The Canada Emergency Rent Subsidy - Real Estate and Construction mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
COVID-19 Relief - Highly Affected Sectors Credit Availability
Program (HASCAP) Guarantee
The grim one year anniversary of the COVID-19 pandemic in Canada
has highlighted that many businesses across the country continue to
struggle financially. Two Federal assistance programs, the
Canada Emergency Wage Subsidy (CEWS) and the
Canada Emergency Rent Subsidy (CERS) have helped by giving
out a combined total of over $77 billion in subsidies, but it is
not enough for many small and medium-sized
businesses.
1
The CEWS was announced nearly a year ago to prevent job loss by
encouraging employers to maintain or re-hire workers previously
laid off via wage subsidies based on revenue
By Carol Thomson
Apr 19, 2021 4:25 PM
Canada’s Finance Minister has proposed a budget that includes more than $101-billion in new spending over the next three years leading to an estimated deficit for the fiscal year at $154.7-billion. In the first budget in two years, Christia Freeland cautioned that the deficit could increase by another $15-billion, depending on any economic slow down from the third wave of the pandemic.
Today’s proposed budget includes $30-billion for child care and early learning by 2026. Freeland says the proposal is to cut the fees for regulated spaces by 50 per cent by next year, reaching a $10 daily average by 2026.
Staff
In its 2021 budget on Monday, the federal government said it’s proposing nearly $30 billion over the next five years towards a national community-based childcare system.
The budget stated that starting in 2021/2022, an investment of up to $27.2 billion over five years will bring the federal government to a 50/50 share of childcare costs with provincial and territorial governments, as part of initial five-year agreements. Future objectives and distribution of funding starting in year six would be determined based on an understanding of need and progress achieved as part of this initial plan, the feds said.
The proposal also aims to reduce fees for regulated childcare down to an average of $10 per day within the next five years in all provinces outside of Quebec which already has affordable fees through its provincial childcare system with a goal of achieving a 50-per cent reduction in average childcare fees by the end of 2022.
Feds Release Budget for the First Time Since March 2019 gx94radio.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gx94radio.com Daily Mail and Mail on Sunday newspapers.