A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow the economy, and build a Canada where nobody gets left behind.
Today, the Honourable Marci Ien, Minister for Women and Gender Equality and Youth, was joined by Peter Leclaire, Vice President Academic from the Northern Alberta Institute of Technology (NAIT), to highlight investments that will create good jobs and build a strong economy.
Budget 2022 investments will ensure Canadian workers have the skills they need to engage in good-paying jobs that grow our economy and foster inclusive communities.
Budget 2022 also invests in economic growth and innovation-the key to Canada's long-term prosperity. Budget measures include:
- 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
- $625 million over four years for the Early Learning and Child Care Infrastructure Fund to support provinces and territories to make additional childcare investments
- $84.2 million over four years for the Union Training and Innovation Program, which will help apprentices from underrepresented groups
- Implementing Canada's first Critical Minerals Strategy that will create thousands of good jobs and capitalize on a growing need for the minerals used in everything from phones to electric cars
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, has 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 maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government'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.
