Canada unveils pandemic recovery budget
- 19 Apr 2021
Gulf Today Report
Canadian government presents its fiscal plan that would be outlining the country’s recovery plan as virus infection soar.
The 2021 budget is the first from Prime Minister Justin Trudeau’s administration, it is expected to put funds into childcare, wage subsidies and other pandemic recovery measures.
Finance Minister Chrystia Freeland has promised Ottawa "will continue to do whatever it takes" to fight the spread of the coronavirus and support the economy as it emerges from a recession.
Last month she informed the parliament about the administration’s plan for jobs and robust growth.
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Critics have warned against piling on too much debt, after Ottawa's budget deficit exploded over the past year to an estimated Can$382 billion (US$305 billion), according to an update issued in November.
The government would set aside funding for health care, support for households, firms and vulnerable groups.
Funding is also expected to be set aside for a "green new deal", pinning Canada's recovery on renewable energy investments.
According to a media report, the government would be extending wage and rent subsidies through the fall.