Hello, good afternoon, everyone. It is with great honour and greater humility that I have accepted the Governor General's request to form a new government, and I share this responsibility with the members of Canada's new federal cabinet.

(Applause)

I'm going to applaud them. I’m going to applaud them. Canadians elected this new government with a strong mandate – to define a new economic and security relationship with the United States and to build a stronger economy for all Canadians. Canadians also sent a clear message that their cost of living must come down, and that our communities must be safe.

The swearing in of this cabinet is amongst the fastest following an election, and the beginning of the new Parliament will be one of the most rapid following elections in Canadian history. We are starting as we aim to go on, our government will deliver its mandate for change with urgency and determination. We're going to deliver that mandate with a new team purpose-built for this hinge moment in Canada's history.

This cabinet is smaller and more focused than those of previous governments. It will operate with a commitment to true cabinet government, with everyone expected and empowered to show leadership. To bring new ideas, to have a clear focus, and to take decisive actions to accomplish their work. In a return to more traditional cabinet government, our cabinet will be supported by ten secretaries of state who will lead on key priorities within their ministers’ portfolios.

We will govern as a team, both in cabinet and in caucus, and will engage constructively with all parties in Parliament.

The decisions made by this new Parliament, which starts on the 26th of May, will be critical to Canada's future. Our new government's core priorities will be outlined on the 27th of May by His Majesty King Charles III in the Speech from the Throne.

We will collaborate with all our partners to fulfill our objectives and bring about the changes Canadians desire. Canada is more than a nation; It is a confederation founded on the union of English, French and Indigenous peoples. The approach of our government will reflect this reality.

We will govern as a cabinet constructively and collaboratively, working with caucus and across parties in Parliament to deliver the change that Canadians want and desire. Our new government will be a strong and reliable partner to the provinces, the territories and to Indigenous peoples. We will reinforce bridges across labour, business and civil society. And together, we will advance the nation-building investments that will support the core mission of this government, which is to create the strongest economy in the G7; an economy that works for everyone.

While our workers and companies continue to come to terms with unjustified tariffs imposed by the United States, my government will fight to secure the best possible agreement for our country. To this end, we will take the time required—no more. At the same time, we will strengthen our ties with reliable partners. Canada possesses what the world needs, and we stand for values that command global respect.

We will strengthen our own economy—an economy that creates jobs, increases wages and is resilient to shocks. To achieve this, we will build one unified Canadian economy instead of 13. By Canada Day, my government will have fulfilled its role in achieving this goal.

We're working already closely with the provinces, territories and Indigenous peoples to identify and catalyze projects of national significance; projects that will connect Canada, deepen our ties with the world and grow our economy for generations. That work will be the primary focus of the First Ministers meeting that's due to take place on the 2nd of June in Saskatoon. My government will also take immediate action with immediate legislation to fast track these nation building investments, and to eliminate all remaining federal barriers to internal trade as our contribution to building one Canadian economy out of 13.

In everything, we will be guided by our conviction that our economy is only strong when it serves everyone. That means bringing down costs for all Canadians, it means making life more affordable and helping everyone to get ahead. To those end, my last government's first act was to cancel the consumer carbon tax. In this new Parliament, our new government will put more money in Canadians pockets with a middle-class tax cut that will take effect by Canada Day, saving two-income families up to $825 a year.

We will also cut the GST on homes under $1 million for first-time homebuyers and lower the GST on homes between 1 million and 1.5 million, helping to promote the goal of affordable homeownership. But that goal can only truly be achieved by doubling the rate of home building in this country, so we will build homes faster at lower costs, with a smaller environmental footprint in construction, and greater efficiency once families move in. And in that process, we will create an entirely new Canadian housing industry in modular and prefab housing using Canadian technology, Canadian skilled workers and Canadian lumber.

My government will work relentlessly to keep Canada secure as a sovereign Nation and to keep Canadians safe in their communities. We will build a stronger Canadian Armed Forces to defend every inch of our territory through unprecedented investments in land, air, sea and cyberspace. We will strengthen Canadian law enforcement and border security, including with 1,000 new RCMP personnel and 1,000 new border security officers. And we will toughen the criminal code for those threatening the safety of Canadians, including making bail harder to get for those charged with stealing cars, with home invasion or with human trafficking.

We will foster greater trust in our justice system, as we will do for our immigration system. By imposing a cap on the number of temporary foreign workers and international students, we will reduce immigration to reasonable levels. A new fiscal discipline will inform all our actions, and our government will spend less so that Canadians can invest more.

This work is already under way, and our new government will step up its efforts starting tomorrow at the first meeting of cabinet (inaudible). Canadians have entrusted us with the mandate to implement bold changes, promptly. I will work tirelessly to be worthy of their trust.

In this past election, more than 1900 people put their names on a ballot, and more than 19 million Canadians marked those ballots with their choice, and every vote counted. So, whether you voted for this government or not, we are in your service, in the service of building a stronger, more united Canada. We will build and we will govern for all Canadians. Build big, build bold, build now.