Minister Morneau Takes Canada’s Plan for Growing the Middle Class to G20, International Monetary Fund and World Bank Spring Meetings
April 13, 2016 – Washington, D.C. – Department of Finance
Finance Minister Bill Morneau is in Washington today meeting with Group of Twenty (G20), International Monetary Fund (IMF) and World Bank colleagues to share Canada’s approach to revitalize the Canadian economy and grow the middle class—a plan that is garnering international recognition.
The IMF recently singled out Canada as a country that is taking advantage of its space for fiscal expansion, and has called on other countries to also take a more balanced approach to boosting growth by effectively using fiscal space, where available.
In Washington, Minister Morneau will encourage all G20 members to implement their long-term growth strategies to create inclusive growth.
The Minister will highlight the Government of Canada’s efforts to strengthen the middle class and those working hard to join it through tax cuts announced in December 2015 and through the proposed Canada Child Benefit, which will put more money in the pockets of 9 out of 10 Canadian families with children. When combined with strategic long-term investments in infrastructure that take advantage of Canada’s enviably low net debt-to-GDP (gross domestic product) ratio, it is clear that Canada has both the capacity and the willingness to act now to ensure a better future for this and future generations.
The Government of Canada will implement an historic plan to invest more than $120 billion in infrastructure over 10 years, to better meet the needs of Canadians and better position Canada’s economy for the future.
“With a low debt burden and low interest rates, Canada is seizing the opportunity to invest in the economy, grow the middle class, and help those working hard to join it to share in Canada’s prosperity.”
“We encourage our international partners to work with us to create the global conditions needed for long-term, clean growth that will benefit all of our citizens, and help the most vulnerable members of our society.”
- Bill Morneau, Minister of Finance
Decisive Action to Secure Durable Growth (Speech by IMF Managing Director Christine Lagarde)
Office of the Minister of Finance
Department of Finance