The federal government is spending its way toward post-pandemic recovery.
Finance Minister Chrystia Freeland delivered the first federal budget in two years in the House of Commons today, announcing $101.4-billion in new spending—including $30-billion set aside over five years to develop a national $10-a-day childcare program.
Freeland also outlined the government’s intention to introduce a federal $15 minimum wage, with provisions to ensure that where provincial or territorial minimum wages are higher, that wage will prevail.
Money is also being earmarked to help get the economy back on track with the extension of a number of existing programs and introducing a Canada Recovery Benefit. Freeland acknowledged the frustration and fatigue Canadians are facing as a result of dealing with COVID-19.
She says the budget, which is focused on middle-class Canadians is one that will help to pull more Canadians up into the middle class. It also focuses on what Freeland calls a “clean and green” economy.
(Image via CPAC.)
The country’s tourism sector is getting a boost with $1-billion to help tourism operations recover and to support festivals and cultural events and the jobs they help create.
Old Age Security is increasing for seniors age 75 and older, and Employment Insurance sickness benefits are being extended from 15 to 26 weeks.
A new Canada Digital Adoption Program is being introduced to help over 160,000 businesses with the cost of new technology. The aim is that 28,000 young Canadians will be trained to work with those businesses to achieve that goal.
$300-million is being provided to underrepresented entrepreneurs through programs like the Black Entrepreneurship Program and the Women Entrepreneurship Strategy.
$18-billion is earmarked to advance what Ottawa calls “meaningful reconciliation with First Nations, Inuit, and the Métis Nation.”
$17.6-billion is being set aside for green recovery, which will help the country reach its target to conserve 25 per cent of Canada’s lands and oceans by 2025 and reach net-zero emissions by 2050.
View the 2021 federal budget summary at this link.
(File photo.)
Provincial Finance Minister Siobhan Coady is pleased with Ottawa’s commitment to affordable child care and the transition toward pandemic recovery.
She says the province lowered the cost of child care to $25 a day and with the federal government’s announcement they’re looking at “what else we can do.”
