Trade and economic growth

After World War II, Canada enjoyed much economic progress. Trade between nations was made more open, and in 1947 oil was found in Alberta which kickstarted Canada’s position as a major player in the global oil market. 1951 was the first year in history that most Canadians had enough to eat, to wear, and somewhere to live. Between 1945 and 1970, Canada experienced some of the best economic growth in the world. Canada today has one of the world’s best living standards, enabled by Canadian hard work and partnerships with others, particularly the USA.

As Canada became richer, it was able to afford better services for its citizens. The Canada Health Act provided basic health coverage for all Canadians, and federal government unemployment insurance was introduced in 1940. Plans were underway for old-age pensions from 1927 onwards, and the Canada and Quebec Pension Plans were put in place in 1965. The provinces and the territories are responsible for funding public education.