Minister Morneau Takes Canada's Plan for Competitiveness, Equality and Growth to G20, International Monetary Fund and World Bank Group
April 19, 2018 – Washington, D.C. – Department of Finance Canada
The Government of Canada is committed to working with its international partners to ensure that the benefits of economic growth are shared by everyone, including the middle class and those working hard to join it.
Finance Minister Bill Morneau is in Washington for the Spring Meetings of the International Monetary Fund (IMF) and World Bank Group, where he will meet with his G20 colleagues to discuss global economic developments. Minister Morneau will call attention to the G7 themes of investing in growth that works for everyone, and advancing gender equality and women's empowerment—which are on Canada's agenda for meetings of G7 Finance and Development Ministers, and Central Bank Governors, taking place from May 31 to June 2 in Whistler, British Columbia.
While in Washington, Minister Morneau will share highlights from the Government of Canada's plan for equality and growth, Budget 2018, Equality + Growth: A Strong Middle Class. The Minister will underscore the importance of ensuring open international trade that is progressive and rules-based and that delivers benefits that can be felt by everyone. The Minister will emphasize that Canada is a great place to invest, create jobs and do business, due to its solid fiscal position, strong economic performance and openness to trade and the Government's plan to strengthen the middle class by promoting equality and investing in the economy of the future.
"The global economy must work for everyone, regardless of gender, and the benefits of growth must be shared with the middle class. Ensuring equality and investing in growth that works for everyone are key to Canada's global competitiveness and long-term prosperity. I look forward to making progress on these issues with my G20 colleagues here in Washington, as well as at upcoming G7 meetings in Whistler. It is important that we continue to work together as a global community to empower women and girls, to level the global playing field, and to prepare our citizens for the jobs and opportunities in the economy of tomorrow."
- 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.
- Canada's federal debt-to-GDP (gross domestic product) ratio remains firmly on a downward track and the deficit-to-GDP ratio is projected to reach 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