The Federal Government’s 2018 Budget touts Canada’s strong economic growth
over the past two years, including real GDP growth of 3.2 per cent since the
second quarter of 2016, an unemployment rate of 5.9 per cent, and significant
improvements in average weekly earnings, consumer confidence, and
household consumption. The Finance Minister expects similar growth in the
near-term. In addition, federal revenues increased by more than 11 per cent in
2017, largely from personal and corporate income taxes.
With this positive economic activity and outlook, the government has presented
an “Equality and Growth,” budget that includes tens of billions of
dollars in new or increased spending over the next six years, with the goal of
further growing government revenues by increasing economic participation
among women, visible minority Canadians and persons with disabilities, as well
as substantial long-term investments in science and technology.