Government's Plan to Invest in the Middle Class Receives Royal Assent
June 21, 2019 – Ottawa, Ontario – Department of Finance Canada
Nearly four years ago, Canadians chose a government with a plan to invest in the things that matter most: good, well-paying jobs; more help with the high cost of living; strong, connected communities; and better opportunities for our children and grandchildren.
It's a plan that's working. Since late 2015, Canadians have created more than one million new jobs, unemployment and poverty rates are at historic lows, and wages are rising faster than inflation.
Budget 2019 is the next step in that plan—with investments to help strengthen and grow the middle class, and build a strong and resilient economy that works for everyone.
Today, Finance Minister Bill Morneau welcomed the Royal Assent of Bill C-97, the Budget Implementation Act, 2019, No. 1 (BIA 1), which implements key measures proposed in Budget 2019. This includes the creation of the First-Time Home Buyer Incentive, which will help more Canadians afford their first home, and the Canada Training Credit, which will help workers get the skills they need to succeed in a changing world of work. Additionally, an enhancement to the Guaranteed Income Supplement earnings exemption will make sure low-income working seniors can take home more money while they work.
Through this Act, the Government is also:
- Supporting local infrastructure priorities by providing a one-time top-up of $2.2 billion to municipalities and First Nations, doubling the federal municipal infrastructure commitment and helping communities pay for crucial repairs and important local projects.
- Lowering Canadians' energy costs by increasing energy efficiency in residential, commercial and multi-unit buildings.
- Making education more affordable for Canadians by making the six-month grace period on Canada Student Loans interest-free after a student leaves school.
- Enhancing support for innovation by improving the Scientific Research and Experimental Development Tax Incentive Program for growing innovative firms.
"Investing in the middle class means investing in people. That's how we are building a better Canada—a stronger, more connected country—with better opportunities for people today, and the promise of a better future. With this legislation, we are helping more first-time homebuyers afford a home of their own, helping workers gain the skills they need to remain competitive, making post-secondary education more affordable and accessible, and ensuring that seniors have what they need for a secure and dignified retirement."
- Bill Morneau, Minister of Finance
- Budget Plan
- Budget Speech
- Backgrounder: The Canada Training Benefit
- Backgrounder: An Affordable Place to Call Home
- Backgrounder: Moving Forward on Implementing National Pharmacare
- Backgrounder: A Secure and Dignified Retirement for Canadians
- Backgrounder: Advancing Reconciliation With Indigenous Peoples
- Backgrounder: Building a Better Canada: Universal High-Speed Internet
- Backgrounder: Strong Communities, Affordable Electricity and a Clean Economy
- Gender Report
- Investing in Young Canadians
Media may contact:
Director of Media Relations
Office of the Minister of Finance
Department of Finance Canada
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