April 8, 2019 – Ottawa, Ontario – Department of Finance Canada
Nearly four years ago, Canadians chose a plan to invest in the middle class and offer real help to people working hard to join it.
Investing in the middle class means investing in people. It means building a better Canada-a stronger, more connected country-with better opportunities for people today, and the promise of a better future.
Building on that plan, Finance Minister Bill Morneau today introduced in the House of Commons Bill C-97, the Budget Implementation Act, 2019, No. 1 (BIA 1), which implements a number of measures proposed in Budget 2019. Today’s legislation proposes new measures to help build a better Canada, and help give middle class Canadians more reasons to feel confident about what the future holds for themselves and their families.
Through BIA 1, the Government would:
- Make homeownership more affordable for first-time buyers by providing greater access to Registered Retirement Savings Plan savings to buy a home, and by implementing the First-Time Home Buyer Incentive, a shared equity mortgage program that would reduce the mortgage payments required to own a home.
- Help workers get the skills they need to find and keep good jobs through the new Canada Training Credit-a personal and portable way to help workers pay for training, and an important part of the new Canada Training Benefit.
- Make education more affordable for Canadians by making the six-month grace period interest-free after a student borrower leaves school.
- Support low-income seniors by enhancing the Guaranteed Income Supplement earnings exemption, so that working seniors can take home more money while they work.
- Lower Canadians’ energy costs by increasing energy efficiency in residential, commercial and multi-unit buildings in partnership with the Federation of Canadian Municipalities.
- Enhance support for innovation by improving the Scientific Research and Experimental Development Tax Incentive Program for growing innovative firms.
- Support local infrastructure priorities by providing a one-time top-up of $2.2 billion, doubling the federal municipal infrastructure commitment in 2018-19. This will help municipalities and First Nations communities pay for crucial repairs and other important local projects.
“The Government of Canada has listened to Canadians and as a result we are investing in the things that matter most to them: good jobs, strong communities, a clean environment, and better opportunities for future generations. We’re continuing to work hard to build an economy that works for everyone, with investments that grow our economy today – and for the long term.”
– Bill Morneau, Minister of Finance