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.

Video Articles

Why Silver’s Next Move May Be Built on a Much Stronger Base | Mani Alkhafaji – First Majestic Silver

Guanajuato Silver Q1 Earnings: They Finally Post Positive Net Income

We’re in a New Era of Gold Price Discovery | Ryan King – Equinox Gold

Recommended

Mercado Minerals Drills 1,120 g/t Silver Equivalent Over 1.20 Metres At Copalito

Goliath Resources Targets Expansion, Motherlode Source in 50,000 Metre Surebet Drill Program

Related News

Canada’s Core Retail Sales Crater 1.4% In May

Canadian retail sales fell by 0.8% in May to C$66.1 billion, according to Statistics Canada,...

Friday, July 19, 2024, 09:41:38 AM

WHO Warns Coronavirus Outbreaks Have Not Reached Peak in Americas Yet

As the number of coronavirus cases reaches 10 million worldwide, the World Health Organization (WHO)...

Thursday, June 25, 2020, 08:04:00 PM

Food Shortages May Become Reality Amid Coronavirus Pandemic

The global coronavirus pandemic has wreaked havoc across economies, closing down businesses, putting millions out...

Friday, April 24, 2020, 07:50:33 AM

Goldman Sachs Projects Strong US Economy In 2021, But Notes Significant Obstacles Ahead

As the US continues to battle its second, significantly more severe wave of the coronavirus...

Friday, November 13, 2020, 12:06:38 PM

Canadian Business Outlook Clouded by Trade Tensions, Bank of Canada Survey Finds

Two-thirds of Canadian businesses expect their costs to rise and most would increase selling prices...

Thursday, April 10, 2025, 02:54:00 PM