| Department of Finance Canada | backgrounders
The government is investing in productivity and innovation and bringing more Canadians into the workforce. This is part of the government’s economic plan to build a more innovative economy, with more investment opportunities and sustainable wage increases for Canadians. This Fall Economic Statement is also strengthening pro-worker policies to level the playing field.
| Department of Finance Canada | backgrounders
Canadians rightfully expect and deserve to feel safe in their communities. However, with a rise in gun violence, restrictive anti-choice groups, and targeted hate crimes, the fabric that ties our communities together is being threatened. As our country grows, we must take action to build a future where communities welcome diversity as our strength, where women’s rights are protected, and where every Canadian feels safe in the place they call home. The 2024 Fall Economic Statement is taking action to make our communities safer, vibrant, and more inclusive.
| Department of Finance Canada | backgrounders
The government is amending the mortgage insurance rules to remove the requirement to apply the minimum qualifying rate on low-ratio mortgages that switch from a federally regulated lender to any new lender at renewal, effective December 16, 2024.
| Department of Finance Canada | backgrounders
As part of the federal government’s commitment to economic reconciliation, the government announced in Budget 2024 that it will provide up to $5 billion in Indigenous loan guarantees to unlock access to the capital needed for Indigenous groups to make major economic investments.
| Department of Finance Canada | backgrounders
The government is taking action to make life cost less and put more money back in your pocket. Our economic plan is reducing everyday costs, cracking down on hidden fees, strengthening competition—especially in the grocery sector, making banking easier and more affordable and helping all communities.
| Department of Finance Canada | backgrounders
The government is investing to build homes at a record-breaking pace, helping Canadians find an affordable place to call home, and making the boldest mortgage reforms in decades to lower costs. The government is also working with provinces and territories to protect renters.
| Department of Finance Canada | backgrounders
The key goal of Canada’s consumer-driven banking framework is to ensure that the financial data of Canadians and small businesses is shared safely and securely. About nine million Canadians currently share their financial data by providing confidential banking credentials to service providers.
| Department of Finance Canada | backgrounders
Canada’s economic potential is dependent on the success of Canadians. The 2024 Fall Economic Statement announces new initiatives to secure economic growth and protect jobs, particularly in light of new economic uncertainties in North America and globally following the U.S. election.
| Department of Finance Canada | backgrounders
With over $3 trillion in assets, Canadian pension funds are renowned around the world for being well-funded and well-managed, ensuring their long-term ability to provide financial security and dignity to retirees across Canada.
| Department of Finance Canada | backgrounders
The Scientific Research and Experimental Development (SR&ED) tax incentives are a proven cornerstone of Canada’s innovation strategy, already supporting over 22,000 businesses.
