The 2020 FES included many initiatives that are important for the Orléans community and that I have advocated for directly. It also demonstrates that the Government is continuing to execute its plan to fight COVID-19 and to support Canadians to the other side. With vaccines on the horizon, the end to this crisis is in sight, and that means it’s time to look at what comes next. We have an ambitious plan to rebuild a strong, resilient economy that works for everyone.
Support for families
Providing immediate relief to low and middle-income families with young children by providing up to $1,200 through the Canada Child Benefit for children under the age of 6.
Moving forward with our plan to create a Canada-wide Early Learning and Child Care system, beginning with a federal secretariat to support this work and new investments to support early childhood educators.
Reducing student debt by eliminating interest on the federal portion of Canada Student Loans and Canada Apprentice Loans for 2021-22.
Support for Seniors
Investing in our emergency health response, including rapid testing, PPE, and a new $1 billion-dollar Long-term Care Fund;
We are committing $38.5 million to support training up to 4,000 personal support worker interns;
A new Canadian Drug Agency that would negotiate drug prices on behalf of all Canadians, thereby lowering costs
Support for Businesses
The Canada Emergency Wage Subsidy has been extended until June 2021, and the government proposes to increase the maximum subsidy rate back to 75 per cent. This will help workers keep their jobs.
The Canada Emergency Rent Subsidy and the Lockdown Support will provide direct rent and mortgage support (up to 90 per cent) until June 2021 for organizations affected by COVID-19.
The government is creating a new stream of credit support for businesses in the tourism, hospitality, travel, and arts and culture sectors which have been particularly hard hit.
Support for individuals
Providing grants of up to $5,000 to homeowners to help them make energy-efficient improvements to their homes.
$400 Home Office Expense income tax deduction
In August, the government announced the Canada Recovery Benefit, the Canada Recovery Caregiving Benefit, the Canada Recovery Sickness Benefit and enhanced Employment Insurance. Each will be in place through the fall of 2021.
Our shared values
Putting climate action at the center of our plan to create a million jobs.
Bolstering training support for those hit hardest by the pandemic, including marginalized and racialized women, Indigenous peoples, persons with disabilities and new Canadians, including with an investment of $274.2 million over 2 years, beginning in 2021-22.
$1.5 billion starting in 2020-21, and $114.1 million per year ongoing thereafter to accelerate work to lift all long-term drinking water advisories and stabilize funding for water and wastewater infrastructure, including operation and maintenance costs, in First Nations communities.
Building on these investments, the government proposes an additional $606 million over 5 years, starting in 2021-22, to allow the CRA to fund new initiatives and extend existing programs targeting international tax evasion and aggressive tax avoidance.
When the virus is under control and our economy is ready for new growth, the government will deploy a meaningful and targeted stimulus package to jumpstart our recovery.
Total support so far includes $322 billion in direct measures to fight the virus and help people; and $85 billion in tax and duty deferrals. This is the largest economic relief package for our country since the Second World War
We understand that this crisis demands targeted, time-limited support to keep people and businesses afloat and to build our way out of the COVID-19 recession.
The government is taking on debt so Canadian households and families do not have to, preventing households from going bankrupt, and businesses from permanently shutting their doors.
At the same time, the COVID-19 debt is affordable, with debt-servicing costs at a 100-year low, which we are locking in over the long-term. Brighter days are ahead, and once the need to support the economy has passed, time-limited measures will be withdrawn.