Today, Finance Minister, Bill Morneau, tabled the Government of Canada’s 2016 federal budget, Growing the Middle Class, aimed at growing the economy and enacting real change for Canadians.
“Over the last decade Sault Ste. Marie and Northern Ontario have struggled to keep up. Today’s budget represents a significant investment in Canadians and our future. Our infrastructure investment of more than $120 billion over the next decade is the largest in history. We have a strategy for long-term growth that will improve our quality of life in Sault Ste. Marie by building better roads, bridges, and facilities, which will create jobs during a time when our economy is slow.” said MP Sheehan.
“Additionally, many families in our riding will be able to take advantage of the new more generous, tax-free Canada Child Benefit, which will lift over 300,000 children out of poverty,” noted Sheehan. “In fact, nine out of ten families will receive more under this new system than they did under the previous Government’s plan.”
The Canada Child Benefit program will provide annual payments of up to $6,400 per child under the age of 6 and up to $5,400 per child between the ages of 6 and 17. Families earning less than $30,000 in net income will receive the maximum benefit.
“The Canada Child Benefit goes hand in glove with the middle class tax-cut that took effect on January 1st, 2016 and together they will make an important difference in the lives of many Canadian families,” said Sheehan.
“I was also very pleased to see that our Government is continuing to support the steel industry. We recognize the importance of having a modern and effective trade remedy system to support Canadian jobs and investment. We need a system that can address issues like steel dumping in the Canadian market, which affect domestic steel producers like Essar and Tenaris, and I see this budget as a very positive step in the right direction.”
In the 2016 Budget, the Government of Canada commits to “Strengthening Canada’s Response to Unfair Trade” by taking steps to improve the existing framework to more effectively remedy dumped and subsidized imports through legislative amendments.
The federal budget also commits to reforming the Unemployment Insurance system and investing in skills development and training. Among other things, the Government will be reducing the employment insurance waiting period from two weeks to one, and will be extending EI regular benefits by 5 weeks to all eligible individuals. Long-tenured workers in Northern Ontario will be provided up to an additional 20 weeks of EI regular benefits.
“We are committed to improving the lives of all Canadians, and that includes those that are unemployed, or looking to pursue new job opportunities. Investing in training is an essential part of growing a strong and sustainable economy in Sault Ste. Marie and I’m glad the Canadian Government is taking that seriously,” said MP Sheehan. “Investing in a diversified economy through investments in green jobs, as Prime Minister Trudeau announced here in Sault Ste. Marie during the campaign, is key as well.”
“Overall, I’m very happy with this budget,” said Sheehan, “We campaigned on a set of promises and now we are putting them into action. We said we were going to work hard for middle class Canadians and put forward a strategy for long-term economic growth, and both of those things are here front and center.”