Minister Champagne highlights budget investments in Indigenous reconciliation

LA TUQUE, QC, April 23, 2024 /CNW/ - The federal government recently delivered Budget 2024: Fairness for Every Generation.

It is a plan to build a Canada that works better for everyone, where younger generations can get ahead, where their hard work pays off, and where they can buy a home—where everyone has a fair chance at a good middle-class life.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, visited La Tuque, Quebec, to highlight Budget 2024 investments in Indigenous reconciliation. The Minister spoke about the Indigenous Loan Guarantee Program, which will offer up to $5 billion in loan guarantees to unlock access to capital for Indigenous communities, enabling them to share in the benefits of natural resource and energy projects in their territories and on their own terms. He also spoke about the Indigenous Housing and Community Infrastructure investments of $918 million beyond the $5 billion already available for communities in 2024–2025 to accelerate work to narrow housing and infrastructure gaps in First Nations, Inuit and Métis communities. This is in addition to unlocking pathways to post-secondary education by investing nearly $243 million for the next generation of First Nations university, college and post-secondary students, building on the $487.5 million over 10 years invested in Inuit and Métis post-secondary education strategies through Budget 2019.

First, the budget takes bold action to build more homes. Because the best way to make home prices more affordable is to increase supply—and quickly. It lays out a strategy to unlock 3.87 million new homes by 2031. Key measures include launching the new Public Lands for Homes Plan and Canada Rental Protection Fund, enhancing the Canadian Mortgage Charter, and creating a new Canadian Renters' Bill of Rights.

Second, it will help make life cost less. The budget builds on the government's transformative expansion of Canada's social safety net—$10-a-day child care, dental care for uninsured Canadians, the first phase of universal pharmacare—and advances the government's work to lower everyday costs for Canadians. This includes helping to stabilize the cost of groceries, cracking down on junk fees and lowering the costs of banking. Budget 2024 also makes transformative new investments, including a National School Food Program and the Canada Disability Benefit.

Third, this year's budget will grow the economy in a way that's shared by all. The government's plan will increase investment, enhance productivity and encourage innovation. It will create well-paying and meaningful jobs, keep Canada at the economic forefront, and deliver new support to empower more of our best entrepreneurs and innovators. This includes attracting more investment in the net-zero economy by expanding and delivering the major economic investment tax credits, securing Canada's advantage as a leader in artificial intelligence, and investing in enhanced research grants that will provide younger generations with good jobs and new opportunities. And it means ensuring Indigenous Peoples share in this growth in a way that works for them.

Budget 2024 will also make Canada's tax system fairer by asking the wealthiest to pay a bit more so that the government can invest in prosperity for every generation, and because it would be irresponsible and unfair to pass on more debt to the next generations. Budget 2024 is a responsible economic plan that upholds the fiscal objectives outlined in the 2023 Fall Economic Statement and sees Canada maintain the lowest deficit- and net debt-to-GDP ratios in the G7.

"For the Canadian economy to achieve its full potential, Indigenous communities must have the chance to make their full contribution. I am pleased to be in La Tuque to highlight the Budget 2024 measures that will help Indigenous communities pursue opportunities and create economic benefits. With this budget, Canada is on its way to fairness for every generation."

– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

• Budget 2024: Fairness for Every Generation
• Budget 2024: Remarks by the Deputy Prime Minister and Minister of Finance
• Backgrounder: Key Measures
• Backgrounder: More Affordable Homes
• Backgrounder: A Stronger Social Safety Net
• Backgrounder: Fairness for Younger Generations
• Backgrounder: Economic Growth and Productivity
• Backgrounder: Growing Small Businesses
• Backgrounder: Safer, Healthier Communities
• Backgrounder: A Fair Future for Indigenous Peoples
• Backgrounder: Tax Fairness for Every Generation
• Budget 2024: Canada's Consumer-Driven Banking Framework

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