Since 2015, hardworking Canadians have confirmed what they have always known: a strong economy begins with a strong middle class.
Nearly four years ago, Canadians chose to invest in the middle class and offer real help to people who work hard to join the middle class.
Investing in the middle class means investing in the citizen-providing more help to those who need it, and a little more help to those who don’t. It means building a better Canada — a stronger, more connected country — and it means that people today have better opportunities and hope for a better future, even in the face of a changing world.
The government’s investment in the middle class has paid off. The economy is strong and growing, more canadians are in work and families have more money to save or spend each month.
Building on this momentum, Treasury secretary Bill Morneau today proposed the 2019 budget – investing in the middle class.
Through the 2019 budget, the government continues to invest in a fiscally responsible way to promote long-term economic growth — ensuring that the federal debt to GDP ratio continues to decline steadily.
the 2019 budget, the Canadian government proposes:
First Time Home Buyer Incentive, a shared-equity mortgage plan, will reduce the amount of mortgage payments needed to own a Home. And let them use more of their RRSP savings to buy homes.
To help workers acquire new skills and create a new “Canada Training Benefit,” which will pay workers for Training, provide income support during Training, and will work with provinces and regions to provide job protection so workers can take the time to keep their skills up to date with the workplace and demand.
To help young canadians prepare for quality employment, make education more affordable by lowering Canadian student loan rates and providing a six-month zero-interest grace period for school-leavers, and create up to 84,000 student internships per year by 2023-24.
First, create a new “Canadian Drug Agency”, which can reduce the Drug cost of canadians by 3 billion yuan every year, and develop a national model for prescription drugs and a national strategy for high-cost drugs for rare diseases.
Support low-income seniors who choose to remain in the labor market and increase the exemption from the income security grant (GIS) so that they can effectively retain more of their hard-earned income.
To support the local government’s key infrastructure projects, the government proposed a one-time supplement of 2.2 billion yuan through the federal gasoline tax fund, doubling the federal government’s infrastructure commitment to local governments compared with 2018-19, and ensuring that local communities have the funds they need to pay for critical maintenance and other important local projects.
Make high-speed Internet available to all canadians, so that all Canadian homes and businesses can access 50 Mbps of high-speed Internet regardless of where they live — including people and businesses in rural, remote and northern communities.
Reduce energy costs for Canadians, increase energy efficiency in residential, commercial, and multipurpose buildings by partnering with a Canadian coalition of local governments, and introduce new incentives to buy battery-powered or hydrogen-powered cars with a suggested retail price of less than $45,000.
Promote reconciliation with indigenous peoples, help improve the quality of life of first nations, Inuit and metis people through faith measures, and invest in improving water quality and promoting indigenous self-determination; Protection, revitalization and promotion of indigenous languages; Improving the quality of education and medical care for indigenous people in culturally appropriate ways; And promoting indigenous entrepreneurs and businesses.
With new investments in the 2019 budget, coupled with tax cuts, greater wealth for the Tibetan people, and more jobs, the middle class has ample reason to be confident in the future of themselves and their families.
Quoted
“Almost four years ago, Canadians chose to invest in what mattered most to them: good, high-paying jobs,” said Bill Morneau, the finance minister. More help for families’ living expenses; A strong, connected community; And better opportunities for our children and grandchildren. These are the priorities of the Canadian people, and they are also the priorities of our government. “Our plan is to invest in the middle class and build a strong economy that benefits the middle class and all canadians, and the fiscal 2019 budget is the next step in our plan.
Fact brief:
Over the past four years, the government has focused on strengthening and strengthening the middle class, and providing real help to those who work hard to join the middle class, so that everyone has a real and fair chance to succeed.
Under the government’s plan, hardworking Canadians have created more than 900,000 new jobs, most of them full-time, bringing the unemployment rate to its lowest level in more than 40 years. Among them, women’s employment growth is particularly strong.
The Canadian Child Benefit has lifted nearly 300,000 children out of poverty by providing more money to 90 percent of Canadian families to help pay for the high cost of raising children.
More than 9 million canadians have benefited from the government’s tax cuts for the middle class, giving them more money to save or spend on things they need.
The enhanced version of the Canadian pension plan will increase CPP maximum retirement benefits by up to 50 percent, providing higher income security for Canadian workers today and tomorrow when they retire.
The government’s historic investment in infrastructure, including a national housing strategy, will help more Canadians find safe and affordable homes.