Mr. Speaker, pursuant to Standing Order 83(1), I would like to table, in both official languages, the Spring Economic Update documents for 2026, including the notice of ways and means motion.

April 28, 2026 – Ottawa, Ontario

Check Against Delivery

Mr. Speaker, pursuant to Standing Order 83(1), I would like to table, in both official languages, the Spring Economic Update documents for 2026, including the notice of ways and means motion.

The details of the measures are contained in these documents.

Pursuant to Standing Order 83(3), I am requesting that an order of the day be designated for consideration of these motions.

Introduction

Mr. Speaker, honourable Members, fellow Canadians,

When I rose in this House to deliver Budget 2025, I presented an ambitious plan to navigate current challenges and harness Canada's many strengths to position our country for success for decades to come.

The changes we are witnessing are sudden and unprecedented.

From geopolitical shifts to supply chain disruptions to rapid technological breakthroughs, including in artificial intelligence, the world is changing quickly and Canada must adapt to thrive.

That's why the Prime Minister called on Canadians to seize the opportunity and build at a speed and scale not seen in generations.

To build Canada Strong.

To build sustainably and responsibly.

To build a Canada for all.

Because we believe in Canada.

In Budget 2025, we made generational investments to build communities, empower Canadians, and protect our country.

Now the journey continues.

We do this by drawing on Canada's unique strengths and capabilities:

• We have the most educated workforce.
• A strong industrial base that builds ships, cars, and planes.
• Critical minerals to power the economy of the 21st century.
• We are an energy superpower in renewables, conventional and nuclear power; and,
• We are the only G7 country with a free trade agreement with all other G7 nations, giving us preferential access to 1.5 billion people around the world.

This is Canada, Mr. Speaker. A country that is strong, ambitious, and confident.

Above all, as the Prime Minister said, let's lead with the strength of our values and the value of our strengths.

Canada is resilient.

Canada is resourceful.

Canadians are resourceful people.

So together we can chart a path forward through the fog of uncertainty because Canada has what the world wants, and increasingly needs.

We have the right plan.

We're building big, we're moving fast, and the good news—we're just getting started!

Section 2: Fiscal responsibility

Mr. Speaker, those are serious times and Canadians expect us to be good stewards of our economy, and manage our public finances with thoughtful fiscal discipline.

Over the past six months, we have supported Canadians with concrete measures to make everyday life more affordable while strengthening our economy.

And we have built the second-fastest growing economy in the G7—while reducing our projected deficit for 2025-26 by more than $11 billion.

Our economy has been resilient, driven by GDP growth, rising incomes, and more jobs.

Let me be clear: this is good news for Canadians. It reflects a stronger, more productive economy.

And we've made this happen:

• through pragmatic and targeted investments;
• through making Canada the most tax-competitive jurisdiction in the G7 for new business investment, including the Productivity Super-Deduction;
• and through our Trade Diversification Strategy.

And we have ensured that as revenues have grown, two-thirds of this increase over the past year have been directed toward affordability measures that make a real difference in the lives of Canadians.

Guided by our commitment to spend less so we can invest more, and building on the Comprehensive Expenditure Review, our government continues to reduce spending, improve efficiency, and deliver better value for Canadians.

As a result, projected deficits are lower over the fiscal horizon. We also remain firmly on track to balance day-to-day operating spending with revenues by 2028–29 and to keep the deficit-to-GDP ratio on a steady downward path.

Canadians understand that by spending less we can invest more.

Our fiscal position is strong and allows us to build a Canada that is strong and fair.

A Canada that is not just for some, most of the time, but for all, at all times.

Building Canada Strong

Our Economy

Our ambitious plan to build the strongest economy in the G7 is on track.

We are delivering on our plan through the work led by the Major Projects Office, to supercharge 15 projects that are projected to create over 60,000 jobs and drive $126 billion in new investment.

We are delivering on our plan through a Defence Industrial Strategy, that will increase our defence exports by 50% and support 125,000 high-paying careers, with an anticipated $125 billion downstream economic benefit by 2035.

And we are delivering on our plan through an Automotive Strategy—that will protect a cornerstone of our economy while growing an industry that supports 500,000 jobs.

We are delivering on our plan, because we believe in Canada.

Building Strength and Resilience

Mr. Speaker, this is a moment for Canadians to lead. For our nation to be ambitious. 

We are building fast. Building Canadian. Building sustainably.

• From the copper and gold mine expansions in British Columbia, to the Darlington New Nuclear Project in Ontario, we are powering the next generation of prosperity.
• In the North, we are proud to support an Inuit-owned renewable energy project in Iqaluit, breaking the Arctic's reliance on diesel and returning energy sovereignty to the people.
• We are also expanding this model of economic reconciliation through the Indigenous Loan Guarantee Program, supporting First Nation equity in major projects like the Chatham-to-Lakeshore transmission line.
• And in Newfoundland and Labrador, the Bay du Nord project advanced significantly under our new government, and positions Canada to be a supplier of choice at a time when energy security is top of mind.

These projects and others like them across the country are creating thousands of high-paying careers for Canadians and strengthening communities from coast to coast to coast.

My friends, advancing economic prosperity also means building a more sustainable future.

That includes concrete climate policies that support growth, lower costs, and strengthen Canada's competitiveness.

The dream of Canada is alive and well, Mr. Speaker.

Young people increasingly see themselves building Canada Strong!

Trade Diversification

Mr. Speaker, our vision is clear: a Canada strong at home and a Canada strategic abroad.

Canada is seen on the global stage as moving with pragmatism and purpose.

Over the past year, we have shown that Canada is a top destination for foreign direct investment.

We attracted nearly $100 billion in investments, the highest level in almost two decades, and secured around 20 new economic and defence partnerships across four continents.

And this is just the beginning.

In September, we will host the first-ever Canada Investment Summit in Toronto to unlock even more opportunities, building on our trade diversification strategy outlined in Budget 2025.

Mr. Speaker, Canada is seen as a trusted partner to deliver the energy and food security the world needs, both now and for decades to come.

In a volatile environment, investors choose Canada for a reason: we offer unparallelled stability, predictability, and opportunity.

Affordability

That said, Mr. Speaker, we know that affordability is the single most pressing issue for many Canadians.

So we are relentlessly focused on what we can control: delivering targeted support where it matters most, while our economic plan takes hold.

A boost today and a bridge to tomorrow, to ease the cost of living for Canadians.

• On June 5th, more than 12 million Canadians will receive additional support through the new Canada Groceries and Essentials Benefit.
• Millions more are already benefitting from our middle-class tax cut and automatic federal benefits, ensuring they receive the support they need.
• The suspended federal fuel excise tax on gas and diesel across Canada aims to reduce Canadians' bills by up to 10 cents per litre on regular gasoline and 4 cents per litre on diesel. That relief is already being felt by consumers.
• And 400,000 children have access to healthy meals, while their parents are saving $800 a year on groceries, because we have made the National School Food Program permanent.
• First-time home buyers are saving up to $50,000 since we eliminated the Goods and Services Tax on homes priced at $1 million or under.
• And over 6.5 million Canadians can now access affordable dental care through the Canadian Dental Care Plan.

Mr. Speaker, from the beginning, we have placed people and affordability at the centre of our economic plan. Because we know that these pressures are real and demand immediate action.

Because we believe in a Canada for all.

Spring Economic Update 2026

This brings me to the Spring Economic Update that Canada's new government is tabling today.

Canada Strong Fund

Our objective is clear: to build a stronger, more independent, more resilient economy.

That work begins by investing in our future. And by giving Canadians the opportunity to take part in building it.

Through our flagship Canada Strong Fund, we are creating Canada's first national sovereign wealth fund.

A sovereign fund is essentially a national savings and investment account designed to grow wealth for future generations.

The Fund will invest in key, strategic Canadian projects and companies, creating jobs, supporting innovation, and making Canada more competitive.

Canadians themselves will be able to take part directly by investing in the Fund, sharing in our growth, and contributing to the country we are building together.

Because we are all in for Canada.

Workers and Young People

Mr. Speaker, investing in our future also means investing in the people who are building it.

That's why this Update is focused on helping workers and young people gain the skills, experience, and support they need to succeed—and bridging them with opportunities.

We are creating new opportunities for young Canadians to give back to their country by launching Team Canada Strong, a nationwide effort to recruit, train, and hire 80,000 to 100,000 new skilled trades workers.

This means real, paid pathways into the skilled trades with training and hands-on experience.

It means more opportunities for employers to hire and train young workers.

It means a $5,000 bonus when you complete your Red Seal certification.

And most importantly, it means being part of building a stronger Canada.

And we are making education more affordable by extending the increases to Canada Student Grants and interest-free Canada Student Loans, which will benefit thousands of students.

And we are doing much more, because growth depends on people and on giving them the tools to succeed.

That's at the core of a Canada for all.

Housing

And it's thanks to this new generation of builders that we will be able to build enough homes, here in Canada.

Mr. Speaker, this brings me to one of the most pressing challenges facing Canadians today: housing.

Housing is a key pillar of affordability, and we have made significant and tangible progress to build more affordable housing.

Since their peak, home prices are down 20% and rents are down 9% nationally.

For many families, that is starting to translate into real relief.

But more work needs to be done.

This Update continues the work of Build Canada Homes with a plan to increase supply, lower costs, and help more Canadians find a safe, affordable home.

So we are:

• Cutting red tape to build homes faster
• Supporting innovation in construction
• Unlocking over $7 billion in low-cost financing
• Boosting housing supply and protecting construction jobs across Canada, in partnership with provinces and territories, and
• Helping those most in need by extending support for people experiencing homelessness and ensuring survivors of gender-based violence have access to safe housing.

Because we believe in a Canada for all.

Defence

Mr. Speaker, security starts at home, but it also extends beyond it.

We embarked on a mission to rebuild, rearm, and reinvest in the Canadian Armed Forces.

In the last year, we have invested over $63 billion into our defence and security.

This marks a historic shift in support for our military, one that is already delivering results.

In March, NATO confirmed that Canada has achieved its 2 per cent defence expenditure target—half a decade ahead of the original schedule!

We will continue to strengthen our defence capabilities, equip our forces with modern, Canadian-made equipment, and invest in our workers and our defence industry.

And because national security begins with those who serve.

We announced the largest pay increase for the Canadian Armed Forces in a generation, with recruitment now at a 30-year high.

Because we are all in for Canada.

Stronger Communities

Mr. Speaker, strong communities are also safe communities, and communities that bring people together.

That is why this Update invests in the things that make communities stronger, safer, and more connected.

We are moving forward with a Financial Crimes Agency and a National Anti-Fraud Strategy, helping protect Canadians and strengthen trust in our financial system.

We are also taking steps to make communities safer, with stronger tools to address crime and better protect public spaces.

We are investing in the vitality of our communities, and in the programs and people that support them.

That includes the most significant investment in our sport system in 20 years, to expand access for youth and better support high-performance athletes with additional funding of $755 million.

Canadians understand the power of sport—how it pushes us to do better and brings us together in our communities.

We saw this last year during the Olympic and Paralympic Winter Games, and we see it every day on our rinks, in our sports centres, and in our school yards.

A Canada for all must also be a Canada where sport is accessible for everyone.

So our strategy from the playground to the podium will make a real difference, unite our country—and inspire a generation of young Canadians, in a true Canadian way!

And along our coasts, that same spirit of hard work and community lives in our small craft harbours.

They are more than infrastructure—they are a foundation for coastal communities, where over five million Canadians live, sustaining Indigenous traditions, and powering thousands of jobs in the fish and seafood industry.

That is why we are investing almost $1 billion to repair and strengthen these vital harbours.

Because when we invest in these places, we invest in the people who depend on them.

And these are not isolated measures. We made these investments with a purpose.

Let me make it real for you.

In Budget 2025, we made generational investments in infrastructure to build stronger communities – delivering tangible benefits across the country.

Now, Team Canada Strong will empower a new generation of workers from those same communities to help build the local infrastructure the government is investing in.

Whether that means homes, sports facilities, or transit systems, these projects will be built by workers in our communities, and for our communities.

And these are not isolated measures. We made these investments with a purpose.

Let me make it real for you.

In Budget 2025, we made generational investments in infrastructure to build stronger communities – delivering tangible benefits across the country.

Now, Team Canada Strong will empower a new generation of workers from those same communities to help build the local infrastructure the government is investing in.

Whether that means homes, sports facilities, or transit systems, these projects will be built by workers in our communities, and for our communities.

Because when communities are strong, safe, and connected, Canadians thrive together.

Because we are all in for Canada.

Conclusion

In conclusion, Mr. Speaker, this Spring Economic Update reflects the progress we have made—and the important work that remains.

Building a Strong Canada while ensuring that progress and economic growth are felt by Canadians across the country.

It's about stepping up—for our businesses, for our entrepreneurs and workers, our farmers and fishers, and for Canadians from all walks of life.

Making sure the projects that build our nation move forward, and that people have the support they need to get ahead, especially those affected by unjust tariffs.

It's about building Canada Strong for all.

Because when we do, there is no limit to what we can achieve.

As Canadian astronaut Jeremy Hansen showed us on his recent journey around the moon, the sky is no longer the limit!

So let's seize the moment.

Let's be ambitious.

Let's build Canada Strong together.

Long live Canada!