Mr. Speaker, for over a decade now, Canada has been in a period of low economic growth, and middle-class families have found it hard to get ahead. The “Update of Long-Term Economic and Fiscal Projections” shows the impact this period of slow growth has had on the country’s bottom line and speaks to the importance of making smart, necessary investments to strengthen the middle class and grow the economy in the long term. The report was timed with the release of the fiscal monitor to provide a more complete picture of Canada’s fiscal position. In keeping with previous years, the report was published on a government website in an open and transparent way and made available to all Canadians. The long-term projections are based on assumptions that will inevitably evolve. Small changes in growth rates, productivity, or spending have the potential to have a big impact.
The government will continue to invest in its people, its communities, and the skills Canadians will need to prosper in the new, more innovative economy of tomorrow.