Today, the Deputy Prime Minister and the Minister of Finance, the Honourable Chrystia Freeland delivered Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020 highlighting our Government's plan to continue to protect Canadians' health, jobs, and the economy.
Our priority continues to be fighting the virus and protecting the health and safety of Canadians. Since the beginning, the Government of Canada has provided extraordinary support to the provinces and territories with more than eight of every ten dollars spent to fight COVID-19 in Canada coming from the federal government. With this Fall Economic Statement, we are continuing our plan.
We are investing in our emergency health response, including rapid testing, PPE, and a new Long-term Care Fund; ensuring that every Canadian can be confident they will have access to an effective vaccine, for free, once it is ready.
Further, we are supporting businesses with an increase to the maximum rate of the Canada Emergency Wage Subsidy to 75%. and adding a new stream of credit supports for hard-hit sectors including tourism, hospitality, and arts and culture with the Highly Affected Sectors Credit Availability Program.
To help families with young children through the pandemic, we are providing temporary support of up to $1,200 in 2021 for each child under the age of six for families entitled to the Canada Child Benefit.
This crisis demands targeted, time-limited support to keep Canadians and businesses afloat and to build our way out of the COVID-19 recession. The Government of Canada is better positioned to take on debt so households and families do not have to, preventing household bankruptcies and businesses closures. At the same time, the COVID-19 debt is affordable with debt-servicing costs at a 100-year low, which we are locking in over the long-term.
Brighter days are ahead. Until then, our Government has a plan to get us through the COVID-19 Pandemic and to rebuild Canada's economy.
In the meantime, we are looking to the future with a meaningful and targeted stimulus package to jumpstart our recovery once the virus is defeated. We are laying the groundwork for a Canada-wide child-care system; bolstering training support for those hardest hit, including marginalized and racialized Canadians; putting climate action at the centre of our plan to create a million jobs; and providing grants to homeowners to help them make energy-efficient improvements to their homes. This down-payment investment will lead Canada to a cleaner, more inclusive, more innovative, and more competitive economy.
During the month of November, Burlington continued to be a compassionate community. While we were not able to gather on Remembrance Day at the Cenotaph or the Naval Monument, it was wonderful to see the commitment of our community to honouring those who served and continue to do so. Thank you to the Burl-Oak Naval Veterans and the Royal Canadian Legion Burlington Branch 60 for their work in bringing Remembrance Day into our homes and for the work you do year round as veterans advocates.
As I look back on 2020, I want to look back on the outstanding work that took place in our community in ensuring that no-one went hungry. Thank you to organizations such as Food for Life and the Burlington Food Bank for your gargantuan efforts in ensuring this could happen. In the coming weeks, we will see food drives from the Burlington Teen Tour Band Boosters and the Gift of Giving Back in our community. Please consider making a donation, if you are able.
This holiday season, I encourage you to shop local, stay warm, check in on loved ones, and indulge in the things that bring you joy.
Hon. Karina Gould
Member of Parliament
To read or watch the full Fall Economic Statement, please consult the link found here.
To continue reading, please consult the link found here.