Mr. Speaker, I would remind hon. members that the Minister of Finance has been working with the Conflict of Interest and Ethics Commissioner to ensure that he is abiding by all her recommendations and every conflict of interest law and that every appropriate measure is in place.
The commissioner conducted a thorough review before issuing her recommendations, which the minister followed. The Minister of Finance has full confidence in the Conflict of Interest and Ethics Commissioner and in her recommendations. He is prepared to take any measure deemed necessary by the commissioner in order to avoid any conflict or any perceived conflict.
The Conflict of Interest and Ethics Commissioner has the full confidence of Parliament with regard to her ability to do her work with impartiality, integrity and independence. On this side of the House, we respect the commissioner's independence. This is the opposition's attempt to distract from what our government is doing for small businesses and the middle class.
Let us talk about that. I am pleased to rise in the House to go over what our government is doing to improve tax fairness, reduce inequality, and foster inclusive growth. Earlier this month, the government concluded its consultations on its proposals for resolving the issue of tax planning using private corporations. Throughout these consultations, we listened to Canadians from across the country. It is fair to say that the federal government's consultations made it possible for a record number of Canadians to be heard. The Minister of Finance received more than 21,000 submissions and met Canadians from St. John's to Vancouver at roundtables and town halls as well as online forums. I also know that many members of all parties, especially Liberals, did the same thing.
As the new Parliamentary Secretary to the Minister of Finance, I personally met with many Canadians, including small business owners, farmers, and industry representatives to discuss these proposals. On behalf of the Minister of Finance, I would like to thank the many people who participated in the discussion. I especially want to thank them for their frank and extensive dialogue, which will help the government strike the right balance in carrying out its promise to improve tax fairness in order to help the middle class and to achieve inclusive growth.
Yesterday, the Prime Minister announced the steps the government plans to take to further support Canada's small businesses. I will talk about this announcement in a moment, but first I would like to remind my hon. colleagues how we got to where we are today.
First and foremost, I would like to assure all members that the government is committed to guaranteeing a healthy, business-friendly economic climate, as well as protecting the ability of Canadian businesses to invest, grow, innovate, and create jobs. In the two years since we came into office, more than 400,000 jobs have been created, most of them full-time. These results are due in part to strong economic growth and the sound investments our government has made in our economy and our society.
Our fiscal position is better than forecast in March. In fact, for the fiscal year that ended on March 31, we had a budget deficit of $17.8 billion, which is $11.6 billion less than was forecast in 2015. Ours is currently the fastest-growing economy by far in the G7.
The results for the second quarter this year showed that the economy grew by an impressive 4.5%. Over the past four quarters, our economy has grown at the fastest rate since the beginning of 2006. The policies we have put in place since we came into office, which include investing in infrastructure, giving more money back to the middle class, and implementing the Canada child benefit, have been praised worldwide for stimulating the economy and giving middle-class Canadians greater flexibility.
This strong economic growth is proof that the plan we put in place two years ago is working. We began laying the foundation for this economic growth the moment we took office. The first thing we did when we started our mandate two years ago, as people may know, was to raise taxes on the wealthiest 1% so we could cut them for nine million Canadians. This middle-class tax cut has been benefiting nine million Canadians, and we are proud of that. Single individuals who benefit from this tax cut are saving an average of $330 each year, and couples an average of $540 each year.
Our government has also made child benefits more generous and better targeted to those who need them the most. With the new Canada child benefit, we have lifted hundreds of thousands of children out of poverty. Since July 2016, nine out of 10 Canadian families with children are receiving more in child benefits than they did under the previous system.
We also expanded the Canada pension plan to ensure Canadians would be better off financially in their retirement. The strengthened CPP will provide more money to Canadians when they retire. so they can worry less about their savings and focus more on enjoying time with their families.