Monday, April 28, 2025

Latest

Provinces Reach Deal with Federal Government Over $19 Billion Safe Restart Agreement

Provincial and territorial governments have come a deal with the federal government, and as a result will be receiving billions of dollars in transfers in order to safely continue reopening vital services during the coronavirus pandemic.

According to Prime Minister Justin Trudeau, Canada’s federal government has agreed to contribute a total of $19 billion under the Safe Restart Agreement. The funds will be distributed according to population sizes, and will help provinces with various expenses including child care, health care including mental health resources, aiding vulnerable populations, funding personal protective equipment, as well as public transit. Moreover, provinces can allocate portions of the funds towards helping their respective municipal governments with surging expenses amid declining revenues.

The Safe Restart Agreement also includes a sick leave provision, which will provide up to 10 days of paid sick leave in order to deter those working in hazardous conditions from coming to work ill. However, some provincial governments argued that the funds should not come attached with conditions, and instead allow provinces to allocate the money as they see fit. Nonetheless, Justin Trudeau outlined several priority areas that need to be addressed with the $19 billion, such as increased coronavirus testing and support for vulnerable people.

However, the Safe Restart Agreement does not include a provision for public education, given that it is overseen by provincial governments. With a new school year approaching in the fall, many parents are becoming increasingly worried if their children will be able to physically attend school.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Bell Q3 Earnings: Massive Impairments. Guidance Cuts. A Mess.

Alamos Gold Q3: Record Revenue & Production Amid Rising Costs

The Junior Mining Market Is Back

Recommended

Germany Looks To Modernize Military Recruitment But Stops Short of Conscription

First Majestic Silver Posts Topline Revenue Of $146.1 Million In Q3 2024

Related News

Bank Of Canada Aggressively Adding Provincial Bonds and Mortgages to their Balance Sheet

Last week the Bank of Canada announced sweeping new measures to add liquidity to the...

Friday, March 27, 2020, 04:30:12 PM

US Posts Another 4M Jobless Claims; Over 26M in Last 5 Weeks

This morning the Department of Labor announced the initial jobless claimes for the week ended...

Thursday, April 23, 2020, 10:23:46 AM

Federal Government Announces $1.7 Billion in Aid For Oil Sector: Funds Will Be Used to Cleanup Canada’s Orphan Wells

The coronavirus pandemic has wreaked havoc across the country, adding a significant blow to already-struggling...

Friday, April 24, 2020, 09:45:00 AM

Could There Be a Global Food Shortage? You Betcha’

The COVID-19 pandemic has led to the UN warning the public about the possibility of...

Tuesday, March 31, 2020, 08:33:33 PM

Businesses In Canada Don’t Want To Invest, New Study Reveals

A recent C.D. Howe Institute study revealed that business investment in Canada — which has...

Thursday, August 25, 2022, 12:38:00 PM