Yesterday, the Honourable Bill Morneau, Minister of Finance, tabled the Government of Canada’s 2017 federal budget.
Budget 2017 is the next step in the Government’s plan to create jobs and strengthen the middle class. 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. The changes in the economy—both here at home and around the world—present incredible opportunities for the middle class and those working hard to join it.
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.
“This is a good news budget for the Riding of Sault Ste. Marie, as the Government showcases its continued support for our local and national steel industry. Budget 2017 proposes a package of measures to enhance the effectiveness of Canada’s trade remedy system to ensure that tools are in place to respond to unfairly dumped and subsidized imports. This will be ensured through a package of measures that enhance the effectiveness of Canada’s trade remedy system through proposed legislative and regulatory amendments,” said Sheehan. “Building on the success of Budget 2016, the Canadian steel industry will continue to see support from the federal government.”
After experiencing years of financial cutbacks, FedNor will now begin to receive an increase in their budget.
“I’m also pleased that FedNor will be seeing an increase in available funds, as they will be allocated an additional 25 million dollars over a period of five years. The increase of five million dollars over five years brings the total investment to over $230 million and further showcases the federal government’s continued support for Northern Ontario,” said Sheehan.
The Government’s investment in FedNor will work with other initiatives to help strengthen and diversify Northern Ontario. The federal government is investing $1.26 billion to create a five-year Strategic Innovation Fund. This is directed to attract, support, and grow Canadian business in dynamic and emerging sectors, such as advanced manufacturing, agri-food, digital, and cleantech. Budget 2017 will also see improvements in other Government initiatives, such as social infrastructure.
“The aim is to build stronger communities by improving access to early learning, child care and affordable housing. Budget 2017 takes concrete action to improve the quality of life of all Canadians, with more cultural and recreational centres, as well as safe and accessible public spaces. By taking action today—investing in the things that Canadians need to succeed now and well into the future—Budget 2017 will help deliver a growing economy that works for every Canadian,” said Sheehan.