A STRONG ECONOMY.
The Canadian economy is stronger now than it’s been in over a decade. In 2017, employers added 400,000 jobs, the unemployment rate fell to below 6%, and Canada’s economic growth is expected to be the best in the G7.
Federal Liberal policies have contributed to that growth. As Bank of Canada Governor Stephen Poloz put it, the Canada Child Benefit was “highly stimulative” and government infrastructure spending will further add to productivity, with billions in funding allocated in Budget 2017 for public transit, a national housing strategy, and early learning and childcare.
With economic growth outpacing estimates, and additional revenue as a result, the Finance Minister announced that the Canada Child Benefit and Working Income Tax Benefit will increase, that small business taxes will be reduced as promised, and that the deficit will be lower than projected. As the Parliamentary Budget Office reported in early October, “current fiscal policy at the federal level is sustainable over the long term,” and Canada’s debt-to-GDP ratio continues to decline.