Today, the Minister of Transport, the Honourable Omar Alghabra, was in Scarborough to highlight Budget 2023's investments in making life more affordable.
Canada has made a remarkable recovery from the COVID-19 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 361,600 in Ontario. 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 childcare, the labour force participation rate for women aged 25 to 54 reached at 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. 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. On average, it will help vulnerable people put more affordable food on the table by providing up to an additional $467 for eligible couples with children; an additional $234 for single Canadians without children; and an additional $225 for seniors.
Ensuring that Canadians receive affordable goods on time is essential. Canada's transportation supply chains play a critical role in our economy in enabling our businesses to move their products to ensure timely access to goods. Budget 2023 acknowledges the need to mitigate vulnerabilities in our supply chains through targeted investments including $27 million over five years to establish a Transportation Supply Chain Office. The Supply Chain Office will work in collaboration with industry to respond to disruptions and better coordinate action to increase the capacity, efficiency, and reliability of Canada's transportation supply chain infrastructure. Strengthening Canada's supply chain will help keep money in Canadians pockets and contribute towards building an economy that works for everyone.
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.
