Minister Duclos highlights budget investments granted to Futurpreneur Canada

QUÉBEC, April 22, 2024 /CNW/ - Through Budget 2024: Fairness for Every Generation the Government of Canada is investing to build a Canada that works better for everyone, where younger generations can get ahead, where their hard work pays off, where they can buy a home, and where everyone has a fair chance at a good middle-class life.

Today, the Minister of Public Services and Procurement, the Honourable Jean-Yves Duclos, met with representatives from Futurpreneur Canada as well as young entrepreneurs from Omy Laboratoires in Québec to highlight Budget 2024's $60-million investment to support youth-owned businesses.

Futurpreneur Canada has already helped more than 17,700 young people launch over 13,900 businesses across Canada. This renewed investment will enable the launch and development of approximately 6,250 more businesses owned by young Canadian entrepreneurs.

Budget 2024 is a plan to deliver fairness for every generation.

First, the budget takes bold action to build more homes. Because the best way to make home prices more affordable is to increase supply—and quickly. It lays out a strategy to unlock 3.87 million new homes by 2031. Key measures include launching the new Public Lands for Homes Plan and Canada Rental Protection Fund, enhancing the Canadian Mortgage Charter, and creating a new Canadian Renters' Bill of Rights.

Second, it will help make life cost less. The budget builds on the government's transformative expansion of Canada's social safety net—$10-a-day child care, dental care for uninsured Canadians, the first phase of universal pharmacare—and advances the government's work to lower everyday costs for Canadians. This includes helping to stabilize the cost of groceries, cracking down on junk fees, and lowering the costs of banking. Budget 2024 also makes transformative new investments, including a National School Food Program and the Canada Disability Benefit.

Third, this year's budget will grow the economy in a way that's shared by all. The government's plan will increase investment, enhance productivity, and encourage innovation. It will create good-paying and meaningful jobs, keep Canada at the economic forefront, and deliver new support to empower more of our best entrepreneurs and innovators. This includes attracting more investment in the net-zero economy by expanding and delivering the major economic investment tax credits, securing Canada's advantage as a leader in artificial intelligence, and investing in enhanced research grants that will provide younger generations with good jobs and new opportunities. And it means ensuring Indigenous Peoples share in this growth in a way that works for them.

Budget 2024 will also make Canada's tax system fairer by asking the wealthiest to pay a bit more—so that the government can invest in prosperity for every generation, and because it would be irresponsible and unfair to pass on more debt to the next generations. Budget 2024 is a responsible economic plan that upholds the fiscal objectives outlined in the 2023 Fall Economic Statement, and sees Canada maintain the lowest deficit- and net debt-to-GDP ratios in the G7.

Quotes

"Our government first came to office with a vow to strengthen and expand the middle class. We delivered on that pledge by reducing poverty, especially for children and seniors, and creating millions of good jobs for Canadians. Our work isn't done. Budget 2024 renews our focus on unlocking the door to the middle class for millions of younger Canadians. We'll build more housing and help make life cost less. We will drive our economy toward growth that lifts everyone up. That is fairness for every generation."

- The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

"We're investing significant funds in creating the innovative economy of the future, so every youth has access to the education and resources they need to succeed. Thanks to Budget 2024, our young entrepreneurs will be able to benefit even more from Futurpreneur Canada's programs and services to turn their entrepreneurial dreams into reality, while ensuring their success and prosperity in our growing economy."

The Honourable Jean-Yves Duclos, Minister of Public Services and Procurement

Related products

• Budget 2024: Fairness for Every Generation

• Budget 2024: Address by the Deputy Prime Minister and Minister of Finance

• Budget 2024: Key Measures

• Backgrounder: Fairness for Younger Generations

• Backgrounder: Growing Small Businesses

• Backgrounder: Tax Fairness for Every Generation

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SOURCE Public Services and Procurement Canada

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