On Wednesday, March 22nd, 2017 the Honourable Minister of Finance, Bill Morneau, tabled the 2017 federal budget.
Budget 2017 is the next step in the Government’s long-term plan to make smart investments that will create jobs, grow our economy and provide more opportunities for the middle class and those working hard to join it. Canada is home to a well-educated and highly skilled workforce, but as the demands of the workplace change, so too must the education and skills that workers bring to their jobs.
With its strong focus on innovation, skills, partnerships and fairness, Budget 2017 takes the next steps in securing a more prosperous future for all Canadians.
Here are some highlights:
- $20.1 billion over eleven years, in partnership with the provinces and territories, to invest in public transit projects that will shorten commutes, decrease air pollution, and allow Canadians to spend more time with their families
- More than $11.2 billion over eleven years for an inclusive National Housing Strategy to help ensure Canadians have affordable housing that meets their needs.
- $1.26 billion over five years to creating a new Strategic Innovation Fund that will attract, support, and grow Canadian business in dynamic and emerging sectors, such as agri-food, digital, cleantech and advanced manufacturing.
- An investment of up to $950 million over five years to support business-led innovation superclusters – in key sectors such as digital and clean tech – that have the greatest potential to accelerate economic growth.
- $300 million over eleven years to improve the quality of life for urban residents by launching a Smart Cities Challenge Fund, which will support a competition for Canadians to develop Smart Cities Plans that bring together local governments, citizens, businesses, and civil society.
- $1.4 billion in new financing, deployed over three years to take action to help clean tech firms in Canada grow.
- $395.5 million over three years to the Youth Employment Strategy for additional employment and skills development opportunities for youth.
- $221 million to support work-integrated learning placements for Canadian post-secondary students and graduates each year.
Skills and Training
- $29.5 million over five years to support initiatives that teach basic digital skills.
- $50 million over two years to support a K-12 program to teach coding to youth.
Advancing Reconciliation with Indigenous Peoples
- $828.2 million over five years to improve the health outcomes of First Nations and Inuit.
- $50 million for the Aboriginal Skills and Employment Training Strategy.
- $4 billion investment over ten years for infrastructure in First Nations and Inuit communities.
- $225 million over ten years to support housing for Indigenous Peoples not living on-reserve.
- $100 million over five years to establish a National Strategy to Address Gender-Based Violence.
- First ever Budget that assessed how gender was considered in its measures.
- $21.9 billion in green infrastructure, including initiatives that will reduce greenhouse gas emissions, deliver clean air and safe drinking water, and promote renewable power as well as support the implementation of the Pan-Canadian Framework on Clean Growth and Climate Change.
- $200 million over four years to invest in various stage clean technologies being developed by industry, academia and federal labs.
- $300 million over ten years to the Canada Cultural Spaces Fund.
- Caregiver Benefit A new EI caregiving benefit of up to fifteen weeks to cover a broader range of situations where individuals are providing care to an adult family member.
- Child Care $7 billion over ten years to support and create more high quality affordable child care spaces.
- $11 billion over ten years to provide more home care and mental health support for Canadian families.
- A new Education and Training Benefit to ensure veterans receive the skills, training and education they need to succeed
A Fair and Efficient Tax System
- $523.9 million over five years to prevent tax evasion and improve tax compliance.
“There is lots of good news here for Ottawa Centre and its residents. Budget 2017 provides critical investments in many areas that matter to Canadians, including public transit, affordable housing, innovation, and the environment. I look forward to working with my provincial and municipal counterparts on this exciting agenda.”– Catherine McKenna, MP, Ottawa Centre
“Budget 2017 is about jobs. It’s about creating good middle class jobs today, while preparing Canadians for the jobs of tomorrow. The next step in our plan for Canada’s economy is making the smart, responsible investments we need to be innovative and competitive, while improving the health of our communities, ensuring a better future for our kids and grandkids.”– Bill Morneau, Minister of Finance