Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody is left behind.
April 14, 2022 Sudbury, Ontario
Through Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, the Government of Canada makes targeted and responsible investments to create good jobs, grow our economy, and build a Canada where nobody is left behind.
Today, the President of the Treasury Board, the Honourable Mona Fortier, is in Sudbury with Viviane Lapointe, Member of Parliament for Sudbury, to meet with a number of local groups to discuss investments in Jobs and Growth. These organizations include Northern Ontario Angels, the Réseau de soutien à l’immigration francophone du Nord de l’Ontario, l’Université de Sudbury and le Collège Boréal.
Throughout the day, the President will highlight Budget 2022 investments in economic growth and innovation—the key to Canada’s long-term prosperity. These include launching a new world-leading Canada Growth Fund that will attract tens of billions of dollars in private investment in Canadian industries and Canadian jobs, and a new innovation and investment agency that will help drive productivity and growth across our economy. Budget 2022 also proposes to implement Canada’s first Critical Minerals Strategy—one that will create thousands of jobs and capitalize on a growing need for the minerals used in everything from phones to electric cars. Measures also include steps to build more resilient supply chains, and to cut taxes for Canada’s growing small businesses.
Additionally, Budget 2022, is investing in ensuring Canadian workers have the skills they need for the well-paying jobs of today and tomorrow, and will make it easier for the skilled immigrants that our economy needs to make Canada their home. The Budget makes further significant investments in affordable housing and childcare, in our public health care system, and in advancing reconciliation with Indigenous Peoples.
During these meetings, the President will reinforce the importance of official languages across Canada, particularly in minority language communities, and will emphasize that the Government has committed $408.3 million over three years to promote official languages and support the modernization of the Official Languages Act with the goal of achieving substantive equality of Canada’s official languages.
Canada entered the pandemic with the lowest net debt-to-GDP ratio of all G7 countries—an advantage that has since increased relative to other countries. Canada has seen the best jobs recovery in the G7, and as of March 2022, has recovered 115 per cent of the jobs lost at the height of the pandemic, with an unemployment rate that sits at just 5.3 per cent—the lowest rate on record since 1976. With Budget 2022, Canada will maintain this leading position, and maintain its fiscally responsible approach to economic growth and to building an economy that works for everyone. Crucially, it upholds the government’s fiscal anchor—a declining debt-to-GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that Canada’s finances remain sustainable in the long-term.
“Budget 2022 is about growing our economy, creating good jobs, and building a Canada where nobody gets left behind. Our plan is responsible and considered, and it is going to mean more homes and good-paying jobs for Canadians; cleaner air and cleaner water for our children; and a stronger and more resilient economy for years to come.”
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance
“A strong and prosperous economy requires a diverse, talented, and constantly growing workforce. And yet, too many Canadians still face barriers to finding and retaining meaningful and well-paid work. That is why we are taking significant steps in Budget 2022 to create jobs and prosperity today, and build a stronger economic future for our children.”
The Honourable Mona Fortier, President of the Treasury Board
Isabella Brisson
Acting Director of Communications and Press Secretary
Office of the President of the Treasury Board
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