A Record to be Proud of

February 16, 2021

By working together with Canadians coast to coast to coast our Government has accomplished much since first coming to office in 2006. We’ve done so by remaining firm to our core principles: keeping taxes low, creating jobs, and promoting economic growth.

The results are showing. Our economy has created nearly 1.2 million new jobs since the depth of the recession – overwhelming full-time and in the private sector. The overall federal tax burden is at its lowest level in 50 years, meaning more money in the pockets of hard-working Canadians. Seniors are saving approximately $2.8 billion due to our Government’s low-tax initiatives. And Bloomberg recently reaffirmed Canada’s standing at the second best place in the world to do business.

Most importantly our Government has done all of this while remaining committed to returning to balanced budgets in 2015. This is a commitment that we intend to keep.

For families, our Government has been steadfast in providing the necessary support and tax relief needed for families to flourish. Most recently, we introduced a new suite of family tax measures that will benefit every single family with children under the age of 18. This will include the enhanced Universal Child Care Benefit (UCCB) which will provide an additional $720 per year per child under the age of 18 to every single family in Canada.

Job-creating small businesses – the backbone of our economy – are also seeing benefits. We recently introduced the Small Business Job Credit, which is estimated to result in savings of approximately $550 million for small businesses over the next two years. In total, small businesses have seen their taxes reduced by 34 per cent since 2006.

These measures, along with others such as cutting the GST, standing up for Canadian values on the world stage, and making our streets safe, are ensuring that Canada continues to remain the best place in the world to raise a family, start a business, and thrive.

Going forward, we will remain committed to these principles and we look forward to working with Canadians to build on this record.