Remarks by the Deputy Prime Minister and Minister of Finance on supporting the growth of Ontario’s clean electricity grid

February 10, 2023
Ohsweken, ON

I would like to start by acknowledging that we are gathered on the ancestral land of the Six Nations of the Grand River and the Mississaugas of the Credit First Nation.

I would like to thank Chief Hill, Matt Jamieson, Annette Verschuren, and Mike Crawley for the warm welcome.

And I am glad to be here with Premier Ford, and with Ontario Energy Minister Todd Smith for this exciting announcement.

This announcement is really the best of Canada. This is about Canada today and about Canada’s future. This project is about Indigenous prosperity and Indigenous People taking control of their lives and economy. It is about Canada’s clean economy present and future, and about the jobs we are creating today and for the future. Because that is where the world is going, and Canada is going to get its share of those jobs. This is about collaboration between the private sector, the three great companies here, and the public sector, and it's about collaboration between the federal government and a provincial government that is a very important partner for us.

Everybody has their moments when they're worried. Things are really uncertain in the world economy, things are tough for a lot of families, and people are concerned about the future and where things are going. So, I really want people to think about this specific announcement today, because I think you can see in it the best of our country, and how we are able to work together to build something even better.

The last three years have truly shown that we are better when we work together to serve Canadians.  We have seen this with Canada’s remarkable economic recovery from the post-pandemic recession.  The IMF projects that Canada will experience the strongest economic growth in the G7 in the fourth quarter of this year.

800,000 more Canadians have jobs today than they did before COVID hit. Canada has recovered 126 per cent of the jobs lost to COVID, and that compares to 112 per cent in the U.S. It has been a remarkable jobs recovery. That recovery has been driven by the hard work of Canadians, by the hard work of amazing people who are here today, and it's also been driven by effective collaboration by governments across the country.

One example of that is childcare. In part, as a result of the agreements we signed with every single province and territory—absolutely including Ontario— on early learning and childcare, the labour force participation rate for Canadian women in their prime working years is today at a record 85.6 per cent.

That is huge. That is one of the things driving our economy forward. So this work really is about jobs, jobs, jobs, as Annette so eloquently said.

We saw how effective collaboration between all levels of government can be for improving the lives of Canadians earlier this week, when we came together—the federal government, provinces, and territories—to strengthen Canada's universal, publicly-funded healthcare system with a federal investment of more than $198 billion over the next ten years.

This is significant funding to address the crisis in our emergency rooms, operating rooms, and pediatric hospitals.

To provide better access to family doctors, and mental health care services. And as part of that plan, very critically, we announced $2 billion to support Indigenous communities, as they invest in the health of their people.

Better health data, and better outcomes for people here in Ontario and across the country.

Now, I want to acknowledge today that Premier Ford has been an important partner for the federal government in our conversations about this essential challenge from the very beginning, and I know our governments will continue to work together to get this over the finish line. 

When I say that we as Canadians are at our best when we work together, that's not some political bromide, that's not some hopeful assertion. That is the reality. And today is a fantastic example of that.

Working in partnership, Canada, Ontario, Six Nations of the Grand River, NRStor, Northland Power and Aecon Group, we're building the largest battery storage project in Canada and one of the largest in the whole world.

The future is right here.  It's being built right now. I am proud to announce today that the Government of Canada is making this project possible with $50 million in funding from our Smart Renewables and Electrification Pathways program, and that is on top of $170 million in funding from the Canada Infrastructure Bank.

This project is going to help create great jobs for people in Ontario. It will store and supply the clean electricity that our province needs, and it will help create economic opportunities for Indigenous communities like Six Nations.

And I really want to recognize Chief Hill and Six Nations for their leadership. Reconciliation is a priority for our government. I think it's a priority for all Canadians. Canada is an amazing country, but we have an original sin, and reconciliation is the path forward. And I absolutely believe that Indigenous prosperity, built through projects like this one. is an essential part of the path to reconciliation. So thank you very much for your hard work on this.

This type of project is what Canada is going to need in the coming years, and our government will work with Premier Ford and his team to help build a stronger, more sustainable economy here in Ontario.

The global transition to carbon neutrality is the most important economic transformation since the industrial revolution itself. Canada is faced with an opportunity that comes up once a generation. Which is to invest in a clean 21st century economy. One that can create more good jobs, and build more prosperous and more dynamic communities from coast to coast.

Whether it is critical minerals or batteries or electric vehicles, we need to ensure that we as a country seize these historic opportunities and secure Canada's—and Ontario's—place in the clean economy the world is building today.

There is a window open right now, and we have a choice. Do we jump through that window? Do we seize that opportunity? Or do we get left behind? Seizing this opportunity will be one of our government’s primary focuses this year, and we know that we can't do it alone. We need partners, like the partners you see here today.

This is a time of real fiscal constraint at the federal level. The federal government provided eight out of every ten dollars to support Canadians and the Canadian economy during the pandemic, and our ability to spend is not infinite.  Like our investments in healthcare, our response to the Inflation Reduction Act, and our broader investments in Canada's clean economy are historic imperatives.

We must act, and we know it. And like strengthening our healthcare system, this must be a Team Canada effort.

So, as I discussed with my provincial and territorial counterparts at the Finance Minister's Meeting in Toronto exactly a week ago, we are looking forward to working with the provinces and territories to invest alongside the federal government, as we build a thriving 21st century Canadian economy.

Just as we have so often worked together over the past three years, our government is looking forward to continue working with Premier Ford and his government to grow our economy and create great jobs for people across Ontario and across Canada.

Merci beaucoup. Thank you, Miigwech.