09/30/2025
September 30 is the National Day for Truth and Reconciliation, an opportunity for us to ponder the relationship between Indigenous and Non-Indigenous peoples and how we can best work together to overcome a difficult past and build a stronger future.
It’s encouraging that reconciliation became a national priority over the last decade. But it’s disappointing how many government commitments remain unfulfilled. Thirty-nine long-term drinking water advisories remain in place. Despite a promise to close the infrastructure gap by 2030, there has never been a plan to invest or prioritize the $350 billion needed. We’ve seen record amounts budgeted and approved by Parliament for services to First Nation, Métis and Inuit communities, for settling claims, and for implementing Treaties, but we’ve also seen $50 billion of that money go unspent over the last decade. That $50 billion could have built a lot of houses, health centres, and new schools.
One of the few things the government has actually got right is the creation – at the urging of and in full partnership with Indigenous communities – of a number of national institutions. The First Nations Financial Management Board, the First Nations Finance Authority, the First Nations Tax Commission and more recently the First Nations Infrastructure Insitute are all First Nation-controlled and -led entities that lay a strong foundation for governance, project management, and access to capital markets. Working together, they have raised and invested billions of dollars in vital infrastructure and economic development – completely independently of the federal government. While they currently only involve First Nations, there is no practical reason that they couldn’t expand to incorporate Métis and Inuit communities as well.
Rather than not spending funds that Parliament has appropriated, the government could invest in and boost these institutions. Billions of dollars could be raised in private capital markets and invested for maximum impact. All of this could be done while ensuring that funds voted by Parliament are used responsibly and actually have the intended effect. And because the institutions report and are answerable to communities, they can be respond to real community priorities.
There’s been speculation about potential budget cuts and what these could mean for ISC and CIRNA. But let’s think bigger than that. The Indigenous institutions have the ability to front-load investment – the dollars they can raise in capital markets and invest in communities today would more than make up for short- or medium-term federal spending distruptions. The Prime Minister’s mantra of “spend less to invest more” could be brought to life.
Reconciliation means working with Indigenous communities to improve lives and build prosperity. What better way to achieve this than working with and through Indigenous institutions?
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