November 8, 2022 Toronto, Ontario Employment and Social Development Canada
In the recent 2022 Fall Economic Statement, the Government of Canada highlighted its plan to continue its sound stewardship of the economy and to be there for Canadians. To help families cope with increasing costs, like rising prices at the checkout counter, the government is delivering targeted support to the Canadians who need it the most, including by: doubling the GST Credit for 11 million eligible Canadians; enhancing the Canada Workers Benefit to support 4.2 million Canadians; and making federal student and apprentice loans permanently interest free for the graduates of today and tomorrow.
Today, Minister of Families, Children and Social Development, Karina Gould, met with staff and Early Chilhoood Educators at George Brown College's Early Childhood Education Program to highlight how the government is making life more affordable for millions of Canadians, including through cutting regulated child care fees in half on average for families in Canada by the end of this year. This is a result of an investment of more than $27 billion over five years as part of Budget 2021 to build a Canada-wide early learning and child care system with provinces and territories.
The government is also moving forward with its comprehensive plan to make housing more affordable, including by helping people save to buy a home and by cracking down on house flipping. And it lays out an ambitious plan to strengthen industry and build a thriving net-zero economy with opportunities and jobs.
The Canadian economy faces global headwinds from a position of fundamental strength: an unemployment rate near its record low-over 500,000 more Canadians are working today than before the pandemic-the strongest economic growth in the G7 this year, a triple-A credit rating, and the lowest net debt- and deficit-to-GDP ratios in the G7. Canadians should be confident that we will overcome any hurdles and prosper in the days ahead.
