Budget 2017: Building a Strong Middle Class in Toronto
March 24, 2017 - Toronto, Ontario - Department of Finance Canada
Budget 2017 is the next step in the Government's long-term plan to create jobs and strengthen the middle class. Canada is home to a well-educated and highly skilled workforce, but as the demands of the workplace change, so too must the education and skills that workers bring to their jobs. The changes in the economy—both here at home and around the world—present incredible opportunities for the middle class and those working hard to join it.
Today, Finance Minister Bill Morneau was in Toronto to highlight Budget 2017, Building a Strong Middle Class, the Government's ambitious agenda to support middle class Canadians at every stage of their lives, transform our neighbourhoods and communities, and give every Canadian a real and fair chance at success.
Speaking at an event co-hosted by the Canadian Club of Toronto and the Empire Club of Canada, Minister Morneau discussed how Budget 2017 positions Canada at the leading edge of a changing economy, by helping to ensure that Canadians are able to access the jobs of the future. Budget 2017 helps connect companies on a global scale, takes an innovative and collaborative approach to solving modern challenges, and helps businesses get what they need to grow.
Succeeding in the global economy of tomorrow requires an openness to the world and strategic partnerships, such as the March 23 announcement by the Asian Infrastructure Investment Bank (AIIB) that it has accepted Canada's application for membership. Membership in the AIIB will help enable high-quality infrastructure and other development projects that will benefit people in the region and Canadians.
"With Budget 2017, the Government will continue to build on its plan to deliver the things that matter most to Canadians: good jobs, healthy living, strong communities, and better opportunities for future generations. It represents the Government's continued commitment to investing in Canada and Canadians in a smart and fiscally responsible way."
– Bill Morneau, Minister of Finance
Budget 2017 supports Toronto and the Greater Toronto Area by:
- Building better communities through investments in world-class infrastructure that will improve public transit and provide Canadians with cleaner water to drink and cleaner air to breathe.
- Promoting collaboration between Canada's main centres of expertise in Montréal, Toronto-Waterloo and Edmonton and positioning Canada as a world-leading destination for companies seeking to invest in artificial intelligence and innovation through the Pan-Canadian Artificial Intelligence Strategy.
- Launching a new National Trade Corridors Fund to prioritize investments that address congestion and bottlenecks along vital corridors, and around transportation hubs and ports providing access to world markets.
- Investing more than $11.2 billion over 11 years in a National Housing Strategy to help ensure that Canadians have affordable housing that meets their needs. Of the total funding, $3.2 billion will be provided to provinces and territories to support key priorities for affordable housing.
- Providing renewed support for the Institute for Quantum Computing, a world-leading Canadian research facility that contributes to the development of new quantum technologies with the potential to transform markets, create new industries and produce leading-edge jobs.
The Asian Infrastructure Investment Bank:
- Is an international financial institution focused on addressing the estimated US$8 trillion infrastructure gap in Asia.
- Will help sustain growth in Asia, and represents an opportunity for Canada to further engage in multilateral development efforts that support inclusive economic growth in Asia and beyond.
- Budget Plan
- Backgrounder: Canada Joins the Asian Infrastructure Investment Bank
- Speech: Budget 2017: Working for the Middle Class
Media may contact:
Office of the Minister of Finance
Department of Finance Canada