The federal government plans to invest $ 101.4 billion over the next three years to help create jobs and rebound and rebuild Canada’s economy and life after the difficult period.

The main assumptions of the budget are the creation of a nationwide system of early childhood education and care in Canada, in cooperation with provinces, territories and indigenous people. The support is intended to cover all families, regardless of where they live, and also to ease the burden of high childcare costs. The current budget foresees $ 30 billion for this purpose, which will be spent over the next five years, as well as $ 8.3 billion of sustained, regular support for this vision in the future.

The government expanded emergency aid to Canadians and Canadian businesses on their way to economic recovery by extending to September 25, 2021, Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy and Lockdown Support, and by extending the number of weeks of benefits under the Canada Recovery Benefit and Canada Recovery Caregiving Benefit programs.

The sickness benefits under the Employment Insurance are extended from 15 to 26 weeks.

Support for the elderly aged 75 and over under the Old Age Security program is increased.

The government has announced unprecedented changes to support small and medium-sized businesses through transformative programs such as the Canada Digital Adoption Program, which will support 160,000 companies by paying for the acquisition of new technologies. It will then support them with the advice they will need to get the most out of the new technologies. They will be advised by 28,000 young Canadians who will be trained to work with them. Small businesses will receive full cost coverage of up to $ 1.5 million in capital investment in a wide range of assets, including digital technology and intellectual property. The government will spend $ 2.2 billion investing in the development of Canadian entrepreneurs over the next five years.

$ 1 billion has been allocated to rebuilding Canada’s tourism sector, including supporting festivals and cultural events.

The government also intends to support minorities in business. Women in particular, as well as Black Canadians, will receive $ 300 million in funding to open and develop their own businesses.

A federal minimum wage introduced is $ 15 / hour.

Canada will spend $ 8.9 billion in the next six years on the Canada Workers Benefit program, which will support more than 1 million Canadians and lift nearly 100,000 people out of poverty. This will be to support those with the lowest earnings in Canada.

Housing support is provided through the construction, repair and maintenance of 35,000 affordable housing for most vulnerable Canadians, through an investment of $ 2.5 billion and a reallocation of $ 1.3 billion from existing funds.

Ecology is another sector that will receive support from the government. $ 17.6 billion has been allocated to ecological recovery. Emissions are expected to be reduced by 36% by 2030 (reaching 2005 levels). By 2050, Canada should be zero-emissive.

Canada has committed $ 18 billion to bridging the gap between indigenous and non-indigenous peoples, fostering healthy, safe, and prosperous Indigenous communities, and advancing reconciliation with First Nations, Inuit and Métis Nation.

You can find out more about the budget by visiting the government website at this link.

https://www.budget.gc.ca/2021/home-accueil-en.html