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 the Market May Be Misreading Iran | David Woo

Why US Fertilizer Supply Could Matter a Lot More Now | Pat Varas – Sage Potash

Roscan Gold: Mali Discount Hits Kandiole PEA

Recommended

Antimony Resources Expands New Discovery Following Trenching

Silver47 Kicks Off 7,000-Meter Drill Campaign at Nevada’s Hughes Project

Related News

US Surpasses Grim 100,000 Coronavirus Death Toll, Lifting of Restrictions Will Still Continue

Despite lockdown measures being lifted around the country and non-essential businesses beginning to open their...

Thursday, May 28, 2020, 07:27:00 PM

Draganfly’s COVID Drone Pilot Goes Over Like A Lead Balloon

The smallcap market is adjusting to new realities just like the rest of us. This...

Saturday, May 2, 2020, 08:30:00 AM

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

Canada Not Likely to Meet its Electric Vehicle Sales Target by 2025 Despite Rebates

Despite the growing demand for electric vehicles, it appears that Canada will still fall short...

Saturday, November 14, 2020, 11:54:00 AM

Canadian Retail Sales Slump in July as Consumer Activity Shifts to Services Spending

Retail sales slumped 0.6% in July, marking the third decline in four months, as consumers...

Friday, September 24, 2021, 11:23:00 AM