In the context of a tour dedicated to listening to Canadians on what quality of life means to them, the Minister participated in a roundtable with stakeholders in Surrey to hear from them on what quality of life and well-being mean to them, and to understand the key issues facing their communities. 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.
Today, the Department of Finance Canada released the 2020 Report on Federal Tax Expenditures—Concepts, Estimates and Evaluations. This report provides estimates of the fiscal cost of federal tax measures designed to keep the federal tax system functioning properly and support Canadian families and businesses.
Finance Minister, Bill Morneau, will attend the G20 Meeting of Finance Ministers and Central Bank Governors in Riyadh, Saudi Arabia, from February 22 to 23. At the meeting, the Minister will emphasize the importance of fair and open trade and encourage the G20 to continue its focus on creating economic growth that works for everyone. Minister Morneau will be joined by Bank of Canada Governor Stephen S. Poloz.
Today, Minister of Finance, Bill Morneau, and Minister of Middle Class Prosperity and Associate Minister of Finance, Mona Fortier, welcomed two reports from the Financial Consumer Agency of Canada (FCAC) on the complaints handling system in banking.
Today, Minister of Finance, Bill Morneau, announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages, also known as the “stress test.” These changes will come into effect on April 6, 2020. The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%.
Today, Minister of Finance Bill Morneau released an updated analysis of the net impact of measures introduced since 2015 to make life more affordable for the middle class and people working hard to join it.
Today, Parliamentary Secretary to the Minister of Finance and to the Minister of Middle Class Prosperity and Associate Minister of Finance, Sean Fraser, was in Masstown, Nova Scotia, to continue the Government of Canada’s consultations for Budget 2020. The Parliamentary Secretary joined the local Member of Parliament, Lenore Zann, for a roundtable discussion with local business and not-for-profit leaders to talk about investments to help grow the economy, create more good, well-paying jobs, and ensure everyone has a real and fair chance at success.
Today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, was in Toronto to deliver a speech to le Club canadien de Toronto as part of its annual general assembly. The theme of the speech was prosperity among middle class Francophones. Following the speech, Minister Fortier participated in a question and answer session.
Finance Minister Bill Morneau met today with Canada’s leading private sector economists to gather their evaluations on the state of the Canadian and global economies as well as their expectations for the months and years ahead.
Today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, was in Kenora, Ontario, to continue the Government of Canada’s consultations for Budget 2020. Minister Fortier took part in a roundtable discussion to hear from business and community leaders and stakeholders from the region about how the government can help grow the middle class and the economy in a way that works for everyone.
