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Economic and Fiscal Update 2021 released by the government of Canada

Updated: Jan 13, 2022

On December 14, 2021, the government of Canada released the Economic and Fiscal Update 2021, updating the government’s plan to finish the fight against COVID-19.

According to the statement, the government is planning to invest

“$85 million to reduce backlogs in Canada’s immigration system, speed up the process of citizenship, reunite families, and welcome people who can help address Canada’s labour shortages.”

The statement also mentioned the importance of immigrants, temporary foreign workers as well as international students in the Canadian economy.

The federal government has proposed several measures in order to protect Canada's economic resilience in case of a resurgence of the virus. These include the Canada Worker Lockdown Benefit and the Local Lockdown Program, which would provide needed support to local economies should restrictions be needed.

In addition, the government has drafted a plan to help prevent outbreaks in offices and schools by improving ventilation and air quality. It also introduces 10 days of paid sick leave for workers in federally regulated workplaces.

To foster sustainable economic recovery, the government continues to support Canadians and Canadian businesses in sectors particularly hard hit by the pandemic. Workers in the live performance sector will benefit from a new $60-million fund.

Also, targeted support programs will continue to provide wage and rent subsidies to tourism and hospitality businesses and organizations that are facing deep and enduring losses. However, the government is working to reduce immigration processing backlogs to help businesses grow and address labour shortages.


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