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Thank you Minister @Bill_Morneau for your service to Canada as Minister of Finance. Your rational and compassionate leadership the last few years, but especially amidst the #COVID19 pandemic, has created a better more prosperous Canada.
#cdnpoli #thread
#cdnpoli #thread
Here are just a few of #BillMorneau’s major achievements as Minister of Finance: introduced the Child Care Benefit (CCB) which gives more money to 9 out of 10 Canadians families, and has lifted more than 300,000 children out of poverty. #cdnpoli #thread
raised income taxes on the wealthiest one percent, in order to cut them for nine million middle-class Canadians. As a result, single Canadians now save an average of $330 each year, with an average savings of $540 each year for couples. #cdnpoli #thread
Canadians have more money in their pockets, with the typical middle class family being more than $2,000 better off every year, compared to 2015 thanks to the CCB and the middle class tax cut. #cdnpoli
according to the OECD, Canadian families now have one of the lowest effective tax rates in the OECD, and the lowest in the G7 – largely thanks to the new Canada Child Benefit and Middle Class Tax Cut. #cdnpoli #thread
passed the Canadian Gender Budgeting Act to enshrine gender budgeting in the government’s budgetary and fiscal management processes and require the Government to publish information on the Gender Based Analysis (GBA+) impacts of all budget measures. #cdnpoli #thread
delivered the first Budget that included a Gender Based Analysis for every budget measure. #cdnpoli #thread
reached an historic agreement with the provinces to enhance the Canada Pension Plan by up to 50%, so Canadians can look forward to a more secure retirement. #cdnpoli #thread
increased the Guaranteed Income Supplement earnings exemption, so that the more than 300,000 seniors across the country who choose to work can keep more of their hard-earned income. #cdnpoli #thread
(pre-COVID) Canadians have created over 1 million new jobs – about 75% of them full-time – pushing unemployment to historic lows. #cdnpoli #thread
major credit rating agencies have reaffirmed Canada’s top rating and praised Canada’s record of “sound and consistent fiscal and monetary policies.” #cdnpoli #thread
celebrated the life of Viola Desmond, a Canadian human rights icon who fought against injustice, with a new bank note featuring Desmond, who is now the first Canadian woman to be featured on a regular circulation Canadian bank note. #cdnpoli #thread
supported Canadians with disabilities, who face financial barriers while entering the workforce, by increasing the income level at which the Canada Workers Benefit is phased out, and increasing the maximum benefit available through the CWB disability supplement. #cdnpoli #thread
enhanced consumer protections for seniors by developing a code of conduct for banks when they deliver services to seniors. #cdnpoli #thread
gave small businesses an opportunity to grow and succeed by lowering the small business tax from 11% in 2015 to 9% in 2019. Canada now has the lowest small business tax rate in the G7. #cdnpoli #thread
expanded the Scientific Research Experimental Development Program (SRED) to make it more accessible to innovative, growing firms. #cdnpoli #thread
helped 100,000 Canadians afford their first home by saving them hundreds of dollars per month on their mortgage through the new First-Time Home Buyer Incentive. #cdnpoli #thread
increased the Home Buyers Plan, and making it more flexible to help more Canadians afford their first home. #cdnpoli #thread
improved access to federal benefits, specifically to people in remote and northern communities by investing $17 million over three years to expand outreach in rural and remote communities, as well as launch pilot outreach activities for urban indigenous communities. #cdnpoli
established an ambitious new commitment to ensure that every single household and business in Canada has access to high-speed internet within the next 10 years, no matter how rural or remote. #cdnpoli #thread
clarified the application of the Medical Expense Tax Credit so that individuals who require medical intervention in order to conceive a child are eligible to claim the same expenses that would generally be eligible for individuals on account of medical infertility. #cdnpoli
improved tax fairness for Canadian families by closing loopholes, eliminating measures that disproportionately favour the wealthy, and cracking down on tax evasion, so that every Canadian has a real and fair chance at success. #cdnpoli #thread
took action to encourage businesses to invest in Canada, and create more good, well- paying jobs by:
allowing businesses to immediately write off the full cost of machinery and equipment used for the manufacturing or processing of goods. #cdnpoli #thread
allowing businesses to immediately write off the full cost of machinery and equipment used for the manufacturing or processing of goods. #cdnpoli #thread
put a price on pollution to address climate change and provided a rebate to ensure 8 out of 10 Canadians families will have more money in their pocket each year. #cdnpoli #thread
oversaw the distribution and launch of the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB) which gives financial support to employed and self-employed Canadians. #cdnpoli
