A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada will make targeted and responsible investments to create good jobs, grow the economy, and build a Canada where nobody gets left behind.
Today, Iqwinder Gaheer, Member of Parliament of Mississauga-Malton and the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, met with Panela Baking Factory to highlight the government's plan to grow the economy, create good middle-class jobs and show support for small and medium businesses as they grow.
Budget 2022 proposes launching a new world-leading Canada Growth Fund that will attract tens of billions of dollars in private investment in Canadian industries and Canadian jobs and a new innovation and investment agency that will help drive productivity and growth across our economy. The Budget also includes steps to build more resilient supply chains and cut taxes for Canada's growing small and medium businesses.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries - an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7 and, as of March 2022, had recovered 115 percent of the jobs lost at the height of the pandemic with an unemployment rate that sits at just 5.3 percent - the lowest rate on record since 1976.
With Budget 2022, Canada will maintain this leading position and its fiscally responsible approach by supporting economic growth and building an economy that works for everyone. Crucially, it upholds the Government of Canada's fiscal anchor - a declining debt-to-GDP ratio and the unwinding of COVID-19 related deficits, which will ensure that Canada's finances remain sustainable in the long term.
