January 22, 2019 – Toronto, Ontario – Department of Finance Canada
Even as Canada’s strong economy is creating opportunities for Canada’s middle class and people working hard to join it, more work remains to be done to ensure that every Canadian has a real and fair chance at success.
Today, Finance Minister Bill Morneau spoke with members of the Aurora, Newmarket and Vaughan Chambers of Commerce, highlighting Canada’s economic strengths and the Government’s continuing efforts to build an economy that works for everyone. With its focus on creating good, well-paying jobs for the middle class and delivering long-term economic growth, the Government’s plan is clear—and it’s working.
In his remarks, the Minister addressed some of the worries of middle class Canadians, from the daily cost of living to the reality of climate change. He touched on the Government’s actions to address these concerns—including the middle class tax cut, the Canada Child Benefit, investments in building strong communities, and new international trade deals—and emphasized the importance of having a clear and predictable plan that businesses can rely on as they invest to create more jobs for Canadian workers.
“Our Government is listening to Canadians and responding to their concerns with a practical and responsible plan to keep our economy strong and growing. It includes giving businesses the help they need to compete, succeed, and create more good, well-paying jobs for Canadians—the kind of jobs you can raise a family on. There is much more work to be done, and we’re looking forward to continuing to deliver real results for middle class families.”
– Bill Morneau, Minister of Finance
Canada is making historic investments in infrastructure, innovation, science and research, and skills development and training.
Canada has secured new and modernized trade agreements that will mean even greater economic opportunities for Canadians in the years ahead.
The Government has also made a commitment to gender equality, which will foster growth in Canadian businesses as well.
The Government cut the small business tax rate to 10 per cent, effective January 1, 2018, and as of January 1, 2019, further reduced it to 9 per cent.
During the past three years, hard-working Canadians have created more than 800,000 new jobs, pushing the unemployment rate to its lowest level in over 40 years.
Wages are rising at their fastest rate in eight years, and this year Canada is expected to remain among the fastest-growing economies in the G7.