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Fall Ecocomic Statement

This month, I would like to highlight our Government’s 2020 Fall Economic Statement, detailing our strong fiscal position, our plans to protect and support Canadian workers, families, and businesses during the pandemic and lay the roadwork for our post-pandemic economic recovery. Among many other things, this plan
commits to:
Continuing the Fight
Against COVID-19
• A suite of new investments in rapid testing, contact tracing, and $500 million in procurement of personal protective equipment.
• $1 billion for a new Long-Term Care Fund to help provinces protect people in long-term care now and in the years to come.
Increasing Support for
Workers & Businesses
• Supporting small businesses and non-profits by increasing the maximum rate of the Wage Subsidy to 75 percent, extending the Rent Subsidy and Lockdown Support, and expanding the Canada Emergency Business Account by another $20,000 in no-interest loans.
• Supporting the hardest-hit industries, such as in tourism, arts, and culture by introducing new supports including the Highly Affected Sectors Credit Availability Program and $181 million for Canadian Heritage and the Canada Council for the Arts.
Support for Families
& Children
• A one-time top-up of $1,200 in 2021 for each child under the age of six and $600 for children over six with the Canada Child Benefit to help with increased costs for parents.
Building Back Better:
Supporting Canada’s
Long-Term Recovery
• Committing $100 billion in economic stimulus, which will be implemented over three years.
• Initial investments into a National Pharmacare Program and a Canada-wide Early Learning and Child Care System.
• Addressing the housing crisis by increasing the First Time Home Buyer’s Incentive and committing $12 billion to double affordable rental housing support.
• Green initiatives, including $5,000 grants for homeowners to conduct energy assessments and make energy-efficient improvements, and nature-based climate action, including $3 billion to plant two billion trees and $631 million to restore degraded ecosystems, protect wildlife, and improve resource management practices.
• Creating a new Regional Development Agency for British Columbia to support our unique and diversified economy.
Finally, I would like to introduce our new Constituency Assistant for the Sunshine Coast, Donna Bell. Donna lives in Sechelt and has been an active member of the community. She has a passion for building community and working with people, and we are so thrilled to have her join the team.
I wish you and your family all the best during this holiday season. With vaccinations taking place, and over 410,000 doses arriving by the end of 2020, the light is at the end of the tunnel. As we turn the page on a challenging year, we can look forward with hope and optimism for a better new year.
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