News Release Article from  Finance Canada

Minister Morneau Highlights Investments in Canadians to International Financial Leaders

Finance Minister  Bill Morneau today spoke with investors and business leaders about the  Government’s approach to revitalize the Canadian economy and the benefits of  growing the middle class.

At his first  international event following the release of the 2016 federal budget, Minister  Morneau spoke at a luncheon hosted by the Canadian Association of New York. The  luncheon was attended by international business leaders and investors, who  heard the Minister outline the Government’s vision to make Canada a global  innovation leader. This vision includes improving opportunities for the  country’s creative entrepreneurs and innovative companies to grow their  businesses and enter global markets.

The Minister highlighted the Government’s efforts to strengthen the  middle class through tax cuts announced in December 2015 and through the  proposed Canada Child Benefit. These measures will put more money in the  pockets of 9 out of 10 Canadian families. When combined with strategic long-term  investments in infrastructure that take advantage of Canada’s enviably low net debt-to-GDP  (gross domestic product) ratio, it is clear that Canada has both the capacity  and the willingness to act now to ensure a better future for this and future  generations.

The  Government of Canada will implement an historic plan to invest more than $120 billion  in infrastructure over 10 years, to better meet the needs of Canadians and  better position Canada’s economy for the future.

Budget 2016 will also help young Canadians succeed  by providing $1.53 billion over five years to low- and middle-income students  through the Canada Student Grant. The  Government of Canada supports an open trade and investment environment that  allows firms to become more competitive and provides better jobs for the middle  class. Canada is committed to ambitious action on climate  change, and is focused on the economic opportunities of our environment and  creating the clean energy jobs of tomorrow.

Quote

"Canada is at a unique moment in our history where we have both the capacity and the willingness to act. There has never been a better time to invest in Canada. Through Budget 2016, the Government is investing in a future where our children and grandchildren can be confident they will inherit a country even greater than the one their parents built." 

- Bill Morneau, Minister of Finance

Quick Facts

  • Canada has the lowest net debt-to-GDP  ratio of any G7 country, and interest rates are at historic lows.
  • Through investments totalling $50  billion over the next six years—and the middle class tax cut introduced in  December 2015—Budget 2016 will help raise the level of real GDP over the next  two years by 1 per cent.
  • Canadian  families benefiting from the Canada Child Benefit will see an average increase  in child benefits of almost $2,300 in 2016–17.

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Media Contacts

Annie Donolo   Press Secretary   Office of the Minister of Finance 613-369-5696

Jack Aubry   Media Relations   Department of Finance 613-369-4000


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