Today, Finance Minister Bill Morneau gave his Fall Economic Statement in the House of Commons. We are pleased to share with you that the investments the Government of Canada has made in people, in our communities and in our economy are paying off. Canada now has the fastest-growing economy in the G7, growing at the fastest pace since the last Liberal Government in 2006.
Our Government is reinvesting the benefits of this growth into:
• A stronger Canada Child Benefit (CCB) that keeps up with the cost of living – This means more money, tax-free for families.
• Support for our low-income workers by enhancing the Working Income Tax Benefit by $500 million per year.
• Fulfilling our promise to lower the small business tax rate to 9% providing up to $7,500 in tax savings for small business owners to reinvest.
The CCB has already brought 300,000 children out of poverty and has been credited by economists and the Bank of Canada with driving our economic growth. Unemployment is at its lowest level since 2008, and our fiscal outlook continues to exceed expectations.
Details here: http://www.fin.gc.ca/n17/17-103-eng.asp