WHITEHORSE, YT, Nov. 10, 2022 /CNW/ – In the recent 2022 Fall Economic Statement, the Government of Canada highlighted its plan to continue its sound stewardship of the economy and to be there for Canadians. To help families cope with increasing costs, like rising prices at the checkout counter, the government is delivering targeted support to the Canadians who need it the most, including by doubling the goods and services tax (GST) credit for 11 million eligible Canadians, enhancing the Canada Workers Benefit to support 4.2 million Canadians, and making federal student and apprentice loans permanently interest free for the graduates of today and tomorrow.
The government is also moving forward with its ambitious plan to strengthen industry and build a thriving net-zero economy with opportunities and jobs.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, met with the Yukon business community and toured the NorthLight Innovation hub and Icefield Tools. During these meetings, Minister Champagne highlighted the government’s plan to invest in jobs and training and focused on the economic opportunities available to Northern Canada, including in our critical minerals sectors.
“The Fall Economic Statement is a fiscally responsible plan to make life more affordable and grow the economy to create good, well-paying jobs for today and tomorrow. Yukoners can be confident that our government will continue to be there with support for the Canadians who need it most, while also helping to grow key sectors that are integral to Northern Canadians. We will do everything to support their ambitions and their know-how in building a stronger and more resilient economy.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
The federal government’s fiscal anchor—the unwinding of COVID-19-related deficits and reduction of the federal debt-to-GDP ratio over the medium term—remains unchanged. The federal debt-to-GDP ratio is projected to continuously decline and is on a steeper downward track than projected in Budget 2022.
New measures proposed in the 2022 Fall Economic Statement include:
Making life more affordable:
Investing in jobs, growth and an economy that works for everyone:
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