Minister Fortier discusses the importance of quality of life and well-being of Canadians in Victoria
March 4, 2020 - Victoria, British Colombia - Department of Finance Canada
A strong economy starts with a strong middle class and a responsible fiscal plan. For the last four years, investments in people and communities have helped create more opportunities for people to succeed.
Better incorporating quality of life measurements into government decision-making and budgeting, drawing on lessons from other jurisdictions such as New Zealand and Scotland, is one of the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance’s mandate letter commitments.
In Victoria, the Minister participated in a roundtable with stakeholders, including Mayor Lisa Helps, to hear from them on what quality of life and well-being mean to them and their communities, and to understand the key issues they are facing. The Minister also highlighted the need to look at a broader range of evidence than standard economic statistics, such as gross domestic product (GDP), to assess progress in people’s quality of life and establish policy priorities.
The government remains committed to building an economy that works for everyone. This means ensuring that the benefits of growth are fairly distributed, that everyone has equal opportunities to succeed, and that Canada becomes an even better place to live for current and future generations.
“Economic growth and quality of life reinforce one another—you can’t sustain one for long without the other. We want an economy that works for everyone—where all Canadians can have a comfortable quality of life. To do that, we need to better understand what contributes to Canadians’ well-being and to take an approach that allows us to grow the economy and improve Canadians’ lives. This work will better inform our decisions now and in the future so that we can create lasting prosperity for all Canadians, their children and grandchildren.”
- Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance
Looking “Beyond GDP” at broader elements of quality of life and well-being is gaining traction around the globe, including as part of the Organisation for Economic Co-operation and Development’s (OECD) work on inclusive growth. Roughly half of the countries in the OECD have formally adopted sets of indicators that measure their citizens’ well-being.
Media may contact:
Office of the Minister of Middle Class Prosperity and Associate Minister of Finance
Department of Finance Canada
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