Question Period Note: Economic Prosperity

• Our Government works with Indigenous businesses and communities to promote long-term prosperity and job and wealth creation.

• We support capacity-building and empowering communities; unlocking land and resources; and improving access to business capital.

• Our programs and services support community economic planning, Indigenous entrepreneurs, and Indigenous financial institutions.

• We will continue to work with Indigenous partners, other governments and the private sector, to increase the participation of Indigenous people in the Canadian economy.

The Department is working in collaboration with other federal departments (such as ISED, ESDC and regional development agencies) and Indigenous communities and partners on building self-sufficient communities; maximizing individual potential; unlocking land and resources; and improving access to business capital for Indigenous peoples. This contributes to the Government of Canada’s mandate commitment to promote economic prosperity and create jobs for Indigenous Peoples.

To support self-sufficient communities, the Department provides community development funding through the Lands and Economic Development Services Program and the Community Opportunity Readiness Program to identify economic development opportunities and participate in the Canadian economy. Legislation such as the First Nations Fiscal Management Act provides First Nations with a framework to exercise jurisdiction over core fiscal and governance matters including property taxation, financial management, and ability to access financing on capital markets for community infrastructure and economic development. The First Nations Land Management Act provides First Nation communities with the opportunity to opt-out of the 33 lands-related sections of the Indian Act and instead operate under a land code developed and approved by the community to manage their reserve land, environment, and resources. Indian Oil and Gas Canada engages with First Nations in the management of oil and gas resources from First Nation reserve lands, leveraging economic opportunities that benefit First Nations.

The Aboriginal Entrepreneurship Program improves employment and economic outcomes for Indigenous peoples and reduces the socio-economic gaps by supporting creation and expansion of viable Indigenous businesses, including improved access to capital delivered by the Aboriginal Financial Institutions network and through business development opportunities provided by the Procurement Strategy for Aboriginal Businesses. The Strategic Partnerships Initiative is a catalyst for partnership and investment in Indigenous economic development opportunities across Canada, which brings 17 federal partners together to pool resources and funds, and leverage other funding sources to support Indigenous communities in increasing their self-sufficiency and economic prosperity.

If pressed on economic growth

• Our Government is advancing a renewed relationship with Indigenous peoples, which includes creating an environment that truly supports economic growth.

• Recent changes introduced include amendments to the First Nations Fiscal Management Act, First Nations Land Management Act, and the Addition of Lands to Reserves and Reserve Creation Act.

• These amendments will spur economic growth by:

• supporting more timely decision making for adding land to reserve and enabling more First Nations to manage those lands at the speed of business; and
• enabling the First Nations-led fiscal institutions to support more First Nations and First Nation organizations with fiscal management, taxation and access to long-term financing.

• We’re proud of these steps as we all work to advance reconciliation and self-determination.