Today, Minister of Middle Class Prosperity and Associate Minister of Finance, the Honourable Mona Fortier, continued her cross-country virtual Budget 2021 tour in Mississauga. She delivered a keynote speech at the Mississauga Board of Trade, met with members of the Canadian Small Business Women Network, and hosted a 905 Youth Council town hall.
The government’s growth plan puts people first. Budget 2021 is about meeting the urgent needs of today, and about building for the long-term. It is a budget focused on middle class Canadians, and on pulling more Canadians up into the middle class.
The pandemic has laid bare long-standing inequities in our economy. Budget 2021 is an inclusive plan that takes action to break down barriers to full economic participation for all Canadians. This includes supporting more than 35,000 affordable homes, especially for the most vulnerable Canadians; taking action to end gender-based violence; ensuring Canada has one of the largest support packages for youth in the world; supporting entrepreneurs from diverse groups; addressing systemic racism in our society; and making historic investments in Indigenous peoples and reconciliation. Budget 2021 also proposes a generational investment in early learning and child care that will allow both mothers and fathers to work, thus increasing our workforce and boosting our growth.
Budget 2021 also proposes to enhance the Canada Workers Benefit, to invest $8.9 billion over six years in additional support for low-wage workers – extending support to about a million more Canadians and lifting nearly 100,000 people out of poverty. It is a plan to bridge Canadians and Canadian businesses through the crisis and towards a robust recovery, and puts Canada on track to meet its commitment to create one million jobs by the end of the year.
“We will continue to stand with the people of Mississauga, as we get through this third wave together. When our economy is ready to reopen, our government has a plan to create jobs, and get more Canadians back to work. Budget 2021 is a plan for inclusive growth that benefits everyone.”
Minister of Middle Class Prosperity and Associate Minister of Finance, the Honourable Mona Fortier
Budget 2021 includes $101.4 billion over three years in proposed investments as part of the Government of Canada’s growth plan that will create good jobs and support a resilient and inclusive recovery. Key measures include:
- Establishing a Canada-wide early learning and child care system, in partnership with provincial, territorial, and Indigenous partners, which will help all families access affordable, high-quality, and flexible child care no matter where they live, and no longer shoulder the burden of high child care costs. The budget proposes new investments totalling almost $30 billion over the next five years. Combined with previous investments, a minimum of $9.2 billion per year ongoing will be invested in child care, starting in 2025-26.
- Enhancing Employment Insurance sickness benefits from 15 to 26 weeks.
- Increasing Old Age Security for seniors age 75 and older to provide them with better financial security.
- Revitalizing Canada’s tourism sector through $1 billion to help tourism businesses recover and support festivals and cultural events that provide jobs and growth in many of our cities and communities.
- Supporting women, Black Canadians, and other underrepresented entrepreneurs who face barriers to launching and owning businesses through $300 million to enhance initiatives like the Black Entrepreneurship Program and the Women Entrepreneurship Strategy.
- Establishing a $15 federal minimum wage.
- Enriching the Canada Workers Benefit, which will support about one million more Canadians and lift nearly 100,000 people out of poverty. This will result in additional support of $8.9 billion over six years for Canada’s low-wage workers.
- Investing $298 million over three years, beginning in 2021-22, in a new Skills for Success program that would help Canadians at all skills levels improve their skills.
- Providing $250 million over three years, starting in 2021-22, for an initiative to scale-up proven industry-led, third-party delivered approaches to upskill and redeploy workers to meet the needs of growing industries.
- Helping to build, repair, and support 35,000 affordable housing units for vulnerable Canadians through an investment of $2.5 billion and a reallocation of $1.3 billion in existing funding.
- Closing the gaps between Indigenous and non-Indigenous peoples, supporting healthy, safe, and prosperous Indigenous communities, and advancing meaningful reconciliation with First Nations, Inuit, and the Métis Nation through an historic investment of over $18 billion.