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

The Hidden Environmental Cost of Fertilizer | Robin Dow

Could Silver Stay This High? | Joaquín Marias – Argenta Silver

Can Historic Silver Data Turn Into a New Mine? | Rob Macdonald – Equity Metals

Recommended

First Majestic Drills 3.43 g/t Gold Over 24.4 Metres At Jerritt Canyon

Goliath Resources Secures 100% Ownership of Golddigger Property in BC’s Golden Triangle

Related News

Canada to Start Tracking Gig Workers’ Income Under New Tax Rules

Canada will require digital platforms like Uber and DoorDash to disclose their workers’ earnings to...

Thursday, January 2, 2025, 07:45:53 AM

Gilead’s Antiviral Drug Fails to Treat Coronavirus, Preliminary Study Shows

Gilead Sciences Inc (NASDAQ: GILD) has been running a randomized clinical trial on the experimental...

Thursday, April 23, 2020, 04:16:38 PM

Nio Sees January Sales Slump Due To Coronavirus

Nio Inc (NYSE: NIO) released its January sales figures this morning, and as a result...

Monday, February 10, 2020, 09:01:41 AM

Trump Signs $2.3 Trillion Covid-19 Stimulus and Spending Bill on Hopes Congress Votes to Increase Payouts to $2,000

Following months of deadlock between US lawmakers, a second Covid-19 stimulus bill was finally agreed...

Tuesday, December 29, 2020, 10:38:00 AM

Datametrex Partners With Lab For COVID-19 Testing

Datametrex AI (TSXV: DM) announced this morning that it has entered into a strategic partnership...

Thursday, May 21, 2020, 09:37:53 AM