Details of Economic and Fiscal Projections
This annex includes the details of the government’s economic and fiscal outlook for fiscal years 2019-20 and 2020-21. Budgets and economic updates normally provide a forecast over a five-year horizon in order to reflect medium-term economic forecasts and their associated impact on government revenues and expenses, and the government’s budget plan. However, given the unprecedented degree of uncertainty clouding the economic outlook, providing an economic and fiscal forecast beyond 2021 with an appropriate degree of confidence is not possible at this time, and would potentially be misleading. As a result, this snapshot provides an update of the economic and fiscal outlook to the end of the current 2020-21 fiscal year. The government will provide a forecast with a longer horizon in the fall of this year.
The average of private sector forecasts has been used as the basis for fiscal planning since 1994. This helps ensure objectivity and transparency, and introduces an element of independence into the government’s fiscal forecast. The Department of Finance Canada regularly surveys private sector economists on their views on the outlook for the Canadian economy. The economic forecast presented in this section is based on a survey conducted in May 2020.
The May survey includes the views of 13 private sector economists:
- BMO Capital Markets,
- Canadian Federation of Independent Business,
- CIBC World Markets,
- The Conference Board of Canada,
- IHS Markit,
- Industrial Alliance Insurance and Financial Services Inc.,
- Laurentian Bank Securities,
- National Bank Financial Markets,
- Royal Bank of Canada,
- TD Bank Financial Group, and
- The University of Toronto (Policy and Economic Analysis Program).
Reflecting the significant uncertainty, there is a wider divergence of views surrounding the economic outlook than during normal times (Chart A2.1). Fundamentally, the economic recovery will depend on Canada’s ability to hold the rate of transmission of the virus down. However, many unknowns remain surrounding the path of the virus in key Canadian trading partners, and whether or not the world experiences a resurgence of uncontrolled transmission. Given the unique characteristics of the crisis, and the numerous unknowns surrounding the virus, many alternative paths are possible for the economic recovery and all forecasts should be considered with caution.
The spread of COVID-19 and the resulting closures or curtailment of activities in many sectors has caused a significant disruption in the Canadian economy. Private sector economists expect a record contraction in real GDP of around 6.8 per cent in 2020 with an unprecedented decline to occur in the first half of 2020. The economy is expected to gradually recover, rebounding by 5.5 per cent in 2021 (Table A2.1 below). Along with the contraction in economic activity, the unemployment rate is expected to rise to reach close to 10 per cent on average in 2020 and to decline at about 8 per cent in 2021, still above its pre-COVID-19 level.
Reflecting both the sharp decline in crude oil prices and the negligible increase in consumer prices in 2020 due to softer demand for goods and services, GDP inflation (a measure of economy-wide price changes) is expected to increase by only 0.5 per cent in 2020. As a result, nominal GDP (the broadest measure of the tax base) is expected to decline 6.3 per cent in 2020. The results would leave the level of nominal GDP at $2,158 billion for 2020, or about $231 billion lower than projected in the 2019 Economic and Fiscal Update.
As the Bank of Canada reduced its target rate from 1.75 to 0.25 per cent in March, projections for short- and long-term interest rates have also been revised down by, respectively, 120 and 90 basis points on average over 2020 and 2021 compared to the 2019 Economic and Fiscal Update. Low levels of 0.5 per cent and 0.8 per cent are expected for short- and long-term interest rates on average in 2020, respectively, reducing the costs of debt servicing for governments and providing low borrowing costs for consumers and businesses.
|Real GDP growth1|
|2019 Economic and Fiscal Update||1.7||1.6||1.8||1.7|
|2020 Economic and Fiscal Snapshot||1.7||-6.8||5.5||-0.6|
|2019 Economic and Fiscal Update||1.9||2.0||2.0||2.0|
|2020 Economic and Fiscal Snapshot||1.9||0.5||2.2||1.4|
|Nominal GDP growth1|
|2019 Economic and Fiscal Update||3.7||3.7||3.8||3.7|
|2020 Economic and Fiscal Snapshot||3.6||-6.3||7.9||0.8|
|Nominal GDP level (billions of dollars)1|
|2019 Economic and Fiscal Update||2,306||2,390||2,481|
|2020 Economic and Fiscal Snapshot||2,304||2,158||2,328|
|Difference between Budget 2019 and 2020 Economic and Fiscal Snapshot||0||-227||-145||-186|
|Difference between EFU 2019 and 2020 Economic and Fiscal Snapshot||-2||-231||-153||-192|
|3-month treasury bill rate|
|2019 Economic and Fiscal Update||1.6||1.5||1.6||1.6|
|2020 Economic and Fiscal Snapshot||1.7||0.5||0.3||0.4|
|10-year government bond rate|
|2019 Economic and Fiscal Update||1.5||1.6||2.0||1.8|
|2020 Economic and Fiscal Snapshot||1.6||0.8||1.0||0.9|
|Exchange rate (US cents/C$)|
|2019 Economic and Fiscal Update||75.4||76.2||76.6||76.4|
|2020 Economic and Fiscal Snapshot||75.4||72.4||73.8||73.1|
|2019 Economic and Fiscal Update||5.7||5.8||5.8||5.8|
|2020 Economic and Fiscal Snapshot||5.7||9.8||7.8||8.8|
|Consumer Price Index inflation|
|2019 Economic and Fiscal Update||2.0||2.0||1.9||2.0|
|2020 Economic and Fiscal Snapshot||2.0||0.5||2.0||1.3|
|U.S. real GDP growth|
|2019 Economic and Fiscal Update||2.3||1.8||1.8||1.8|
|2020 Economic and Fiscal Snapshot||2.3||-5.6||5.3||-0.1|
|West Texas Intermediate crude oil price
($US per barrel)
|2019 Economic and Fiscal Update||57||57||58||58|
|2020 Economic and Fiscal Snapshot||57||32||43||38|
|1 Figures have been restated to reflect the historical revisions in the
Canadian System of National Accounts.
Note: Forecast averages may not equal average of years due to rounding.
Sources: Statistics Canada; For Budget 2019, Department of Finance Canada February 2019 survey of private sector economists; for the Economic and Fiscal Update 2019, Department of Finance Canada September 2019 survey of private sector economists; for the Economic and Fiscal Snapshot 2020, Department of Finance Canada May 2020 survey of private sector economists.
Changes to the Fiscal Outlook since the 2019 Economic and Fiscal Update (EFU 2019)
|EFU 2019 budgetary balance||-26.6||-28.1|
|Adjustment for risk from EFU 2019||1.5||3.0|
|EFU 2019 budgetary balance
(without risk adjustment)
|Economic and fiscal developments since EFU 2019 (Table A2.3)||0.1||-81.3|
|Revised budgetary balance before policy actions and investments||-25.0||-106.4|
|COVID-19 Economic Response Plan (Table A2.8)||-8.1||-227.9|
|Policy actions since EFU 2019 (Table A2.9)||-1.3||-9.0|
|Final budgetary balance||-34.4||-343.2|
|Federal debt (per cent of GDP)||31.1||49.1|
|Note: Totals may not add due to rounding.|
Economic and Fiscal Developments since EFU 2019
|Economic and fiscal developments by component1:|
|Change in budgetary revenues|
|(1.1) Income taxes2||1.6||-40.8|
|Of which: Personal income tax||-0.6||-30.9|
|Corporate income tax||2.4||-10.8|
|(1.2) Excise taxes/duties||-2.2||-7.5|
|(1.3) Proceeds from the pollution pricing framework||-0.1||-0.3|
|(1.4) Employment Insurance premiums||0.2||-2.6|
|(1.5) Other revenues||1.0||-19.8|
|(1) Total budgetary revenues||0.4||-71.1|
|Change in program expenses|
|(2.1) Major transfers to persons||-1.2||-9.7|
|(2.2) Major transfers to other levels of government||0.0||-1.0|
|(2.3) Direct program expenses3||1.0||-3.7|
|Of which: employee and future benefits expenses||0.0||-5.0|
|(2) Total program expenses||-0.2||-14.4|
|(3) Public debt charges||-0.1||4.3|
|(4) Total economic and fiscal developments||0.1||-81.3|
|Note: Totals may not add due to rounding.
1 A negative number implies a deterioration in the budgetary balance (lower revenues or higher expenses). A positive number implies an improvement in the budgetary balance (higher revenues or lower expenses).
2 Consists of personal, corporate and non-resident income taxes.
3 Amounts represent the impact of developments before measures – i.e. does not include the impact of measures such as the approximately $14 billion investment in the Safe Restart Agreement.
Due to the unprecedented severity and suddenness of the economic shock, the fiscal outlook for 2019-20 and 2020-21 are subject to a much higher degree of uncertainty than normal.
Relative to the 2019 Economic and Fiscal Update, budgetary revenues are projected to be significantly lower in 2020-21 largely due to the economic impacts of the COVID-19 crisis. Indeed, the projected contraction in federal budgetary revenues is unprecedented since the Great Depression, with an expected decline in 2020-21 more than twice as big as in 2009-10, following the global financial crisis (Chart A2.2).
Income tax revenues have been revised down as the economic shutdown and corresponding labour market and business impacts are expected to result in historically large declines in both personal and corporate income tax revenues.
Excise taxes and import duties have been revised downward due to a decline in taxable consumption and international trade volumes, as a significant amount of domestic and international economic activity has been shut down. Household consumption expenditure is projected to decline by over 6 per cent in 2020, driven by a roughly 40 per cent decrease in the second quarter of the year on an annualized basis.
Proceeds from the pollution pricing framework are projected to be lower as a result of lower demand for GHG-intensive fuel products due to the COVID-19 restrictions.
Employment Insurance (EI) premium revenues have been revised downward, due to the deterioration in the labour market outlook resulting from the crisis.
Other revenues, such as those resulting from sales of goods and services, investments and loans, interest and penalties, and Crown corporations’ net profits, are projected to be much lower in 2020-21, particularly reflecting lower Bank of Canada profits as a result of the secondary market purchases of Government of Canada securities to support liquidity in financial markets. The decrease in Bank of Canada profits reflects the expensing of premiums paid on these bond purchases, which more than offsets interest earnings on the securities in 2020-21.
Relative to the 2019 Economic and Fiscal Update, budgetary expenses are projected to be higher
2020-21 largely due to the economic impacts of the COVID-19 crisis.
Major transfers to persons have been revised up relative to EFU 2019, primarily driven by significantly higher unemployment and EI beneficiaries starting in September 2020, as Canadians are anticipated to transition away from the Canada Emergency Response Benefit (CERB).
Major transfers to other levels of government are higher in 2020-21 as a result of the projected downward revision to the Quebec Abatement.
Direct program expenses – which include pollution pricing proceeds returned, other transfer payments administered by departments, operating expenses, and losses/gains on employee future benefit plans – have been revised up in 2020-21, reflecting the impact of large actuarial losses on employee pension and future benefit plans as a result of the lower long-term interest rate outlook.
Public debt charges are significantly lower in 2020-21 relative to EFU 2019, reflecting the downward revision to forecasted interest rates, which leads to lower interest charges on market debt, pensions and employee future benefits. In addition, lower expected inflation in 2020 results in lower anticipated consumer price index adjustments on real return bonds for the 2020-21 fiscal year.
Summary Statement of Transactions
Table A2.4 summarizes the government’s projected financial position over the forecast horizon. These projections are based on the average private sector forecast for the economy discussed above.
This outlook includes the COVID-19 Economic Response Plan and policy actions taken since EFU 2019.
|Public debt charges||23.3||24.5||19.5|
|Final budgetary balance||-14.0||-34.4||-343.2|
|Per cent of GDP|
|Public debt charges||1.0||1.1||0.9|
|Note: Totals may not add due to rounding.
1 The projected level of federal debt for 2019-20 includes an estimate of other comprehensive income.
Outlook for Budgetary Revenues
|Personal income tax||163.9||170.9||146.3|
|Corporate income tax||50.4||49.2||38.3|
|Non-resident income tax||9.4||9.4||10.7|
|Total income tax||223.6||229.5||195.2|
|Goods and Services Tax||38.2||38.8||30.9|
|Customs import duties||6.9||4.9||4.3|
|Other excise taxes/duties||12.1||11.9||11.2|
|Total excise taxes/duties||57.2||55.6||46.4|
|Total tax revenues||280.8||285.1||241.6|
|Proceeds from the pollution pricing framework1||0.0||2.4||4.3|
|Employment Insurance premium revenues||22.3||22.8||19.9|
|Enterprise Crown corporations||7.1||7.3||-12.0|
|Net foreign exchange||1.7||2.4||0.7|
|Total other revenues||29.1||30.6||2.9|
|Total budgetary revenues||332.2||341.0||268.8|
|Per cent of GDP|
|Total tax revenues||12.6||12.4||11.2|
|Proceeds from the pollution pricing framework||0.0||0.1||0.2|
|Employment Insurance premium revenues||1.0||1.0||0.9|
|Total budgetary revenues||14.9||14.8||12.5|
|Note: Totals may not add due to rounding.
1 This represents those charges applied through the federal backstop, excluding the Output Based Pricing System. All these proceeds will be returned to their province/territory of origin including through Climate Action Incentive payments and other climate action supports.
Table A2.5 sets out the government’s projection for budgetary revenues.
Personal income tax (PIT) revenues—the largest component of budgetary revenues—are projected to decrease to $146.3 billion in 2020-21, or 14.4 per cent, reflecting the impact on employment, hours worked and taxable income from the COVID-19 crisis. This decline reflects projected labour market impacts from the COVID-19 crisis through layoffs, work absences and fewer hours worked, particularly in Canada’s service sector. Investment incomes also account for parts of the decline due to lower projected interest rates, capital gains and dividend payments.
Corporate income tax (CIT) revenues are projected to decrease by $11.0 billion, or 22.3 per cent, to $38.3 billion in 2020-21. Lower corporate profitability and general economic weakness due to the COVID-19 quarantine measures primarily explain this decline.
Non-resident income tax revenues are income taxes paid by non-residents on Canadian-sourced income, notably dividends and interest payments. These revenues are projected to increase to $10.7 billion in 2020-21, or 13.6 per cent, as non-resident taxpayers are expected to repatriate previously-earned income to their home jurisdictions during the crisis.
Goods and Services Tax (GST) revenues are forecast to fall to $30.9 billion in 2020-21, or 20.4 per cent, reflecting the temporary shutdown of large portions of the retail sector and the introduction of the enhanced GST credit.
Customs import duties are projected to decline 28.4 per cent in 2019-20 due to removal of retaliatory tariffs on steel, aluminum and other products that had temporarily raised revenue. These are then projected to fall further from $4.9 billion in 2019-20 to $4.3 billion in 2020-21, or 11.7 per cent, due to lower imports and a waiver of customs duties on medical goods of importance to combatting the spread of COVID-19.
Other excise taxes and duties (OETD) are projected to decline to $11.2 billion in 2020-21, or 6.3 per cent, reflecting decreased demand during the downturn.
In 2020-21, EI premium revenues are projected to decrease by 12.6 per cent to $19.9 billion, due to declining employment income as a result of the crisis, as well as a decrease in the EI premium rate from $1.62 in 2019 per $100 of insurable earnings to $1.58 in 2020.
Other revenues consist of three broad components: net income from enterprise Crown corporations; other program revenues from returns on investments, proceeds from the sales of goods and services, and other miscellaneous revenues; and revenues in the Exchange Fund Account.
Enterprise Crown corporation revenues are projected to decrease significantly in 2020-21. In particular, the decrease in projected revenues reflects the expensing of premiums paid on Bank of Canada purchases of Government of Canada securities on the secondary market to support liquidity in financial markets, as well as the provisioning for loan losses stemming from COVID-19 relief measures.
Other program revenues are affected by consolidated Crown corporation revenues, interest rates, inflation and exchange rate movements (which affect the Canadian-dollar value of foreign-denominated assets). These revenues are projected to decline by 31.9 per cent or $6.6 billion in 2020-21 primarily due to a decline in interest and penalty revenue of $4.4 billion and return on investments of $1 billion as a result of lower interest rates and interest and penalty waivers provided as part of the government’s COVID-19 response, along with a $1.2 billion projected decline in revenue from sales of goods and services.
Net foreign exchange revenues, which consist mainly of returns on investments held in the Exchange Fund Account, are volatile and sensitive to fluctuations in foreign exchange rates and foreign interest rates. These revenues are projected to decrease due mainly to lower projected interest rates and lower forecast gains on sales of securities.
Outlook for Program Expenses
|Major transfers to persons|
|Employment Insurance benefits1||18.9||20.1||30.8|
|Canada Emergency Response Benefit2||0.0||7.4||73.1|
|Major transfers to other levels of government|
|Canada Health Transfer||38.6||40.9||41.9|
|Canada Social Transfer||14.2||14.6||15.0|
|Territorial Formula Financing||3.8||3.9||4.2|
|Gas Tax Fund||4.3||2.2||2.2|
|Home care and mental health||0.9||1.1||1.3|
|Other fiscal arrangements3||-4.7||-3.8||-4.4|
|Direct program expenses|
|Proceeds from the pollution pricing framework returned4||0.7||2.8||5.2|
|Canada Emergency Wage Subsidy5||0.0||0.0||82.3|
|Other transfer payments||51.8||54.1||107.9|
|Losses (gains) from employee future benefit plans||8.4||10.8||14.9|
|Total program expenses||322.9||350.8||592.6|
|Per cent of GDP|
|Major transfers to persons||4.3||4.7||8.8|
|Major transfers to other levels of government||3.4||3.4||3.7|
|Direct program expenses||6.8||7.1||14.9|
|Total program expenses||14.5||15.2||27.5|
Note: Totals may not add due to rounding.
1 EI benefits include regular EI benefits, sickness, maternity, parental, compassionate care, fishing and work-sharing benefits, and employment benefits and support measures. The remaining EI costs relate mainly to administration and are part of operating expenses.
2 Of the total Canada Emergency Response Benefit, the portion of payments made by ESDC, estimated to be $3.3 billion in 2019-20 and $32.9 billion in 2020-21, are expected to be charged to the EI Operating Account and reflected in EI benefits.
3 Other fiscal arrangements includes the Quebec Abatement (Youth Allowances Recovery and Alternative Payments for Standing Programs); payments under the 2005 Offshore Arrangements; fiscal stabilization payments to Alberta and Saskatchewan; and established terms for repayable floor loans.
4 This will be included as a transfer payment in the Public Accounts of Canada.
5 This will be included as a transfer payment in the Public Accounts of Canada.
6 This includes capital amortization expenses.
Table A2.6 provides an overview of the projection for program expenses by major component. Program expenses consist of three main categories: major transfers to persons, major transfers to other levels of government, and direct program expenses.
Major transfers to persons—which consist of elderly, EI and children’s benefits, as well as the Canada Emergency Response Benefit—are projected to increase to $190.1 billion in 2020-21.
Elderly benefits are projected to reach $59.2 billion in 2020-21, up 5.3 per cent, due to an increase in the population of seniors.
EI benefits are projected to increase 53.1 per cent to $30.8 billion in 2020-21. This reflects an increase in EI regular beneficiaries due to higher unemployment resulting from the crisis as well as increases in work-sharing benefits and sickness benefits.
The Canada Emergency Response Benefit (CERB) was introduced as part of Canada’s COVID-19 Economic Response Plan. CERB is a taxable benefit of $2,000 every 4 weeks, for up to 24 weeks, to eligible workers who have lost income or stopped working due to COVID-19. CERB is expected to cost $7.4 billion in 2019-20 and $73.1 billion in 2020-21.
Children’s benefits are projected to increase 10.7 per cent to $27.0 billion in 2020-21, largely reflecting the one-time increase to the May 2020 Canada Child Benefit payment.
Major transfers to other levels of government—which include the Canada Health Transfer (CHT), the Canada Social Transfer (CST), Equalization, Territorial Formula Financing and the Gas Tax Fund, among others—are expected to increase by 2.4 per cent to $80.6 billion in 2020-21.
Direct program expenses—which include proceeds from the pollution pricing framework returned, the Canada Emergency Wage Subsidy (CEWS), other transfer payments administered by departments, operating expenses and the losses (gains) from employee future benefits—are expected to increase 96.2 per cent to $321.9 billion in 2020‑21. The projected increase in direct program expenses is largely driven by COVID-19 response measures totaling $142.0 billion, including the Canada Emergency Wage Subsidy (CEWS), with an estimated cost of $82.3 billion in 2020-21, and $14.0 billion in funding for the Safe Restart Agreement. As agreements are concluded with provinces and territories on the content of the Safe Restart Agreement, the manner in which these funds will flow to jurisdictions will be further clarified.
Climate Action Incentive payments to people and through other mechanisms are expected to reach $5.2 billion in
2020-21. Other transfer payments administered by departments are projected to increase to $107.9 billion in
2020-21, largely reflecting the important investments made in the COVID-19 response. This includes funding for transfers under the Safe Restart Agreement, the cost of the 25% incentive for the Canada Emergency Business Account (CEBA) and $5.3 billion for the Canada Emergency Student Benefit (CESB). Support for essential workers through a wage top-up ($3.0 billion), to seniors through a one-time payment ($2.5 billion), and to small businesses through the Canada Emergency Commercial Rent Assistance (CECRA) ($3.0 billion), also contribute to increased costs.
Operating expenses reflect the cost of doing business, including current pension service costs, for more than 100 government departments, agencies and Crown corporations. Operating expenses are projected to grow to $111.7 billion in 2020-21. This includes measures totalling $6.3 billion to procure medical and personal protective equipment in response to the crisis, $450 million to support Canada’s academic research community, and $241 million to develop virtual care and mental health tools for Canadians.
Losses from employee future benefit plans—which represent changes in the measurement of the government’s obligations for pensions and other employee future benefits accrued in previous fiscal years—are expected to increase to $14.9 billion in 2020-21. The increased loss is due to the significantly lower long-term interest rate forecasts, which are used to value the obligations.
The budgetary balance is presented on a full accrual basis of accounting, recording government revenues and expenses when they are earned or incurred, regardless of when the cash is received or paid.
In contrast, the financial/source requirement measures the difference between cash coming in to the government and cash going out. This measure is affected not only by the budgetary balance, but also by the government’s non-budgetary transactions. These include changes in federal employee pension liabilities; changes in non-financial assets; investing activities through loans; investments and advances; and changes in other financial assets and liabilities, including foreign exchange activities.
|Pensions and other accounts||6.9||11.0||14.7|
|Loans, investments and advances|
|Enterprise Crown corporations||-7.6||-12.0||-47.6|
|Insured Mortgage Purchase Program||-5.0||-50.8|
|Accounts payable, receivable, accruals and allowances||9.9||4.0||0.9|
|Foreign exchange activities||-2.8||-3.2||3.0|
|Note: Totals may not add due to rounding.|
As shown in Table A2.7, a financial requirement is projected for both 2019-20 and 2020-21. The projected financial requirement in 2020-21 largely reflects financing associated with the budgetary balance and increases in the government’s loans, investments and advances. This latter category includes funding to enterprise Crown corporations to support financing programs for businesses – including to the Business Development Bank of Canada and Export Development Canada under the government’s Business Credit Availability Program, Farm Credit Canada and the Canada Development Investment Corporation – as well as loans to the Canada Mortgage and Housing Corporation for the Insured Mortgage Purchase Program. Other financing arrangements include loans issued by the government under the Canada Emergency Business Account.
COVID-19 Economic Response Plan – Impact Summary
Table A2.8 provides a detailed breakdown of the estimated total impact value of each of the measures from the Plan as announced to date. For more detailed information on each of these measures as well as a regularly updated overview of this summary, visit: Canada.ca/Economic-Response-Plan.
|Total Impact Value1|
|(1) PROTECTING HEALTH AND SAFETY||19,765|
|Support for the Health Care Sector||3,075|
|Funding provided to support public education efforts; increased federal public health measures such as COVID-19 testing and surveillance; research and vaccine development; international support; and purchases of personal protective equipment and supplies. This measure helps provinces and territories to respond to COVID-19 (including $500 million in 2019-20 for public health preparedness, critical health care system needs and to support mitigation efforts as needed), and to protect the health, safety and security of health care workers and patients.|
|PPE and Related Equipment Support for Essential Workers||11|
|Funding to enhance procurement capacity in response to the increased demand related to the COVID-19 response, including increased procurement staff support, increased federal-provincial-territorial coordination, and support for the new COVID-19 Supply Council.|
|Support for Health Canada and the Public Health Agency of Canada||88|
|Funding to the Public Health Agency of Canada and Health Canada to support Canada’s enhanced response to the COVID-19 pandemic.|
|Safe Restart Agreement2||14,000|
|Approximately $14 billion to support the restarting of the country’s economies over the next 6-8 months, including: ramping up testing and contact tracing, securing a sufficient supply of personal protective equipment, supporting people experiencing mental health and problematic substance use challenges and ensuring health care systems have the capacity to manage future outbreaks. These investments will also provide support for vulnerable populations, help ensure the safety of child care centres for both children and educators, support essential municipal services, and provide paid sick leave.|
|Reducing Import Costs to Facilitate Access to Critical Medical Goods, including PPE3||281|
|Customs tariff and sales tax relief (effective March 16, 2020) for goods imported for emergency use by or on behalf of certain health-related entities, including hospitals, first response organizations and care homes, to respond to COVID-19. Waiver (effective May 5, 2020) of customs tariffs on certain imports, including medical supplies such as, personal protective equipment for all importers, including businesses, distributers and individual Canadians.|
Support for COVID-19 Medical Research and Vaccine Developments
(over 2020-21 and 2021-22)
|Funding to enable researchers and the private sector to accelerate the development, testing and implementation of medical and social countermeasures to mitigate the rapid spread of COVID-19 and its negative consequences on people, communities, and health systems.|
|Virtual Care and Mental Health Support||241|
|Funding provided to develop, expand and launch virtual care and mental health tools for Canadians. This measure helps Canadians to safely engage with health providers through virtual health services and will support access to reliable mental health supports in a safe and secure manner.|
|Health and Social Support for Northern Communities||115|
|Funding provided to support northern communities, including support for air carriers, enhanced food subsidies and other emergency health care preparations and response.|
|Enhancing Public Health Measures in Indigenous Communities||285|
|Funding to support community-led responses to the pandemic, and provide targeted increases in primary health care resources for First Nations communities.|
|Support for International Partners||442|
|Funding provided (includes $322.4 million of International Assistance Envelope Crisis Pool and other re-allocated funding) to support international efforts, including vaccine development, address country-specific requests for assistance and to help ensure that international partners can maintain their services for vulnerable populations. This builds on $50 million in international assistance funding announced as a part of the COVID-19 Response Fund and other financing Global Affairs Canada is delivering to support international health needs.|
|Consular Assistance for Canadians Abroad||100|
|Funding (of which $36 million was in 2019-20) to support consular assistance to Canadians abroad, including: increasing capacity at Global Affairs Canada’s emergency response centre; facilitating the return of Canadians stranded abroad; and providing emergency loans and other consular assistance to Canadian travelers.|
|Total – (1) Support for the Health Sector and Safety of Canadians||19,765|
|(2) DIRECT SUPPORT MEASURES||212,155|
|HELP FOR CANADIANS – SUPPORTING INDIVIDUALS|
|Canada Emergency Response Benefit (CERB)||80,0004|
|Funding provided for $2,000 per month in income support ($500 per week) for individuals who have ceased working due to COVID‑19. The program was originally designed to provide 16 weeks of support but as economies slowly and safely restart, many Canadians still face challenges. To ensure Canadians continue to have the help they need as they transition back to work, the government has extended the CERB for up to a total of 24 weeks. Eligible recipients can earn up to $1,000 per month while collecting this benefit.|
|Canada Emergency Wage Subsidy (CEWS)||82,300|
|Payroll support through a 75% wage subsidy, up to $847 per week per employee, for eligible employers whose revenues have decreased by at least 15% in March, or 30% in April, May or June. Eligible employers qualify for the subsidy, retroactive to March 15. On May 15, the government announced its intention to extend the CEWS and undertook consultations as to how the measure could be updated to stimulate rehiring, provide support to employers during reopening and help them adapt to the new normal. The government will soon announce details of the proposed extension, for which funding has been set aside as part of the 2020 Economic and Fiscal Snapshot.|
|10% Temporary Wage Subsidy||2,0805|
|Payroll support that allowed eligible employers to receive a 10% temporary wage subsidy up to a maximum subsidy of $1,375 per employee and $25,000 per employer.|
|Essential Workers Wage Top-Up||3,000|
|Transfer up to $3 billion to the provinces and territories to support wage increases for essential workers. This measure will improve the ability of provinces and territories to attract and retain workers in the essential services.|
|Special GST Credit Top-Up Payment||5,515|
|A special GST Credit Top-up payment, which doubled the maximum annual GST Credit amounts for the 2019-20 benefit year, delivered in April. This measure rapidly provided financial support to over 12 million low- and modest-income individuals and families regardless of employment situation, including low-income seniors and single parents.|
|Canada Child Benefit (CCB) Top-Up Payment||1,997|
|Additional support to about 3.7 million families with children under the age of 18. This measure provided an additional CCB payment of $300 per child on May 20, 2020 (increasing the maximum CCB amount per child for the 2019-20 benefit year).|
|Canada Student Loan Moratorium||190|
|Support for individuals with student debt burden through a moratorium on Canada Student Loan re-payments and interest until September 30, 2020.|
|Temporary Employment Insurance (EI) Measures – Waiving the EI Waiting Period for People in Imposed Quarantine||5|
|Increased income supports for workers who are sick, in quarantine or have been directed to self-isolate because of COVID-19 and are claiming EI sickness benefits. This includes the waiving of the mandatory one-week waiting period for people in imposed quarantine who claim EI sickness benefits and the requirement to provide a medical certificate for EI sickness claims beginning March 15, 2020 or later.|
|Advertising Campaign: Government of Canada’s COVID-19 Economic Response Plan 2020-21||10|
|Funding to inform Canadians and businesses of the financial assistance available to support them during the COVID-19 pandemic, and how they can apply. This measure includes funding for an advertising campaign using TV, print and digital channels and unpaid communications efforts to reach as many Canadians as possible.|
|COVID-19 Communications and Marketing||50|
|Funding for the Privy Council Office to coordinate a whole-of-government communications and marketing strategy that will ensure clear and high visibility of public health advice and guidance, help individuals and businesses understand how to benefit from the range of supports available to them, and provide clear, trusted messaging regarding safety and security, including travel advice.|
|HELP FOR CANADIANS – SUPPORT FOR STUDENTS (Over 2 years)|
|Canada Emergency Student Benefit (CESB)||5,250|
|Funding provided for income support to students and recent graduates who are not eligible for the Canada Emergency Response Benefit or Employment Insurance, and are unable to find work or unable to work due to COVID-19. The benefit amount is $1,250 per month, or $2,000 for those with disabilities or dependants. Eligible recipients can earn up to $1,000 per month while collecting this benefit.|
|Canada Student Service Grant (CSSG)||900|
|The Canada Student Service Grant recognizes students' significant contributions to the COVID-19 efforts, and will provide up to $5,000 to support student's post-secondary education costs in the fall.|
|Expanding Existing Federal Employment, Skills Development, Student and Youth Programming||1,008|
|Funding provided to expand existing federal employment, skills development, and youth programming to support jobs, volunteer opportunities, and skills development placements for students. This includes increasing financial supports under the Youth Employment and Skills Strategy, the Student Work Placement Program, Canada Summer Jobs, and the Canada Service Corps, increasing distinctions-based support for First Nations, Inuit and Métis Nation students, extending federal research scholarships and fellowships and supplementing existing federal research grants.|
|Enhancing Student Financial Assistance for Fall 2020||1,930|
|Funding provided to ensure that new and returning post-secondary students have sufficient funding to pursue their education by doubling the Canada Student Grants for all eligible full-time students to up to $6,000, and up to $3,600 for part-time students, in 2020-21. The Canada Student Grants for Students with Permanent Disabilities and Students with dependants will also be doubled. This measure also includes broadening eligibility for student financial assistance by removing the expected student and spousal contributions in 2020-21 and enhancing the Canada Student Loans Program by raising the maximum weekly amount available to students in 2020-21 from $210 to $350.|
|HELP FOR CANADIANS – SUPPORT FOR SENIORS|
|One-Time Payment for seniors eligible for Old Age Security (OAS) and the Guaranteed Income Supplement (GIS)||2,509|
|Funding provided for a one-time, tax-free payment to seniors during the week of July 6, 2020 to cover increased costs as a result of COVID-19. This measure includes a payment of $300 for all seniors eligible for the OAS pension and an additional $200 for seniors eligible for the GIS. This measure provides a total of $500 to seniors eligible to receive both the OAS and the GIS.|
|New Horizons for Seniors Program Expansion||20|
|Funding provided to expand the New Horizons for Seniors Program to support organizations that offer community-based projects that reduce isolation. This measure will help seniors maintain a social support network and improve their quality of life.|
|Reduction in Registered Retirement Income Fund (RRIF) Minimum Withdrawals||495|
|This measure provides a 25% reduction in the required minimum withdrawals from RRIFs for 2020, in recognition of volatile market conditions and their impacts on many seniors’ retirement savings.|
|Contribution of $9 Million through United Way for Local Organizations (in 2019-20)||9|
|Funding from existing resources provided to support immediate essential services to Canadian seniors impacted by COVID-19 including the delivery of groceries, medications or other needed items, or personal outreach to assess individuals’ needs and connect them to community supports.|
|HELP FOR CANADIANS – SUPPORTING VULNERABLE GROUPS|
|Support for the Homeless (through Reaching Home)||158|
|Funding provided to support people experiencing homelessness during the COVID-19 outbreak, with funding for community partners to help them with measures to manage or prevent an outbreak, such as purchasing beds and physical barriers to help with social distancing or personal protective equipment and supplies.|
|Support for Charities and Non-Profits Serving Vulnerable People||350|
|Funding provided to support vulnerable Canadians through charities and non-profit organizations that deliver essential services to those in need.|
|Support for Women’s Shelters and Sexual Assault Centres, including in Indigenous Communities||50|
|Funding provided to women’s shelters and sexual assault centres across the country, including Indigenous shelters, to address their immediate needs to support women and children fleeing violence in cases where they are unable to safely shelter at home.|
|Support for Children and Youth||8|
|Funding provided to support Kids Help Phone to address the emotional and mental health needs of children and youth resulting from the COVID-19 pandemic.|
Support for Food Banks and Local Food Organizations
(of which, $25 million in 2019-20)
|Funding for food banks and other organizations providing emergency hunger relief across Canada that are facing increased demand for their services. This funding will be used to purchase food and other basic necessities.|
|Support for the Canadian Red Cross||100|
|Funding provided to help the Canadian Red Cross address immediate COVID-19 needs, including enhancing the organization’s response capacity and its support in public health efforts. This measure will also help the Canadian Red Cross to support additional relief and recovery efforts this year related to COVID-19, as well as for future floods and wildfires.|
|Indigenous Community Support Fund||380|
|Funding provided for distinctions-based support for Indigenous communities, with dedicated funding for urban and off reserve Indigenous organizations. This funding supports Indigenous leadership to flexibly design and implement community-based solutions to prepare for and react to the spread of COVID-19 within their communities.|
|Support for the On-Reserve Income Assistance Program||270|
|Funding to address increased demand and help individuals and families meet their essential living expenses. It will also enable additional staff to be hired to better serve First Nations communities and connect individuals to other government programs.|
|Protecting and Supporting Indigenous Women and Girls Fleeing Violence (2020-21 and 2021-22)6||29|
|Funding provided to help build and operate 10 shelters in First Nations communities on reserve across the country, and two shelters in the territories, to support Indigenous women and children experiencing and fleeing violence, and to support engagement with Métis leaders and service providers on an approach for shelter provision and community-led violence prevention projects for Métis women, girls, and LGBTQ2 people.|
|Support for Persons with Disabilities||573|
|Funding provided for a one-time, tax-free payment for Canadians with a valid Disability Tax Credit (DTC) certificate; the creation of a National Workplace Accessibility Stream of the Opportunities Fund for Persons with Disabilities to help Canadians with disabilities and their employers to improve workplace accessibility and access to jobs; and, via existing funding of $1.18 million, for five new projects through the Accessible Technology Program.|
|PROTECTING JOBS AND THE ECONOMY – SUPPORTING BUSINESSES AND WORKERS|
|Canada Emergency Commercial Rent Assistance (CECRA) for Small Businesses||2,974|
|Less: Provincial Contribution||(569)|
|Provides forgivable loans, in partnership with the provinces and territories, to qualifying commercial property owners who in turn lower or forgo rent of impacted small businesses for April, May, and June, with a one-month optional extension to cover July, which will lower rent by 75% for small businesses affected by COVID-19. Impacted small business tenants are those paying less than $50,000 per month in rent, with annual revenues of less than $20 million (at ultimate parent level), and who have experienced at least a 70% drop in revenues on average from April to June.|
|Canada Emergency Business Account (CEBA) (25% incentive)||13,7507|
|Provides interest-free, partially forgivable loans of up to $40,000 to small businesses and non-profits that have experienced diminished revenues due to COVID-19 but face ongoing non-deferrable operating costs such as rent, utilities, insurance, taxes, and employment costs. Businesses will be eligible if they demonstrate having either $20,000 to $1.5 million in total payroll in 2019 or, for businesses with less than $20,000 in total payroll, if they have eligible non-deferrable expenses between $40,000 and $1.5 million in 2020. 25% of this loan is forgivable if repaid by December 31, 2022.|
|Enhancements to Work-Sharing (over 3 years)||12|
|Funding provided to support flexibility for businesses to avoid layoffs by reducing hours and providing EI support for eligible employees who agree to participate in Work-Sharing Agreement. The enhancements consist of extending the maximum duration of Work-Sharing agreements from 38 to 76 weeks, expanding eligibility and streamlining the application process.|
|PROTECTING JOBS AND THE ECONOMY – ADDITIONAL SUPPORTS|
|Alternative Credit Support for Businesses Unable to Access other Emergency Measures||675|
|Provides financing support through a new Regional Relief and Recovery Fund run by Regional Development Agencies to small and medium-sized businesses that are unable to access existing COVID-19 supports.|
|Support for Rural Businesses and Communities||287|
|Provides support to rural businesses and communities through the Community Futures Network, including access to capital. This program is part of the Regional Relief and Recovery Fund.|
|Support for Early Stage Companies||250|
|Provides support through the National Research Council’s Industrial Research Assistance Program to assist innovative, early-stage companies that are unable to access the Canada Emergency Wage Subsidy.|
|Support for Young Entrepreneurs||20|
|Provides support to Futurpreneur Canada to provide payment relief for its young entrepreneur clients facing challenges due to COVID-19 for up to 12 months.|
|Women Entrepreneurship Strategy – Ecosystem Top-up||15|
|Additional funding for the Women Entrepreneurship Strategy (WES) for WES Ecosystem Fund recipient organizations to help women entrepreneurs through the COVID-19 pandemic.|
|Support for Indigenous Businesses and Aboriginal Financial Institutions||307|
|Funding provided to support Indigenous businesses through repayable and non‑repayable contributions, as well as for operating expenses and liquidity pressures of Aboriginal Financial Institutions, and program administration through the National Aboriginal Capital Corporations Association.|
|Support for Local Indigenous Businesses and Economies||133|
|Funding to help Indigenous communities support their local businesses and economies, including $117.0 million to help small and community-owned Indigenous businesses and $16.0 million to support Indigenous businesses operating in the tourism sector.|
|Financial Relief for First Nations through the First Nations Finance Authority||17|
|Funding provided to support interest payment relief to First Nations with existing loans under the First Nations Finance Authority. This funding will directly help First Nations to maintain financial stability and lessen the economic impacts of COVID-19, as well as allocate financial resources to other critical needs during this crisis.|
|Parks Canada Revenue Replacement and Rent Relief||74|
|Funding to replace lost Parks Canada visitor revenue due to the closure of the national parks, national marine conservation areas and national historic sites, and to support the waiver of up to 75 per cent of eligible commercial rent for April, May and June 2020 (or equivalent amounts for annual rents) for eligible business and municipal tenants in Parks Canada places.|
|Granville Island Emergency Relief Fund||17|
|Funding provided to the Canada Mortgage and Housing Corporation to use as emergency relief for Granville Island and sustain its operations for one year.|
|Support for the Federal Bridge Corporation Limited||3|
|Funding for the Federal Bridge Corporation Limited to cover revenue shortfalls experienced by the Seaway International Bridge Corporation due to COVID-19. Funding will ensure the continued safe operation of the bridge.|
|Wage Support for Staff of the Non-Public Funds, Canadian Forces||6|
|Funding for the Department of National Defence to meet payroll requirements of the Staff of the Non Public Funds, Canadian Forces, to compensate for reduced revenues due to the closure of non-essential businesses and programs. In April 2020, over 1,700 employees benefited from wage relief. With the re-opening of some retail outlets and other facilities, the number of supported employees has decreased to approximately 1,350.|
|Support for Northern Businesses||15|
|Funding from existing resources for non-repayable support for businesses in the territories to help address the impacts of COVID-19.|
|PROTECTING JOBS AND THE ECONOMY - ADDITIONAL SECTOR-SPECIFIC SUPPORTS|
|Support for the Air Transportation Sector||331|
|Waiving of ground lease rents for 21 airport authorities that pay rent to the federal government, with comparable treatment for PortsToronto, which operates Billy Bishop Toronto City Airport, from March to December 2020. Rent relief for airports is intended to reduce their cost pressures and help them preserve cash flow.|
|Support for Food System Firms that Hire Temporary Foreign Workers||54|
|Funding to support food system firms incurring incremental health and safety costs associated with new, COVID-19 related requirements for hiring Temporary Foreign Workers. A maximum of $1,500 per individual Temporary Foreign Worker is available for eligible firms. To ease administrative burden on employers, the duration of allowable employment under Labour Market Impact Assessments for low-wage temporary foreign workers has also been extended from one year to two years, as part of a three-year pilot project. Funding is also included to fully refund Labour Market Impact Assessment fees to eligible employers who had applied to hire a temporary foreign worker through the Temporary Foreign Worker Program, but can no longer do so due to the impacts of the pandemic.|
|Support for Fish and Seafood Processors||63|
|Assistance for fish and seafood processors through the new Canadian Seafood Stabilization Fund, to help businesses access short term financing, add storage capacity, adopt new health and safety measures, and to support measures to improve productivity and respond to changing market demands.|
|Support for Fish Harvesters||469|
|Up to $267.6 million for a new Fish Harvester Benefit to help provide income support to self-employed fish harvesters and shareperson crew members and up to $201.8 million for a new Fish Harvester Grant to provide non repayable support to help eligible self employed fish harvesters. New measures or changes to Employment Insurance (EI) are also proposed to allow self-employed fish harvesters and sharepersons crew to access EI benefits on the basis of insurable earnings from previous seasons.|
|Supporting Canada’s Farmers, Food Businesses, and Food Supply||453|
|Support for the continued efficiency and viability of the food system, including through: a new $77.5 million Emergency Processing Fund; up to $125 million in National AgriRecovery Initiatives for beef and pork sectors; and $50 million for a new Surplus Food Purchase Program. The government is working with provinces and territories to increase interim payments from 50% to 75% through AgriStability and continues to explore the possibility of expanding the AgriInsurance program to include labour shortages as an eligible risk for the horticulture sector. The government has also increased the Canadian Dairy Commission’s borrowing limit by $200 million to support the purchase and temporary storage of surplus dairy products (e.g., cheese and butter ) to avoid food waste.|
|Support for Food Inspection Services||20|
|Support for increased food inspection capacity to ensure that critical activities continue in order to protect the integrity of Canada’s food safety system.|
|Emissions Reduction Fund for the Oil and Gas Sector (over two years)||750|
|Funding to support the conventional and offshore oil and gas sectors in undertaking investments and research to reduce greenhouse gas (GHG) emissions, with a focus on methane. Provides support to reduce GHG emissions in the near-term while accelerating capital expenditures that would otherwise be delayed.|
|Cleaning up Former Oil and Gas Wells||1,720|
|Provides financial support to Alberta ($1 billion), Saskatchewan ($400 million) and British Columbia ($120 million) to clean up orphan and inactive oil and gas wells and related facilities, and an additional $200 million (repayable) to the Alberta Orphan Well Association to clean up orphan wells. Funding will stimulate economic activity and maintain jobs in the oilfield services sector in provinces that have been disproportionately impacted by reduced oil and gas sector capital spending.|
|Support for Cultural, Heritage and Sport Organizations||500|
|Funding provided to help address the financial needs of organizations affected by the COVID-19 crisis within the cultural, heritage, and sport sectors.|
|Support for Canada’s National Museums||26|
|Funding to help Canada’s six national museums and the National Battlefields Commission maintain essential services and be ready to reopen their doors to the public once precautionary measures are lifted.|
|Support for Canada’s National Arts Centre||18|
|Funding to the National Arts Centre to support operational costs and cover projected re-opening costs related to the COVID-19 pandemic.|
|Support for the Broadcasting Industry||30|
|Waived Part I licence fees for the 2020-21 fiscal year, providing financial relief to private broadcasters.|
|Support for Canada’s Academic Research Community||450|
|Funding to provide wage supports to universities and health research institutes, whose research staff cannot access existing COVID-19 support measures, and to maintain essential research related activities during the crisis and resume full research operations once physical distancing measures are lifted.|
|Total – (2) Direct Support Measures||212,155|
|(3) TAX AND CUSTOMS DUTY PAYMENT LIQUIDITY SUPPORT||85,000|
|Personal Income Tax Payment Deferral until after August||25,000|
|Return filing due date was deferred until June 1, 2020. Individuals allowed to defer their income tax payments until after August 31, 2020 for new balances that become due on or after March 18 and before September 1, 2020. Estimated to support $25 billion in additional liquidity for individuals with tax owing at filing.|
|Business Income Tax Payment Deferral until after August||30,000|
|Allow businesses to defer income tax payments until after August 31, 2020. The deferral applies to new balances and instalments under Part I of the Income Tax Act that become due on or after March 18 and before September 1, 2020. Estimated to support $30 billion in additional business liquidity.|
|Sales Tax Remittances and Customs Duty Payments Deferral||30,000|
|Allowed businesses to defer to June 30 remittances/payments, normally due at the of end of March, and in April and May, of any GST/HST they had collected on their sales or GST and customs duty payments that had been assessed on imported goods. Estimated to provide up to $30 billion in cash flow or liquidity assistance for Canadian businesses and self-employed Canadians over three months.|
|Total – (3) Tax and Customs Duty Payment Liquidity Support||85,000|
|(4) BCAP AND OTHER CREDIT AND LIQUIDITY SUPPORT||86,450|
|Business Credit Availability Program (BCAP)|
|Canada Emergency Business Account (CEBA) (not including 25% incentive)||41,2507|
|Provides interest-free, partially forgivable loans of up to $40,000 to small businesses and non-profits that have experienced diminished revenues due to COVID-19 but face ongoing non-deferrable operating costs such as rent, utilities, insurance, taxes, and employment costs. Businesses will be eligible if they demonstrate having either $20,000 to $1.5 million in total payroll in 2019 or, for businesses with less than $20,000 in total payroll, if they have eligible non-deferrable expenses between $40,000 and $1.5 million in 2020. 25% of this loan is forgivable if repaid by December 31, 2022.|
|Small and Medium-sized Enterprise Loan and Guarantee Program||40,000|
|Provides credit support to small and medium-sized businesses by offering new financing of up to $12.5 million under the BDC co-lending program and loans of up to $6.25 million under the EDC BCAP guarantee program. The support is delivered through financial institutions to help businesses meet their operational cash flow requirements.|
|Mid-Market Guarantee and Financing Program||To be determined8|
|Support for mid-market businesses offering loans of up to $60 million per company, and guarantees of 75% for loans up to $80 million, through the Business Credit Availability Program offered by BDC and EDC.|
|Large Employer Emergency Financing Facility||To be determined8|
|Bridge financing of $60 million or greater to Canada’s largest enterprises whose needs are not being met by conventional financing, in order to keep operations going. This facility, delivered by the Canada Enterprise Emergency Funding Corporation, a subsidiary of the Canada Development Investment Corporation, is intended to help protect Canadian jobs, help businesses weather the current economic downturn, and avoid bankruptcies of otherwise viable firms where possible.|
|Support for the Agriculture and Agri-Food Sector||5,200|
|Provides $5 billion in additional credit facilities to farmers and agri-food businesses through Farm Credit Canada, and a Stay of Default on eligible Advance Payment Program loans totaling $173 million. Additional credit supports help farm operators and other agri-food businesses mitigate cash flow constraints affecting production cycles and planning.|
|Total (4) – BCAP and Other Credit and Liquidity Support||86,450|
|Credit and Liquidity Support through the Bank of Canada, CMHC and Commercial Lenders9,10||300,000|
|Measures to support financial sector liquidity and market functioning to facilitate continued lending to individuals and businesses. Includes Bank of Canada actions to respond to financial system liquidity pressures and restore functioning of core funding markets.|
|Capital Relief (OSFI Domestic Stability Buffer)||300,000|
|Reduction by the Office of the Superintendent of Financial Institutions of the Domestic Stability Buffer by 1.25% of risk-weighted assets, which has allowed financial institutions to inject up to $300 billion in additional lending into the economy.|
|Total- BCAP and Other Credit and Liquidity Support and Capital Relief||686,450|
|(5) Protecting Health and Safety, Direct and Tax Liquidity Support and BCAP and other Credit Liquidity Support (Lines 1, 2, 3 & 4) (Total Impact Value1)||403,370|
|(6) Less Adjustments11||-175,488|
|(7) Protecting Health and Safety, Direct and Tax Liquidity Support and BCAP and other Credit Liquidity Support (Lines 1, 2, 3 & 4) (Net Fiscal Impact, 2020-21)||227,882|
1 Total impact in 2020-21, unless otherwise specified. Differs from fiscal cost on an accrual
basis (refer to note 11). Numbers may not add due to rounding.
2 Support includes $500 million for PPE and related equipment support for essential workers.
3 Estimate assumes tariff waiver would remain in place through 20-21 fiscal year. This could be repealed sooner.
4 Revised estimate based on observed take-up and eight-week extension.
5 Revised estimate.
6 Profile for the first 2 years (2020-21 and 2021-22) of total funding of $90.6M over five years, and $11.2M ongoing, announced on May 29 to protect and support Indigenous women and girls fleeing violence, including to build new shelters and support operating costs.
7 Estimate. Reflects program expansion announced on June 26 and observed take-up.
8 Estimates of cost/impact under review, pending availability of take-up data.
9 Figures represent lower bound estimates based upon announced credit and liquidity support to date.
10 The accrual impact of activities undertaken by the Bank of Canada and the Canada Mortgage and Housing Corporation to provide credit and liquidity support are reflected in the government's revenues from enterprise Crown corporations.
11 These adjustments represent the difference between the total near-term impact values and the net fiscal impact of these measures on an accrual basis, in 2020-21. The difference is primarily attributable to the accounting treatment of (and provisions related to) credit and liquidity support measures, as well as, to a lesser extent, other cash-accrual accounting differences, and funding or impacts in 2019-20 or 2021-22, which are not included in the net fiscal impact total for 2020-21.
COVID-19 Economic Response Plan – Other Measures
The following additional measures (with no new net fiscal impact) have also been announced as part of the Plan to provide direct support to individuals and businesses as well as support for business credit and financial institutions.
Mortgage Payment Deferral
Increased flexibility provided by the Canada Mortgage and Housing Corporation, private mortgage insurers and lenders for homeowners facing financial difficulties to defer up to six monthly mortgage payments on homeowner mortgage loans. Mortgage insurers are permitting lenders to allow payment deferral immediately. According to the Canadian Bankers Association (CBA), as of June 24, more than 743,000 Canadians have received mortgage deferrals or skip a payment from Canadian banks, which represents about 15% of the number of mortgages in bank portfolios.
Relief for Federally Regulated Pension Plan Sponsors
Temporary moratorium on solvency payment requirements for federally regulated defined benefit plans from April 1, 2020 until December 30, 2020, which helps ensure employers have the financial resources they need to maintain their operations and their pension plans. The government will consult with stakeholders over the coming months on options to provide relief from 2021 funding obligations, as necessary.
Changes to the Canada Summer Jobs Program
To help continue supporting approximately 70,000 job placements for youth ages 15-30, several changes were made to the Canada Summer Jobs program within existing resource levels. Temporary changes to the program for 2020-21 include: an increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee; an extension to the end date for employment to February 28, 2021; allowing employers to adapt their projects and job activities to support essential services; and allowing employers to hire staff on a part-time basis.
Support for Tourism
Destination Canada will co-invest $30 million (funding through an existing allocation of $30M in 2020-21) matched by provincial and territorial marketing organizations to help support locally led marketing programs by encouraging Canadians to discover local tourist sites.
Gas Tax Fund Acceleration
The payment of $2.2 billion in annual federal infrastructure funding for communities under the Gas Tax Fund has been accelerated, with communities receiving funding in one payment in June 2020. Early delivery of funding for 2020-21 will help communities move forward with infrastructure projects that will improve quality of life and help restart local economies.
COMPLEMENTARY ACTIONS TO SUPPORT BUSINESS CREDIT AND FINANCIAL INSTITUTIONS
Regulatory Adjustments for Federally Regulated Financial Institutions and Private Pension Plans
Regulatory adjustments to support the financial and operational resilience of federally regulated banks, insurers and private pension plans, and to reduce some of the operational stress on institutions.
Policy Actions Taken Since EFU 2019
Since 2016, the government has provided a transparent overview of all off-cycle spending. The investments (Table A2.9) ensure that Canadians are continually well served by the programs they rely on and that government operations carry on as usual.
|Government Operations, Fairness and Openness||4||1,232||778||941||488||522|
|Real Property Program Integrity||0||285||285||285||285||285|
|Funding provided to Public Service and Procurement Canada’s Federal Accommodation Program to maintain current office accommodation and related real property service levels to federal departments and agencies.|
|Ensuring Proper Payment for Public Servants||0||280||280||350||0||0|
|Funding to Public Services and Procurement Canada to further stabilize the Phoenix pay system, improve pay processing productivity, eliminate the backlog of outstanding pay transactions, and ensure that data integrity problems resulting from the current pay system do not affect the public service pension system.|
|Revitalizing National Capital Commission Infrastructure Assets||0||11||10||12||3||3|
|Funding for the National Capital Commission to complete required maintenance work on priority infrastructure assets, some of which were damaged in extreme weather events.|
|Real Property Price Protection for Employment and Social Development Canada||2||6||6||6||6||6|
|Less: Funds From CPP Account||0||-1||-1||-1||-1||-1|
|Less: Projected Revenues||0||-1||-4||-4||-4||-4|
|Funding for Employment and Social Development Canada to support price fluctuations related to real property assets.|
|Supporting the Office of the Information Commissioner||0||3||3||3||3||3|
|The Office of the Information Commissioner (OIC) is integral to ensuring Canadians receive timely, accurate and complete responses to requests for government information. Funding is to provide more predictable resourcing for the OIC to ensure it can continue to effectively play its Parliamentary oversight function.|
|Enhancing Support to Canada's Administrative Tribunals||0||3||5||5||0||1|
|Less: Funds Previously Provisioned in the Fiscal Framework||0||-1||-1||-1||-1||-1|
|Funding to the Administrative Tribunals Support Service of Canada to assist with the expanded workload across a portfolio of eleven federal administrative tribunals, which will support access to justice for Canadians on issues ranging from human rights to labour relations to trade.|
|Supporting the Office of the Commissioner for Federal Judicial Affairs and the Canadian Judicial Council||0||4||1||1||1||1|
|Funding to the Office of the Commissioner for Federal Judicial Affairs (FJA) and Canadian Judicial Council's respective mandates to support the judicial discipline process, and to increase ongoing resources within the FJA to support its core mandate.|
|Benefits Delivery Modernization||0||73||69||109||87||101|
|Less: Funds From CPP Account||0||-8||-16||-18||-7||0|
|Less: Projected Revenues||0||-31||-91||-94||-96||-100|
|Funding for Employment and Social Development to implement the first phase of its next-generation information technology and service delivery system to replace the existing legacy systems. The next-generation platform will deliver Old Age Security, Canada Pension Plan (CPP) and Employment Insurance (EI) benefits. As such, investments are partly offset by funds from the CPP Account and projected revenues from EI premiums. Negative fiscal impacts in some years are due to depreciation of capital investment over time coupled with offsets received over a shorter period.|
|Stabilization of Information Technology in support of ESDC program delivery||0||4||18||37||55||65|
|Less: Funds From CPP Account||0||-5||-9||-10||-7||-6|
|Less: Projected Revenues||0||-14||-42||-43||-44||-46|
|Funding for Employment and Social Development to stabilize its existing information technology (IT) systems to ensure continued service delivery while its next-generation IT and service delivery system is being developed and put in place. Funding will support delivery of Old Age Security, Canada Pension Plan (CPP) and Employment Insurance (EI) benefits. As such, investments are partly offset by funds from the CPP Account and projected revenues from EI premiums. Negative fiscal impacts in some years are due to depreciation of capital investment over time coupled with offsets received over a shorter period.|
|Safeguarding Canadians' personal information||0||11||13||13||10||10|
|Less: Funds From CPP Account||0||0||0||-3||-2||0|
|Less: Projected Revenues||0||-2||-7||-7||-7||-7|
|Funding for Employment and Social Development to prevent fraud and enhance the security measures that protect the confidentiality of Canadians’ sensitive information, including Social Insurance Numbers. Funding will support delivery of Old Age Security, Canada Pension Plan (CPP) and Employment Insurance (EI) benefits. As such, investments are partly offset by funds from the CPP Account and projected revenues from EI premiums.|
|Disability Insurance Rate Change and Supplemental Payment||0||396||78||80||83||85|
|Proposed funding for Treasury Board of Canada Secretariat to support a supplemental payment and fund the government’s portion of an increase in the premium rate to ensure the government meets its contractual obligations under the public service Disability Insurance Plan.|
|Real Property Price and Volume Protection||2||79||79||79||79||79|
|Funding for Public Services and Procurement to support price and volume fluctuations related to the management of real property assets.|
|Saskatchewan's 2016-17 Fiscal Stabilization Claim - Results from the Technical Opinion||0||19||0||0||0||0|
|The Minister of Finance offered to have two independent experts provide a joint technical opinion on parts of the assessment of Saskatchewan’s 2016-17 Fiscal Stabilization Claim. This one-time payment to the government of Saskatchewan is based on the results of the joint technical opinion provided by the two experts.|
|Additional Fiscal Equalization Offset Payments to Nova Scotia||0||0||0||0||0||0|
|The government intends to introduce legislation to extend the authority to make additional fiscal equalization offset payments to Nova Scotia for any fiscal year between April 1, 2020 and March 31, 2023 to ensure that Nova Scotia is not penalized by the timing of a recalculation of past royalties attributable to an arbitration settlement that raised Nova Scotia’s offshore revenues for the purposes of Equalization in 2018-19 and thus affects Nova Scotia’s Equalization entitlements until 2022-23. Projected costs of $86 million in 2020-21 and $43 million in 2021-22 are already reflected in the fiscal framework.|
|Increasing Borrowing Limits for Yukon, the Northwest Territories and Nunavut||0||0||0||0||0||0|
|The governments of Yukon, the Northwest Territories and Nunavut have requested that the Government of Canada increase their borrowing limits. Following an assessment of their economic and fiscal outlook, the government proposes to increase the borrowing limit of Yukon from $400 million to $800 million, to increase the borrowing limit of Northwest Territories from $1.3 billion to $1.8 billion, and to increase the borrowing limit of Nunavut from $650 million to $750 million, upon Governor in Council approval. These increased borrowing limits will give the territories greater flexibility to make important investments for their economic development, such as in infrastructure projects, as well as greater fiscal flexibility to address the impacts of COVID-19.|
|Increased Capacity at the Privy Council Office||0||7||15||15||15||15|
|This measure would increase capacity at the Privy Council Office to ensure it can continue to adequately meet its mandate following the creation of the role of the Deputy Prime Minister and Minister of Intergovernmental Affairs and Internal Trade. Other core activities will also be supported by additional funding, such as supporting intergovernmental engagement.|
|Better Services for Seniors||0||46||51||94||0||0|
|Funding for Employment and Social Development Canada to deliver the Old Age Security program, ensuring that seniors are not left waiting for support.|
|Government of Canada IT Operations||0||45||31||32||32||32|
|Funding to Shared Services Canada and the Communications Security Establishment to ensure that federal public servants can work productively and securely in a remote environment.|
|Stabilizing and Improving HR to Pay||0||23||0||0||0||0|
|Funding proposed for the Treasury Board of Canada Secretariat, in support of their role as business owner, for Phoenix stabilization and HR-to-Pay initiatives.|
|Stabilizing the CORCAN Program||0||0||0||0||0||0|
|CORCAN is a rehabilitation program of the Correctional Service of Canada, which provides offenders with employment and employability skills training while incarcerated, and for brief periods of time after they are released into the community. Funding is to address a temporary disruption in CORCAN operations due to the COVID-19 pandemic.|
|Business Resumption and Workplace Health and Safety Guidance||0||2||4||0||0||0|
|Funding to Employment and Social Development Canada to augment the capacities of the Canadian Centre for Occupational Health and Safety, and Transport Canada to enhance support to federally regulated employers as they seek to reopen safely.|
|Growth, Innovation, Infrastructure and the Environment||-5||1,204||486||368||334||330|
|Funding for Fisheries and Oceans Canada to renew the Sustainable Aquaculture Program to continue streamlining regulations, improving regulatory management, and increasing our understanding of the impact of aquaculture operations on the environment.|
|Returning Proceeds from the Pollution Pricing Framework to Certain Sectors||0||12||0||0||0||0|
|Funding proposed for Environment and Climate Change Canada to administer the Climate Action Incentive Fund to return estimated 2019-20 proceeds from the pollution pricing framework to help small and medium-sized enterprises (SMEs), municipalities, universities, schools, hospitals and not-for-profit organizations in jurisdictions where the federal price on pollution is being applied.|
|Strengthening Environmental Enforcement||0||10||10||10||10||10|
|Funding for Environment and Climate Change Canada to improve enforcement and to ensure that environmental laws are respected.|
|Investing in the Global Atmospheric Watch Observatory in Nunavut||0||0||0||1||1||1|
|Funding for Environment and Climate Change Canada to decommission one building and retrofit another to address health and safety risks for staff and support continued research at the site.|
|Canada Energy Regulator||0||33||32||24||24||24|
|Less: Costs to be Recovered||0||-33||-32||-24||-24||-24|
|Funding to renew and enhance the Canada Energy Regulator to allow the organization to fulfil its mandate of ensuring access to safe, affordable and reliable energy while reflecting Canadian’s priorities of great certainty, more transparency, enhanced public participation and an expanded role for Indigenous peoples. Funding would also be used to support data modernization at the Canada Energy regulator to allow the organization to better serve Canadians. All funding would be fully cost-recovered from industry.|
|Targeted Geoscience Initiative and Geo-Mapping for Energy and Minerals||0||13||21||22||22||20|
|Funding for the Department of Natural Resources to renew the Targeted Geoscience Initiative and Geo-Mapping for Energy and Minerals programs in order to advance geoscience research.|
|Indigenous Consultations and Capacity Building for Natural Resource Projects||0||20||17||3||3||3|
|Funding for Natural Resources Canada to: renew the Indigenous Partnership Office-West for two years to build Indigenous capacity to participate in and benefit from natural resource infrastructure projects in British Columbia and Alberta; to strengthen departmental capacity to consider major natural resource development projects undergoing federal impact assessments; and to conduct Indigenous consultations on projects undergoing environmental assessments by the Canada Energy Regulator.|
|Northern Projects Management Office||0||4||4||4||4||4|
|Funding for the Canadian Northern Economic Development Agency and Transport Canada to support the Northern Projects Management Office to improve the environmental review process for proposed major resource development and infrastructure projects in northern Canada.|
|Marine Atlantic Inc.||0||52||53||4||4||4|
|Funding for Marine Atlantic Inc. (MAI) to support its ongoing operations and capital requirements over the next two years. This will allow MAI to continue providing essential ferry service between Newfoundland and Nova Scotia.|
|VIA Rail Inc.||0||165||201||197||191||199|
|Funding for VIA Rail Inc. (VIA) to support its ongoing operations and capital requirements over the next five years. This will allow VIA to maintain services and ensure that VIA’s assets are maintained in a state of good repair and compliant with safety regulations.|
|Supporting Air Passenger Protection and Accessibility Rights||0||12||11||0||0||0|
|Less: Funds Previously Provisioned in the Fiscal Framework||0||-4||-1||0||0||0|
|Funding for the Canadian Transportation Agency (CTA) to respond to a higher number of service and accessibility-related complaints. This will enable the CTA to continue to provide timely dispute resolution services to Canadians when they are unable to resolve issues directly with service providers.|
|Canadian Air Transport Security Authority||0||766||16||16||16||16|
|Less: Year-Over-Year Reallocation of Funding||-5||5||0||0||0||0|
|Funding for the Canadian Air Transport Security Authority (CATSA) to continue status quo operations until the organization is transitioned to a new not-for-profit entity that will deliver security screening services (as announced in Budget 2019), and to expand the use of full body scanners to enhance security screening at key airports. Also includes funding for CATSA and Transport Canada to support the transition to the new entity.|
|Supporting divestiture and operations of Transport Canada ports||0||69||15||7||7||7|
|Funding for Transport Canada to divest certain ports and support the continued operations and maintenance of the remaining ports in its inventory. Divesting certain ports will allow these facilities to be operated in the interests of the communities that they serve. Funding will also allow for continued safety inspections, repairs, and capital investments to ensure that the ports currently managed by Transport Canada are safe for users.|
|Rehabilitation of the Victoria Bridge||0||8||5||2||0||0|
|Funding for Transport Canada to support major rehabilitation work on the Victoria Bridge related to the roadway, including the repair of structural elements and the improvement of its approaches and signalization. These activities will ensure the bridge remains safe and that commuters in the Montreal region can access its roadway.|
|Enhancing federal infrastructure capacity and expertise||0||3||52||56||52||50|
|Funding for Infrastructure Canada to enable the department to continue to deliver infrastructure programs, and to strengthen policy capacity and ensure sound financial stewardship for the government’s infrastructure investments. Also includes funding to support the duties of the Minister of Rural Economic Development.|
|Improving the National Capital Region Crossings||0||5||0||0||0||0|
|Funding for the National Capital Commission to continue technical studies, assessments and planning for an additional National Capital Region crossing. Funding will also support the rehabilitation of the Portage and Champlain Bridges.|
|Disaster Mitigation and Response||0||17||27||2||1||1|
|Less: Funds Previously Provisioned in the Fiscal Framework||0||-5||0||0||0||0|
|Funding to Public Safety Canada and Indigenous Services Canada to support the creation of a taskforce to develop options for a national high-risk flood insurance program and a national action plan for potential relocation. Additionally, funding to Finance Canada to develop insurance-based strategies for addressing broader natural disaster protection gaps, including for earthquakes; leverage Canada’s robust private insurance market; and respond to evolving protection gaps and insurance issues as climate related perils intensify over time. Finally, funding to Public Safety Canada to support the renewal of the National Disaster Mitigation Program.|
|Business Risk Management Programming and Private Sector Insurance||0||0||2||2||2||2|
|Reduction in reference levels||0||0||-2||-2||-2||-2|
|AgriStability program parameters amended to exclude private-sector insurance payments from farm income calculations. Allowing farmers to be compensated for the same loss under both AgriStability and private insurances intends to incent development of private sector alternatives.|
|Expanding Tax Support for Business Investment in Zero-Emission Vehicles||0||20||20||10||10||2|
|To encourage businesses to adopt zero-emission vehicles, the government proposes to provide a full tax write-off to business investments in: used on-road battery electric, plug-in hybrid (with a battery capacity of at least 7 kWh) or hydrogen fuel cell vehicles; and, new and used fully electric or hydrogen powered rail, aerial, marine or off-road zero-emission automotive equipment and vehicles. The full tax write-off will apply to eligible vehicles purchased on or after March 2, 2020 and will be gradually phased out beginning January 1, 2023 and ending December 31, 2027.|
|Funding provided for the Department of Finance and Environment and Climate Change Canada to create a private-public Sustainable Finance Action Council aimed at developing a well-functioning sustainable finance market in Canada.|
|Limiting the spread and impact of the mountain pine beetle||0||25||23||23||1||1|
|Less: Funds Previously Provisioned in the Fiscal Framework||0||-1||-1||-1||-1||-1|
|Funding for Natural Resources Canada to support the province of Alberta in combatting the effects and eastward spread of the Mountain Pine Beetle and for the Parks Canada Agency to undertake wildland fire risk mitigation activities in those Rocky Mountain national parks impacted by the pest.|
|Labour Markets, Health, Safety and Economic Prosperity of Canadians||1,046||2,047||2,205||1,914||1,244||1,266|
|Enhancements to the Canadian Food Inspection Agency||0||12||29||39||39||39|
|Funding for the Canadian Food Inspection Agency to enhance the level of service provided to Canadian businesses, and to reinforce the safety of Canada’s food safety system.|
|Continuation of the Canadian Food Safety Information Network||0||2||2||2||2||2|
|Funding for the Canadian Food Inspection Agency to facilitate the operation of the Canadian Food Safety Information Network to help federal, provincial and territorial governments better predict and prepare for food safety issues.|
|Northern Adult Basic Education Program||0||5||5||0||0||0|
|Funding for the Canadian Northern Economic Development Agency to support the Northern Adult Basic Education Program in providing residents of the three territories with basic workplace skills training.|
|Participant Funding for the Engagement Process on Indigenous Economic Participation in the Trans Mountain Expansion Project||0||11||0||0||0||0|
|Less: Year-Over-Year Reallocation of Funding||-4||0||0||0||0||0|
|Funding for the Department of Finance to support the participation of Indigenous groups in the engagement process on Indigenous economic participation in the Trans Mountain Expansion Project.|
|2020-2022 Immigration Levels Plan||0||51||62||85||88||94|
|Funding to Immigration, Refugees and Citizenship Canada and the Canada Border Services Agency to support annual increases in permanent resident admissions to Canada, including through regional pilot projects, and to enhance settlement and resettlement services for newcomers.|
|Assisted Living and Long-Term Care||0||39||0||0||0||0|
|Funding to Indigenous Services Canada to continue to support First Nations individuals with chronic illness and disabilities to maintain their independence and remain in their homes, close to family and community, through the Assisted Living program.|
|New Fiscal Relationship: Governance Capacity and Fiscal Reforms||0||47||48||0||0||0|
|Funding to Indigenous Services Canada to strengthen the governance capacity of First Nations under the Indian Act and to continue the next phase of work in relation to advancing a new fiscal relationship, including co-development activities, governance capacity building, and reimbursement for costs associated with being in default management.|
|Developing a National Action Plan to address violence against Indigenous women and girls||6||41||23||8||7||7|
|Funding to Crown-Indigenous Relations and Northern Affairs Canada, Indigenous Services Canada and Public Safety Canada to co-develop a National Action Plan, continue critical programs and services for survivors, families and communities, and support early action to combat violence against Indigenous women, girls and LGBTQ2 people.|
|Non-Insured Health Benefits||0||256||0||0||0||0|
|Funding to Indigenous Services Canada to continue to provide a range of medically necessary services not otherwise covered by other plans, such as medication, dental and vision care, medical supplies and equipment, mental health counselling and medical transportation through the Non-Insured Health Benefits program.|
|Implementing Indigenous Child Welfare Legislation||0||76||101||122||122||122|
|Funding to Indigenous Services Canada to support the implementation of An Act respecting First Nations, Inuit and Métis children, youth and families.|
|Recognition of Indigenous Rights Negotiation Funding||0||30||30||0||0||0|
|Funding to Crown-Indigenous Relations and Northern Affairs Canada to renew Recognition of Indigenous Rights and Self-Determination negotiation resource funding, including resources to support both Indigenous groups’ and departmental participation in discussions.|
|Supporting Immigration and Refugee Legal Aid||0||27||0||0||0||0|
|Funding to Justice Canada to support the need for immigration and refugee legal aid services, which are delivered in partnership with provinces.|
|Renewing the Biology Casework Analysis Contribution Program||0||7||7||7||7||7|
|Funding to Public Safety Canada for the renewal of the Biology Casework Analysis Contribution Program to support Quebec’s and Ontario’s forensic laboratories in conducting DNA analysis and uploading crime scene profiles to the National DNA Data Bank.|
|Support for Policing in the Nation’s Capital||0||3||3||3||3||3|
|Funding to Public Safety Canada to renew the Nation’s Capital Extraordinary Policing Costs Program, which reimburses Ottawa for policing costs specific to the national capital, over and above the regular policing services required of a similar-sized city.|
|Supporting Timely and Effective Decisions at the Parole Board of Canada||0||4||4||0||0||0|
|Funding to the Parole Board of Canada to support timely and effective conditional release decisions in light of growing workload requirements.|
|Supporting the Integrity of Canada’s Correctional System||0||149||170||185||185||185|
|Funding to the Correctional Service of Canada to stabilize core operations of its mandate, and support a safe and healthy work environment for correctional personnel and inmates.|
|Supporting Essential Goods and Services within Federal Correctional Institutions||0||9||9||9||9||9|
|Funding adjustments for the Correctional Service of Canada to reflect non-discretionary cost increases for goods and services it uses, including electricity, water, food, prescription drugs, and contracted medical services for inmates.|
|Supporting Fair Labour Relations and Accountability within the RCMP||0||3||6||6||6||6|
|Funding is to provide the RCMP External Review Committee with increased resources to help deliver on its mandate in a timely and effective manner, improve accountability within the RCMP, and contribute to the integrity of the RCMP’s recourse system.|
|Supporting and Enhancing the Royal Canadian Mounted Police||0||38||66||90||89||181|
|Funding to the Royal Canadian Mounted Police (RCMP) to ensure it can respond to new challenges and growing demands. Funding will also support the creation of the RCMP Independent Centre for the Resolution of Harassment to help strengthen accountability, and improve the harassment resolution process.|
|Supporting Canada’s Border Operations||0||0||115||115||115||115|
|Funding to the Canada Border Services Agency to support effective border management and enforcement.|
|Strengthening Canada’s Anti-Racism Strategy and Multiculturalism Programming||0||2||0||0||0||0|
|Funding for Canadian Heritage to continue to develop and deliver programs that support the cultural and racial diversity of Canadian society as well as support projects that seek to combat racism and religious discrimination, such as Canada’s Anti-Racism Strategy.|
|Promoting Canada's Official Languages||0||1||3||1||0||0|
|Funding to Canadian Heritage to address the current gaps in data on official language minority communities by supporting Statistics Canada in conducting a survey of these communities following the 2021 Census. The results of this survey will help to identify the needs of these communities; assess the impact of existing government measures; and implement effective programs supporting their vitality in the future.|
|Preventing Drug Shortages||1||2||3||3||2||2|
|Less: Funds Sourced From Existing Departmental Resources||-1||-1||-1||-1||0||0|
|Funding for Health Canada to help manage and monitor drug shortages and ensure that Canadians have access to the medicines that they need. Health Canada is also allocating existing funding to support these efforts.|
|Continuing to Support Workers in Seasonal Industries||0||13||94||39||0||0|
|Less: Projected Revenues||0||-6||-19||-19||-20||-21|
|Funding for Employment and Social Development Canada to extend the Employment Insurance (EI) pilot project, providing up to 5 additional weeks of EI regular benefits to eligible seasonal workers in 13 targeted regions until October 30, 2021. Costs will be charged to the EI Operating Account and offset by higher EI premium revenues over time.|
|Enhancing Information Technology Systems to Support Immigration Programming||0||13||29||25||3||3|
|Funding for Immigration, Refugees and Citizenship Canada to stabilize and standardize their current information technology system, and build the foundation for a new digital platform. This will support a world-class immigration system through enhanced client service, operational efficiency and program integrity.|
|Enhancing Canada's Asylum System||0||0||325||325||111||19|
|Funding for Immigration, Refugees and Citizenship Canada, the Immigration and Refugee Board, the Canada Boarder Services Agency, the Canadian Security Intelligence Service and the Courts Administration Service to support continued processing of 50,000 asylum claims per year until the end of March 2023, and facilitate the removal of failed asylum claimants in a timely manner.|
|Providing Health Care to Refugees and Asylum Seekers||0||94||328||411||0||0|
|Funding for Immigration, Refugees and Citizenship Canada to provide increased funding for the Interim Federal Health Program. This will provide limited, temporary coverage of healthcare benefits to refugees and asylum seekers who are not yet eligible for provincial or territorial health insurance coverage.|
|Reducing the Veteran Disability Benefit Backlog||0||96||96||0||0||0|
|Funding for Veterans Affairs Canada to extend case management and disability adjudication resources provided in Budget 2018 to keep pace with incoming applications, innovate adjudication processes, and hire new teams dedicated to reducing the backlog.|
|Non-Discretionary Cost Increases for Royal Canadian Mounted Police Contract Policing||22||0||0||0||0||0|
|Funding adjustments for the Royal Canadian Mounted Police to reflect non-discretionary cost increases for contract policing.|
|Continued support for the Canada Summer Jobs Program||0||155||0||0||0||0|
|Funding for Employment and Social Development Canada to deliver 70,000 job placements for youth ages 15-30 in summer 2020-21.|
|Maintaining Services for Indigenous Peoples||1,022||767||487||505||523||541|
|Funding for Indigenous Services Canada to maintain core services and respond to increasing demand in areas such as the First Nations Child and Family Services Program, Jordan’s Principle, and the Emergency Management Assistance Program.|
|Improving Employment Insurance Service Delivery||0||116||223||0||0||0|
|Less: Projected Revenues||0||-15||-44||-45||-46||-48|
|Funding for Employment and Social Development Canada to stabilize Employment Insurance (EI) service delivery to ensure timely and accurate EI benefit payments to Canadians, and support the EI call centre network. Costs will be charged to the EI Operating Account and offset by higher EI premium revenues over time.|
|Trade, International Relations and Security||18||140||57||57||75||68|
|Supporting Mexico’s Labour Reform and Implementation of the Canada-United States-Mexico Agreement||0||7||7||7||7||0|
|Funding to Employment and Social Development Canada in support of providing technical expertise to Mexico for the implementation of the Labour Chapter of the Canada-United States-Mexico Agreement.|
|Support for Canadians in relation to downed Ukraine International Airlines flight PS752 and early repatriation efforts related to COVID-19||0||9||0||0||0||0|
|Funding for Global Affairs Canada for costs incurred to provide financial support to families of the Canadian victims of downed Ukraine International Airlines flight PS752, and to evacuate Canadians from China and Japan in February 2020, due to the COVID-19 pandemic.|
|Implementation of Canada-Colombia FTA Rules of Origin Amendments||0||1||1||1||1||1|
|Implements amendments to the rules of origin provisions of the Canada-Colombia Free Trade Agreement. These amendments extend duty-free treatment, on a reciprocal basis, to certain textile products and apparel, and will result in lower customs duties to be paid by Canadian importers of these goods.|
|Canadian Contribution to the International Development Association||0||477||423||425||0||0|
|Less: Funds Previously Provisioned in the International Assistance Envelope||0||-442||-442||-442||0||0|
|Funding to the Department of Finance to provide Canada’s contribution, in the form of a grant and a 25-year concessional loan, to the nineteenth replenishment of the International Development Assistance, the concessional window of the World Bank Group that provides loans and grants to the world’s 76 poorest countries.|
|Canadian Contribution to the African Development Fund||0||118||118||118||10||10|
|Less: Funds Previously Provisioned in the International Assistance Envelope||0||-109||-109||-109||0||0|
|Funding to Global Affairs Canada to provide Canada’s contribution to the fifteenth replenishment of the African Development Fund (ADF), the funding window of the African Development Bank that provides financial support, either in the form of grants or loans at highly concessional terms, to Africa’s 38 poorest countries.|
|Global Affairs Canada Quasi-Statutory Adjustments||18||36||15||15||15||15|
|Funding for Global Affairs Canada for non-discretionary cost increases affecting Canada’s missions abroad, such as changes in exchange rates and inflation. This will allow the government to maintain its high standards for the delivery of its global operations.|
|Canadian Purchase of African Development Bank Shares||0||42||42||42||42||42|
|Funding to Global Affairs Canada to purchase Canada’s African Development Bank (AfDB) shares as part of the bank’s seventh general capital increase. This capital increase will provide the Bank with the capital and human resources necessary to better respond to the needs of its borrowing members as their economies grow.|
|Tax and Financial Sector Policy||0||27||29||27||27||26|
|Less: Funds Previously Provisioned in the Fiscal Framework||0||-1||0||0||0||0|
|Funding provided for the Department of Finance to maintain integrity of its housing finance operations to support housing market analysis, policy and contingency planning.|
|Fighting Financial Crime||0||8||12||9||8||11|
|Funding provided to FINTRAC, Canada’s financial intelligence unit and anti-money laundering and anti-terrorist financing regulator, for measures to support its mandate assisting in the detection, prevention and deterrence of money laundering and the financing of terrorist activities, and to improve risk targeting.|
|Developing Options for a Secure Financial Data Framework: Responding to Initial Findings from the Review into the Merits of Open Banking||0||2||1||1||1||1|
|Funding provided to the Department of Finance to advance the second phase of work of the government’s Review into the Merits of Open Banking. The Minister of Finance’s Advisory Committee on Open Banking will work with stakeholders to provide the government options for enhancing data protection for consumer-driven data sharing in the financial sector.|
|Enhancing International Anti-Money Laundering Contributions||0||0||0||1||1||0|
|Funding, provided to the Department of Finance, to better support international and regional organizations working to advance measures to combat serious crimes.|
|Less: Funds Sourced From Existing Departmental Resources||0||-7||-73||-42||-8||-3|
|Funding provided for FINTRAC to support the relocation of its National Capital Region headquarters in Ottawa. Funding will be offset in part by existing departmental resources from FINTRAC and Public Services and Procurement Canada.|
|Supporting Money Laundering and Terrorist Financing Investigations||0||2||3||3||4||4|
|Funding provided to Public Services and Procurement Canada to establish a team of dedicated forensic accountants to support federal, provincial and municipal law enforcement in money laundering and terrorist financing investigations.|
|Modernizing the Cross-Border Currency Reporting Framework||0||2||1||1||1||1|
|Funding provided to the Canada Border Services Agency and FINTRAC to modernize the cross-border currency and monetary instruments reporting framework to improve the collection of information used for intelligence and analytical purposes.|
|Federal Engagement in Cullen Commission of Inquiry into Money Laundering in British Columbia||0||2||0||0||0||0|
|Funding provided for the Department of Justice to support the Government of Canada’s full, effective and timely participation in the Cullen Commission of Inquiry into Money Laundering in British Columbia.|
|(Net) Fiscal Impact of Non-Announced Measures||269||4,356||-283||-462||330||255|
|The net fiscal impact of measures that are not announced is presented at the aggregate level, and would include provisions for anticipated Cabinet decisions not yet made and funding decisions related to national security, commercial sensitivity, contract negotiations and litigation issues.|
|Net Fiscal Impact – Total Policy Actions Taken Since 2019 Economic and Fiscal Update||1,332||9,006||3,272||2,845||2,497||2,466|
|Note: Totals may not add due to rounding.|
 In the 1960’s, the Government of Canada transferred personal income tax points to Quebec in lieu of federal cash support. Since federal cash transfers continue to be provided through the Canada Health Transfer and the Canada Social Transfer, the annual value of the tax point transfer is then recovered by the Government of Canada from Quebec.
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