In 2015, Canadians chose a plan for the economy that would invest in the middle class and offer real help to people working hard to join it. In the years since, that plan has helped create more than a million new jobs and helped put more money in the pockets of hard-working Canadians-driving national unemployment and poverty rates to historic lows.
Today, Finance Minister Bill Morneau spoke at the International Economic Forum of the Americas in Montréal, where he discussed Canadian competitiveness and the importance of investing in middle class jobs.
Minister Morneau highlighted government measures that are helping more people find and keep good jobs-including the introduction of the new Canada Training Benefit, which will make it easier for working Canadians to get the skills they need to succeed in a changing economy. He also shared what the Government has done to help Canadian businesses compete and succeed: like allowing businesses to write off capital investments sooner, and securing comprehensive free trade agreements that give Canadian businesses access to nearly two-thirds of the global economy.
Minister Morneau told conference attendees that despite the global challenges to trade and the constantly evolving nature of work, the Government will continue to invest in the things that matter most to Canadians: good, well-paying jobs for the middle class and people working hard to join it; more help for families struggling with the high cost of living; strong, connected communities; and better opportunities for our children and grandchildren. That’s why Budget 2019 included new investments to help make life more affordable for more Canadians.
“Our plan for economic growth is delivering results for families and businesses across the country. Thanks to the hard work of Canadians, more than one million jobs have been created since late 2015, pushing unemployment to the lowest level on record. Still, in this changing world, there’s more we can and should do to help Canadians feel confident about the future, whether they are a young family looking to buy their first home, an experienced worker looking to learn new skills, or a senior looking to retire with confidence.”
– Bill Morneau, Minister of Finance
The Labour Force Survey confirmed that Canadians have created 27,700 full-time jobs in May, and over one million jobs since November 2015.
Foreign direct investment to Canada was $55 billion in 2018, up $23 billion from the year before.
Canada has the lowest net debt-to-GDP (gross domestic product) ratio among G7 countries, and is expected to be the second-fastest-growing G7 economy over 2019 and 2020.
Thanks in part to a number of government investments, Canada has achieved its targeted 20 per cent reduction of poverty three years ahead of schedule, lifting over 825,000 Canadians out of poverty compared to 2015.