Vancouver, BC - Today the Minister of Fisheries, Oceans and the Canadian Coast Guard, the Honourable Joyce Murray, visited an IGA in Vancouver to highlight Budget 2023's investments to make life more affordable, including a new grocery rebate.
Canada has made a 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, including 110,300 here in British Columbia. Inflation in Canada has fallen for eight months in a row, our unemployment rate is near its record low, and, supported by our Canada-wide system of affordable early learning and child care, the labour force participation rate for women aged 25 to 54 reached a record high of 85.7 per cent in February.
Budget 2023 builds on this important progress.
Groceries are more expensive today, and for many Canadians, higher prices on essential goods are causing undue stress. In Budget 2023, the federal government is providing new, targeted inflation relief to the Canadians hardest hit by rising food prices.
To make life more affordable, Budget 2023 delivers the new Grocery Rebate, offering targeted inflation relief for 11 million Canadians and families who need it most, with up to an additional $467 for eligible couples with children; an additional $234 for single Canadians without children; and an additional $225 for seniors, on average. The Government is also taking action to crack down on junk fees and predatory lending, lower credit card transaction fees for small businesses, and help Canadians keep more money in their pockets.
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 secure, more sustainable, and more affordable for people from coast to coast to coast.
Budget 2023 reflects the Government's commitment to building a stronger, more inclusive economy and providing targeted support to those who need it most. The one-time Grocery Rebate is an important step in providing relief to Canadians and families.
