Minister Morneau to Tout Canada's New Path for Middle Class Growth at G20 Meeting in Shanghai
February 25, 2016 – Ottawa, Ontario – Department of Finance
Finance Minister Bill Morneau will take Canada’s new approach to economic and fiscal policy to his G20 counterparts in Shanghai this weekend. At the heart of this approach is a commitment to strengthen the middle class and create conditions for long-term economic growth that benefits all Canadians.
The Government of Canada is taking action to ensure that economic growth is shared equally with the middle class and those working hard to join it. In a challenging global economy, the Government is making investments to create and foster sustainable, clean growth.
The Government has already started to implement its plan to invest and grow the economy with its tax cut for the middle class. In its upcoming budget on March 22, the Government will continue with its plan by introducing a simpler, more generous and better targeted child benefit, and historic infrastructure investments that will create jobs, help move goods and people, and make our communities even greener.
The Government will also create more global opportunities for Canadian businesses to grow and thrive on the international stage—a message the Minister will convey when he meets with Canadian business leaders in Shanghai.
Minister Morneau will also emphasize the need for the G20 to stand ready to respond to challenges and manage risks over the short term, as well as work toward inclusive growth for all citizens.
In its role as co-chair of the G20 Framework for Strong, Sustainable and Balanced Growth Working Group, Canada has been working closely with the Chinese Presidency and G20 members to identify ways to support economic growth in both the short and medium term. Canada is fully supportive of the G20’s focus on structural reform, and urges G20 members to remain committed to the implementation of their growth strategies, which, if fully implemented, are expected to lift the G20’s collective gross domestic product by an additional two per cent by 2018.
“Our government believes that smart investments in the economy, including investments in research and innovation, create the conditions necessary for a good standard of living, a secure retirement, and better prospects for future generations.
“I will be proud to reconfirm Canada’s approach to economic growth as I work with my fellow G20 finance ministers to strengthen the global economy and help create prosperity for all of our citizens, particularly the middle class and the most vulnerable members of our societies.”
- Bill Morneau, Minister of Finance
- The G20 is the premier forum for international economic cooperation, with members accounting for 85 per cent of global output and two-thirds of the world’s population.
- A key focus of the G20 has been to foster strong, sustainable and balanced global growth through collective actions.
Office of the Minister of Finance
Department of Finance