Remarks by the Deputy Prime Minister and Minister of Finance on investing in Canadian workers

Mount Pearl, Newfoundland and Labrador – April 4, 2023

Good afternoon.

First, I would like to acknowledge that we are gathered on the ancestral, unceded homelands of the Mi’kmaq and Beothuk.

I am so happy to be here in beautiful St. John’s.

And I’m really glad to have spent some time today with these incredible Ironworkers, and with the very talented Plumbers and Pipefitters of UA Local 740.

I have so much respect for how hard these jobs are. The skill it takes to learn how to do them. The hard work it takes to actually do them. And the great things that the people who do these jobs create.

You are literally the people who are building Canada. And I am really glad to have the chance to talk to you, to see you in action, and very glad that in our budget we were able to provide some more support for the incredible work you do.

Over the past year, I have spent a lot of time meeting with union workers and union leaders across Canada. And at every union hall, on every job site, and at every training centre, I have been impressed by two things.

One, the real skill that people were learning and the real skill that people had as they graduated—not to mention the teachers.

And the second was the real satisfaction everyone I’ve talked to—very much including the people I’ve spoken to here—take in their work, knowing it’s work that provides a great career, a great living.

And it’s work that does something really important for us in our communities.

So, I want you to know how much I respect that work, and the people who do it.

Canada’s economy depends on union workers—it depends on the people here today.

The next few years are a pivotal moment for the Canadian economy. What President Biden, when he was in Ottawa speaking to the House of Commons, called an inflection point. That’s where we are right now.

And that’s because today, we are navigating two fundamental shifts.

First, in what is the most significant economic transformation since the Industrial Revolution, our friends and partners around the world—chief among them, the United States—are investing heavily to build clean economies and the net-zero industries of tomorrow.

At the same time, Putin and the pandemic have cruelly revealed to the world’s democracies the risks of economic reliance on dictatorships. As a result, our allies are moving quickly to friendshore their economies and build their critical supply chains through democracies like our own.

Together, these two shifts represent the most significant opportunity for Canada in the lifetime of anyone here—and a once-in-a-generation opportunity for union workers across our great country.

There are a lot of people here with me—ironworkers who are going to finish their course in May, and there are going to be jobs for every single one of them. We really need you.

We can build a thriving clean economy. We can provide our allies with the goods and the resources they need. And I know Canadian workers are going to be the ones who do it.

Union workers built Canada’s industrial economy. I learned today, ironworkers from Newfoundland built a lot of Manhattan. And union workers can build the clean economy of the 21^st century. In fact, we are counting on you to do it.

In the budget I tabled last week, we announced our plan to build Canada’s clean economy. It includes more than $80 billion in investments that will make Canada a clean electricity superpower, and ensure that Canada mines, processes, produces, and sells the goods and the natural resources that our allies need.

Our budget includes major investment tax credits for clean electricity and clean technology manufacturing—adding to major investment tax credits for carbon capture, utilization and storage, clean hydrogen, and clean technology adoption that we announced last year.

And a very important part of this is that for the first time in Canadian history, we have attached labour requirements to  these investment tax credits.

These tax credits are generous, and they are going to play an important role in encouraging businesses to invest in Canada.

So, what we’re saying to investors is: if you want to take advantage of these tax credits—if you want help from the people of Canada, if you want to build a clean electricity project, or a clean hydrogen project, or a clean technology project: you need to pay your workers the prevailing union wage, including benefits and pension contributions. You need to create apprenticeship opportunities.

We have never done that before. And this is going to mean that these tax credits, in addition to driving real investment in the Canadian clean economy, are going to create even more job opportunities for the great people here with me today, and thousands and thousands and thousands of people like them across Newfoundland and Labrador and across Canada.

That’s because we want Canada’s clean economy to be a worker-driven economy—one that creates good careers today, and where the unions that built the middle class can continue to thrive.

It’s also why we introduced the Labour Mobility Deduction, which makes it more affordable for our skilled workers to travel to where the jobs are.

It’s why this budget doubles the Tradespeople’s Tool Deduction, from $500 to $1,000, which will help our tradespeople invest in the equipment they need.

Because from ironworkers, to pipefitters, to welders, to plumbers, our clean economy is going to depend on skilled people, hard-working people like the ones who are here today.

Who is going to build clean hydrogen facilities? Who is going to benefit from thriving clean steel and clean aluminum industries? Workers like the people I’m here with today—people who are ready to roll up their sleeves, put on a pair of gloves, and earn a good living for a hard day’s work.

Our plan is about creating good jobs—for everyone, everywhere. And union workers are going to lead the way.

I want everyone here to know: I respect your work very much, and our government is an absolutely committed partner for you and union workers across the country.

We value the work you do—and I cannot wait to see the remarkable things you build in the months and years to come.

Thank you very much.