Minister Ien highlights investments to create good jobs and build a strong economy in Budget 2022

EDMONTON, Alta., April 14, 2022 /CNW/ – 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 the economy and build a Canada where no one is left behind.

Today, the Honorable Marci Ien, Minister Delegate for Women, Gender Equality and Youth, was accompanied by Pierre LeclaireAcademic Vice President of the Northern Alberta Institute of Technology (NAIT), to highlight investments that will create good jobs and build a strong economy.

Budget 2022 investments will ensure Canadian workers have the skills they need to fill well-paying jobs that grow our economy and foster inclusive communities.

Budget 2022 also invests in economic growth and innovation, the key to from Canada long-term prosperity. Budget measures include:

  • Launch of a new global leader Canada Growth Fund that will attract tens of billions of dollars of private investment into Canadian industries and Canadian jobs

  • $625 million over four years for Early Learning and Child Care Infrastructure Fund help provinces and territories invest more in child care

  • $84.2 million over four years for Union Education and Innovation Programthat will support apprentices from underrepresented groups

  • Execution from Canada first Critical Minerals Strategy that will create thousands of good jobs and capitalize on a growing need for minerals used in everything from phones to electric cars

Canada entered the pandemic with the lowest net debt-to-GDP ratio of any G7 country, an advantage that has since grown relative to other countries. Canada experienced the strongest employment recovery in the G7 and, since March 2022recovered 115% of the jobs lost at the height of the pandemic, with an unemployment rate that stands at just 5.3%, the lowest rate since 1976. With the 2022 budget, Canada maintain this leadership position and maintain its fiscally responsible approach to economic growth and building an economy that benefits everyone. Crucially, it maintains the government’s fiscal anchor – a falling debt-to-GDP ratio and the unwinding of COVID-19-related deficits, which will ensure that from Canada finances remain sustainable over the long term.

Estimate

“Budget 2022 is about growing our economy, creating good jobs and building a Canada where no one is left behind. Our plan is responsible and thoughtful, and it will mean more homes and well-paying jobs for Canadians, cleaner air and cleaner water for our children, and a stronger, more resilient economy for years to come. to come. »

The Honorable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

“Our resilient economy relies on the hard work of Canadians from coast to coast and Budget 2022 details how we will continue to grow, create good middle class jobs, while building a sustainable future. This future is propelled by polytechnics like the Northern Alberta Institute of Technology (NAIT), which contribute directly to from Canada economic success by giving students a hands-on technology-based education. NAIT’s programs are great examples of how we ensure Canadian workers have the skills they need to get well-paying jobs. »

The Honorable Marci Ien, Minister for Women and Gender Equality and Youth

Fast facts

Some Budget 2022 measures to build a strong economy include:

  • Until $3.8 billion to implement from Canada first strategy on critical minerals

  • A temporary Canada Recovery Dividend, representing a one-time tax of 15% on 2021 taxable income above $1 billion of from Canada large banking and life insurance groups, to help support from Canada wider recovery

  • A permanent 1.5 percentage point increase in the corporate tax rate of banking and life insurance groups on taxable income above $100 million

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SOURCE Women and Gender Equality Canada

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