Good morning, everyone. Good morning, everyone. As you may have seen, I just had the pleasure of speaking to a room of global investors from nearly 30 countries responsible for managing well over $100 trillion in assets. And what I told them is a series of things that Canadians see clearly. We know we have what the world wants, the energy, the resources, the talent, the technology, the capital, the drive. But the greatest strength is something that you won't see on any balance sheet, something we've earned, which is trust. In a world that's undergoing a rupture, we also understand a simple truth that we must take care of ourselves and must always take care of each other. And that unity is our true competitive advantage and that our ambition is now catching up to our potential. So, this summit is not a promise of that potential. It's proof of that potential. A potential we are beginning to realize. We brought the world to Toronto with a clear message, that Canada is building big. And so, it's an opportunity for them to build along with us. And I'm pleased the response has been overwhelming. 

Canada’s largest pension funds, insurance companies and institutional investors have committed to investing nearly $100 billion in new capital in Canadian assets. Canadian banks, regarded as the most stable in the G7, have committed to providing nearly $325 billion in new financing to Canadian businesses and infrastructure.

Our investment funds are also committing to mobilize more than $14 billion to grow Canadian companies in strategic sectors, and that includes Radical Ventures committing to invest and mobilize $4 billion for a new Radical Breakouts fund, the largest venture capital fund of its kind in Canadian history, to help Canadian AI companies scale up and stay Canadian and serve Canadians.

Bell Canada and the Government of Saskatchewan announced one of the largest AI infrastructure investments in Canadian history, a 1.2-gigawatt Canadian AI infrastructure hub built in Saskatchewan. More than $50 billion in investment, the largest in the province's history, generating more than 4500 jobs. This is Canada building our AI backbone, the sovereign compute that will power the discoveries, the industries and the careers of the next generation right here at home. And this is Canada, setting the tone, building our future and owning the technology, owning the technology under our values, our laws that shaped it. That's just one project. All told, this summit is laying the foundation for enormous new investment and strategic partnerships. Accelerating transactions, deals already in motion and bringing nearly half a trillion dollars in new investment commitments for Canada.

What does that mean for Canadians? It means more and better jobs. It means better services. It means a brighter future. It means capital coming into our companies. Tens of thousands of good jobs in the construction for electricians and engineers, for tradespeople, technologists in every region of the country. 

It means industries of tomorrow being built right here and owned by Canadians in sectors such as energy, critical minerals, artificial intelligence, and defence – and returns that stay here in Canada. It means infrastructure built to last: electricity grids, ports, pipelines, data centres, railways and roads that our children and grandchildren will still be using and will continue to be proud of decades from now. This week, we have not only attracted new capital. We have forged a new path toward a stronger, more prosperous, and more sovereign future.

Now, to build on this momentum and unlock even more of Canada's potential for Canadians, we announce new measures to make Canada the best place in the world to build big by far. And that starts with the Productivity Mega Deduction. It lets businesses write off a far wider range of investments right away. Fiber optic cable, mining, property pipelines, rail, aircraft, vehicles, manufacturing equipment and much more. We're taking the share of assets that qualify from roughly 15% to almost two thirds, and we're making immediate expensing permanent so businesses can recover their costs sooner. The result is that Canada's effective rate on new investment will be the lowest of any major economy in the world, less than one half the rate in the United States.

As part of the Business Development Bank of Canada’s $6 billion platform, we are investing $1 billion to help innovative Canadian companies in sectors such as defence and critical minerals to expand and compete globally. In an increasingly uncertain world, we're leveraging our strengths, scaling our ambition and we're moving at speed. We've already begun to dramatically accelerate major nation-building projects through the major project office, and we're now going to apply the same urgency and efficiency and focus more broadly through a new Build Canada Strong Act. For projects and supply chains, our standard will be simple: one project, one review, one year. 

Canada will always be a country of high standards. But high standards do not mean decisions have to be slow. Predictability is a competitive advantage. When Canada decides a project should go ahead, that project will go ahead. Together, these measures fundamentally transform the way Canada approaches investment. Invest at lower cost. Build faster. Public assets that work harder for Canadians. A tax system that strengthens our competitiveness.

We have the resources. We have the talent. We have the capital. We're now matching them with speed, ambition and execution. Now, we've accomplished a great deal already, and yet we're only really beginning to imagine what's been set in motion. We've seen it happen before. Conversation turns to commitment. Commitment turns to investment. I'll give an example. Last August, Minister Hodgson and I sat down in Berlin with one of Germany's largest energy companies to talk about Canadian LNG. To be clear, that’s August, 13 months ago. Nine months later, they signed a 20-year agreement to buy 2 million tonnes a year from the Ksi Lisims LNG project on our west coast. There are countless more examples of this from coast to coast to coast. 

Through the trade and investment missions our government has led abroad, a Montreal company, Marconi, manufactures radios here for the Polish Armed Forces. A New Brunswick family business, Covered Bridge, sells its chips in Japan. As a result of a trade arrangement with China, our fish harvesters, our pea farmers, our canola producers are earning more for what they grow and catch. Canada has what the world wants. The difference this week is the direction. We didn't cross an ocean to make our case. The world came to us to peer in our shop window.

It found a Canada that is chosen to build, to build together, to build for Canadians, and they are choosing to build with us. It's a powerful thing, but it's not all. It matters. Yes, it does matter that the world's gathered here, but what matters most is what we do for ourselves. Because when we invest in our own potential as Canadians, when we strengthen our own competitiveness as Canadian business, when we become our own best customer, we give ourselves far more than anyone else can take away. We lay the foundation for even greater investment, greater prosperity, a fairer country that endures.

The world is looking at Canada differently, and we should look, I'd suggest that ourselves differently, too. It's not about who we aren't. It's about who we are. It's not about what's lost. It's about what we have and about what we create. We're kind, generous, hardworking, ambitious people. We have the trust of our partners, a renewed sense of self-confidence, a rising conviction. This is our country. This is our future. We're building it together. That's Team Canada and that's Canada Strong.