Yesterday, the Deputy Prime Minister and Minister of Finance presented Budget 2021. Through this legislation, our government is taking the next steps in our plan to fight COVID-19, while putting people first, creating jobs, growing the middle class and setting businesses on track for long-term prosperity.
Budget 2021 builds on the work we’ve been doing since 2015 to create jobs and economic growth, and to grow the middle class. However, COVID-19 has highlighted the long-standing inequities in our economy that have left too many behind. We know that to grow the middle class, we need to build a recovery that creates jobs and growth for everyone.
About 300,000 Canadians who had a job before the pandemic are still out of work, and many low-wage workers in Canada live below the poverty line, even though they work full-time. That’s why we are proposing to extend business and income support measures through to the fall to continue to support people, and make investments to create jobs and help businesses across the economy come roaring back.
Budget 2021 is a plan that puts us on track to meet our commitment to create 1 million jobs by the end of the year, creates growth for everyone, and grows the middle class. Through this legislation, we will:
• Expand the Canada Workers Benefit to give more support to Canada’s low-wage workers; providing income top-ups to about 1 million more Canadians and lifting nearly 100,000 people out of poverty;
• Establish a $15/hour federal minimum wage;
• Extend EI sickness benefit from 15 – 26 weeks;
• Create nearly 500,000 new training and work experience opportunities for Canadians including 215,000 opportunities for youth.
To learn more about Budget 2021: Click here.