| Department of Finance Canada | backgrounders
In keeping with her authority under the Budget Implementation Act, 2019, No. 1, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, is specifying a one-year extension for the Minister of Natural Resources to disburse the 2019-20 proceeds from the federal price on carbon pollution.
| Department of Finance Canada | backgrounders
On May 20, 2021, the Deputy Prime Minister and Minister of Finance announced the extension of proposed amendments to the Income Tax Regulations initially released on July 2, 2020 that apply to Registered Pension Plans (RPPs) and deferred salary leave plans (DSLPs).
| Department of Finance Canada | backgrounders
The pandemic has made access to early learning and child care a universal issue that is resonating across sectors, regions, and income brackets. School and child care centre closures have been difficult for parents. Some have had to leave their jobs, or reduce their hours significantly. Without access to child care, parents cannot fully participate in our economy.
| Department of Finance Canada | backgrounders
Budget 2021 is about finishing the fight against COVID. It’s about healing the economic wounds left by the COVID recession.
| Department of Finance Canada | backgrounders
In the face of the COVID-19 pandemic, the government acted swiftly to provide support to protect Canadians and support people and businesses, adapting its response as the pandemic evolved. The government’s broad suite of support measures has helped families, protected jobs, and supported businesses across Canada. More than eight of every ten dollars spent to fight COVID-19 and support Canadians continues to come from the federal government.
| Department of Finance Canada | backgrounders
Young people were among the hardest and fastest hit when the pandemic struck, experiencing more job losses than any other age demographic. They have also experienced the worst decline in mental health of any age group. Young Canadians must be at the centre of Canada’s recovery not only to help them rebound today, but to invest in their future success and the future success of our economy
| Department of Finance Canada | backgrounders
The impact of COVID-19 on workers and businesses in tourism, arts, and culture has been severe. With the rollout of vaccines underway, businesses in the tourism, arts, and culture sectors are getting ready to welcome Canadians back to experience the great places and activities this country has to offer—when it is safe to do so. Canadians are also eager to return to the local festivals and places they know and love.
| Department of Finance Canada | backgrounders
A long-term plan for a faster-growing Canadian economy must include housing that is affordable for working Canadians, especially young families. Stable housing is critical for communities and for a strong middle class.
| Department of Finance Canada | backgrounders
COVID-19 has affected all Canadians, but women have been disproportionately affected. In the labour market, women were hit earlier and harder, and their jobs continue to recover more slowly. Long-standing gender inequities have only been amplified over the course of the pandemic—and it has put decades of hard-fought gains for women in the workplace at risk.
| Department of Finance Canada | backgrounders
The worst economic impacts of the pandemic have been suffered by those who could least afford it. Low-wage workers have been up to six times more likely to suffer layoffs than wealthy Canadians.
