Minister Morneau Meets With Private Sector Economists
February 22, 2019 – Toronto, Ontario – Department of Finance Canada
Thanks to the hard work of Canadians, Canada's economy is strong and growing, creating more good, well-paying jobs for the middle class and people working hard to join it. Over 850,000 more Canadians are employed today compared to 2015, the unemployment rate is near its lowest level in over 40 years, and Canadian families have more money to spend on the things that matter most.
Today, Finance Minister Bill Morneau met with Canada's leading private sector economists to gather their evaluation 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 fiscal planning since 1994. This practice, supported by the International Monetary Fund, ensures objectivity in the fiscal forecast. The forecasts will be captured in the 2019 budget, which will be tabled in the House of Commons on March 19, 2019.
The Government is committed to sound fiscal management as it makes smart, responsible investments in the middle class, ensuring all Canadians can look forward to a secure retirement, and creating better jobs for today and tomorrow.
"Our plan for the economy has centered on supporting a strong and growing middle class. Today, families are better able to save, invest, and spend in their communities. However, our work is not done. Our Government will continue to make smart and responsible investments in the things that matter to Canadians, and to give everyone a real and fair chance at success, now and in the future."
- Bill Morneau, Minister of Finance
The Government cut the small business tax rate to 10 per cent, effective January 1, 2018, and as of January 1, 2019, further reduced it to 9 per cent.
2019 also marks the introduction of the new, more generous Canada Workers Benefit, allowing low-income workers to take home more money while they work.
Canada is making historic investments in infrastructure, innovation, science and research, and skills development and training.
Canada has secured new and modernized trade agreements that will mean even greater economic opportunities for Canadians in the years ahead.
The Government has also made a commitment to gender equality, which will foster growth in Canadian businesses as well.
Media may contact:
Acting Director of Communications
Office of the Minister of Finance
Department of Finance Canada
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