Minister of Finance Highlights Importance of Financial Stability for a Strong, Confident Middle Class
October 28, 2016 – Toronto, Ontario – Department of Finance Canada
Financial stability and security are part and parcel of a strong and resilient economy, and are essential components of the Government of Canada’s plan to strengthen the middle class and help those working hard to join it. When Canadian businesses and families have the confidence to invest, plan ahead and succeed, we all benefit.
In a speech to the Toronto Region Board of Trade, Minister of Finance Bill Morneau reconfirmed his responsibility for financial stability in Canada, and described the steps the Government has taken to shore up the foundation that supports economic growth and protects the financial security of Canadians.
The Minister highlighted the changes made over the past year to mortgage insurance rules—designed to protect families by promoting the overall health of the Canadian housing market—as well as the renewal of the inflation-target agreement with the Bank of Canada earlier this week as examples of concrete actions taken by this Government in support of long-term economic growth and a strong middle class.
Minister Morneau also pointed to initiatives introduced in the past year that promote the financial security of Canadians and their families, including the middle class tax cut, the Canada Child Benefit, and the strengthening of the Canada Pension Plan. Thanks to these initiatives, families will be better able to save for their children’s education, buy skates this winter and worry less about their savings when they retire. In its Fall Economic Statement on November 1, 2016, the Government will build on this plan to create good, well-paying jobs and long-term growth for our country, while improving quality of life for all Canadians.
“As Canada’s Finance Minister I am ultimately responsible for supporting financial security, and for the stability of our financial system. By finding a balance between the actions we take in the short term and keeping our eye on the long game, we will make sure businesses, families and investors have confidence in the foundation that underpins our plan for a brighter future.”
- Bill Morneau, Minister of Finance
- Speech: Setting the Foundation for Middle Class Growth
- Ensuring Financial Stability in Canada
- Government of Canada Renews Inflation-Target Agreement With the Bank of Canada
- Bank of Canada
- Office of the Superintendent of Financial Institutions
- Canada Deposit Insurance Corporation
Office of the Minister of Finance
Department of Finance Canada