Minister Morneau Meets With Private Sector Economists

News release

November 16, 2018 – Toronto, Ontario – Department of Finance Canada

Across the country, a strong and growing middle class is driving economic growth, creating jobs and opportunities for everyone to succeed. The Government of Canada's plan to invest in people and communities to build a strong middle class is working. Thanks to the hard work of Canadians, more than half a million full-time jobs have been created over the past three years, pushing the unemployment rate to 40-year lows, and Canada has been among the leaders of strongest economic growth in the G7 over the same period.

Finance Minister Bill Morneau today met with Canada's leading private sector economists to gather their views on the state of the Canadian and global economies, and their expectations for the months and years ahead.

The private sector economists' forecasts have been used as the basis for the Government's planning since 1994. This practice, which is supported by the International Monetary Fund, ensures objectivity in the fiscal forecast.

The Government of Canada is committed to sound fiscal management as it makes smart and responsible investments to strengthen the middle class and the economy, while preserving Canada's low-debt advantage for current and future generations.

Minister Morneau will present the Fall Economic Statement in the House of Commons on November 21, 2018.

Quotes

"Thanks to Canadians' hard work, Canada's economy is strong and growing. By investing in the things that matter to Canadians while maintaining a clear focus on fiscal responsibility, our Government is helping to build a strong middle class, and helping to make life more affordable for Canadian families."

Bill Morneau, Minister of Finance

Quick facts

  • Canada's economy is strong and growing. Canada had the strongest economic growth of all the G7 countries in 2017, and it is expected to remain among the fastest growing economies this year and next. 

  • The benefits of this growth are widespread. Middle class Canadians have more money to save, invest and, in turn, grow the economy. The share of employed working-age Canadians – for both the overall population and for women – is at a record high. If sustained through the year, 2018 could mark the strongest wage growth for Canadians in close to a decade. 

  • Reflecting this solid economic environment, consumer confidence has risen 29 per cent since the fall of 2015 while business investment growth has averaged about 8 per cent since the end of 2016 – the fastest rate of growth in six years, and marking six consecutive quarters of growth.

Contacts

Media may contact:

Pierre-Olivier Herbert 
Press Secretary 
Office of the Minister of Finance
pierre-olivier.herbert@canada.ca 
613-369-5696

Media Relations
Department of Finance Canada
fin.media-media.fin@canada.ca
613-369-4000

General Enquiries

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

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