FALL ECONOMIC STATEMENT 2020

Dear Ottawa-Vanier residents,
On November 30, 2020, our Government introduced a plan to support Canadians as we fight this virus and ensure a strong recovery. 


Canada entered this crisis in a strong fiscal position, allowing our government to take decisive action to provide the support people and businesses need to weather this storm.
 Total support so far includes $322 billion in direct measures to fight the virus and help people; and $85 billion in tax and duty deferrals. This is the largest economic relief package for our country since the Second World War
Through the Fall Economic Statement our Government is continuing with our plan to fight COVID-19 and support Canadians. This includes:

 Protecting Canadians from COVID-19
Every Canadian can be confident they will have access to an effective vaccine, for free, once it’s ready.
We are fighting a challenging second wave of COVID-19. 
Our government  will continue to work closely with provinces, territories, municipalities, and Indigenous communities on a Team Canada pandemic response.
More than eight out of every ten dollars spent in Canada to fight COVID-19 and support Canadians has come from the federal government.
In addition, our government will work with provinces and territories to set new, national standards for long-term care and announced $1 billion for a Safe, Long-term Care Fund, and will help ensure that First Nations, Inuit and Métis communities can manage and control the virus during the second wave of the pandemic.

Supporting Canadians through the Pandemic
Since this crisis began, our government has supported public health, provided direct income supports to Canadians, and bridged businesses through the crisis. It will continue to do so until we defeat the virus.
Our government is putting in place further support for Canadian families and businesses as they fight the second wave of the virus. This includes providing immediate relief to low and middle-income families by providing up to $1,200 through the Canada Child Benefit for children under the
age of 6; creating a new stream of credit support for businesses in the tourism, hospitality, travel, and arts and culture sectors which have been particularly hard hit; reducing student debt by eliminating interest on the federal portion of Canada Student Loans and Canada Apprentice Loans for 2021-22.

Building a more resilient economy
To support families, the federal government is laying the groundwork for a Canada-wide childcare system in partnership with provinces, territories and Indigenous partners.
Our government is planning a program of meaningful, targeted stimulus – up to 3 to 4 per cent of GDP, over three years – to foster a strong economic recovery. The stimulus will make the economy greener, more inclusive, more resilient and more competitive.

Brighter days are ahead, and once the need to support the economy has passed, time-limited measures will be withdrawn.
For more information on the Fall Economic Statement, please visit this website.