Secretary of State Stephanie McLean highlights Spring Economic Update 2026 investments to help workers and young people gain skills, experience and support to succeed on Vancouver Island

VICTORIA, BC, May 1, 2026 /CNW/ - In Budget 2025, we outlined our plan to build Canada strong. Since then, we have moved fast to build the major infrastructure, homes, and industries that grow Canada's economy and create lasting prosperity; empower Canadians with better careers and a more affordable life; and protect our communities, our borders, and our way of life.  

We delivered concrete savings for Canadians while supporting key national priorities and keeping investments focused on results. We are maintaining a strong fiscal position, with Spring Economic Update 2026 showing that projected deficits are lower over the fiscal horizon and that we are on track to meet our fiscal anchors.  

Spring Economic Update 2026 is the next step in our plan to build Canada strong for all. It provides a clear update on the strength of Canada's economy, giving Canadians confidence in our plan. It delivers targeted relief to make life more affordable, support workers, and accelerate the construction of homes and major infrastructure. It also strengthens Canada's competitiveness and economic growth while investing in strong, safe communities across the country.  

Today, the Honourable Stephanie McLean, Secretary of State (Seniors), met with the International Brotherhood of Electrical Workers (IBEW) Local 230 in Victoria to highlight key investments from the Spring Economic Update to build trades and support Canada's young people.

Canada's future depends on the people building it. That's why Spring Economic Update 2026 is proposing measures to help workers and young people gain the skills, experience, and support they need to succeed.  

We're making it easier to learn, train, and find meaningful opportunities by:  

• Creating new opportunities for young Canadians: Launching Team Canada Strong, the new $6 billion nationwide effort to recruit, train, and hire 80,000 to 100,000 new Red Seal skilled trades workers in the next five years, aligning with Canada's housing, infrastructure, and defence needs. This measure will help: 
  • Recruit:  
    • We will deploy $2 billion to support young Canadians with paid, job-ready placements that lead directly into registered apprenticeships. 
    • This investment will also support the launch of the Build Canada Apprenticeship Service to provide up to $10,000 for an apprentice's first-year salary,  match apprentices to job opportunities, and offer direct navigation and support to help employers hire, train, and retain apprentices. 
  • Train:  
    • We will boost and modernize apprenticeship training to expedite Red Seal certification with $331 million in funding over five years, starting in 2026–27, and $18 million ongoing. 
    • We will digitize the Red Seal Program, introducing online exams, digital logbooks, and secure credentials to reduce certification timelines, including by creating a single national registered apprenticeship number. 
    • We will expand the Union Training and Innovation Program to enable union-run training centres to upgrade facilities, expand capacity and invest in modern equipment. 
  • Hire:  
    • We will provide $3.4 billion over five years, starting in 2026–27, and $468 million ongoing to address the challenges that can stop apprentices from completing their training and moving into permanent jobs. 
    • We will offer a one-time $5,000 apprenticeship completion bonus to those who obtain certification in a Red Seal trade. 
    • With the Apprenticeship Training Grant, we will provide a $400 weekly top-up while apprentices attend mandatory in-class technical training. 
    • This represents a total payment of up to $16,000 per apprentice, paid in addition to Employment Insurance.
• Making education more affordable: Extending for the 2026–27 academic year the increases to Canada Student Grants and interest-free Canada Student Loans--571,000 students are expected to benefit from the increase to non-repayable grants, and 422,000 students could benefit from the weekly loan limit increase.  

For those already in the workforce, we're making it easier to find meaningful opportunities: 

• Helping tradespeople go where the work is: Enhancing the Labour Mobility Deduction will make it more affordable for skilled workers to travel to where jobs are available. 
• Encouraging shared ownership: Making the Employee Ownership Trust tax exemption permanent will help more workers share in the success of the businesses they help build. 

As part of Budget 2025, young Canadians are gaining opportunities to work and build careers, with 175,000 placements supported in 2026–27 through Canada Summer Jobs, the Youth Employment and Skills Strategy and the Student Work Placement Program.

The Government of Canada is transforming our economy from reliance to resilience. Spring Economic Update 2026 ensures all Canadians can participate in building Canada strong and share in its success. 

Quotes

"The Spring Economic Update 2026 builds on the momentum of our budget, combining strategic investments with sustained fiscal discipline to keep building Canada strong for all--delivering prosperity today and strengthening our economy for tomorrow. At this pivotal moment in Canada's history, we're charting a course through the fog of uncertainty and global headwinds with strength, determination, and ambition--and building one strong Canadian economy, by Canadians, for Canadians." 
–  The Honourable François-Philippe Champagne, Minister of Finance and National Revenue

"Building on the progress of the past year, Canada is unlocking its full economic potential and the way to get there is through the hard work of those who build - skilled tradespeople. These investments will help people start their careers sooner and make it easier to learn, train, and find meaningful opportunities."
– The Honourable Stephanie McLean, Secretary of State (Seniors)

Associated links

• Spring Economic Update 2026: Canada Strong for All
• Spring Economic Update 2026: Key Measures
• Spring Economic Update 2026: Address by the Minister of Finance and National Revenue

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SOURCE Employment and Social Development Canada

Contacts: For media enquiries, please contact: Kirstie Hudson, Press Secretary, Office of the Secretary of State (Seniors), [email protected]; Media Relations Office, Employment and Social Development Canada, 819-994-5559, [email protected]