Minister Morneau Updates Plan for Middle Class Progress
November 1, 2016 – Ottawa, Ontario – Department of Finance Canada
When the middle class does well, everyone does well. That is why the Government of Canada is committed to making smart and necessary investments that will revitalize the Canadian economy, spur long-term growth and strengthen the middle class.
As the pace of change accelerates, and the global economy transforms, Canada must turn its sights on the future and provide families with the confidence, the tools and the opportunities to succeed. The government has both the capacity and the willingness to act to make the future better for our children and our grandchildren.
International financial organizations such as the International Monetary Fund have praised Canada’s expanded use of fiscal policy to bolster growth in light of the weak and challenging global economic environment.
The Plan for Middle Class Progress is designed to provide jobs and opportunities for middle class Canadians well into the future. Moreover, it is built on a solid foundation of economic security and stability, and follows a path that is responsible and sustainable, against a backdrop of global economic change.
In today’s Fall Economic Statement, Finance Minister Bill Morneau announced new measures to ensure middle class progress, and build on the momentum of Budget 2016, and on investments over the past year.
- Investing an additional $81 billion in public transit, green and social infrastructure, transportation infrastructure that supports trade, as well as in rural and northern communities to bring Canadians good jobs, a cleaner environment and thriving communities for years to come;
- Creating a Global Skills Strategy, supported by improvements to Canada’s immigration system, to help Canadian and international companies access the talent and skills they need to grow and succeed in Canada;
- Creating the Invest in Canada Hub, staffed with a dedicated high-impact sales force to promote Canada, and to work with global companies to increase investment that will benefit Canadians; and
- Strengthening the independence of Statistics Canada and the Parliamentary Budget Officer to provide fair and unbiased evidence and analysis, and make government more open and transparent.
The government is committed to investing in inclusive and sustainable growth in a fiscally responsible manner that maintains Canada’s low debt advantage. As it looks ahead to Budget 2017, the government continues to focus on its plan to strengthen the middle class and improve growth—a plan that is about taking bold action that will allow Canada’s economy to prosper over the long term. This plan will continue to be informed by recommendations of the Advisory Council on Economic Growth, which brings together 14 of the best minds with a truly global perspective.
“Now, more than ever, it is important for Canada to create opportunities that better position our country in the global economy of tomorrow. To succeed, we need to ensure that the benefits of growth are shared by the middle class and by all Canadians. Now is the time to invest in people, in innovation and in infrastructure, so that we can build long-term growth for middle class families, their children and grandchildren, and put Canada on the road to long-term prosperity.”
- Bill Morneau, Minister of Finance
- Fall Economic Statement
- Backgrounder: A Transformational Infrastructure Plan
- Backgrounder: Canada’s Global Skills Strategy
- Backgrounder: Creating Jobs and Prosperity for the Middle Class
- Backgrounder: Building a More Open and Transparent Government
- Speech: A Plan for Middle Class Progress - Fall Economic Statement
- Budget 2017 Consultations
Office of the Minister of Finance
Department of Finance Canada
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