Minister Morneau in France to Promote Canada's Plan for Growing the Middle Class
March 31, 2016 – Paris, France – Department of Finance
Finance Minister Bill Morneau is in Paris, France, today to promote Canada’s plan for growing the middle class.
During this second international stop on his post-budget tour, the Minister met with French business and financial leaders to highlight key measures from Budget 2016—the cornerstone of which is to grow the middle class by investing in infrastructure, and strengthening families by providing a more generous and better targeted Canada Child Benefit, making post-secondary education more affordable, and improving the Employment Insurance program.
Minister Morneau also shared Canada’s views on enhancing the resilience and stability of the global economy, in line with Canada’s plan to rebuild its international influence and support greater international cooperation.
While attending the High-Level Seminar on the International Financial Architecture, Minister Morneau emphasized the need for the global economic system to remain adaptive to a changing world. He also emphasized that risks and vulnerabilities must be monitored closely and addressed effectively.
“I am pleased to share Canada’s plan for strengthening the middle class with French business and financial leaders. This visit provides me with an opportunity to encourage the international community to work together to build strength and resilience, so that our interconnected global economy can be strong, and the middle class can grow and prosper.”
- Bill Morneau, Minister of Finance
- France, together with the Chinese Presidency of the G20, hosted the High-Level Seminar on the International Financial Architecture on March 31, 2016, in Paris.
- The International Financial Architecture is the framework, measures and institutions—such as the International Monetary Fund—that help prevent and manage economic and financial crises.
- The Paris seminar follows the High-Level Nanjing Conference on the International Monetary System held in 2011 under the French Presidency of the G20 with the support of China.
- Today’s seminar brought together about 60 high-level policymakers such as finance ministers, central bank governors, government officials, and prominent academics.
- More complex financial and economic interconnectedness, and more diversified economies, call for a renewed reflection on the stability and resilience of the overall financial and economic system.
- Mobilizing policymakers and experts on these issues is timely. Greater international cooperation will help to better understand and mitigate risks from diverging monetary policies, tighter and more volatile international financial conditions, and increased vulnerabilities in some economies.
Office of the Minister of Finance
Department of Finance