Wednesday, February 20, 2019 ~ OTTAWA.
~ West Shore Voice News
Finance Minister Bill Morneau today announced in the House of Commons that the Government will table its next budget on March 19, 2019. #YourBudget2019
“The Government of Canada is taking the next steps in its plan to build an economy that works for everyone—one with more good, well-paying jobs for the middle class, and with real help and opportunities for people working hard to join it,” it was stated in a news release today February 20.
This will be the Trudeau government’s last full budget ahead of this year’s federal election in October.
The Government’s plan to invest in the middle class, combined with the hard work of Canadians, has resulted in an economy that is strong and growing, says the Ministry of Finance, stating that over 850,000 more Canadians are employed today than in 2015, and the unemployment rate is near 40-year lows. Wage growth for 2018 is on pace to rise at its fastest rate in eight years, and Canada is expected to remain among the fastest-growing economies in the G7 in 2019 and 2020.
“Budget 2019 will build on the success of the Government’s plan, with continued investments in the things that matter most to Canadians. Its investments in people, in our communities, and in building greater opportunities for our children and grandchildren will help to grow Canada’s economy for the long term, in a balanced and fiscally responsible way.”
Introduction of the middle class tax cut and helping families with the high cost of raising children are highlighted in today’s release. The Government introduced the Canada Child Benefit—and then indexed it to keep pace with the rising cost of living, two years ahead of schedule.
This year also marks the replacement of the Working Income Tax Benefit with the more generous Canada Workers Benefit, which will put more money in the pockets of low-income workers—encouraging more people to join and stay in the workforce, and offering real help to more than 2 million Canadian workers. Enhancements to the Canada Pension Plan, which will give Canadian workers greater income security when they retire, also take effect in 2019.
Minister Morneau’s announcement of the 2019 budget date follows record participation in the annual pre-budget consultations. More than 1.8 million people were reached during the consultation period, which saw Canadians submit nearly 14,000 submissions and ideas. The #YourBudget consultations invited input from the general public in topic areas that lined up with Liberal policy: Middle Class Families, A Secure Retirement, Standing up for the Middle Class, Better Jobs Today, and a Healthier Canada.
“Canada’s economy is strong and growing—proof that our plan to invest in Canadians is working,” said Bill Morneau, Minister of Finance in the release. “But it’s also clear that there is more work to be done. The anxieties felt by Canadians are real, and in Budget 2019 we’ll lay out the next steps in our plan to address those concerns and build a stronger country, one where every person has a real and fair chance to succeed.”