Today, Minister of Finance Bill Morneau spoke with students at the University of New Brunswick in Saint John about investments in Budget 2019, Investing in the Middle Class. Minister Morneau discussed how Budget 2019 proposes new measures that will help build an economy that works for everyone—including young people.
Today, Minister of Finance Bill Morneau spoke with members of Canadian Club Toronto about investments in Budget 2019: Investing in the Middle Class. Minister Morneau discussed how Budget 2019 introduces new measures that will help build an economy that works for everyone today, and in the long term. He also highlighted new measures that form the next step in the Government's plan to keep Canada's economy strong and growing, and make life more affordable for Canadians.
Today, Minister of Finance Bill Morneau spoke with members of the Economic Club of Canada in Ottawa about how investments in Budget 2019, Investing in the Middle Class, will expand that plan.
Carbon pollution is not free. Canadians feel its effects when extreme weather threatens their safety, their health, their communities and their livelihoods. Collectively we also pay for pollution in the form of structural repairs, food prices, health care costs, higher insurance premiums and the drain on emergency services. Climate change is expected to cost Canada's economy $5 billion annually by 2020.
As part of that, Finance Minister Bill Morneau and Minister of Rural Economic Development Bernadette Jordan welcome the expansion of Xplornet Communications' national broadband network. This investment will help Xplornet deliver high-speed internet services in rural and remote communities on the same timeline as in Canada's largest cities.
Every Canadian deserves a safe and affordable place to call home, yet finding affordable housing can be a challenge. While the Governments of Canada and British Columbia have made historic investments in building new housing, there is still more work to be done. Together with the Government of British Columbia, we are taking the next steps to help make housing more affordable for Canadians.
Canadians are proud of our universal health care system, which provides care based on individual need regardless of ability to pay. However, Canadians face some of the highest prescription drug prices in the world. The existing patchwork of prescription drug coverage is leading to poorer health for some and higher costs for all Canadians. That is why Budget 2018 announced the creation of an Advisory Council on the Implementation of National Pharmacare (the Council) to recommend options on how to move forward together on this important subject.
The Department of Finance Canada announced today that Canada's official international reserves decreased by an amount equivalent to US$3,452 million during February to US$84,420 million. This was driven by reserves management funding operations (-US$3,196 million), and a loss in net investments (-US$256 million).
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.