Mr. Speaker, I have the honour to table, in both official languages, the government's fall economic statement.
Middle-class Canadians expect their government and the economy to work for them, not the other way around. It is why two years ago they asked for real change.
They asked us to invest in them, in their communities, and in the economy to create jobs now and to build a better future for them, for their children, and for their grandchildren. They asked us to protect the air that they breathe and to make sure that every child has access to clean drinking water. They asked us to help their families make ends meet and to provide equal opportunities for women and men and children in our country.
Canadians asked us to invest in their future and to put more money in their pockets, to give them a little more breathing room at the end of the month.
When I was door knocking in my riding of Toronto Centre just before being elected, one of my volunteers, a 13-year-old girl, handed me a note. On it was a list of her family members, all of whom needed to find permanent housing, a place to call home.
This little girl had been helping me all day long and now she was asking me to help her and her family to find a safe place to live. Like millions of other Canadians, she asked us to keep our focus on them so that they have the tools and the resources they need to succeed. When Canadians succeed, they grow our economy, they create jobs, and together we build a better future.
We came to office with a plan to help those who are working hard to be successful, not just those who already are. We came to office knowing that growing the middle class is how we grow the economy. Today, we are doubling down on that strategy because it is a strategy that is working.
In just two years, over 450,000 new jobs have been created and youth unemployment is the lowest on record. Economic growth has spiked from the meagre 0.9% when we took over from the previous government to the highest we have seen in over a decade.
The Canadian economy is performing well. In fact, jobs are being created at the fastest pace in over a decade.
In just two years, we have lifted 26 long-term boil-water advisories on reserve. Over 350,000 more students get help each year to afford books, tuition, and to earn a degree. We have effectively doubled the Canada summer jobs program, helping 65,000 students find work during the summer months.
We have given 9 million Canadians a tax cut. With the Canada child benefit, we are lifting 300,000 children out of poverty, and we have put more money in the pockets of nine out of ten families. These families contribute to their community and to the Canadian economy by in turn investing in their family through new skates, piano lessons, or healthier food.
In just two years, we have secured better retirements for Canadian workers today and for future generations with a stronger Canada pension plan.
For that little girl and her family in Toronto and 1.6 million other families in the country, we have invested in the national housing strategy to help make sure they have a safe and affordable place to live.
We have put more money in the pockets of 900,000 seniors living on a fixed income, with increases in the guaranteed income supplement, allowing them more freedom and less worry.
What it boils down to is that in just two years we have built up confidence in the economy and in our middle class. We know when we make these investments in Canadians they grow our economy. That is the fundamental difference between our plan and what happened in the previous decade. In just two years, we are seeing results, very positive results.
Thanks to the hard work of Canadians, our country leads the G7 countries in growth this year and is positioned to continue to lead those countries next year. As our economy grows, the bottom line improves. In this fall economic statement, Canada's fiscal outlook has improved by over $8.5 billion this year compared to what we were expecting in March. In fact, Canada's net debt to GDP ratio, the size of our debt relative to the economy, will continue to decline.
Not only is our plan working, it is working better than expected. Our strong fiscal position allows us to do what other countries would like to do, but cannot afford to do. We are investing in ourselves and in our future.
Our strong fiscal position allows us to do what other countries would like to do but cannot afford to do: we are investing in ourselves and our future. It allows us to take full advantage of the kind of strong economic performance we are seeing now by reinvesting in the middle class, while maintaining the flexibility needed to manage global uncertainty.
Nonetheless, as members on this side of the House know, a thriving economy and a solid bottom line are only half the answer. As the economy grows, we need to make sure that the benefits of that growth are shared with the middle class and all those working hard to get into the middle class.
As we invest directly in Canadians and their families, we have an immediate impact on the economy. On July 20, 2016, nine out of 10 Canadian families began receiving more money, tax-free, from the Canada child benefit. When families like mine stopped receiving benefit cheques, our government was able to put more money directly into the pockets of the moms and dads who needed it most.