Minister Morneau Discusses Canada's Plan for Competitiveness, Equality and Growth for the Middle Class With G7 Business Leaders
April 5, 2018 – Québec, Quebec – Department of Finance Canada
With a strong and growing Canadian economy, now is the right time to make progress in Canada and around the world to ensure everyone can contribute to, and share in, the benefits of growth.
Canada's Minister of Finance, Bill Morneau, will deliver remarks today at the B7 Business Summit in Québec, hosted by the Canadian Chamber of Commerce, as part of Canada's 2018 G7 Presidency. Summit participants are from leading business organizations from G7 countries.
Minister Morneau will discuss key pillars of Canada's 2018 G7 Presidency, including advancing gender equality and women's empowerment, preparing for the jobs of the future, and investing in growth that works for everyone. He will also speak of the challenges and opportunities faced by global leaders in government and business.
On the heels of Budget 2018, Equality + Growth: A Strong Middle Class, Minister Morneau will highlight Canada as a great place to invest, due to its solid fiscal position, strong economic performance and openness to trade and the Government's plan to grow and strengthen the middle class by promoting equality and investing in the economy of the future.
The Minister will also underscore the importance of ensuring a competitive business environment, and will pledge to work with Canada's business community to address the uncertainty created by global factors, including the outcome of North American Free Trade Agreement talks and tax changes in the United States. The Minister will commit to remaining vigilant in making sure Canada remains the best place to invest, create jobs and do business—while staying focused on the Government's long-term goal of building an economy that works for everyone.
Joël Lightbound, Parliamentary Secretary to the Minister of Finance, will also deliver remarks at the B7 Business Summit. His remarks will focus on women being at the heart of a strong middle class.
"Creating opportunities through equality and ensuring that growth benefits everyone can lead to a prosperous future for all, and it is key to Canada's global competitiveness. Next month, G7 Finance and Development Ministers, and Central Bank Governors, will focus on investing in growth that works for everyone. This focus will advance G7 initiatives that promote a level global playing field; build a solid foundation for people and businesses to adapt to the impact of transformative technologies; and advance international development goals, particularly when it comes to empowering women and girls around the world."
- Bill Morneau, Minister of Finance
- In the last two years, the Canadian economy created almost 600,000 jobs, most of them full-time.
- Canada's unemployment rate is near its lowest level over the past 40 years.
- Since 2016, Canada has led the G7 in economic growth.
- The Government is making steady improvements to its finances:
- The federal debt-to-GDP (gross domestic product) ratio remains firmly on a downward track and is projected to reach a low of 28.4 per cent in 2022–23.
- The deficit-to-GDP ratio is projected to reach a low of 0.5 per cent in 2022–23.
- Canada's total government net debt-to-GDP ratio is the lowest among G7 countries.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada