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<v Speaker 1>Thank you for listening to Pictures Media Radio. Welcome to

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<v Speaker 1>Policy and Rights Show US welcomer Policy, Human Joys.

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<v Speaker 2>I'm about to brief the Security Council on IT eighty.

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<v Speaker 2>THEU meditarian situation is appalling, but there are faint glimmers

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<v Speaker 2>of hope. I heard the Security Council and the international

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<v Speaker 2>community to step up for the people of eighty at

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<v Speaker 2>this pivotal time. I also want to say a word

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<v Speaker 2>about the unfolding tragedy that is Gaza. Unbelievablely, civilians are

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<v Speaker 2>facing yet another deadly escalation. Israel's initial steps to military

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<v Speaker 2>takeover Gaza City signals a new and dangerous face. Expanded

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<v Speaker 2>military operations in Gaza City will have devastating consequences. Hundreds

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<v Speaker 2>of thousands of civilians, already exhausted and traumatized, would be

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<v Speaker 2>forced to flee yet again, plunging families into even deeper peril.

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<v Speaker 3>These must stop.

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<v Speaker 2>At the same time, we have seen yet more unconscionable

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<v Speaker 2>Israeli strike, including earlier this week at NASE Hospital in Conunis.

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<v Speaker 2>One attack was followed by another, killing civilians, including medical

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<v Speaker 2>personnel and journalists who were carrying out their essential work.

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<v Speaker 3>All with the world watching.

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<v Speaker 2>I know so many of the reporters here along with us,

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<v Speaker 2>have lost their colleagues. These attacks are part of an

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<v Speaker 2>endless catalog of orrors. There must be accountability. Gaza is

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<v Speaker 2>piled with rappel, piled with bodies, and piled with examples

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<v Speaker 2>of what may be serious violations of international law. Ostriches

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<v Speaker 2>taken by a mass and other groups must be released,

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<v Speaker 2>and the atrocious treatment they have been forced to endure

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<v Speaker 2>must stop. Civilians must be protected, and let's be clear,

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<v Speaker 2>the levels of death and destruction in Gaza are without

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<v Speaker 2>parallel in recent times. Femine is no longer a looming possibility.

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<v Speaker 2>It's a present day catastrophe. People are dying from anger,

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<v Speaker 2>Families are being torn apart by displacement and despair. Pregnant

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<v Speaker 2>women are facing any imaginable risks, and the systems that's

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<v Speaker 2>the same life, food, water, else care have been systematically dismantled.

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<v Speaker 3>These are the facts.

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<v Speaker 2>On the ground, and they are the result of the

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<v Speaker 2>liberate decisions that defy basic humanity. Israel, as the occupying power,

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<v Speaker 2>as clear obligations it must ensure the provision of food, water,

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<v Speaker 2>medicine and other essentials. It must agree to and facilitate

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<v Speaker 2>far greatermlitarian excess. It must protect civilians and civilian infrastructure,

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<v Speaker 2>and it must end the destruction of that which is

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<v Speaker 2>indispensable for the survival of the civilian population. The International

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<v Speaker 2>Court of Justice has given binding provisional measures, and these

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<v Speaker 2>include the obligation to take all steps to ensure unfettered

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<v Speaker 2>humanitarian and medical assistance to Palestinians throughout Gaza, without delay

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<v Speaker 2>and in full cooperation with United Nations. These measures must

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<v Speaker 2>be implemented fully and immediately. The UN and our partners

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<v Speaker 2>are doing all we can, often at great personal risk. Indeed,

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<v Speaker 2>surrendered sixty six UN personnel have tragically been killed, day

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<v Speaker 2>after day. Our efforts are being blocked, delayed, and denied.

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<v Speaker 2>This is unacceptable. In West Bank, the situation is also

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<v Speaker 2>profoundly alarming. Military operations, settler violence, demolitions, and discriminatory policies

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<v Speaker 2>are driving displacement and deepening vulnerability. The relentless expansion of

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<v Speaker 2>settlements is fracturing communities and cutting off access to vital resources.

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<v Speaker 2>There isn't approval of a plan for the construction of

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<v Speaker 2>thousands of settlements in the EU area would effectively separate

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<v Speaker 2>the northern and southern West Bank an existential threat.

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<v Speaker 3>To the two state solutions.

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<v Speaker 2>I repeat the Israeli settlements in the occupied West Bank,

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<v Speaker 2>including East Jerusalem, have been established and are being maintained

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<v Speaker 2>in violation of international law. Israel must seize such actions

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<v Speaker 2>and comply with its obligations. There is no military solution

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<v Speaker 2>to the conflict. I appeal once again for an immediate

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<v Speaker 2>and permanencies fire and fattered meditarian access across Gaza and

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<v Speaker 2>the immediate and unconditional release.

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<v Speaker 3>Of all hostages.

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<v Speaker 2>Starvation of the civilian population must never be used as

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<v Speaker 2>a method of warfare. Civilians must be protected. The meditarian

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<v Speaker 2>access must be an impedance. No more excuses, no more obstacles,

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<v Speaker 2>no moral lies. Thank you, Thank you.

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<v Speaker 1>Welcome back to Policy and Writes here Depictions Media Radio.

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<v Speaker 1>I'm your host, Michael Kloggs. Announcement from the Canadian government.

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<v Speaker 1>The Federal government is improving access to cultural to culture

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<v Speaker 1>and ensuring that arts organizations can leverage the latest technology

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<v Speaker 1>to showcase talents, innovation and ideas that strengthen Canada today.

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<v Speaker 1>The Honorable which I'm recording this on August twenty eight,

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<v Speaker 1>twenty twenty five, The Honorable Stephen Colbert of the Canadian

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<v Speaker 1>Identity and Culture and Minister responsible for Official Languages, announced

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<v Speaker 1>an investment of eighty nine thousand dollars in the Creative

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<v Speaker 1>City Center following a tour of the new Cornwall Street

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<v Speaker 1>location where the innovations are underway. This funding, provided through

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<v Speaker 1>the Canada Cultural Spaces Fund, will be used for the

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<v Speaker 1>purchase and installation of special specialized equipment. This includes projectors,

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<v Speaker 1>screens and public access system, audio and recording equipment, a

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<v Speaker 1>hearing assistance system, and professional quality lighting, draping and staging.

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<v Speaker 1>These upgrades modernize the center's technical systems while also increasing

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<v Speaker 1>accessibility and enhancing the audience experience. The renovated building will

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<v Speaker 1>house an art gallery, performance video classrooms, artists in the

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<v Speaker 1>Residence studio, a recording and production studio. Other tenants will

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<v Speaker 1>include Articulate, Ink, First Nations Artists, Collective, common Wealth, Community

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<v Speaker 1>Arts and Saskatchewan Arts Alliance. This project is expected to

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<v Speaker 1>be completed in March of twenty twenty six. Wow, that's

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<v Speaker 1>pretty quick. Okay, So a couple quick facts about the

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<v Speaker 1>Creative City Center. It was originally established in two thousand

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<v Speaker 1>and eight, officially open in twenty eleven. Its mandate is

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<v Speaker 1>to provide affordable spaces and opportunities for artists to develop

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<v Speaker 1>and share their work. The Creative City Center presents one

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<v Speaker 1>hundred and fifty to two hundred events every year. These

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<v Speaker 1>include music concerts, visual arts exhibition, spoken word poetry, slams,

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<v Speaker 1>comedy nights, live drawing sessions, ELM screenings, and other workshops

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<v Speaker 1>and community events. The Canadian Cultural uh Spaces supports the

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<v Speaker 1>improvement of physical conditions for the arts, heritage and culture

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<v Speaker 1>and creative innovation. Innovation in addition to UH fund supports

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<v Speaker 1>renovation projects, the acquisition of specialized equipment, and planning, design

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<v Speaker 1>feasibility studies related to the arts and cultural spaces. So

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<v Speaker 1>it's really cool that the Canadian government is supporting all

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<v Speaker 1>types of arts. Arts and culture are especially what actually

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<v Speaker 1>tells the story throughout history to future generations about hey,

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<v Speaker 1>what is happening right now. It also allows us to

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<v Speaker 1>speak out and demonstrate ideas and injustices as well as

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<v Speaker 1>as justice, how the justice justice system in our society

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<v Speaker 1>actually works in actually celebrating those who do wonderful things.

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<v Speaker 1>All right, So let's move forward, and we're actually going

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<v Speaker 1>to hear from well Russia on Iran and as there

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<v Speaker 1>have been further complications into the Iranian nuclear program, and

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<v Speaker 1>as Russia puts it, Russian Russia states that Western states

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<v Speaker 1>are just simply trying to control the future of fuel

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<v Speaker 1>and energy and making it so that Iran cannot put

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<v Speaker 1>their own products out on the market because well, simply put,

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<v Speaker 1>the Iranian government doesn't always want to participate in the

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<v Speaker 1>ideas of the World Bank and capitalism as we know it.

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<v Speaker 1>So moving forward from there, we're gonna hear Antonio Guerrerez

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<v Speaker 1>as he's talking about escalation of hunger and suffering in Haiti.

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<v Speaker 1>He also will talk about Gaza and how Israel is

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<v Speaker 1>breaking international laws with with some of their occupation and settlements,

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<v Speaker 1>and how it needs to come to it in so

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<v Speaker 1>that a two state solution can be found. We've been

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<v Speaker 1>talking about this two state solution for quite some time,

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<v Speaker 1>and there are certain groups that in our world they

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<v Speaker 1>do not want to see a two states solution happen

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<v Speaker 1>between Israel and Palestine. They don't want to see Palestine

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<v Speaker 1>being to be seen as a sovereign territory, and they

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<v Speaker 1>want to deny the Palestinian people the right to the

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<v Speaker 1>land that their ancestors have always held claiming it for

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<v Speaker 1>them for themselves. In some respect, it isn't much more

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<v Speaker 1>than just colonialism happening all over again. Okay, and to Canada,

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<v Speaker 1>we're going to hear from Alberta as they're talking about

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<v Speaker 1>talking about fuel that there are some possible struggles and

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<v Speaker 1>things that happened with especially with how the United States

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<v Speaker 1>has been acting tariffs no taraff yo yo effects of

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<v Speaker 1>how the Canadian beachmen from the tarzans is to be handled, tariffed,

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<v Speaker 1>sold in other things. Simply put in my opinion is

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<v Speaker 1>that Alberta has to be allowed to find a new

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<v Speaker 1>customer because right now they have one, well really only

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<v Speaker 1>one customer, and that is the United States. They need

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<v Speaker 1>to find other viable solutions in order to sell their

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<v Speaker 1>products to the to the rest of the world, and

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<v Speaker 1>hopefully without building pipelines that actually destroy the environment. Which

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<v Speaker 1>that brings me to something that I found on social media.

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<v Speaker 1>And again, yes, I spend way too much time on

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<v Speaker 1>social media, but sometimes you come across these little tidbits

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<v Speaker 1>that really want to make you think. Somebody said that

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<v Speaker 1>for the sake of clean air, that all wood burning fireplaces,

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<v Speaker 1>wood stoves and things alike should be registered through the

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<v Speaker 1>government so that they well, the government knows who is

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<v Speaker 1>actually polluting the air, because the wood burning stoves, fireplaces

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<v Speaker 1>and barbecues are sources of pollution and should be gotten

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<v Speaker 1>rid of. Well, okay, the alternative, of course would be, well,

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<v Speaker 1>we have the one alternative, which is propane, which is

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<v Speaker 1>a oil based product and has to be dug out

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<v Speaker 1>of the ground the same as any other oil based thing.

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<v Speaker 1>Or going with electricity. And the answer back to the

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<v Speaker 1>electricity thing is, especially in British Columbia, well, there's an

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<v Speaker 1>overwhelming amount of electricity being used on the BC Hydro grid,

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<v Speaker 1>and so much so that BC Hydro found a way

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<v Speaker 1>to build a super dam. Well, the costs to the

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<v Speaker 1>environment for that super dam is tremendous. That superdam will

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<v Speaker 1>be coming online as it has been mostly completed. But

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<v Speaker 1>the thing about it is the plant life that was destroyed,

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<v Speaker 1>the animal life that now has to find a new

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<v Speaker 1>ecosystem in order to live. In the diversion of fish,

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<v Speaker 1>the destruction of water born species that in other animals

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<v Speaker 1>that depended on the river that the dam was built

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<v Speaker 1>to survive is there now in jeopardy. The trees that

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<v Speaker 1>were cut down are carbon sinks. They suck up the

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<v Speaker 1>carbon that is being put into the air. The wood

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<v Speaker 1>burning stoves and the wood burning fireplaces and barbecues would

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<v Speaker 1>put out that these trees would actually sink that carbon

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<v Speaker 1>back into the ground, but they were they were cut

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<v Speaker 1>down and destroyed. Their lives were ended there, and thus

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<v Speaker 1>we don't have the trees to do the job they

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<v Speaker 1>were supposed to do. So what is the real benefit

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<v Speaker 1>of making everything go electric? Thus the electric heating and

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<v Speaker 1>the electric cars. Now, granted, the the the gas burning

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<v Speaker 1>car is there. There is no difference between the electric

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<v Speaker 1>car and the gas car as far as carbon footprint

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<v Speaker 1>is concerned. But the continuation of tearing down ecosystems that

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<v Speaker 1>that are rich in carbon sinks doesn't make sense. So

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<v Speaker 1>we need to find ways to power up fuel what

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<v Speaker 1>have you, without with doing minimal damage to our environment

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<v Speaker 1>so that all life on our planet can survive. Okay,

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<v Speaker 1>So in one uh, one last item, they we'll hear

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<v Speaker 1>from the Canadian Minister of Energy as he talks about

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<v Speaker 1>he's speaking from Germany, as he's talking about fast track

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<v Speaker 1>projects to actually help fuel Europe, and of course the

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<v Speaker 1>pipelines are one of those fast tracked ideas. For projects

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<v Speaker 1>to get the Alberta tar sans beechamen to Europe for

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<v Speaker 1>refining and for them to use it as fuel, because

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<v Speaker 1>as we know that Germany was hit hard in other

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<v Speaker 1>and they're just one of the countries that was hit

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<v Speaker 1>hard in Europe by the cut off of oil based

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<v Speaker 1>products from Russia. The EU is struggling with fuel needs

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<v Speaker 1>and fuel supplies to operate their society. So they're turning

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<v Speaker 1>towards Canada to take up the slack. So why don't

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<v Speaker 1>we get started, And we already listened to some of

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<v Speaker 1>Antonio Guerrera said, so why don't we listen to the

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<v Speaker 1>rest of what he had to say at the UN

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<v Speaker 1>Security Council as he spoke about what is happening in Haiti.

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<v Speaker 4>Senior President President, I would like to thank Panama for

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<v Speaker 4>convening this briefing on the humanitarian and child protection situation

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<v Speaker 4>in Haiti, Your excellencies, the people of Haiti are in

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<v Speaker 4>a perfect storm of suffering. State authority is crumbling as

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<v Speaker 4>gang violence in gulfs portou Prince and spreads beyond paralyzing

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<v Speaker 4>daily life and forcing families to flee. Civilians are under

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<v Speaker 4>siege with appalling reports of rape and sexual violence. Hospitals

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<v Speaker 4>and schools are under repeated attack. The rule of law

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<v Speaker 4>has collapsed. The humanitarian toll is staggering. One point three

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<v Speaker 4>million people, half of them children, have fled their homes.

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<v Speaker 4>Six million people need humanitarian assistance. Haiti is now among

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<v Speaker 4>the five global hunger hotspots of highest concern. Aid workers,

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<v Speaker 4>especially local responders, are being targeted, facing threats of violence,

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<v Speaker 4>extortion and kidnapping. Let me be clear, all parties must

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<v Speaker 4>respect international humanitarian law. Humanitarian personnel, asse and facilities must

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<v Speaker 4>be protected. Despite the danger, humanitarians remain on the ground

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<v Speaker 4>delivering food, water, medicine and shelter. In the first quarter

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<v Speaker 4>of this year alone, they reached one point three million people.

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<v Speaker 4>Yet Haiti remains shamefully overlooked and wofully underfunded. For twenty

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<v Speaker 4>twenty five, we require nine hundred eight million dollars to

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<v Speaker 4>support three point nine million people, but less than ten

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<v Speaker 4>percent of that has been received, making Haiti the least

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<v Speaker 4>funded humanitarian appeal in the world. As a result, over

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<v Speaker 4>one point seven million people risk receiving no assistance at all.

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<v Speaker 4>This is not a funding gap, it is a life

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<v Speaker 4>and death emergency. I urge all turners to act before

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<v Speaker 4>life saving operations coined to a halt.

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<v Speaker 2>Excellencies, children are bearing the brunt of these crisis. In

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<v Speaker 2>my annual report on Children Are in Conflict, it ranked

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<v Speaker 2>among the top five countries for grave violations against children

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<v Speaker 2>in twenty twenty four. Children are being abducted and killed,

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<v Speaker 2>recruited and used, and subjected to orific sexual violence, including

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<v Speaker 2>gang rape. These are crimes that scare bodies, minds, and futures.

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<v Speaker 2>The United Nations verified two thousand, two hundred and sixty

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<v Speaker 2>nine grave violations against t thousands, three hundred seventy three

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<v Speaker 2>children last year and nearly fivefold increase from the year before.

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<v Speaker 2>This includes two hundred and thirteen children killed when ender

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<v Speaker 2>thirty eight MA and three hundred and two children recruited

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<v Speaker 2>and used.

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<v Speaker 3>We also verified five.

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<v Speaker 2>Hundred sixty six cases of sexual violence against miners, including

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<v Speaker 2>one one hundred and sixty cases of gang rape, and

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<v Speaker 2>the scoring how such crimes are used as a weapon

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<v Speaker 2>of terror and control. Basic services have collapsed. Mass displacement

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<v Speaker 2>has left children without education, else care or safety. As

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<v Speaker 2>a vapul gang violence have interrupted the schooling of two

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<v Speaker 2>hundred forty three thousand students. We verified when added, fifty

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<v Speaker 2>four abductions when added, fifty four attacks on schools and hospitals,

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<v Speaker 2>and seven hundred twenty eight incidents of denial of humanitarian access.

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<v Speaker 2>The twenty twenty four Handover Protocol between the United Nations

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<v Speaker 2>and the Government of at is an important step toward

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<v Speaker 2>protecting children detained for a large association with armed groups,

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<v Speaker 2>but implementation remains uneven. Conditions that SERMI call the Integration

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<v Speaker 2>Center for miners in conflict with the law are deeply troubling.

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<v Speaker 2>I'm also alarmed by the rise of so called community

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<v Speaker 2>self defense groups, some aligned with police forces implicated in

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<v Speaker 2>grave violations, including summary execution of children. I urge all

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<v Speaker 2>authorities to implement the and Over Protocol nationwide and the

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<v Speaker 2>dictation of children for a large association with armed groups,

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<v Speaker 2>ensure access to specialized services, including for survivors of sexual violence,

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<v Speaker 2>and guarantee accountability for all perpetrators. I call on this

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<v Speaker 2>Council to prioritize the protection of children extencies. The political

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<v Speaker 2>situation remains fragile, but there are emerging signals of hope.

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<v Speaker 3>I am encouraged by.

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<v Speaker 2>Growing corporate between the President, the Transitional Council, LA Hansin

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<v Speaker 2>Sir and the Prime Minister aliks dd FME, who are

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<v Speaker 2>both leading consultations to move the political process forward. We

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<v Speaker 2>are also seeing closer coordination between the Prime Minister Task Force,

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<v Speaker 2>the Asian National Police and the Multinational Security Support Mission

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<v Speaker 2>improving operations on the ground. These fragile gains must be

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<v Speaker 2>protected and expanded. That requires decisive and coordinated international security

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<v Speaker 2>support to strengthsen national efforts, protect the population and create

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<v Speaker 2>conditions for a return to the rule of law and

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<v Speaker 2>credible inclusive elections. I welcome efforts by members of this

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<v Speaker 2>Council to advance my twenty four February proposal to strengthen

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<v Speaker 2>the Multinational Security Support Mission through even logistic and operational support.

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<v Speaker 3>I urge the.

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<v Speaker 2>Council to act with other delay and authorize an international

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<v Speaker 2>force supported by the Unitied Nations ZOLO, logistical and operational

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<v Speaker 2>backing and predictable financing. Voluntary contributions to the MSS Trust

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<v Speaker 2>Fund remain essential, but assessed support would ensure impact and sustainability.

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<v Speaker 2>Security measures must go and in hand with increased pressure

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<v Speaker 2>on those fueling the violence. This includes an effective arms

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<v Speaker 2>embargo as well as a target expansion of sanctions against

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<v Speaker 2>gang leaders, financiers, arm traffickers.

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<v Speaker 3>And others connected to them.

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<v Speaker 2>These steps are vital to cut off the weapons and

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<v Speaker 2>money that sustain chaos. Enforcement at ports, borders and online

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<v Speaker 2>must be strengthened in close coordination with regional partners. My

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<v Speaker 2>Special Representative Carlos Ruige Mossieu is in Porto Prance working

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<v Speaker 2>with national Internet national partners to build consensus at this

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<v Speaker 2>pivotal moment. BIRINU will continue to support an inclusive political

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<v Speaker 2>process and work closely with the Asian National Police, the

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<v Speaker 2>MSS and donors to ensure coherence coordinated assistance. I urge

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<v Speaker 2>all national stakeholders to seize this moment and sustain the

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<v Speaker 2>spirit of cooperation. Excellencies, With unity inside the country and

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<v Speaker 2>resolve from this council, the ancient people can emerge from

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<v Speaker 2>the perfect storm, begin to turn hardship into hope and

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<v Speaker 2>reclaim their future. I reaffirm my we neighboring solidarity and

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<v Speaker 2>the determination of United Nations to stand side by side

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<v Speaker 2>with the people of eighty for peace, dignity and security.

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<v Speaker 3>And I thank you.

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<v Speaker 5>Aco so Di Acollegues, thank you very much for responding

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<v Speaker 5>to our call. I want to make an important announcement

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<v Speaker 5>About an hour ago Russia and China put into blue

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<v Speaker 5>draft Security Council resolution. It's very short, so I will

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<v Speaker 5>read it aloud. I think you will bear with me.

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<v Speaker 5>The Security Council, recalling its Resolution twenty two thirty one,

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<v Speaker 5>twenty fifteen, acknowledging the importance of finding a negotiated diplomatic

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<v Speaker 5>solution to the issues related to Resolution twenty two thirty

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<v Speaker 5>one twenty fifteen. Recognizing the necessity of allowing additional time

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<v Speaker 5>for negotiations on this matter, PERA one decides to technically

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<v Speaker 5>extend for six months till eighteen April twenty twenty six,

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<v Speaker 5>the ten year term after the Joint Comprehensive Plan of

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<v Speaker 5>Action jcpoa adoption day indicated in the Resolution twenty two

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<v Speaker 5>thirty one, twenty fifteen and its annexes, with a possibility

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<v Speaker 5>for a further extension too, urges all initial participants of

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<v Speaker 5>the JCPOE to immediately resume negotiations on the matters related

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<v Speaker 5>to the Resolution twenty two thirty one and the JCPOI

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<v Speaker 5>that's it.

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<v Speaker 6>It's a very short text.

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<v Speaker 5>I think it's absolutely clear, self explanatory. Unlike many other

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<v Speaker 5>Security Council resolutions, and I will make some additional comments.

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<v Speaker 5>So now the world is at crossroads. It's quite clear.

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<v Speaker 5>One option is peace, diplomacy, goodwill, normal human contact. Another

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<v Speaker 5>option is kind of diplomacy at the barrel of the gun,

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<v Speaker 5>hence extortion and blackmail all other things. The second option

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<v Speaker 5>is clearly represented by the action that was triggered today

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<v Speaker 5>by France, Yuki and Germany. You all know that they

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<v Speaker 5>circulated a letter triggering so called snapback. I will not

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<v Speaker 5>explain you this procedure in detail. I think everybody who

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<v Speaker 5>is knowledgeable of this fact doesn't have such a necessity.

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<v Speaker 5>But I will say that this move by European countries,

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<v Speaker 5>in our view, has absolutely no legal bearing because they

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<v Speaker 5>were not implementing Resolution twenty two thirty one in good faith.

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<v Speaker 5>For example, they did nothing in terms of in terms

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<v Speaker 5>of lifting sanctions against Iran during the so called Transition

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<v Speaker 5>Day two years ago. They are acting absolutely in breach

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<v Speaker 5>of JCPOE in each and every sense and letter and

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<v Speaker 5>spirit of this document. They have not exhausted the mechanisms

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<v Speaker 5>foreseen by JCPOE first and foremost dispute resolution mechanism. So

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<v Speaker 5>we do not think that this move by these three

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<v Speaker 5>countries should entail any action from the Council. This is

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<v Speaker 5>our very strong and principled conviction. Of course, it will

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<v Speaker 5>affect the overall climate.

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<v Speaker 7>Over the.

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<v Speaker 5>Issues related to Iranian nuclear program. It will complicate international

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<v Speaker 5>cooperation in this regard. So we think that the option

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<v Speaker 5>that proposed Russia and China today is a way that

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<v Speaker 5>everybody should follow in order to avoid complications, in order

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<v Speaker 5>to avoid problems, serious problems for international peace and security,

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<v Speaker 5>in order to give some chance and breathing space for diplomacy.

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<v Speaker 5>So once again we believe that the move by E

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<v Speaker 5>three cannot and should not entail any legal or procedural effect.

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<v Speaker 5>A mirror is collatory step. It's something that is absolutely

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<v Speaker 5>showing that the Western countries do not know what is

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<v Speaker 5>diplomacy about. They don't care about diplomacy. They care only

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<v Speaker 5>about blackmail and threats and coercion of independent countries. Not yet,

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<v Speaker 5>we are thinking about it. You know that when resolution

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<v Speaker 5>is put into blue, the vote can be requested at

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<v Speaker 5>any moment, and that is something that we are now

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<v Speaker 5>thinking about with our partners, and the countries that support

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<v Speaker 5>us are much more numerous than simply Russia and China.

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<v Speaker 8>Yeah, mister ambassador, if you really believe that these countries

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<v Speaker 8>who started this snapback process are just interested in making problems,

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<v Speaker 8>and so what hope do you hold for your resolution

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<v Speaker 8>draft resolution to pass in the Security Council? And do

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<v Speaker 8>you I really believe that in six months all these

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<v Speaker 8>problems with Iran and their violations of the j c

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<v Speaker 8>p o A will be solved.

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<v Speaker 5>We believe in common sense, We believe in diplomacy, We

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<v Speaker 5>believe in the fact that many countries understand what can

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<v Speaker 5>follow if this situation is going to the spiral of

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<v Speaker 5>violence and further breach of international law. I also need

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<v Speaker 5>to remind you about the context where this whole is happening.

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<v Speaker 5>The IA repeatedly failed to notice any threats, for in

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<v Speaker 5>terms of nuclear reliferation from Iranian nuclear program. So regardless

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<v Speaker 5>of what Iran this is interpreting, this is interpretation. And

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<v Speaker 5>we all know that the measures that were taken by

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<v Speaker 5>Iran in terms of uranium in Richmond, they were taken

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<v Speaker 5>in response to the US withdrawal from JCPOA, and these

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00:36:13.400 --> 00:36:16.400
<v Speaker 5>measures can easily be reviewed. So Iran it was always

390
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<v Speaker 5>open to diplomatic solution of this issue. United States abandoned

391
00:36:20.920 --> 00:36:24.559
<v Speaker 5>JCPOA and since then the situation started deteriorate, So we

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<v Speaker 5>should not confuse the real source of the problem that

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<v Speaker 5>happened in twenty eighteen. Also, we shouldn't forget about the

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<v Speaker 5>context of absolutely unlawful strikes that were conducted against Islamic

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<v Speaker 5>Republic of Iran in June by Israel and then by

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<v Speaker 5>the United States, including against the objects that are placed

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<v Speaker 5>under the JCPOA safeguards. So this was and this still

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<v Speaker 5>is a serious breach of international law, and we cannot

399
00:36:55.199 --> 00:36:58.719
<v Speaker 5>ignore these context. So these countries that want to follow

400
00:36:59.159 --> 00:37:04.239
<v Speaker 5>further on the parts of escalation, they continue breaching international law.

401
00:37:04.719 --> 00:37:07.480
<v Speaker 5>Maybe they still believe in the so called rules based

402
00:37:07.519 --> 00:37:10.679
<v Speaker 5>international order, but in their action they show that this

403
00:37:10.880 --> 00:37:14.119
<v Speaker 5>international order has nothing to do with international law. This

404
00:37:14.159 --> 00:37:17.239
<v Speaker 5>is very obvious. So we believe in common sense, we

405
00:37:17.280 --> 00:37:20.960
<v Speaker 5>believe in peace, we believe in diplomacy, and the option

406
00:37:21.079 --> 00:37:23.159
<v Speaker 5>that thrush Is Shina is now providing for the whole

407
00:37:23.199 --> 00:37:29.599
<v Speaker 5>world should lead us to this aim without further problems.

408
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<v Speaker 3>Is it.

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<v Speaker 7>Do you think it's consistent with.

410
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<v Speaker 9>Your argument, sorry, with your argument that this is not

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00:37:36.079 --> 00:37:38.519
<v Speaker 9>a legal move. If it's not legal, why are you

412
00:37:38.559 --> 00:37:42.559
<v Speaker 9>trying to extend it? Is there inherent sort of clash there.

413
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<v Speaker 9>If you don't think they're not member of j CPO

414
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<v Speaker 9>anymore the E three and they have no legal basis

415
00:37:48.400 --> 00:37:52.800
<v Speaker 9>to even trigger a snapback, So why are you extending it?

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<v Speaker 7>Can you simply say that.

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<v Speaker 3>May make no mistake.

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<v Speaker 5>Our move is not linked to snapback, it's just coincided.

419
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<v Speaker 5>We launched the work on this resolution a long time ago,

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<v Speaker 5>before the even the intention of these three countries to

421
00:38:09.639 --> 00:38:14.599
<v Speaker 5>launch to launch snapback. First second, if you were listening

422
00:38:14.599 --> 00:38:18.320
<v Speaker 5>to me attentively, I quoted para two of our resolution

423
00:38:18.480 --> 00:38:22.079
<v Speaker 5>where we call for initial participants in the JCPO. It

424
00:38:22.159 --> 00:38:26.199
<v Speaker 5>means that this implies that now, of course, several certain

425
00:38:26.199 --> 00:38:29.239
<v Speaker 5>countries cannot be considered to be members of the h JCPOE,

426
00:38:29.400 --> 00:38:32.840
<v Speaker 5>for example the United States. I haven't heard about these

427
00:38:33.320 --> 00:38:37.880
<v Speaker 5>three countries leaving JCPO, but by their actions, they already

428
00:38:37.880 --> 00:38:42.559
<v Speaker 5>put themselves outside of the legal framework of this of

429
00:38:42.639 --> 00:38:43.719
<v Speaker 5>this document.

430
00:38:44.239 --> 00:38:44.880
<v Speaker 7>This is true.

431
00:38:44.920 --> 00:38:48.239
<v Speaker 5>So thequal is for the initial participants in the JCPO

432
00:38:48.239 --> 00:38:51.199
<v Speaker 5>A to come back to where we started and to

433
00:38:51.280 --> 00:38:53.039
<v Speaker 5>find a solution to this issue.

434
00:38:53.760 --> 00:38:57.119
<v Speaker 10>It goes through and they veto your resolution. To you,

435
00:38:57.320 --> 00:39:01.039
<v Speaker 10>does Russia find itself obligated to the previous sanctions. Do

436
00:39:01.360 --> 00:39:04.199
<v Speaker 10>you think that it's legal those those previous sanctions will

437
00:39:04.239 --> 00:39:05.199
<v Speaker 10>hold water?

438
00:39:05.639 --> 00:39:06.840
<v Speaker 7>Are you going to implement them?

439
00:39:06.880 --> 00:39:10.840
<v Speaker 5>Or This question has no legal bearing because their move

440
00:39:10.880 --> 00:39:13.760
<v Speaker 5>is legally null and voids and we are not in

441
00:39:13.880 --> 00:39:16.280
<v Speaker 5>hypothetics so far because we haven't yet called for the

442
00:39:16.360 --> 00:39:19.519
<v Speaker 5>vote and we don't know what will follow them. We

443
00:39:19.599 --> 00:39:23.000
<v Speaker 5>hope that the common sense will prevail even with these

444
00:39:23.000 --> 00:39:26.559
<v Speaker 5>three countries that have already made this absolutely illegal move.

445
00:39:26.920 --> 00:39:28.639
<v Speaker 5>But we are not bound by this move in any

446
00:39:28.639 --> 00:39:29.679
<v Speaker 5>way in the security counts.

447
00:39:31.760 --> 00:39:33.039
<v Speaker 7>I love so.

448
00:39:35.000 --> 00:39:37.920
<v Speaker 11>So yes, so I think I'm so many with you

449
00:39:37.960 --> 00:39:40.159
<v Speaker 11>from killed on News. I have yeah, okay, one question

450
00:39:40.280 --> 00:39:44.199
<v Speaker 11>about to make sure the relationship between snapback and your

451
00:39:44.320 --> 00:39:50.039
<v Speaker 11>draft resolution. So if the draft resolution is adopted, will

452
00:39:50.280 --> 00:39:54.400
<v Speaker 11>subtle the rifle snap also be stopped and extended.

453
00:39:54.800 --> 00:39:58.000
<v Speaker 5>We call for the for the extension of the provisions

454
00:39:58.000 --> 00:39:59.880
<v Speaker 5>of twenty two thirty one. It means, of course, the

455
00:40:00.519 --> 00:40:04.280
<v Speaker 5>any action, any considerable action within the framework of twenty

456
00:40:04.360 --> 00:40:08.400
<v Speaker 5>to thirty one will also be suspended and prolonged to

457
00:40:08.440 --> 00:40:11.400
<v Speaker 5>the next stage. But again, don't forget that we do

458
00:40:11.440 --> 00:40:16.679
<v Speaker 5>not acknowledge the legal grounds behind this snapback, So for us,

459
00:40:16.719 --> 00:40:19.480
<v Speaker 5>nothing happened. What we're speaking about is the extension of

460
00:40:19.679 --> 00:40:21.360
<v Speaker 5>twenty thirty one as such.

461
00:40:23.239 --> 00:40:26.159
<v Speaker 4>About the snapback, our reaction.

462
00:40:27.039 --> 00:40:30.039
<v Speaker 5>Disappointment, of course, because we believe that we are dealing

463
00:40:30.119 --> 00:40:33.000
<v Speaker 5>with serious people with serious intention, and it looks like

464
00:40:33.079 --> 00:40:35.960
<v Speaker 5>that we're dealing with some kind of I don't know, gangsters.

465
00:40:36.000 --> 00:40:37.440
<v Speaker 5>So that's it.

466
00:40:38.320 --> 00:40:43.440
<v Speaker 12>Just to clarify, if snapback happened in thirty days, Russia

467
00:40:43.519 --> 00:40:45.480
<v Speaker 12>will not implement the UN sanctions.

468
00:40:46.000 --> 00:40:49.760
<v Speaker 5>Snapback has not happened. It was not launched thirty days.

469
00:40:49.800 --> 00:40:52.679
<v Speaker 5>If this process comes to a conclusion, how can it

470
00:40:52.719 --> 00:40:57.920
<v Speaker 5>come to a conclusion if it has not started. Be

471
00:40:58.039 --> 00:41:00.199
<v Speaker 5>consistent in your precise.

472
00:41:00.000 --> 00:41:04.440
<v Speaker 3>Options implement UN sanctions on a run.

473
00:41:04.360 --> 00:41:08.519
<v Speaker 5>Again and they are not being introduced. If they are,

474
00:41:09.320 --> 00:41:12.000
<v Speaker 5>how can they be introduced If the snapback that is

475
00:41:12.039 --> 00:41:13.400
<v Speaker 5>being launch light right now.

476
00:41:13.280 --> 00:41:14.880
<v Speaker 3>Is illegal, Well that's Europe.

477
00:41:15.239 --> 00:41:18.119
<v Speaker 5>I don't I don't see I don't see any consistency

478
00:41:18.119 --> 00:41:22.800
<v Speaker 5>in your in your question, so biologically, sorry, why I

479
00:41:22.800 --> 00:41:23.239
<v Speaker 5>can't hear?

480
00:41:23.559 --> 00:41:24.880
<v Speaker 8>Why do you call it illegal?

481
00:41:25.360 --> 00:41:28.440
<v Speaker 5>I explained to you because these countries were breaching j cpie,

482
00:41:28.639 --> 00:41:33.800
<v Speaker 5>they were not observing the provisions of JCP and they

483
00:41:33.920 --> 00:41:37.159
<v Speaker 5>have not exhausted the mechanisms that are provided by j

484
00:41:37.280 --> 00:41:41.880
<v Speaker 5>CPE first of all the DRC. So that's why they

485
00:41:41.920 --> 00:41:46.119
<v Speaker 5>don't have any any reasons to appeal to this document

486
00:41:46.159 --> 00:41:49.400
<v Speaker 5>because they were not implementing it, not in good face,

487
00:41:49.519 --> 00:41:52.880
<v Speaker 5>not technically in any way. I think that's what international

488
00:41:53.239 --> 00:41:58.440
<v Speaker 5>law prescribes to us. If it's about rules based international order.

489
00:41:58.480 --> 00:42:01.280
<v Speaker 5>If they leave in this paradigm, it's up to them.

490
00:42:01.320 --> 00:42:03.519
<v Speaker 5>But we live within the paradigm of international law.

491
00:42:04.199 --> 00:42:06.559
<v Speaker 13>So do you have any comments about the timing of

492
00:42:06.599 --> 00:42:09.880
<v Speaker 13>the E three doing this right now one month before

493
00:42:10.199 --> 00:42:14.280
<v Speaker 13>High Level Week and before the Russian Federation as the

494
00:42:14.320 --> 00:42:16.880
<v Speaker 13>presidency of the Council in October? Do you have any

495
00:42:16.880 --> 00:42:18.440
<v Speaker 13>comments about the timing of this row?

496
00:42:19.159 --> 00:42:22.320
<v Speaker 5>I didn't think about, frankly, because we do not consider

497
00:42:22.360 --> 00:42:25.960
<v Speaker 5>it as a legal move, so timing is very secondary

498
00:42:26.000 --> 00:42:30.800
<v Speaker 5>in this regard. Any more questions question?

499
00:42:30.880 --> 00:42:31.679
<v Speaker 3>Okay, thank you.

500
00:42:32.280 --> 00:42:34.800
<v Speaker 11>So it's it possible Russia can bring a new drug

501
00:42:34.880 --> 00:42:38.159
<v Speaker 11>resolution to Security Council in order to like lift this

502
00:42:38.280 --> 00:42:39.360
<v Speaker 11>lab back.

503
00:42:40.719 --> 00:42:44.920
<v Speaker 5>We've just presented a resolution. Yeah, you were a little

504
00:42:44.920 --> 00:42:48.360
<v Speaker 5>bit late, but we can write it after them. Okay,

505
00:42:48.760 --> 00:42:49.480
<v Speaker 5>everything is clear.

506
00:42:49.960 --> 00:42:53.159
<v Speaker 13>Do you think would you would you would you request

507
00:42:53.159 --> 00:42:55.280
<v Speaker 13>a meeting even this weekend for this or what's the

508
00:42:55.400 --> 00:42:57.360
<v Speaker 13>urgency that I know? It's to the president.

509
00:42:57.400 --> 00:42:59.559
<v Speaker 5>I heard that there is some kind of request for

510
00:42:59.599 --> 00:43:04.480
<v Speaker 5>consultations for tomorrow, but I have no confirmation. So of

511
00:43:04.519 --> 00:43:07.800
<v Speaker 5>course the Council will discuss this issue for sure. But

512
00:43:07.920 --> 00:43:10.159
<v Speaker 5>I think that to our position is clear right now. Yes,

513
00:43:10.679 --> 00:43:11.320
<v Speaker 5>thank you very much.

514
00:43:11.679 --> 00:43:15.280
<v Speaker 8>There no vote to sorry, no vote tomorrow on your

515
00:43:15.360 --> 00:43:16.119
<v Speaker 8>doctor resolution.

516
00:43:16.519 --> 00:43:17.599
<v Speaker 7>It may happen, I don't know.

517
00:43:18.119 --> 00:43:20.159
<v Speaker 5>Still, every option is on the table.

518
00:43:21.360 --> 00:43:33.119
<v Speaker 14>Thank you, thank you. Good morning everyone.

519
00:43:33.360 --> 00:43:36.280
<v Speaker 15>Today I'm pleased to present the government Alberta's twenty twenty

520
00:43:36.280 --> 00:43:39.159
<v Speaker 15>five twenty twenty six first quarter fiscal.

521
00:43:38.880 --> 00:43:40.400
<v Speaker 6>Update and economic statement.

522
00:43:41.119 --> 00:43:43.639
<v Speaker 15>It's clear twenty twenty five has brought a share of

523
00:43:43.719 --> 00:43:46.800
<v Speaker 15>challenges for everyone. Our provincial neighbors to the east are

524
00:43:46.840 --> 00:43:52.760
<v Speaker 15>projecting larger than expected deficits, and they're not alone. Geopolitical uncertainty, inflation,

525
00:43:53.000 --> 00:43:57.199
<v Speaker 15>and unstable oil prices continue to impact Alberta's fiscal position.

526
00:43:57.800 --> 00:44:01.039
<v Speaker 15>We're experiencing many pressures on the economy that are outside

527
00:44:01.039 --> 00:44:03.840
<v Speaker 15>of our control. The price of oil has been up

528
00:44:03.960 --> 00:44:07.199
<v Speaker 15>and down this calendar year alone. We've seen oil prices

529
00:44:07.239 --> 00:44:10.119
<v Speaker 15>fall as low as fifty seven dollars US per barrel

530
00:44:10.119 --> 00:44:13.360
<v Speaker 15>and reach as high as eighty dollars. This volatility, in

531
00:44:13.400 --> 00:44:17.039
<v Speaker 15>conjunction with the ongoing trade conflict with our largest trading partner,

532
00:44:17.400 --> 00:44:21.920
<v Speaker 15>has significantly affected our revenue. As a result of this volatility,

533
00:44:21.960 --> 00:44:25.320
<v Speaker 15>we are now forecasting a six point five billion dollar deficit,

534
00:44:26.000 --> 00:44:29.400
<v Speaker 15>our first deficit in five years. That's one point three

535
00:44:29.440 --> 00:44:32.519
<v Speaker 15>billion more than what we projected when we release budget

536
00:44:32.559 --> 00:44:34.360
<v Speaker 15>twenty twenty five in February.

537
00:44:35.000 --> 00:44:35.519
<v Speaker 6>I want to.

538
00:44:35.440 --> 00:44:37.719
<v Speaker 15>Acknowledge that this is a big shift from the eight

539
00:44:37.719 --> 00:44:40.280
<v Speaker 15>point three billion dollar surplus we had at the end

540
00:44:40.280 --> 00:44:44.000
<v Speaker 15>of March just five months ago. We know how important

541
00:44:44.039 --> 00:44:47.000
<v Speaker 15>stability is for el Burtons, and we also know it

542
00:44:47.039 --> 00:44:50.760
<v Speaker 15>hasn't been easy. Many Oburtons are struggling with high grocery bills,

543
00:44:50.840 --> 00:44:53.960
<v Speaker 15>utilities and the pressure of mortgage or rent payments.

544
00:44:54.360 --> 00:44:54.920
<v Speaker 14>And as we.

545
00:44:55.000 --> 00:44:58.800
<v Speaker 15>Promised at budget, we'll face these challenges together, and that

546
00:44:58.840 --> 00:45:03.400
<v Speaker 15>commitment stands even with a higher deficit. We'll tackle these

547
00:45:03.480 --> 00:45:07.039
<v Speaker 15>challenges head on, making responsible choices to deliver on the

548
00:45:07.039 --> 00:45:11.000
<v Speaker 15>priorities that matter most twelve burdens. That's why careful fiscal

549
00:45:11.039 --> 00:45:14.559
<v Speaker 15>management matters, so we can keep delivering the quality programs

550
00:45:14.559 --> 00:45:17.760
<v Speaker 15>and services Alberton's count on today and in the future.

551
00:45:19.199 --> 00:45:23.960
<v Speaker 15>Despite ongoing challenges, Alberta's economy remains resilient and is expected

552
00:45:24.000 --> 00:45:27.320
<v Speaker 15>to outperform the rest of Canada. We are facing less

553
00:45:27.320 --> 00:45:30.760
<v Speaker 15>severe US tariffs on our goods than we initially anticipated

554
00:45:30.760 --> 00:45:34.119
<v Speaker 15>a budget. Nearly ninety percent of our top export to

555
00:45:34.119 --> 00:45:38.000
<v Speaker 15>the United States energy is protected under the Canada United

556
00:45:38.000 --> 00:45:42.519
<v Speaker 15>States Mexico Agreement that means it's exempt from tariffs. Drilling

557
00:45:42.559 --> 00:45:45.920
<v Speaker 15>activity is up along with our oil export volumes due

558
00:45:45.920 --> 00:45:49.880
<v Speaker 15>to the added flow capacity from the TMX pipeline. Consumer

559
00:45:49.920 --> 00:45:54.760
<v Speaker 15>spending is outperforming expectations with easing inflation and a resilient

560
00:45:54.840 --> 00:45:58.360
<v Speaker 15>job market. In the first half of the year housing starts,

561
00:45:58.400 --> 00:46:02.480
<v Speaker 15>we're up thirty two percent. Alberta's population is projected to

562
00:46:02.519 --> 00:46:05.480
<v Speaker 15>grow in twenty twenty five by two point four percent,

563
00:46:06.079 --> 00:46:08.840
<v Speaker 15>a more reasonable rate compared to the four point four

564
00:46:08.880 --> 00:46:13.360
<v Speaker 15>percent record surge we experienced in twenty twenty four. We

565
00:46:13.400 --> 00:46:16.840
<v Speaker 15>also revised our GDP projections up from budget to two

566
00:46:16.920 --> 00:46:20.079
<v Speaker 15>percent and expect to lead the country in twenty twenty five.

567
00:46:20.840 --> 00:46:24.599
<v Speaker 15>While we have many positive milestones to celebrate, Alberta still

568
00:46:24.639 --> 00:46:29.920
<v Speaker 15>faces some significant pressures. Unemployment is expected to remain high

569
00:46:30.440 --> 00:46:33.800
<v Speaker 15>and even with lower tariff rates. Tariffs have slowed global

570
00:46:33.800 --> 00:46:38.320
<v Speaker 15>economic growth and made investors think twice about expanding internationally.

571
00:46:39.360 --> 00:46:40.119
<v Speaker 14>So what does this.

572
00:46:40.079 --> 00:46:41.800
<v Speaker 6>Mean for our bottom line?

573
00:46:42.000 --> 00:46:45.119
<v Speaker 15>Revenue for twenty twenty five twenty twenty six is forecast

574
00:46:45.199 --> 00:46:48.360
<v Speaker 15>at seventy three billion, down one point two billion from

575
00:46:48.400 --> 00:46:51.800
<v Speaker 15>the budget. Expense for twenty twenty five twenty twenty six

576
00:46:52.199 --> 00:46:55.599
<v Speaker 15>is forecast at seventy nine point four billion, up one

577
00:46:55.639 --> 00:46:59.440
<v Speaker 15>hundred million from budget. This means Alberta's deficit is now

578
00:46:59.480 --> 00:47:02.840
<v Speaker 15>six point five five, a one point three billion dollar

579
00:47:02.920 --> 00:47:07.079
<v Speaker 15>increase from what was first projected. This is largely due

580
00:47:07.119 --> 00:47:10.559
<v Speaker 15>to falling revenues from non renewable resources down one point

581
00:47:10.599 --> 00:47:13.199
<v Speaker 15>four billion, or an eight percent drop from budget.

582
00:47:13.960 --> 00:47:15.280
<v Speaker 6>Low oil prices.

583
00:47:14.880 --> 00:47:18.320
<v Speaker 15>Have driven down royalties, and a stronger Canadian dollar means

584
00:47:18.360 --> 00:47:21.480
<v Speaker 15>we get less for our product. Overall, a narrower light

585
00:47:21.760 --> 00:47:24.880
<v Speaker 15>heavy differential drives up the price of our heavy crude

586
00:47:25.159 --> 00:47:26.920
<v Speaker 15>and helps offset the lower.

587
00:47:26.679 --> 00:47:28.480
<v Speaker 6>Than budgeted price of WTI.

588
00:47:29.400 --> 00:47:31.800
<v Speaker 15>As of the first quarter, we have lowered our projected

589
00:47:31.840 --> 00:47:34.960
<v Speaker 15>price for a barrel of West Texas Intermediate to sixty

590
00:47:35.000 --> 00:47:38.199
<v Speaker 15>three seventy five US per barrel, down four dollars and

591
00:47:38.239 --> 00:47:42.280
<v Speaker 15>twenty five cents from budget. While corporate income tax revenue

592
00:47:42.280 --> 00:47:46.480
<v Speaker 15>is up driven by revision to corporate profits, revenue from

593
00:47:46.519 --> 00:47:50.320
<v Speaker 15>personal income taxes is down with lower than expected twenty

594
00:47:50.360 --> 00:47:55.599
<v Speaker 15>twenty four tax assessments. Now turning to expenses, operating expense

595
00:47:55.679 --> 00:47:59.079
<v Speaker 15>is forecast at sixty five billion, up about one percent

596
00:47:59.199 --> 00:48:02.039
<v Speaker 15>or six hundred cent seventy nine million, in large part

597
00:48:02.119 --> 00:48:05.840
<v Speaker 15>due to compensation pressures and to support collective bargaining. We

598
00:48:05.920 --> 00:48:08.840
<v Speaker 15>deeply appreciate the people who keep our public services running.

599
00:48:09.079 --> 00:48:12.840
<v Speaker 15>Their work impacts us all every single day. More than

600
00:48:12.960 --> 00:48:16.119
<v Speaker 15>half of the approximately one hundred and fifty five separate

601
00:48:16.119 --> 00:48:19.559
<v Speaker 15>collective agreements for public sector employees that are negotiated with

602
00:48:19.679 --> 00:48:22.320
<v Speaker 15>unions have been signed in the current round of bargaining.

603
00:48:23.119 --> 00:48:25.719
<v Speaker 15>There are also additional dollars for key initiatives that will

604
00:48:25.800 --> 00:48:29.480
<v Speaker 15>enhance seniors care, provide meals to kids, create a center

605
00:48:29.519 --> 00:48:33.079
<v Speaker 15>of Excellence in Alberta for aviation training, and help Elberton's

606
00:48:33.119 --> 00:48:37.440
<v Speaker 15>facing gender based violence navigate the courts. The twenty twenty

607
00:48:37.480 --> 00:48:40.960
<v Speaker 15>five twenty twenty six capital plan is up largely because

608
00:48:40.960 --> 00:48:44.480
<v Speaker 15>we've reprofiled unspent funds from last year into this year

609
00:48:45.079 --> 00:48:48.800
<v Speaker 15>to continue to deliver on approved projects. We're building recovery

610
00:48:48.800 --> 00:48:52.199
<v Speaker 15>communities to support recovery for mental health and addiction, and

611
00:48:52.239 --> 00:48:55.079
<v Speaker 15>we've added eighty nine million to accelerate the construction of

612
00:48:55.119 --> 00:48:58.519
<v Speaker 15>eleven new schools as fast as possible in growing communities.

613
00:49:00.039 --> 00:49:03.480
<v Speaker 15>Budget twenty twenty five we included a four billion dollar contingency,

614
00:49:04.000 --> 00:49:06.840
<v Speaker 15>double the amount set aside in the previous budget, to

615
00:49:06.880 --> 00:49:11.400
<v Speaker 15>cover unexpected in year expense increases. We anticipated what was

616
00:49:11.440 --> 00:49:15.480
<v Speaker 15>coming and planned ahead. By providing this increase, the government

617
00:49:15.480 --> 00:49:20.960
<v Speaker 15>can better navigate unexpected economic pressures and support collective bargaining commitments.

618
00:49:21.800 --> 00:49:24.159
<v Speaker 15>As for the first quarter, we v allocated roughly one

619
00:49:24.199 --> 00:49:27.519
<v Speaker 15>point five billion of the contingency, including seven hundred and

620
00:49:27.559 --> 00:49:31.320
<v Speaker 15>six million for disaster and emergency spending to fight wildfires

621
00:49:31.599 --> 00:49:35.079
<v Speaker 15>and to replant trees affected by wildfires. This leaves two

622
00:49:35.119 --> 00:49:37.599
<v Speaker 15>and a half billion in the contingency to address pressures

623
00:49:37.639 --> 00:49:40.000
<v Speaker 15>that may arise through the remainder of this fiscal year.

624
00:49:40.679 --> 00:49:44.559
<v Speaker 15>In terms of other first quarter updates, taxpayers supported debt

625
00:49:44.639 --> 00:49:47.159
<v Speaker 15>is forecast to be up one point seven billion since

626
00:49:47.199 --> 00:49:50.800
<v Speaker 15>budget due to the higher deficit. Higher boring requirements have

627
00:49:50.840 --> 00:49:55.800
<v Speaker 15>also pushed up debt servicing costs. The challenges faced by

628
00:49:55.800 --> 00:49:59.960
<v Speaker 15>Alberta and our economy are significant. Loyal prices have result

629
00:50:00.280 --> 00:50:03.639
<v Speaker 15>in a significant drop in the non renewable resource revenues

630
00:50:03.800 --> 00:50:08.400
<v Speaker 15>our budget relies on, and uncertainties in trade and security are.

631
00:50:08.199 --> 00:50:09.199
<v Speaker 6>More notable than ever.

632
00:50:09.719 --> 00:50:12.280
<v Speaker 15>The oil price forecasts for you this year sits as

633
00:50:12.320 --> 00:50:15.519
<v Speaker 15>I said at sixty three seventy five US, down four

634
00:50:15.559 --> 00:50:18.400
<v Speaker 15>dollars and twenty five cents from budget. For every dollar

635
00:50:18.440 --> 00:50:21.079
<v Speaker 15>the price drops, Alberta loses hundreds of millions of dollars

636
00:50:21.119 --> 00:50:25.199
<v Speaker 15>in revenue. This is a substantial change. Our government has

637
00:50:25.239 --> 00:50:27.639
<v Speaker 15>taken a very measured approach to dealing with the highs

638
00:50:27.639 --> 00:50:30.519
<v Speaker 15>and lows to protect Alburtons and our province from those

639
00:50:30.639 --> 00:50:35.000
<v Speaker 15>unpredictable swings. While we can't control external factors, we can

640
00:50:35.079 --> 00:50:38.440
<v Speaker 15>control our spending to protect the vital services Alburton's rely on.

641
00:50:39.119 --> 00:50:41.840
<v Speaker 15>We carefully save during the good years and in years

642
00:50:41.880 --> 00:50:44.679
<v Speaker 15>like this one, we stick to our fiscal framework and

643
00:50:44.719 --> 00:50:48.480
<v Speaker 15>make responsible fiscal decisions so that important government services remain

644
00:50:48.599 --> 00:50:52.719
<v Speaker 15>viable for our kids and grandkids. Elburtons want our government

645
00:50:52.719 --> 00:50:55.679
<v Speaker 15>to be frugal, provide the services they need, and look

646
00:50:55.679 --> 00:50:59.639
<v Speaker 15>for efficiencies and opportunities to speed up economic growth and stability.

647
00:51:00.159 --> 00:51:01.360
<v Speaker 6>That's exactly what we'll do.

648
00:51:01.800 --> 00:51:04.960
<v Speaker 15>We will protect Alberta's economic security and ensure that Alberta

649
00:51:05.000 --> 00:51:07.519
<v Speaker 15>remains the best place in Canada to live, work and

650
00:51:07.599 --> 00:51:08.320
<v Speaker 15>raise a family.

651
00:51:08.880 --> 00:51:11.760
<v Speaker 6>Thank you, and I'm happy to take questions. All right,

652
00:51:11.800 --> 00:51:14.079
<v Speaker 6>thank you, minister. Now we'll move to the media question

653
00:51:14.119 --> 00:51:14.599
<v Speaker 6>the answers.

654
00:51:14.599 --> 00:51:16.360
<v Speaker 4>We have time for one question, one follow up.

655
00:51:16.760 --> 00:51:19.039
<v Speaker 6>Just ask the media to identify yourself and your outlet

656
00:51:19.159 --> 00:51:21.840
<v Speaker 6>for asking the question. We'll start in the room and

657
00:51:21.880 --> 00:51:22.800
<v Speaker 6>then go to the phones.

658
00:51:22.880 --> 00:51:24.320
<v Speaker 14>I see we have some questions lined up.

659
00:51:24.559 --> 00:51:25.320
<v Speaker 4>Yes, please go ahead.

660
00:51:25.960 --> 00:51:26.960
<v Speaker 6>Natzki's going to get pressed.

661
00:51:26.960 --> 00:51:31.559
<v Speaker 16>Thanks for taking questions. In this update, w HIT forecast

662
00:51:31.559 --> 00:51:35.519
<v Speaker 16>has dropped about four dollars credib Blestments from different agencies

663
00:51:35.760 --> 00:51:38.719
<v Speaker 16>say that could drop to about mid fifty dollars by

664
00:51:38.800 --> 00:51:42.159
<v Speaker 16>the end of the year. For Q four, are you

665
00:51:42.239 --> 00:51:45.199
<v Speaker 16>concerned that oil presses could drop further?

666
00:51:45.800 --> 00:51:47.719
<v Speaker 6>How much is that weighing on you right now?

667
00:51:47.800 --> 00:51:51.039
<v Speaker 15>Oh, we're always concerned, especially having this job. You know,

668
00:51:51.079 --> 00:51:54.039
<v Speaker 15>if I followed every day, I think it's important to understand,

669
00:51:54.079 --> 00:51:56.559
<v Speaker 15>you know, what and budget we're forecasting for the entire

670
00:51:56.679 --> 00:51:59.480
<v Speaker 15>year and at every period of reporting here we're at

671
00:51:59.559 --> 00:52:03.920
<v Speaker 15>Q one. We take into account the actuals that we've seen,

672
00:52:04.400 --> 00:52:07.000
<v Speaker 15>so I can tell you that the actuals to date

673
00:52:07.039 --> 00:52:09.159
<v Speaker 15>over the first three months of this fiscal year have

674
00:52:09.360 --> 00:52:12.639
<v Speaker 15>oil at sixty four fifty two, so you would need

675
00:52:13.400 --> 00:52:14.519
<v Speaker 15>maybe sixty three and a.

676
00:52:14.559 --> 00:52:17.559
<v Speaker 6>Quarter for this forecast to realize.

677
00:52:18.119 --> 00:52:20.400
<v Speaker 15>But we take all those things into consideration and try

678
00:52:20.440 --> 00:52:22.599
<v Speaker 15>to weigh them against the actuals.

679
00:52:23.119 --> 00:52:24.840
<v Speaker 16>We are in a different place from three four months

680
00:52:24.880 --> 00:52:27.880
<v Speaker 16>ago in terms of trade negotiations with the US. You

681
00:52:27.960 --> 00:52:31.400
<v Speaker 16>mentioned last update the investment install do to a fair

682
00:52:31.400 --> 00:52:34.280
<v Speaker 16>bit of uncertainty. Given where we are now, how do

683
00:52:34.360 --> 00:52:37.599
<v Speaker 16>you describe the past three four months where we are now.

684
00:52:37.440 --> 00:52:38.079
<v Speaker 6>Compared to then?

685
00:52:39.079 --> 00:52:45.000
<v Speaker 15>Well, I think, as I said, the actual tariff implications

686
00:52:45.000 --> 00:52:47.480
<v Speaker 15>for Alberta between US and the US have been lighter

687
00:52:47.519 --> 00:52:49.280
<v Speaker 15>than we anticipated a budget.

688
00:52:49.679 --> 00:52:50.880
<v Speaker 6>The actual.

689
00:52:52.199 --> 00:52:54.880
<v Speaker 15>Weight of the tariffs is around three percent for everything

690
00:52:54.880 --> 00:52:56.119
<v Speaker 15>that we trade with the US.

691
00:52:56.480 --> 00:52:57.360
<v Speaker 6>So that's a good thing.

692
00:52:57.800 --> 00:53:01.679
<v Speaker 15>I'd say, it's presented itself a little different in Alberta's circumstance.

693
00:53:01.719 --> 00:53:05.559
<v Speaker 15>I'd say the global uncertainty and a lot of the

694
00:53:05.599 --> 00:53:08.679
<v Speaker 15>trade discussions that the US is having with all of

695
00:53:08.719 --> 00:53:11.960
<v Speaker 15>the other trading partners around the world has affected Alberta more.

696
00:53:12.400 --> 00:53:13.719
<v Speaker 6>We do see a.

697
00:53:13.719 --> 00:53:18.159
<v Speaker 15>Bit of a chill regarding large investments, a lot of

698
00:53:18.159 --> 00:53:21.119
<v Speaker 15>dollars sitting on the sidelines, just waiting for more stability.

699
00:53:21.440 --> 00:53:24.960
<v Speaker 15>And it's definitely impacted us through the oil price dramatically.

700
00:53:25.480 --> 00:53:29.599
<v Speaker 15>And you know, the demand, the demand still looks still

701
00:53:29.639 --> 00:53:32.800
<v Speaker 15>looks looks stronger, is even stronger than a budget but

702
00:53:32.840 --> 00:53:36.840
<v Speaker 15>we're just seeing that that risk weighted heavily in the market.

703
00:53:36.880 --> 00:53:38.480
<v Speaker 6>So that's the way it's impacted Alberta.

704
00:53:38.760 --> 00:53:39.159
<v Speaker 3>Thank you.

705
00:53:41.480 --> 00:53:42.840
<v Speaker 6>Hi Edward from City News.

706
00:53:43.480 --> 00:53:43.840
<v Speaker 14>Minister.

707
00:53:44.079 --> 00:53:47.679
<v Speaker 17>If the price for oil goes below that sixty dollars

708
00:53:47.719 --> 00:53:50.880
<v Speaker 17>per barrel mark, is Alberta in trouble and can the

709
00:53:50.920 --> 00:53:53.719
<v Speaker 17>province potentially be cutting services here as well too?

710
00:53:54.159 --> 00:53:54.360
<v Speaker 8>Well?

711
00:53:54.360 --> 00:53:56.760
<v Speaker 15>If it goes below that, the deficit will be higher

712
00:53:57.079 --> 00:53:59.920
<v Speaker 15>if we don't make some other changes on the expense side.

713
00:54:01.119 --> 00:54:05.199
<v Speaker 15>I would maybe just say this, it's much talked about

714
00:54:05.239 --> 00:54:08.320
<v Speaker 15>the royalty roller coaster that albert has been on.

715
00:54:09.800 --> 00:54:10.679
<v Speaker 6>That's very true.

716
00:54:10.679 --> 00:54:14.559
<v Speaker 15>But the way it affects actual elburtens is when governments

717
00:54:15.280 --> 00:54:18.800
<v Speaker 15>ratchet up spending in surplus years to try to catch

718
00:54:18.920 --> 00:54:21.440
<v Speaker 15>up and then drastically cut in deficit years.

719
00:54:21.840 --> 00:54:23.679
<v Speaker 6>What our commitment has been is.

720
00:54:23.599 --> 00:54:28.719
<v Speaker 15>That we'll use the surpluses appropriately to improve our fiscal position,

721
00:54:28.760 --> 00:54:32.000
<v Speaker 15>either through debt repayment or savings in the Heritage Fund.

722
00:54:32.639 --> 00:54:36.079
<v Speaker 15>And well by managing the surpluses appropriately, we can weather

723
00:54:36.519 --> 00:54:40.480
<v Speaker 15>some of these deficit cycles. I don't want to immediately

724
00:54:40.559 --> 00:54:43.440
<v Speaker 15>match our spending when oil is at eighty dollars, and

725
00:54:43.480 --> 00:54:46.000
<v Speaker 15>I likewise right now, I'm not going to bring down

726
00:54:46.000 --> 00:54:49.280
<v Speaker 15>our spending to match sixty three dollars. So we are

727
00:54:49.320 --> 00:54:51.000
<v Speaker 15>going to have to weather some of this. But I

728
00:54:51.000 --> 00:54:53.800
<v Speaker 15>think the fiscal rules will help us. Back to your

729
00:54:53.840 --> 00:54:58.000
<v Speaker 15>original question, you know, we have budget twenty six deliberations

730
00:54:58.320 --> 00:55:01.920
<v Speaker 15>upcoming this fall. We also have a program review Committee

731
00:55:01.920 --> 00:55:04.480
<v Speaker 15>that's going to look at the existing budgets of all ministries.

732
00:55:04.840 --> 00:55:08.639
<v Speaker 15>We're going to look for opportunities and efficiencies. I think

733
00:55:09.239 --> 00:55:13.559
<v Speaker 15>Alberta can't afford to be an outlier in many places.

734
00:55:14.159 --> 00:55:16.960
<v Speaker 15>We are one when it comes to taxation, and that's

735
00:55:17.039 --> 00:55:20.000
<v Speaker 15>that's the one place we we'd like to protect.

736
00:55:20.800 --> 00:55:21.920
<v Speaker 6>But we're going to look at everything.

737
00:55:22.760 --> 00:55:26.639
<v Speaker 17>And currently teachers are in negotiations for a new contract.

738
00:55:27.000 --> 00:55:30.480
<v Speaker 17>Would any potential races come from the contingency Fund?

739
00:55:30.519 --> 00:55:34.760
<v Speaker 15>In Well, we've we've done a few things you know,

740
00:55:34.800 --> 00:55:37.639
<v Speaker 15>we have we have put some of the expectations around

741
00:55:37.679 --> 00:55:42.039
<v Speaker 15>bargaining into into ministries' budgets, but we can't budget for

742
00:55:42.079 --> 00:55:44.000
<v Speaker 15>what we don't know. So it will depend on where

743
00:55:44.039 --> 00:55:48.400
<v Speaker 15>these deals actually land once they're ratified, but they will

744
00:55:48.679 --> 00:55:50.639
<v Speaker 15>a large portion will have to come from the contingency.

745
00:55:50.719 --> 00:55:52.920
<v Speaker 14>Yes, thank you.

746
00:55:53.159 --> 00:55:55.440
<v Speaker 18>Seeing no further questions in the room, will move to

747
00:55:55.559 --> 00:55:56.440
<v Speaker 18>the phones operator.

748
00:55:56.480 --> 00:55:57.920
<v Speaker 6>Can you please put through the first collar.

749
00:55:59.599 --> 00:56:03.400
<v Speaker 12>Yeah, that's question from Sarah Comedina from Global Chelane yourself,

750
00:56:07.239 --> 00:56:07.920
<v Speaker 12>I thank.

751
00:56:07.760 --> 00:56:11.239
<v Speaker 19>You for taking my question. So how will you be

752
00:56:11.400 --> 00:56:14.840
<v Speaker 19>using the contingency fund as often the blow right now?

753
00:56:16.519 --> 00:56:18.920
<v Speaker 15>So the way the way the contingency works, it's at

754
00:56:18.960 --> 00:56:22.039
<v Speaker 15>four billion, Like we said, we've allocated one point.

755
00:56:21.880 --> 00:56:22.559
<v Speaker 14>Five to date.

756
00:56:22.800 --> 00:56:25.039
<v Speaker 6>A large portion of that is for wildfire.

757
00:56:26.280 --> 00:56:30.039
<v Speaker 15>As ministries face pressures throughout the year, UH, they'll return

758
00:56:30.119 --> 00:56:33.599
<v Speaker 15>to treasure report and UH ask that we resolve them.

759
00:56:34.639 --> 00:56:38.320
<v Speaker 15>My from my perspective, I think the way you approach

760
00:56:39.079 --> 00:56:43.000
<v Speaker 15>the contingency and asks are you start with the things

761
00:56:43.039 --> 00:56:46.559
<v Speaker 15>that are unavoidable, the things that are legislated obligations of

762
00:56:46.679 --> 00:56:49.760
<v Speaker 15>which we have many, and things that we have some

763
00:56:50.519 --> 00:56:53.360
<v Speaker 15>choice in the matter. Maybe may get may get deferred

764
00:56:53.400 --> 00:56:57.239
<v Speaker 15>to a later date, but that's basically the approach we take.

765
00:56:57.320 --> 00:56:59.000
<v Speaker 6>We deal with what we can avoid.

766
00:57:01.119 --> 00:57:04.159
<v Speaker 19>And if allow up what kind of ye What kind

767
00:57:04.199 --> 00:57:07.280
<v Speaker 19>of direction are you giving ministers right now with the

768
00:57:07.519 --> 00:57:11.079
<v Speaker 19>potential of test economic times. I know you mentioned that

769
00:57:11.159 --> 00:57:14.960
<v Speaker 19>you're not looking to match this sixty three dollars vary,

770
00:57:15.159 --> 00:57:20.239
<v Speaker 19>but if things continue like this into next year the future, like,

771
00:57:20.360 --> 00:57:22.000
<v Speaker 19>what direction do the ministers get?

772
00:57:22.760 --> 00:57:23.920
<v Speaker 6>So that's a great question.

773
00:57:24.239 --> 00:57:27.079
<v Speaker 15>I know I updated Caucus and Cabinet in the last

774
00:57:27.159 --> 00:57:30.960
<v Speaker 15>couple of days. My expectation is I want them to

775
00:57:31.079 --> 00:57:34.119
<v Speaker 15>understand that any new un budgeted ask is going to

776
00:57:34.239 --> 00:57:38.760
<v Speaker 15>increase the deficit at this time. So first, first, and foremost,

777
00:57:38.840 --> 00:57:40.880
<v Speaker 15>I want them to ask that question, is this something

778
00:57:41.519 --> 00:57:44.079
<v Speaker 15>that we want to borrow for on behalf of il burdens.

779
00:57:46.000 --> 00:57:50.280
<v Speaker 6>I wouldn't rule out the possibility that we may have.

780
00:57:51.800 --> 00:57:54.400
<v Speaker 15>Spending target memo come out at Q two before the

781
00:57:54.480 --> 00:57:59.800
<v Speaker 15>budget process starts. Much like we've seen the federal government.

782
00:58:01.320 --> 00:58:03.239
<v Speaker 15>We're not as fat as the federal government, so it

783
00:58:03.320 --> 00:58:05.280
<v Speaker 15>probably won't be as I we've done a lot of

784
00:58:05.719 --> 00:58:09.360
<v Speaker 15>work on the spending site since twenty nineteen, but I wouldn't.

785
00:58:09.079 --> 00:58:09.559
<v Speaker 6>Rule that out.

786
00:58:11.320 --> 00:58:13.199
<v Speaker 4>Thank you operator, please put through the next question.

787
00:58:14.639 --> 00:58:18.199
<v Speaker 12>NXT question is from Jackiekermichael from Edmonton. Joinal here line

788
00:58:18.280 --> 00:58:18.719
<v Speaker 12>is oping.

789
00:58:20.679 --> 00:58:25.519
<v Speaker 20>Thank you for taking my question. You described good years

790
00:58:25.880 --> 00:58:27.679
<v Speaker 20>and then deficit year and it looks like we're in

791
00:58:27.719 --> 00:58:30.599
<v Speaker 20>a deficit year. When is the last time it was

792
00:58:32.159 --> 00:58:34.079
<v Speaker 20>worse or more deficity than this?

793
00:58:36.840 --> 00:58:38.840
<v Speaker 15>Well, this will be the first deficit if that's how

794
00:58:38.920 --> 00:58:44.079
<v Speaker 15>this year ends in five years, so it's been been

795
00:58:44.159 --> 00:58:44.599
<v Speaker 15>some time.

796
00:58:45.639 --> 00:58:46.360
<v Speaker 14>Can you follow up?

797
00:58:47.960 --> 00:58:51.360
<v Speaker 20>Yes, Alberta is an outlier in taxation, but you say

798
00:58:51.440 --> 00:58:58.079
<v Speaker 20>everything's on the table and that includes taxation as a consideration,

799
00:58:59.079 --> 00:59:00.639
<v Speaker 20>So that's going to be look that this year.

800
00:59:01.199 --> 00:59:03.079
<v Speaker 6>Well, it's always a consideration for government.

801
00:59:03.119 --> 00:59:06.199
<v Speaker 15>But I would say from our government we have a

802
00:59:06.320 --> 00:59:09.400
<v Speaker 15>strong commitment and belief that we really need to look

803
00:59:09.480 --> 00:59:12.719
<v Speaker 15>under every stone on the spending side and ensure we've

804
00:59:12.800 --> 00:59:16.039
<v Speaker 15>done that work before we come back to Alburton's and

805
00:59:16.159 --> 00:59:20.599
<v Speaker 15>ask for more revenue on large scale revenue reform, that

806
00:59:20.800 --> 00:59:25.480
<v Speaker 15>hasn't stopped us from looking at revenue in specific cases.

807
00:59:25.639 --> 00:59:26.719
<v Speaker 6>Just in Budget twenty.

808
00:59:26.559 --> 00:59:29.840
<v Speaker 15>Five we updated many fees that hadn't been looked at

809
00:59:30.039 --> 00:59:35.000
<v Speaker 15>sometimes in forty years. So we're constantly looking at revenue

810
00:59:35.000 --> 00:59:38.440
<v Speaker 15>as well, you might have saw the Data Center announcement

811
00:59:38.480 --> 00:59:41.639
<v Speaker 15>from yesterday where we saw that we wanted to ensure

812
00:59:41.679 --> 00:59:43.840
<v Speaker 15>that Alburton's got a fair deal if those investments do

813
00:59:43.960 --> 00:59:47.679
<v Speaker 15>come do come to pass, and thought that it maybe

814
00:59:47.719 --> 00:59:50.760
<v Speaker 15>didn't totally align with our tax structure, so we ensured

815
00:59:50.800 --> 00:59:52.119
<v Speaker 15>that there was a.

816
00:59:52.239 --> 00:59:53.280
<v Speaker 6>Levy that will be applied.

817
00:59:54.119 --> 01:00:00.280
<v Speaker 15>So opportunities like that exist l larger scale revenue reform. Remember,

818
01:00:00.280 --> 01:00:02.360
<v Speaker 15>wants to make sure we have spending in a place

819
01:00:02.400 --> 01:00:05.039
<v Speaker 15>we're comfortable before we have that conversation.

820
01:00:06.000 --> 01:00:08.280
<v Speaker 19>All right, thank you, operator, Please put through the next collar.

821
01:00:09.760 --> 01:00:12.760
<v Speaker 12>Our next one is Katherine, because you're from all Alberta.

822
01:00:12.880 --> 01:00:15.280
<v Speaker 12>Your line is open. Yeah.

823
01:00:15.400 --> 01:00:18.360
<v Speaker 18>Thanks, And so along that line, you said said you

824
01:00:18.519 --> 01:00:23.239
<v Speaker 18>may be preparing those spending targets for cabinet, but in

825
01:00:23.400 --> 01:00:27.320
<v Speaker 18>terms of all Burtons, what should they be bracing for?

826
01:00:27.599 --> 01:00:31.199
<v Speaker 18>What's what's your message as as they prepare for this

827
01:00:31.360 --> 01:00:32.400
<v Speaker 18>government to be frugal?

828
01:00:33.960 --> 01:00:37.239
<v Speaker 15>Well, I don't I don't think I would tell Burton's

829
01:00:37.800 --> 01:00:40.320
<v Speaker 15>you know, I know the Premier's comment with Alberton should

830
01:00:40.320 --> 01:00:43.960
<v Speaker 15>brace themselves. I guess I would say Alburton's should be

831
01:00:44.039 --> 01:00:47.400
<v Speaker 15>prepared for, you know, a government that's looking at everything

832
01:00:47.599 --> 01:00:48.599
<v Speaker 15>and doesn't want to be an.

833
01:00:48.559 --> 01:00:49.800
<v Speaker 6>Outlier in any way.

834
01:00:49.880 --> 01:00:53.760
<v Speaker 15>Regarding spending, we still have you know, a lot of

835
01:00:53.840 --> 01:00:55.960
<v Speaker 15>our a lot of our programs are still the highest

836
01:00:56.000 --> 01:00:59.639
<v Speaker 15>in the country. We we do have to we do

837
01:00:59.760 --> 01:01:01.960
<v Speaker 15>have a look at those things and unless we want

838
01:01:02.000 --> 01:01:06.679
<v Speaker 15>to increase the debt and deficit even higher, you know,

839
01:01:06.840 --> 01:01:10.239
<v Speaker 15>it's going to be part of a process. The process

840
01:01:10.440 --> 01:01:12.280
<v Speaker 15>is the thing we can lean on, and we have

841
01:01:12.400 --> 01:01:15.159
<v Speaker 15>the fiscal rules to guide us, which I'm grateful for.

842
01:01:15.960 --> 01:01:19.440
<v Speaker 15>Continue to keep our spending growth, you know, below population

843
01:01:19.599 --> 01:01:23.360
<v Speaker 15>plus inflation. Do everything we can to stay within the contingency.

844
01:01:23.960 --> 01:01:27.039
<v Speaker 15>That's the rules that we've legislated ourselves to live by

845
01:01:27.840 --> 01:01:29.360
<v Speaker 15>UH and that's been seen.

846
01:01:29.239 --> 01:01:31.159
<v Speaker 6>Favorably by credit rating agencies.

847
01:01:31.920 --> 01:01:34.679
<v Speaker 15>They want to ensure that we spend the surplus as well,

848
01:01:34.920 --> 01:01:36.599
<v Speaker 15>and then we can manage the deficit years.

849
01:01:38.960 --> 01:01:41.400
<v Speaker 6>All right, thank you, go ahead?

850
01:01:50.480 --> 01:01:50.679
<v Speaker 21>Kay?

851
01:01:51.159 --> 01:01:51.639
<v Speaker 7>All sure?

852
01:01:52.559 --> 01:01:56.440
<v Speaker 22>From Berlin and Germany. This is my first international trip.

853
01:01:56.599 --> 01:01:59.239
<v Speaker 22>Is Canada's miss of energy and natural sources.

854
01:01:59.440 --> 01:02:00.639
<v Speaker 7>And I to be here.

855
01:02:01.920 --> 01:02:06.039
<v Speaker 22>Let me be clear, this destination is not a coincidence.

856
01:02:06.800 --> 01:02:15.800
<v Speaker 22>It's a deliberate choice reflecting the important place of Canada's

857
01:02:15.840 --> 01:02:19.519
<v Speaker 22>relationship with Germany, especially when it comes to energy and

858
01:02:19.639 --> 01:02:26.639
<v Speaker 22>natural resources, as well as manufacturing, trade and defense. Canada

859
01:02:26.719 --> 01:02:30.440
<v Speaker 22>and Germany share a long standing partnership rooted in common values,

860
01:02:31.119 --> 01:02:37.880
<v Speaker 22>mutual respect, and shared commitments to democracy, sustainability and global leadership.

861
01:02:39.119 --> 01:02:43.840
<v Speaker 22>That partnership has been significantly significantly strengthened by this visit

862
01:02:44.440 --> 01:02:47.840
<v Speaker 22>and a strong relationship between our Prime Minister and.

863
01:02:47.920 --> 01:02:48.840
<v Speaker 7>The German Chancellor.

864
01:02:50.760 --> 01:02:53.280
<v Speaker 22>Over the course of these two days with Prime Minister

865
01:02:53.440 --> 01:02:57.960
<v Speaker 22>Kearney and the Canadian delegation, we have had many productive

866
01:02:58.039 --> 01:03:02.760
<v Speaker 22>meetings and discussions with Key and German companies committed to

867
01:03:02.880 --> 01:03:09.320
<v Speaker 22>advancing strategic projects for both our countries. These conversations advanced

868
01:03:09.400 --> 01:03:14.920
<v Speaker 22>are shared priorities, strengthened by lateral cooperation, and are driving

869
01:03:15.199 --> 01:03:21.360
<v Speaker 22>towards results. Our alliance is extremely important because we are

870
01:03:21.440 --> 01:03:27.440
<v Speaker 22>living through a hinge moment in global history. Today's geopolitics

871
01:03:27.480 --> 01:03:31.280
<v Speaker 22>have shown the risks and role of vulnerabilities of over

872
01:03:31.440 --> 01:03:36.039
<v Speaker 22>reliance on a single supplier or customer for energy or

873
01:03:36.119 --> 01:03:41.639
<v Speaker 22>critical minerals. Three years ago, Russia's full scale invasion of

874
01:03:41.719 --> 01:03:46.880
<v Speaker 22>the Ukraine plunged Europe into the worst energy crisis since

875
01:03:46.920 --> 01:03:52.280
<v Speaker 22>the nineteen seventies, and Germany faced the harshest energy shock

876
01:03:53.000 --> 01:03:59.079
<v Speaker 22>in generations. Meanwhile, Canada, Canada is facing a trade war

877
01:03:59.159 --> 01:04:01.639
<v Speaker 22>that has caused us to look to retool our economy

878
01:04:02.119 --> 01:04:06.239
<v Speaker 22>and build a new economic and security relationship, not only

879
01:04:06.360 --> 01:04:08.320
<v Speaker 22>with the US, but with.

880
01:04:08.400 --> 01:04:13.840
<v Speaker 7>Our allies around the world. These are stark reminders that energy.

881
01:04:13.760 --> 01:04:19.400
<v Speaker 22>Is not just about economics, but also about national security,

882
01:04:20.760 --> 01:04:28.199
<v Speaker 22>industry and manufacturing, and our sovereignty. As such, the new

883
01:04:28.320 --> 01:04:32.719
<v Speaker 22>federal government has made a conscious choice to recenter energy

884
01:04:33.280 --> 01:04:36.480
<v Speaker 22>in how we think about our domestic affairs, but also

885
01:04:37.360 --> 01:04:38.320
<v Speaker 22>Canada's place.

886
01:04:38.119 --> 01:04:38.519
<v Speaker 23>In the world.

887
01:04:40.480 --> 01:04:43.800
<v Speaker 22>As the world is recalibrating, Canada is stepping up to

888
01:04:43.880 --> 01:04:46.400
<v Speaker 22>be a trusted partner and supplier.

889
01:04:47.440 --> 01:04:48.719
<v Speaker 7>We are securing our.

890
01:04:48.639 --> 01:04:53.639
<v Speaker 22>Place as a global energy superpower. From critical minerals, to oil,

891
01:04:53.960 --> 01:04:58.000
<v Speaker 22>natural gas and to hydrogen. We are ready to be

892
01:04:58.119 --> 01:05:03.679
<v Speaker 22>a cornerstone of Europe and the world's energy resilience in

893
01:05:03.800 --> 01:05:07.360
<v Speaker 22>a matter in a manner that demonstrates our commitment to

894
01:05:07.480 --> 01:05:16.239
<v Speaker 22>diversified trade relations, indigenous reconciliation, and the energy transition. Over

895
01:05:16.320 --> 01:05:19.639
<v Speaker 22>the past two days, a key focused our discussions has

896
01:05:19.719 --> 01:05:25.119
<v Speaker 22>been critical minerals cooperation. Canada has what Germany and Europe

897
01:05:25.320 --> 01:05:31.280
<v Speaker 22>needs secure reliable supplies of responsibly produced minerals that are

898
01:05:31.440 --> 01:05:34.119
<v Speaker 22>essential to clean technologies.

899
01:05:34.519 --> 01:05:37.119
<v Speaker 7>Events and advanced manufacturing.

900
01:05:38.559 --> 01:05:41.679
<v Speaker 22>During this trip, I was pleased to meet German CEOs

901
01:05:42.199 --> 01:05:47.239
<v Speaker 22>and take tangible steps towards attracting German investment into Canadian

902
01:05:47.400 --> 01:05:53.559
<v Speaker 22>critical minerals projects. For example, at the G seven Leaders

903
01:05:53.639 --> 01:05:56.559
<v Speaker 22>meeting in June, we announced that Canada and ore like

904
01:05:56.639 --> 01:06:02.199
<v Speaker 22>minded allies will co fund projects, strengthen research and development,

905
01:06:02.760 --> 01:06:08.159
<v Speaker 22>and secure the minerals that power evs and batteries, aerospace

906
01:06:08.639 --> 01:06:13.280
<v Speaker 22>and defense from market manipulation and non market based competition

907
01:06:14.239 --> 01:06:20.639
<v Speaker 22>via our Critical Minerals Production Alliance. Yesterday, Jeremy announced the

908
01:06:20.719 --> 01:06:24.400
<v Speaker 22>appointment of their envoy to the alliance, who will be

909
01:06:25.119 --> 01:06:30.920
<v Speaker 22>a direct counterpart to our envoy, Isabella Chan. Our two

910
01:06:31.000 --> 01:06:34.440
<v Speaker 22>envoys will work together over the next few months, especially

911
01:06:34.559 --> 01:06:37.760
<v Speaker 22>leading up to the G seven Ministerial meeting in the fall,

912
01:06:38.280 --> 01:06:42.559
<v Speaker 22>to connect Canada and Germany on discussions and work to

913
01:06:42.679 --> 01:06:47.119
<v Speaker 22>stockpile and develop critical minerals needed for defense and technology.

914
01:06:48.599 --> 01:06:51.679
<v Speaker 22>We also saw the signing of three agreements between Canadian

915
01:06:51.760 --> 01:06:56.239
<v Speaker 22>and German companies, material steps to advance the crucial work

916
01:06:56.440 --> 01:07:02.599
<v Speaker 22>I'm talking about. Troylist Corporation, Canadian Mining Company reached.

917
01:07:02.360 --> 01:07:04.559
<v Speaker 7>The supply agreement for significant.

918
01:07:04.079 --> 01:07:09.039
<v Speaker 22>Portion of future copper constant concentrate production with the Rubus AG,

919
01:07:09.320 --> 01:07:14.079
<v Speaker 22>a leading European smelting and recycling group headquartered here in.

920
01:07:14.079 --> 01:07:14.880
<v Speaker 7>Hamburg, Germany.

921
01:07:16.559 --> 01:07:20.679
<v Speaker 22>Torn Gat Metals, a Quebec based rarer's development company, and

922
01:07:20.880 --> 01:07:24.360
<v Speaker 22>Vacuum Smelts, a global leader in the production of rare

923
01:07:24.400 --> 01:07:28.119
<v Speaker 22>earth's permanent magnets, have signed an agreement for the long

924
01:07:28.199 --> 01:07:32.320
<v Speaker 22>term supply of Canadian rare earth oxides to the company.

925
01:07:34.320 --> 01:07:38.119
<v Speaker 22>Rock Tech Lithium, a Canadian German clean tech company, signed

926
01:07:38.159 --> 01:07:43.360
<v Speaker 22>an MLU with Entertrack to connect their lithium conversion plant

927
01:07:43.480 --> 01:07:48.199
<v Speaker 22>in goub And, Germany to Anthratrags solar and offshore wind farms,

928
01:07:48.840 --> 01:07:53.239
<v Speaker 22>allowing rock Tech to decarbonize its operations and offer its

929
01:07:53.280 --> 01:07:57.840
<v Speaker 22>customers more competitive pricing. This is a major step forward

930
01:07:57.880 --> 01:08:00.880
<v Speaker 22>as we prepare for the G seven Energy and Environment

931
01:08:01.000 --> 01:08:03.039
<v Speaker 22>ministers meeting in the fall.

932
01:08:04.760 --> 01:08:05.320
<v Speaker 7>On lerg.

933
01:08:05.679 --> 01:08:07.840
<v Speaker 22>As you likely heard, our new government is taking a

934
01:08:07.920 --> 01:08:12.239
<v Speaker 22>somewhat different position. I want to be clear this is

935
01:08:12.360 --> 01:08:15.639
<v Speaker 22>not to speak ill of the past government. To do

936
01:08:15.800 --> 01:08:21.079
<v Speaker 22>what democratic governments are elected to do, evolve based on

937
01:08:21.199 --> 01:08:24.640
<v Speaker 22>the moment and what Canadians and our allies are asking for.

938
01:08:25.720 --> 01:08:28.840
<v Speaker 7>Based on new information, new.

939
01:08:28.800 --> 01:08:34.520
<v Speaker 22>Facts on the ground, and changing geopolitics, recognizing that LERG

940
01:08:34.760 --> 01:08:39.239
<v Speaker 22>projects under construction in Canada will primarily serve Asian markets.

941
01:08:39.239 --> 01:08:42.359
<v Speaker 22>Over the course of our time in Germany, I heard

942
01:08:42.439 --> 01:08:46.960
<v Speaker 22>there is still strong demand for Canadian energy here and

943
01:08:47.079 --> 01:08:50.720
<v Speaker 22>across the EU, and we are open to exploring how

944
01:08:50.800 --> 01:08:53.600
<v Speaker 22>Canadian energy can play a significant role in the world's

945
01:08:53.680 --> 01:08:58.159
<v Speaker 22>evolving energy mix beyond Asia. If the demand and the

946
01:08:58.279 --> 01:09:03.760
<v Speaker 22>infrastructure aligned in Canada had seid, I want to be

947
01:09:03.960 --> 01:09:07.960
<v Speaker 22>very clear to the Canadian audience any project that could

948
01:09:08.000 --> 01:09:11.319
<v Speaker 22>potentially serve European markets would have to be built in

949
01:09:11.399 --> 01:09:17.079
<v Speaker 22>collaboration with the affected provinces, with indigenous partners, and have

950
01:09:17.199 --> 01:09:23.119
<v Speaker 22>a strong chance of successful execution. In my meetings with

951
01:09:23.239 --> 01:09:27.279
<v Speaker 22>German Energy Minister Katharina Recre I also had the chance

952
01:09:27.319 --> 01:09:31.399
<v Speaker 22>to discuss how we can progress hydrogen cooperation, which remains.

953
01:09:31.079 --> 01:09:33.960
<v Speaker 7>A key pillar of our bilateral relationship.

954
01:09:35.279 --> 01:09:39.720
<v Speaker 22>Despite challenges in the global hybrigen market, Canadian projects continue

955
01:09:39.760 --> 01:09:42.359
<v Speaker 22>to advance and we know there will be long term

956
01:09:42.439 --> 01:09:46.840
<v Speaker 22>demand for hydrogen as a sustainable fuel source, a demand

957
01:09:47.039 --> 01:09:49.880
<v Speaker 22>it is in our interest to meet as an energy

958
01:09:49.920 --> 01:09:55.239
<v Speaker 22>superpower for today and tomorrow. This trip has been about

959
01:09:55.279 --> 01:09:58.560
<v Speaker 22>more than trade. It has been about building a future

960
01:09:58.600 --> 01:10:02.800
<v Speaker 22>where energy is secure and sustainable and Canadian products are

961
01:10:02.840 --> 01:10:07.159
<v Speaker 22>being traded in alignment with a commitment to democracy and

962
01:10:07.239 --> 01:10:11.720
<v Speaker 22>a free market. It is about attracting capital investment to

963
01:10:11.840 --> 01:10:16.279
<v Speaker 22>Canada and we get back into business of building big things.

964
01:10:18.159 --> 01:10:21.199
<v Speaker 22>I see the enormous potential to deepen Canadian German cooperation

965
01:10:22.000 --> 01:10:28.960
<v Speaker 22>in energy, mining, infrastructure development and technological innovation. These are

966
01:10:29.039 --> 01:10:34.960
<v Speaker 22>areas where Canada brings not only resources, but reliability, expertise,

967
01:10:35.800 --> 01:10:39.159
<v Speaker 22>and a commitment to the low carbon products that Germany

968
01:10:40.039 --> 01:10:44.119
<v Speaker 22>is looking for as they, like Canada, look to navigate

969
01:10:44.159 --> 01:10:48.359
<v Speaker 22>the energy transition without compromising industrial strength.

970
01:10:48.720 --> 01:10:49.720
<v Speaker 7>Or energy security.

971
01:10:51.279 --> 01:10:55.840
<v Speaker 22>In a time of global uncertainty, Canada is offering predictability

972
01:10:56.520 --> 01:10:59.760
<v Speaker 22>and purpose. We are proud to be a trust worth

973
01:11:00.079 --> 01:11:03.920
<v Speaker 22>to the continued collaboration with Germany. Thank you, Mercy, and

974
01:11:03.960 --> 01:11:04.960
<v Speaker 22>I'll take your questions.

975
01:11:07.800 --> 01:11:08.039
<v Speaker 7>Thank you.

976
01:11:08.239 --> 01:11:10.479
<v Speaker 24>We will now begin to begin taking questions. Most sons

977
01:11:10.479 --> 01:11:13.199
<v Speaker 24>that now for our first question, we will start with

978
01:11:13.359 --> 01:11:16.359
<v Speaker 24>Megan Potkins. Just a reminder to please share your name

979
01:11:16.399 --> 01:11:19.039
<v Speaker 24>and affiliation and ask your question. I will prompt you

980
01:11:19.039 --> 01:11:19.600
<v Speaker 24>to unmute now.

981
01:11:19.600 --> 01:11:26.359
<v Speaker 21>Meghan, Hello, minister, thank you for taking my question. This

982
01:11:26.520 --> 01:11:31.600
<v Speaker 21>is Megan Potkins with the Financial Post. You talk about,

983
01:11:32.239 --> 01:11:36.439
<v Speaker 21>you know, evolving, an evolving situation and facts that are

984
01:11:36.560 --> 01:11:41.399
<v Speaker 21>changing that have led to your government's position. I guess

985
01:11:41.560 --> 01:11:45.600
<v Speaker 21>specifically I'm asking about LNG. We also know that that

986
01:11:45.840 --> 01:11:49.920
<v Speaker 21>LNG projects, specifically that are offering that could potentially involve

987
01:11:50.000 --> 01:11:53.520
<v Speaker 21>shipping Canadian lerg across the Atlantic, have been challenged by

988
01:11:53.600 --> 01:11:59.640
<v Speaker 21>things like incredibly high capital costs, you know, the restricted

989
01:12:00.119 --> 01:12:03.920
<v Speaker 21>shipping season through the Arctic if it was something through

990
01:12:03.960 --> 01:12:07.199
<v Speaker 21>the Port of Churchill. We also know that it's faced

991
01:12:07.239 --> 01:12:11.079
<v Speaker 21>political opposition as well as frankly, the risk that buyers

992
01:12:11.159 --> 01:12:13.560
<v Speaker 21>German buyers who might be running might be running on

993
01:12:13.680 --> 01:12:17.960
<v Speaker 21>hydrogen before the first cargo itself would leave Nova Scotia

994
01:12:18.159 --> 01:12:23.000
<v Speaker 21>or the East Coast. These have all been raised. I

995
01:12:23.279 --> 01:12:25.560
<v Speaker 21>say these, these have all been raised its objections to

996
01:12:26.600 --> 01:12:29.640
<v Speaker 21>or challenges to a project advancing. I'm curious if you

997
01:12:29.680 --> 01:12:34.520
<v Speaker 21>could articulate what gives either you, I don't want to

998
01:12:34.520 --> 01:12:39.079
<v Speaker 21>say confidence, but incredible evidence that a project could advance.

999
01:12:39.119 --> 01:12:41.960
<v Speaker 21>What gives proponents of these projects who are apparently saying

1000
01:12:42.000 --> 01:12:45.960
<v Speaker 21>they could potentially deliver this within five years the kind

1001
01:12:46.000 --> 01:12:49.920
<v Speaker 21>of confidence that the belief that this could potentially be different,

1002
01:12:49.960 --> 01:12:52.720
<v Speaker 21>that we could see a project advance that involves shipping

1003
01:12:52.880 --> 01:12:55.039
<v Speaker 21>Canadian ergy energy across the Atlantic.

1004
01:13:01.239 --> 01:13:06.399
<v Speaker 22>I'll speak about what I heard and what Canadian LNG

1005
01:13:06.800 --> 01:13:12.439
<v Speaker 22>producers heard, and I'll caveat this by saying, as I

1006
01:13:12.640 --> 01:13:15.920
<v Speaker 22>in my private sector life build projects, what you do

1007
01:13:16.119 --> 01:13:18.439
<v Speaker 22>to decide whether there's need of a project is talk

1008
01:13:18.520 --> 01:13:22.520
<v Speaker 22>to your customers. What we heard loud and clear from

1009
01:13:22.680 --> 01:13:27.720
<v Speaker 22>German LNG buyers and LNG users.

1010
01:13:28.680 --> 01:13:33.920
<v Speaker 7>Is they believe there is demand and they want to

1011
01:13:34.039 --> 01:13:37.279
<v Speaker 7>buy our products. What we heard.

1012
01:13:38.680 --> 01:13:44.600
<v Speaker 22>Very clearly from a number of German LNG buyers and

1013
01:13:44.760 --> 01:13:48.479
<v Speaker 22>users and from the German government is while they believe

1014
01:13:49.680 --> 01:13:53.640
<v Speaker 22>natural gas is a transition fuel, what they have come

1015
01:13:53.720 --> 01:13:59.039
<v Speaker 22>to realize over the last several years, given the geopolitical uncertainty,

1016
01:14:00.000 --> 01:14:05.960
<v Speaker 22>given the rapidly increasing demand for electricity, partially driven by

1017
01:14:06.640 --> 01:14:10.760
<v Speaker 22>the AI Revolution, is that they will need more of

1018
01:14:10.880 --> 01:14:13.680
<v Speaker 22>that transition fuel than they thought a few years ago.

1019
01:14:14.279 --> 01:14:16.960
<v Speaker 22>They will need materially more than they thought a few

1020
01:14:17.039 --> 01:14:20.359
<v Speaker 22>years ago, and they will need it for longer than

1021
01:14:20.399 --> 01:14:23.079
<v Speaker 22>they believed a few years ago. That was a message

1022
01:14:23.720 --> 01:14:30.439
<v Speaker 22>we heard consistently from German buyers of energy and users

1023
01:14:30.479 --> 01:14:36.920
<v Speaker 22>of energy and from the German government. We had four

1024
01:14:37.079 --> 01:14:42.560
<v Speaker 22>different Canadian energy projects that are at various stages of

1025
01:14:42.920 --> 01:14:47.439
<v Speaker 22>commercial operation over here. All of them were receiving the

1026
01:14:47.520 --> 01:14:54.479
<v Speaker 22>same message from Germans. So in my experience, the best

1027
01:14:54.520 --> 01:14:57.439
<v Speaker 22>way to tell whether there's a demand for something.

1028
01:14:57.199 --> 01:15:00.680
<v Speaker 7>Is to talk to the customers. The customers are saying there's.

1029
01:15:00.560 --> 01:15:08.560
<v Speaker 23>Demand, Thank you, Megan. Next we will go to Katherine Levec.

1030
01:15:12.399 --> 01:15:17.319
<v Speaker 25>Hime Minister Catherine Levec from the National Post. You said

1031
01:15:17.399 --> 01:15:20.840
<v Speaker 25>the Major Project's Office will be launching later this week.

1032
01:15:21.600 --> 01:15:25.600
<v Speaker 25>Could you clarify which date exactly, who will be in

1033
01:15:25.720 --> 01:15:29.239
<v Speaker 25>charge of this office and does the government have a

1034
01:15:29.319 --> 01:15:31.920
<v Speaker 25>list already ready to go or will this be more

1035
01:15:31.920 --> 01:15:34.920
<v Speaker 25>of a piecemeal approach where you're going to be announcing

1036
01:15:35.479 --> 01:15:37.840
<v Speaker 25>you know, port, infrastructure and just a few projects at

1037
01:15:37.880 --> 01:15:38.199
<v Speaker 25>a time.

1038
01:15:38.439 --> 01:15:38.680
<v Speaker 7>Thank you.

1039
01:15:42.479 --> 01:15:44.279
<v Speaker 22>So I always learned not to jump in front of

1040
01:15:44.359 --> 01:15:47.800
<v Speaker 22>your boss. My boss has said that it will be

1041
01:15:48.520 --> 01:15:51.760
<v Speaker 22>announced later this week. Today's Wednesday, so it'll either be

1042
01:15:51.880 --> 01:15:52.880
<v Speaker 22>Thursday or Friday.

1043
01:15:54.840 --> 01:15:55.720
<v Speaker 7>In terms of.

1044
01:15:58.439 --> 01:16:01.800
<v Speaker 22>Major projects, the Prime Minister has said he would expect

1045
01:16:01.840 --> 01:16:03.760
<v Speaker 22>there to be announcement at some point in the next

1046
01:16:03.840 --> 01:16:09.319
<v Speaker 22>two weeks. I think that's a pretty good guidance for you.

1047
01:16:10.880 --> 01:16:15.800
<v Speaker 22>I'm not going to go further than that, so I'm

1048
01:16:15.840 --> 01:16:20.319
<v Speaker 22>hopeful you will be quite pleased on Thursday or Friday

1049
01:16:20.439 --> 01:16:27.239
<v Speaker 22>with the announcement of the launch of the Major Project's Office,

1050
01:16:27.439 --> 01:16:30.159
<v Speaker 22>the leadership of the Major Project's Office and the plans

1051
01:16:30.239 --> 01:16:33.119
<v Speaker 22>for it, and I would expect over the next two

1052
01:16:33.199 --> 01:16:35.640
<v Speaker 22>weeks the first projects.

1053
01:16:35.279 --> 01:16:35.960
<v Speaker 7>To be announced.

1054
01:16:40.039 --> 01:16:42.880
<v Speaker 23>Thanks Catherine. Next we'll go to David young Gren with writers.

1055
01:16:46.760 --> 01:16:48.560
<v Speaker 14>Yes, good afternoon. Thank you for doing this.

1056
01:16:49.319 --> 01:16:52.079
<v Speaker 26>Given the long list of hurdles that you and others

1057
01:16:52.159 --> 01:16:56.680
<v Speaker 26>have enunciated about getting LERG to Europe. I mean, how

1058
01:16:56.800 --> 01:17:00.720
<v Speaker 26>realistic is it to expect Canada we'll be exporting l Europe,

1059
01:17:00.960 --> 01:17:03.840
<v Speaker 26>not just anytime soon, but anytime ever.

1060
01:17:09.840 --> 01:17:10.880
<v Speaker 7>I can tell you that.

1061
01:17:12.800 --> 01:17:17.800
<v Speaker 22>Many of the buyers are prepared to buy LNG off

1062
01:17:17.880 --> 01:17:24.439
<v Speaker 22>the West coast of Canada and trade those products in

1063
01:17:24.640 --> 01:17:26.720
<v Speaker 22>the international market for LNG.

1064
01:17:27.560 --> 01:17:31.880
<v Speaker 7>That was something that was a really important learning experience

1065
01:17:32.000 --> 01:17:32.239
<v Speaker 7>for me.

1066
01:17:34.039 --> 01:17:39.600
<v Speaker 22>Many of the buyers have trading operations in North America,

1067
01:17:40.039 --> 01:17:43.039
<v Speaker 22>in Asia and in Europe, and they will swap cargoes,

1068
01:17:43.960 --> 01:17:46.640
<v Speaker 22>and so they can buy cargoes on the West Coast

1069
01:17:47.479 --> 01:17:51.880
<v Speaker 22>and swap those cargoes for cargoes in Europe, and so

1070
01:17:52.199 --> 01:17:58.600
<v Speaker 22>German companies today are looking at buying West Coast LNG

1071
01:17:58.960 --> 01:18:02.840
<v Speaker 22>and swapping it for deliveries into Europe so that they

1072
01:18:02.920 --> 01:18:07.600
<v Speaker 22>can take advantage of our production on the West Coast to.

1073
01:18:07.680 --> 01:18:11.920
<v Speaker 7>Supply German needs in the Atlantic.

1074
01:18:13.039 --> 01:18:18.279
<v Speaker 22>As we move forward and projects move through the One

1075
01:18:18.399 --> 01:18:22.000
<v Speaker 22>Project One review, and if they're projects of national interests

1076
01:18:22.279 --> 01:18:26.399
<v Speaker 22>were through the Major Project's Office, we are confident we

1077
01:18:26.520 --> 01:18:30.680
<v Speaker 22>can get to a place where the right projects, with

1078
01:18:31.399 --> 01:18:36.840
<v Speaker 22>strong proponents and with the support of provinces and First nations,

1079
01:18:37.800 --> 01:18:40.840
<v Speaker 22>we will get those through. And I would just point

1080
01:18:40.880 --> 01:18:42.800
<v Speaker 22>out to you when you look at the projects in

1081
01:18:42.880 --> 01:18:47.920
<v Speaker 22>British Columbia, they have the support of the province, they

1082
01:18:48.079 --> 01:18:51.479
<v Speaker 22>have the support of First Nations, and I expect that

1083
01:18:51.600 --> 01:18:54.000
<v Speaker 22>to be the case for several other projects as well.

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01:19:22.359 --> 01:19:27.199
<v Speaker 1>The show has been produced by Depictions Media. Please contact

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01:19:27.319 --> 01:19:31.119
<v Speaker 1>us at Depictions dot media for more information.