I also know there are a lot of things we do agree on and, at the end of the day, we all have the same job, which is to work for Canadians. And I know that we do that job best when we work together. That is not just a hopeful assertion—that is the reality of our work together over the past three difficult years.

The people around this table came together to support Canadians and the Canadian economy during the COVID pandemic. People around this table came together to support Canadians, Canadian families, and Canadian women with a national early learning and child care program. And I know that there are still some really big challenges that we face, which we will have the chance to discuss today.

I'm looking forward to talking about the world’s transition to a clean economy and my conviction that it is absolutely essential for Canada and Canadian jobs to have our share, our rightful place in that clean economy that the world is building today. I think that’s one of the biggest challenges at the moment and something all of us need to work together on.

I think we all also know that there are some challenges with health care in the country, and that’s something that we’ll have a chance to talk about as well. And there is a lot of uncertainty in the global economy right now: interest rates and inflation remain elevated. Later today we’ll have the opportunity to discuss these global and national issues with the Governor of the Bank of Canada, Tiff Macklem, and I know that the conversation with the Governor will be useful and important for all of us.

Certainly from the federal government’s perspective, even as we face the big and important challenges of today—even as we recognize we need to meet the moment when it comes to building that clean economy, creating those Canadian jobs, and supporting our health care system—we recognize we’re doing it at a time of real fiscal constraints and when fiscal responsibility is important as well.

So I think we’re going to have a lot to talk about and I look forward to having that discussion together.