The government has a plan to make smart, targeted investments to jumpstart the country's economic recovery and increase the affordability of everyday life for Canadians so that Canada can come roaring back after the pandemic.
That's why, today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, met virtually with a diverse group of Canadians to discuss what matters most to them and to hear their ideas about how Budget 2021 can support people and businesses through the pandemic, make life more affordable in their communities, and help Canada build back better.
During this roundtable discussion, the Minister, joined by Marci Ien, Member of Parliament for Toronto Centre, heard from stakeholders about the very real challenges they are facing during the pandemic and the investment opportunities in their communities to create jobs for workers. Minister Fortier also asked participants to share their ideas and priorities for how the government can best invest in Canada's economy to increase affordability in a range of areas, from housing to child care.
The government is not simply aiming to get back to where Canada was before COVID-19. The pandemic has exposed critical gaps in our social safety net and the economic impact has hit certain sectors and groups of people harder than others - including seniors, women, low wage workers, young people, people of colour and Indigenous peoples. By working together, we will build a stronger, more resilient middle class and grow an economy that improves the lives of every single person in Canada. Budget 2021 will be among the most significant in Canadian history.
All Canadians are invited to share their ideas through an online questionnaire at LetsTalkBudget2021.ca, which will be available until February 19, 2021.
Quotes
"Since the onset of the pandemic, our government has been there to support Canadians through a suite of important measures to help workers, families, seniors, persons with disabilities, students, Indigenous groups and employers weather the storm. The investments our government will make through Budget 2021 as part of our growth plan will build on this work and continue to invest in Canadians and strengthen the middle class, so that all Canadians can benefit from a strong economic recovery that is resilient, inclusive and fair."
The Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance
Quick facts
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More than eight of every 10 dollars spent in Canada to fight COVID-19 and support Canadians has been spent by the federal government and this unprecedented support has prevented economic scarring and stabilized the economy.
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This includes programs like the Canada Emergency Wage Subsidy and the Canada Emergency Business Account, which were put in place to protect jobs through this crisis.
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To continue supporting workers and businesses, the Government of Canada has increased the maximum base wage subsidy rate to 75 per cent, expanded the Canada Emergency Business Account, and launched the Canada Emergency Rent Subsidy and Lockdown Support for businesses, among many other measures.
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With the Canada Recovery Benefit, Canada Emergency Sickness Benefit, and Canada Emergency Caregiver Benefit, the government is continuing to support workers in need who do not qualify for EI, and providing new support that will allow Canadians to stay home when they are sick, or to take care of loved ones who are impacted by the virus.
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Once the virus is under control, the Government of Canada will invest in a growth plan of roughly three to four per cent of GDP, between up to $70 and $100 billion, over three years, to jumpstart our recovery.
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Key to this stimulus plan will be smart, time-limited investments that can act fast and make a long-run contribution to Canada's future shared prosperity, quality of life, competitiveness, and green transformation.
