Chiefs of Ontario responds to the 2024 Fall Economic Statement

Press Release

(Toronto, Ont.–Dec. 18, 2024) The Chiefs of Ontario has issued the following statement on the Fall Economic Statement, tabled this week in Ottawa:

Disappointingly, there do not appear to be many details on First Nations-specific investments in the 2024 Fall Economic Statement (FES). The Chiefs of Ontario continues to deliver strong messaging to the government that it needs to stop its pan-Indigenous approach, and that policies and funding announcements need to be distinctions based. We will continue to go through the information provided in the 2024 FES to ensure First Nations Leadership are aware of any policies or funding announcements that could affect them.

Among the announcements specific to Indigenous initiatives is the launch of the Canada Indigenous Loan Guarantee Corporation. The corporation is part of the $5-billion Indigenous Loan Guarantee Program that was announced in the 2024 FES . The stated goals of the loan program and the corporation are to ‘support Indigenous groups’ acquisition of an equity stake in commercially viable projects in the natural resources and energy sectors,” according to the statement tabled this week.

First Nations have never been able to use their lands for collateral to access funding and hopefully this program will help fix that longstanding problem. While we are not yet clear on the Ontario First Nations-specific funding allocation, we are pleased that the government requires applicants to be legitimate section-35 rights holders.

The statement released this week also does not include funding for First Nations infrastructure that would demonstrate the government is on track to meet its 2030 commitment to close the infrastructure gap faced by First Nations in Canada. The largest infrastructure gap facing First Nations in Ontario is housing and related infrastructure, which will require a $37.9-billion investment to ensure on-reserve housing is equal to housing off reserves.

There is a $100-million loan agreement with First Nations Bank of Canada through Canada Infrastructure Bank investments, but it is unclear how much of this loan will be allocated specifically to First Nations. The economic statement also shows that only $15.4 million has gone to nine First Nations in Ontario through the federal government’s $4 billion Housing Accelerator Fund.

There also does not appear to be any relief for First Nations waiting to find out what is happening with the funds collected from them through the federal carbon tax. As the Chiefs of Ontario continue to advocate to the federal government, First Nations have not caused climate change, and it is unfair to expect them to pay the most to fix it.

The 2024 FES does not note any investments toward Indian Residential School supports for Survivors and families. This comes following the recent release of the Office of the Independent Special Interlocutor on Missing Children and Unmarked Graves and Burial Sites’ Final Report in October 2024. The Chiefs of Ontario remains strong in our advocacy and demands that Canada fully implements all the obligations laid out in the report, and that adequate funding is provided for First Nations’ healing journeys.

Other notable elements of the economic statement include:

• A $600-million top up to the Canada Greener Homes Loan Program, which provides 10-year interest-free loans of up to $40,000 to help people retrofit their homes. The program has “dedicated support to Indigenous partners to advance their energy efficiency priorities,” according to the statement.
• Over $100 million to support various women’s initiatives, including sexual and reproductive health funding and support to organizations working on ending gender-based violence.

-30-

The Chiefs of Ontario support all First Nations in Ontario as they assert their sovereignty, jurisdiction and their chosen expression of nationhood. Follow Chiefs of Ontario on Facebook, Twitter or Instagram @ChiefsOfOntario.

Media Contact:

Isak Vaillancourt
Communications Manager
Chiefs of Ontario
Mobile: 416-819-8184
Email: isak.vaillancourt@coo.org

Declan Keogh
Communications Officer
Chiefs of Ontario
Mobile: 416-522-4518
Email: declan.keogh@coo.org

IBF5