Minister Beech highlights how the Fall Economic Statement makes life more affordable for Manitoba families

WINNIPEG, MB, Dec. 4, 2023 /CNW/ - Today, the Honourable Terry Beech, Minister of Citizens' Services, met with community members in Winnipeg to discuss how the government's economic plan is making life more affordable for Canadians, as part of the 2023 Fall Economic Statement.

The government's economic plan is building a strong economy that works for everyone—with sustainable and fair consumer practices that Canadians can rely on. This plan is showing results.

Over a million more Canadians are employed today compared to before the pandemic. Inflation is coming down, wage increases are outpacing inflation, and private-sector economists now expect Canada to avoid the recession that many had predicted.

In the face of global economic challenges, many Canadians have been feeling the pressure, especially with rising grocery prices. In response, the 2023 Fall Economic Statement is focused on alleviating the higher costs.

The government is taking action to enhance competition in the grocery sector, reducing costs and increasing choice for Canadians. This includes the introduction of the Affordable Housing and Groceries Act, part of the Amendment to Competition Act (Bill C-56). Furthermore, Canada's major grocery chains, controlling 76% of the market, have committed to stabilizing prices. These measures are in addition to the grocery rebate our government introduced earlier this year.

The government has also introduced a Grocery Task Force, responsible for overseeing these efforts and investigating practices such as "shrinkflation". This task force will ensure that grocers fulfill their promises, and the government remains open to implementing new strategies, including tax measures, to support this initiative.

The Government of Canada will continue to work with all Canadians to build a strong, fair economy that works for everyone.

Quotes

"The steps we are taking, as part of the 2023 Fall Economic Statement, directly address the immediate concern of rising grocery prices, which Canadians are feeling across the country. With the introduction of the Affordable Housing and Groceries Act, we are helping to stabilize prices and ensure the market is fair with more choices for you."
– The Honourable Terry Beech, Minister of Citizens' Services

"Our economic plan is about building a strong economy that works for everyone, and this Fall Economic Statement is the next phase of our plan. With a focus on supporting the middle class and building more homes, faster, we are taking action on the priorities that matter most to Canadians today—and we will continue doing everything we can to deliver for Canadians from coast to coast to coast." 
– The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

Quick Facts

• New measures in the 2023 Fall Economic Statement are built upon the government's responsible economic plan, which sees Canada maintain both the lowest deficit- and net debt-to-GDP ratios in the G7.
• Canada's economic plan is working:
  • Canada's unemployment rate, for the last 21 months, has been lower than at any time under the previous government. Over a million more Canadians are employed today compared to before the pandemic.
  • Wages have outpaced inflation for the past nine months.
  • The International Monetary Fund projects Canada to see the strongest economic growth in the G7 next year.
  • According to the OECD, in the first half of this year, Canada received the third-most foreign direct investment of any country in the world—and the highest per capita in the G7.

Associated Links

• 2023 Fall Economic Statement
• Government of Canada releases 2023 Fall Economic Statement
• 2023 Fall Economic Statement: Key Measures
• Backgrounder: Canada's Housing Action Plan
• Backgrounder: Supporting a Strong Middle Class
• Backgrounder: Building an Economy That Works for All Canadians

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SOURCE Employment and Social Development Canada

For media enquiries, please contact: Erik Nosaluk, Director of Communications, Office of the Minister of Citizens' Services, Terry Beech, [email protected]; Media Relations Office, Employment and Social Development Canada, 819-994-5559, [email protected]