| Department of Finance Canada | statements
Statement of the G7 and Australia on Price Cap Rule Updates for Seaborne Russian-Origin Oil and Petroleum Products
| Department of Finance Canada | statements
Today, the Government of Canada is providing an update on federal support for Canada’s innovation ecosystem, with a focus on improving existing programs that support Canadian businesses.
| Department of Finance Canada | statements
Earlier today, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is maintaining at its current level the minimum qualifying rate for uninsured mortgages. This rate came into effect on June 1, 2021, and was last reaffirmed on December 15, 2022.
| Department of Finance Canada | statements
At my instruction on June 14, 2023, the Government of Canada immediately halted all government-led activity at the Asian Infrastructure Investment Bank (AIIB). This urgent step was taken after serious concerns were raised about the AIIB by a former employee.
| Department of Finance Canada | statements
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.
| Department of Finance Canada | statements
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today issued the following statement after a meeting of provincial and territorial Finance Ministers regarding the Government of Alberta’s proposal to withdraw from the Canada Pension Plan (CPP):
| Department of Finance Canada | statements
Over the past twenty years, CPP Investments has grown the CPP’s assets from $36 billion to more than $570 billion, of which about $380 billion was generated from investment income. In fact, between 2013 and 2022, CPP Investments delivered the highest ten-year returns of any pension fund in the world.
| Department of Finance Canada | statements
Our constituency wishes to express our heartfelt sympathy and deepest condolences to the people of Morocco and Libya in the aftermath of the terrible earthquake and flood of September 2023.
| Department of Finance Canada | statements
We remain firmly committed to supporting Ukraine for as long as it takes. Canada championed the creation of the IMF’s Administered Account for Ukraine, which has raised approximately C$6.8 billion from Canada, Germany, the Netherlands, and Belgium to help the Government of Ukraine continue to deliver essential services and restore critical infrastructure.
| Department of Finance Canada | statements
Since the establishment of the price cap policy, the Coalition has closely monitored markets—including price trends and volumes exported by Russia to ensure that the price cap continues to function as intended. Russian oil tax revenue was down 45% from January-August this year, relative to 2022. Given recent price movements, the Coalition is focusing on supporting compliance and enforcement of the policy.
