Minister Morneau Meets With Private Sector Economists
October 5, 2017 – Toronto, Ontario – Department of Finance Canada
Canada has the fastest growing economy among G7 nations, with second-quarter gross domestic product (GDP) growth hitting 4.5 per cent. The Government of Canada is committed to creating the conditions for all Canadians to succeed in a changing economy.
Through consultations and open dialogue with stakeholders across the country, and with the needs of families as our highest priority, the Government is building an economy that works for the middle class, and those working hard to join it.
Today in Toronto, Finance Minister Bill Morneau met with a group of Canada's leading private sector economists to gather their views on the Canadian and global economies.
The private sector economic forecasts have been used as the basis for fiscal planning since 1994. This practice, which is supported by the International Monetary Fund, ensures objectivity in the fiscal forecast.
- Canada's underlying economic and fiscal fundamentals remain sound: over the last four quarters, real GDP has grown at an average rate of 3.7 per cent—the strongest four-quarter period of expansion since 2006. The labour market has also been strong, with nearly 400,000 new jobs created in the last year.
- The Government of Canada has taken significant steps towards helping families regain the confidence needed to help drive the economy forward. This includes cutting taxes for 9 million Canadians, introducing a new Canada Child Benefit, and strengthening the Canada Pension Plan so that future generations of workers can retire with dignity.
- The Government is committed to sound fiscal management as it continues to make investments to support long-term economic growth and a strong middle class, while preserving Canada's low-debt advantage for current and future generations.
"The Government is taking a responsible approach to help grow the economy in a way that benefits the middle class and those working hard to join it. We are seeing positive signs that our plan is working and we will continue to invest in Canada's future, while supporting Canadian families today."
- Bill Morneau, Minister of Finance
Media may contact:
Office of the Minister of Finance
Department of Finance Canada