Finance Ministers Meet to Build on Their Productive Partnership
June 18, 2017 - Ottawa, Ontario - Department of Finance Canada
Canada's Finance Ministers have a proven record of working together in a spirit of collaboration to deliver results that benefit the middle class and those working hard to join it.
Finance Ministers will gather in Ottawa on June 18-19, 2017 to build on their productive partnership. As the Canadian economy gathers steam, the semi-annual meeting will focus on working collaboratively to support growth that benefits everyone.
To this end, the Ministers are expected to discuss:
- Canada's relationship with its most important trading partner, the United States.
- Improving the availability of beneficial ownership information to safeguard against money laundering, terrorist financing, tax evasion and tax avoidance.
- Engaging the provinces and territories in the development of principles for a coordinated approach to the taxation of cannabis.
Additional agenda items will include a presentation by Bank of Canada Governor Stephen Poloz, and the 2016-2018 Canada Pension Plan (CPP) Triennial Review, which will examine the design of CPP supplementary benefits, such as child rearing and disability drop-out provisions.
"Canada's Finance Ministers can be proud of what they have accomplished for Canadians in recent years. We have enhanced the CPP and reached agreements to bolster our public health care system. The Canadian economy is growing, having created more than 316,000 jobs in the last 12 months, and people are more confident about their future. We know that we have a lot of work to do for Canadians, and I would like to thank my provincial and territorial counterparts for their vision, effort and commitment to this partnership.
"I look forward to working with my provincial and territorial colleagues to begin a dialogue on the important issue of taxation of cannabis. Our Government's goals are clear: we want to keep criminal elements out, and we want to keep cannabis out of the hands of children. This will mean keeping taxes low, and working together on an ongoing basis to ensure a coordinated approach."
- Bill Morneau, Minister of Finance
- The CPP enhancement that Canada's Finance Ministers agreed upon in June 2016 is now fully legislated and in force. It will increase the maximum CPP retirement benefit by about 50 per cent.
- Health funding agreements have been reached with 12 provinces and territories for an additional $11 billion in federal funding over 10 years to support better home care and mental health initiatives. This investment will make Canada's health care system more responsive to the needs and expectations of all Canadians, and begin to close long-standing gaps in the availability of care.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada