LA
TUQUE, QC, April 23, 2024 /CNW/ - The federal
government recently delivered Budget 2024: Fairness for Every
Generation.
It is a plan to build a Canada
that works better for everyone, where younger generations can get
ahead, where their hard work pays off, and where they can buy a
home—where everyone has a fair chance at a good middle-class
life.
Today, the Honourable François-Philippe
Champagne, Minister of Innovation, Science and Industry,
visited La Tuque, Quebec, to
highlight Budget 2024 investments in Indigenous reconciliation. The
Minister spoke about the Indigenous Loan Guarantee Program, which
will offer up to $5 billion in loan
guarantees to unlock access to capital for Indigenous communities,
enabling them to share in the benefits of natural resource and
energy projects in their territories and on their own terms. He
also spoke about the Indigenous Housing and Community
Infrastructure investments of $918
million beyond the $5 billion
already available for communities in 2024–2025 to accelerate work
to narrow housing and infrastructure gaps in First Nations, Inuit
and Métis communities. This is in addition to unlocking pathways to
post-secondary education by investing nearly $243 million for the next generation of First
Nations university, college and post-secondary students, building
on the $487.5 million over 10 years
invested in Inuit and Métis post-secondary education strategies
through Budget 2019.
Budget 2024 is a plan to deliver
fairness for every generation.
First, the budget takes bold action to build more homes.
Because the best way to make home prices more affordable is to
increase supply—and quickly. It lays out a strategy to unlock 3.87
million new homes by 2031. Key measures include launching the new
Public Lands for Homes Plan and Canada Rental Protection
Fund, enhancing the Canadian Mortgage Charter, and creating a new
Canadian Renters' Bill of Rights.
Second, it will help make life cost less. The budget
builds on the government's transformative expansion of Canada's social safety net—$10-a-day child
care, dental care for uninsured Canadians, the first phase of
universal pharmacare—and advances the government's work to lower
everyday costs for Canadians. This includes helping to stabilize
the cost of groceries, cracking down on junk fees and lowering the
costs of banking. Budget 2024 also makes transformative new
investments, including a National School Food Program and the
Canada Disability Benefit.
Third, this year's budget will grow the economy in a way
that's shared by all. The government's plan will increase
investment, enhance productivity and encourage innovation. It will
create well-paying and meaningful jobs, keep Canada at the economic forefront, and deliver
new support to empower more of our best entrepreneurs and
innovators. This includes attracting more investment in the
net-zero economy by expanding and delivering the major economic
investment tax credits, securing Canada's advantage as a leader in artificial
intelligence, and investing in enhanced research grants that will
provide younger generations with good jobs and new opportunities.
And it means ensuring Indigenous Peoples share in this growth in a
way that works for them.
Budget 2024 will also make Canada's tax system fairer by asking the
wealthiest to pay a bit more so that the government can invest in
prosperity for every generation, and because it would be
irresponsible and unfair to pass on more debt to the next
generations. Budget 2024 is a responsible economic plan that
upholds the fiscal objectives outlined in the 2023 Fall Economic
Statement and sees Canada
maintain the lowest deficit- and net debt-to-GDP ratios in the
G7.
Quotes
"For the Canadian economy to achieve its full potential,
Indigenous communities must have the chance to make their full
contribution. I am pleased to be in La
Tuque to highlight the Budget 2024 measures that will help
Indigenous communities pursue opportunities and create economic
benefits. With this budget, Canada
is on its way to fairness for every generation."
– The Honourable François-Philippe
Champagne, Minister of Innovation, Science and Industry
Related products
- Budget 2024: Fairness for Every Generation
- Budget 2024: Remarks by the Deputy Prime Minister and Minister
of Finance
- Backgrounder: Key Measures
- Backgrounder: More Affordable Homes
- Backgrounder: A Stronger Social Safety Net
- Backgrounder: Fairness for Younger Generations
- Backgrounder: Economic Growth and Productivity
- Backgrounder: Growing Small Businesses
- Backgrounder: Safer, Healthier Communities
- Backgrounder: A Fair Future for Indigenous Peoples
- Backgrounder: Tax Fairness for Every Generation
- Budget 2024: Canada's
Consumer-Driven Banking Framework
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