On April 4th, The Government of Canada tabled Budget 2021 to show you how we plan on supporting Canadians through the pandemic and into the future. We’re spending money now to grow the economy, create well-paying jobs, and put Canada on the path to recovery.
We’re also putting a focus on supporting our Black communities and ensuring we pave a new way forward that benefits every Canadian. We know that the pandemic has disproportionately affected members of the Black community across Canada and we’re making sure that we provide the tools and programs necessary to overcome this gap. We can’t rebuild better without ensuring that Black-Canadians have the resources they need to overcome this pandemic successfully.
Our budget focuses on three key areas of growth and success:
- Fighting COVID-19
- Ensuring a speedy recovery
- Building a resilient Canada
Our priority right now is to procure vaccines for Canadians and ensure we support individuals and businesses in overcoming the challenges the pandemic brings.
To better support Canadians, we’re extending key pandemic supports:
- The Canada Emergency Wage Subsidy will be extended to September 2021
- The Canada Emergency Rent Subsidy will be extended to September 2021
- The Canada Response Benefit will be extended by 12 weeks to a total of 50 weeks for those who are underemployed
- The Canada Recovery Caregiving Benefit will also be extended to a total of 42 weeks
Ensuring A Speedy Recovery
We know that to attain full economic recovery, we need to invest in women, our racialized minorities, our small-businesses, and workers.
- To establish a $15 federal minimum wage
- $275 million over the next 5 years on mental health services to develop new national mental health standards and also set up mental health services for those who need it most such as racialized communities
- Providing a one-time $500 top-up in August to OAS recipients aged 75 and older
- We’re also giving a 10% increase in OAS payments as of July 2022
- $300 million to fund Black-led initiatives to fight racism and support Black-led non-profit organizations
- $300 million to enhance initiatives such as the Black Entrepreneurship Program and the Women Entrepreneurship Strategy
Building a Resilient Canada
To build a resilient Canada, we need to ensure we’re dedicated to reconciliation, protecting our environment, building affordable housing, fostering innovation, and creating a national childcare system.
- A historic commitment to bring down the average cost of childcare to $10 per day across Canada by 2026. We’re going to ensure that all families have access to affordable, high-quality, and flexible childcare no matter where they live.
- We’re spending $30 billion on childcare in 5 years and will spend $8.3 billion each year after that to accomplish this goal
- We’re aiming to cut the costs of childcare by 50% by 2022
To learn more about Budget 2021 and about all the other initiatives and programs we’re investing in, check out the budget website here: https://www.budget.gc.ca/2021/home-accueil-en.html