With the first budget from the new Liberal government, Canadians can expect a commitment to strengthen the middle class and grow the economy.

In a pre-budget meeting in Ottawa on February 22, Finance Minister Bill Morneau said an economy that is good for the middle class, is good for the whole country, reaffirming the new governments focus.

Photo Credit: financecanada on YouTube.Finance Minister Bill Morneau.

According to the government, Canadians in the workforce will be sure to have a good standard of living, a secure retirement, and positive future for their children.

They also said they will be putting more resources into getting people out of poverty, investing in research and science, and helping all Canadians reach a level of economic security.

The next budget will be tabled in the House of Commons on March 22, 2016.

In his townhall on Monday, the Minister said it will feature a longer-term growth strategy.

The Minister also announced the appointment of Dominic Barton, Global Managing Director, McKinsey & Company, as the Chair of the new Advisory Council on Economic Growth, which will be put together soon.

The Council will advise the government on creating economic growth, with a focus on the middle class.

The Department of Finance has also updated projections for the next two years.

Submissions, comments and ideas will be accepted until midnight on February 23, 2016.

“The Government is moving forward with a fundamentally new approach—a new plan to transform the economy for the benefit of every Canadian. Now is the time to make investments to build a stronger middle class and foster long-term growth,” said Bill Morneau, Minister of Finance. “At its core, this approach will be about middle class Canadians—our quality of life, the kind of communities in which we live and work, the standard of living we can expect to enjoy, and the kind of opportunities our children will have in the coming decades.”

Canada’s economy has deteriorated since the November Update of Economic and Fiscal Projections, because of the global economy and prices.

With interest rates at historic lows, the Government plans to make targeted investments to help economic growth.