The Minister of Public Safety, the Honourable Marco Mendicino, today visited Nano One Materials in Burnaby to discuss Budget 2023's investments in creating good jobs and growing a clean economy. Delivered on March 28 by Deputy Prime Minister Freeland, Budget 2023 is a Made-in-Canada plan to lower costs for Canadians, invest in health and dental care and create jobs in our communities.
Creating jobs and opportunities in British Columbia
To fight climate change and create opportunities for Canadians, Budget 2023 includes measures that will deliver clean and affordable energy, support investment in our communities and create good paying jobs. To accelerate investments in clean technology, the Budget proposes a refundable tax credit equal to 30 per cent of the cost of investments in the machinery used to manufacture key clean technologies. This clean economy will be worker-driven, creating good union jobs in communities across Canada.
Budget 2023 is also focused on making life for affordable for Canadians, headlined by the new Grocery Rebate. This targeted inflation relief will put $467 back in the pockets of eligible families with children. The government is also taking action to crack down on junk fees and predatory lending, lower credit card fees for small businesses and launching new tools to help low-income Canadians receive the tax benefits they are entitled to.
The Budget makes significant investments in Canada's universal public health care system, including $28.56 billion here in British Columbia. This funding will reduce backlogs and expand access to family health services. Budget 2023 also introduces a new Canadian Dental Care Plan, ensuring no Canadian has to choose between taking care of their teeth and paying the bills.
Building on our success
Budget 2023 builds on Canada's remarkable recovery from the COVID recession. Canada's economic growth was the strongest in the G7 over the last year and today 830,000 more Canadians are employed than before the pandemic. Inflation has fallen for eight months in a row, our unemployment rate is near its record low at 5%. Supported by a national system of affordable early learning and child care, labour force participation for women aged 25 to 54 reached at a record high of 85.7 per cent in February.
With a responsible fiscal plan that will see Canada maintain the lowest deficit and the lowest net debt-to-GDP ratio in the G7, Budget 2023 will help to build a Canada that is more affordable and sustainable from coast to coast to coast.
