Deputy Prime Minister announces action to protect and create good-paying jobs for Canadian workers
- Source: Government of Canada
- Date: June 21, 2023
Summary:
The Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, today announced new measures to protect and create good-paying jobs for Canadian workers. These measures include:
- Investing $2 billion in the new Canada Training Benefit: This benefit will provide financial support to workers who are taking training to upgrade their skills or learn new ones.
- Expanding the Canada Worker Benefit: This benefit will provide a tax-free payment to low- and middle-income workers, starting in 2023.
- Creating a new National Workforce Strategy: This strategy will bring together government, businesses, and labour unions to identify and address the skills shortages that are holding back our economy.
Details:
Canada Training Benefit
The Canada Training Benefit will provide up to $4,000 per year to workers who are taking training to upgrade their skills or learn new ones. The benefit will be available to workers who are employed or self-employed, and who have earned income in the previous year.
The benefit will be paid out in two installments:
- The first installment will be paid after the worker has completed 150 hours of training.
- The second installment will be paid after the worker has completed 300 hours of training.
Workers can use the benefit to pay for a variety of training costs, including tuition, fees, and books. The benefit can also be used to cover the costs of childcare and transportation.
Expanding the Canada Worker Benefit
The Canada Worker Benefit is a tax-free payment that helps low- and middle-income workers. The benefit is based on the worker’s income, and the amount of the benefit decreases as income increases.
In 2023, the Canada Worker Benefit will be expanded to include more workers. The benefit will be available to workers who earn up to $35,000 per year, up from $30,000 per year. The maximum benefit will also be increased from $1,227 to $1,395 per year.
National Workforce Strategy
The National Workforce Strategy will bring together government, businesses, and labour unions to identify and address the skills shortages that are holding back our economy. The strategy will focus on three key areas:
- Investing in skills training: The government will invest in programs that help workers upgrade their skills or learn new ones.
- Connecting workers with jobs: The government will work with businesses to create new jobs and connect workers with the skills that employers need.
- Supporting workers in the transition to new jobs: The government will provide support to workers who are displaced from their jobs due to technological change or other factors.
Quote from Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland:
“Our government is committed to protecting and creating good-paying jobs for Canadian workers. The measures we are announcing today will help workers upgrade their skills, connect with jobs, and transition to new jobs. These measures will help our economy grow and create a more prosperous future for all Canadians.”
Deputy Prime Minister announces action to protect and create good-paying jobs for Canadian workers
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