Our government’s economic plan is delivering real, concrete action to build more homes, faster – we can hear those homes being built right now – and to make housing more affordable.
Since the depths of the pandemic, Canada has had the fastest rate of fiscal consolidation in the G7. This means we have brought down our deficits faster than any of our G7 peers. We also maintain both the lowest deficit and debt-to-GDP ratio in the G7, which is central to our AAA credit rating.
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Arif Virani, Minister of Justice and Attorney General, announced a federal investment of $1.2 billion to build 2,644 rental homes across seven new projects in Toronto, provided as fully repayable low-interest loans through the Rental Construction Financing Initiative.
To keep pace with the rapid development and growth of the crypto-asset market and to ensure that recent gains in global tax transparency will not be gradually eroded, we welcome the new international standard on automatic exchange of information between tax authorities developed by the Organisation for Economic Co-operation and Development (OECD) – the Crypto-Asset Reporting Framework (CARF). The widespread, consistent and timely implementation of the CARF will further improve our ability to ensure tax compliance and clamp down on tax evasion, which reduces public revenues and increases the burden on those who pay their taxes.
More importantly, our plan is delivering clean, reliable, and affordable electricity to people here in Manitoba. And it is creating great jobs—great careers—for people right across Manitoba, including great careers at places like Manitoba Hydro.
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present the 2023 Fall Economic Statement in the House of Commons on November 21, 2023, at approximately 4:00 p.m. ET.
Today in Winnipeg, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, and the Honourable Wab Kinew, Premier of Manitoba, announced a joint investment of $475.6 million to strengthen Manitoba’s clean electricity grid and ensure Manitobans continue receiving affordable and reliable clean energy.
In the past few weeks, as part of our economic plan, we have been taking, week after week, real, concrete action to address Canada’s housing challenge to build more homes, faster, and to act on affordability.
Protecting the pensions of every single Canadian is a priority for our government. We will always stand up for the Canada Pension Plan and for the secure and dignified retirement it provides for all Canadians—a point I made clear in today’s meeting.