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00:00Yes, the probability of a recession in the United States has gone up significantly, and
00:13I take no joy in that it becoming more likely.
00:17That will have significant effects on the Canadian economy.
00:20It's very hard for us to avoid that.
00:23We can give ourselves far more than the U.S. can take away.
00:27So the U.S. is driving itself into a recession, pressure on the world if the U.S. doesn't
00:33change course.
00:35But what we can control is where we invest here, how we support our people, and that's
00:39what we're doing.
00:44First off, I'll say I did speak to the Governor of the Bank of Canada today.
00:48I spoke to the Minister of Finance.
00:49I spoke to a number of counterparts in the last 24 hours around the world, including,
00:54as you know, Prime Minister Starmer.
00:58At present, let me say a few things and get the heart of it.
01:02What you worry about in these types of situations if you are charged with overseeing financial
01:06markets is, are there problems that are being created by the markets themselves, the banks
01:13themselves?
01:14Are there weaknesses?
01:15We do not see that.
01:16We have rock-solid financial institutions in this country, so they're not making it
01:19worse.
01:21I have confidence in the Governor of the Bank of Canada, the Minister of Finance, they're
01:26on top of it, and I also have confidence in Canadian institutions.
01:30So Canadians can be reassured on that.
01:40We cannot afford a fourth Liberal term of Mark Carney driving up spending, money printing,
01:47taxes and inflation while blocking our resource projects.
01:51We cannot afford that risk.
01:53We need a new Conservative government for a change that will axe taxes, greenlight construction
01:59of homes, mines, pipelines, LNG plants, bring home our jobs, so that we can reinforce our
02:05economic fortress against the Americans.