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Thank you very much, Dominic. Hello everyone.
Thank you to Minister O’Regan and Premier Furey for joining us virtually.
Last week, our government presented a new, strengthened climate plan, accelerating our work to build a sustainable future.
This plan includes concrete measures – like making clean power available across the country – that will help Canada exceed its 2030 target.
In October, the Canada Infrastructure Bank earmarked $2.5 billion for clean power.
They’re working with provincial and regional partners to connect Canadians to clean electricity, including through the Atlantic Loop.
In our Fall Economic Statement, we also committed $25 million to support clean power, through local work like community engagement and engineering studies.
Our government promised to exceed the targets announced in Paris five years ago, and to move toward that goal, we are determined to gradually transitioning from coal and replacing it with clean energy sources, like hydroelectricity.
To do that, we continue to work with the provinces and territories, including of course Newfoundland and Labrador.
That’s why, last February, we announced negotiations on the financial restructuring of Muskrat Falls Project.
We still believe in its importance, and today, we have another announcement to make that shows that we are moving forward on this file.
Our government is committed to working with Newfoundland and Labrador to ensure that the ongoing Muskrat Falls Project remains on stable financial footing.
Advancing clean electrification is the smart thing to do not just for people in the Atlantic, but for all Canadians who will benefit from a cleaner environment.
Today, I can announce that we’ve appointed Serge Dupont to oversee federal work on the financial restructuring of Muskrat Falls and to advise on the next steps to support the Atlantic Loop.
As Federal Representative and Senior Executive Advisor, Mr. Dupont will be responsible for coordinating efforts across government to create a lasting solution that’s in the best interests of Newfoundlanders and Labradorians, and all Canadians.
Federal and provincial officials have now completed the first phase of the restructuring process.
The federal government has agreed to provide temporary debt relief to reduce immediate financial pressure on Newfoundland and Labrador.
This is important progress, but there’s more to be done.
We need to keep working to ensure a sustainable long-term solution for Muskrat Falls, and support both the Atlantic Loop and the broader electrification objectives in Newfoundland and Labrador.
Mr. Dupont’s appointment today, building on his strong leadership and proven record, is another step towards reaching those goals.
As we said in our Fall Economic Statement, we must continue to invest in clean energy and infrastructure in order to build strong communities and a more resilient economy for all Canadians.
Muskrat Falls will provide clean, reliable electricity for the people of Newfoundland and Labrador and the Atlantic region.
To all Newfoundlanders and Labradorians, I know it’s been a tough year.
But I also know that you’ve come together to help each other through these difficult times, as you always do.
You remind us that even if things are hard, we’re never in this alone.
Our government will continue to do our part to support families and workers as we rebuild our economy.
Clean energy initiatives not only fight climate change, they create good jobs and build a competitive economy that works for the middle class.
Together, we will build a healthier and cleaner future for everyone.
Thank you all so much.