Canada Announces MASSIVE Ambitious Budget With New Benefits + Investmets

[Economy 52,834]

https://www.bnnbloomberg.ca/ (individual articles detail different things so this is generalized link)

 

Canada went hard and went big in the new budget and implemented a course for many new investments. The biggest highlights:

 

- $10/day Child Care to help encourage parents particularly women back into workforce (will take a few years to fully implement)

- extended wage subsities and grants to help moat affected businesses during pandemic rebuild

- More funding for green innitiatiatives and infrastructure

- Unemployment Benefits (EI) Permanently enhanced to a minimum 420 hours worked to qualify for benefits and minimum 14 weeks of benefits (it can still go higher as you work more hours and as unemployment fluctuates)

- National $15/h Minimum Wage (most Provinces currently have it somewhere between $12.50/h to $14/h)

[Economy 52,834]

These are great investments. I like most of the budget

 

I do question the "National Minimum Wage" being set that high tho. Cost of living and economy varies a lot by Province...

 

Not sure minimum wage in New Foundland where houses cost $200,000 and rents less than $1000/month should have the same minimum wage as in Toronto where its nearly triple for rent and over quintuple for home buying...

 

If cheapest parts of Canada get $15/h minimum wage we should friggen get $25/h frig

[Economy 52,834]

@GagaSine @OBEY @JustinTrudeau @LaLa

 

They throwing money at us 

 

[GagaSine 7,464]

Interesting! We'll see how this plays out. 

[Eido 3,681]

Well the national minimum wage was inevitable 

I started checking appartements in Montreal because I am finally going back there 

And gurl, wth  it became so expensive 

[LaLa 19,898]

I haven’t read it yet, but these highlights look pretty good so far.

Probably not enough green initiative for me, but I’m a hippy 

[Economy 52,834]

5 minutes ago, Eido said:

Well the national minimum wage was inevitable 

I started checking appartements in Montreal because I am finally going back there 

And gurl, wth  it became so expensive 

Montreal from my perspective is cheap

 

But legit tho... cost of living varies so much by region that im always a little skeptical of trying to make it the same Nationally... 

[Economy 52,834]

16 minutes ago, GagaSine said:

Interesting! We'll see how this plays out. 

My fav is the child care because thats one of those investments that more than pay for themselves while helping ppl at the same time because its like killing 3 birds with 1 stone...

 

1. U help parents and families who work with financial costs

2. Those that dont work cuz child care is too expensive can go back to work and increase economies productivity

3. Those that return to workforce pay taxes before they werent paying so at least some of they money put into it is collected back anyway

 

It has a very good riple effect

 

Overall the buget spending increases appear to be on real investments not just benefits that are nice to have but dont do anything for productivity and can become problematic long term if they arent financially sustainable and are just financed thru debt and deficits

 

The budget looks good to me overall. I just hope they dont start to go overboard in the future tho. Justin Trudeau has a track record (even before pandemic) of each year increasing spending and deficit by more than what he said hed stick to in previous years. We still need to stay within our means. We dont need a repeat of the 1990s because of forgeting money doesnt grow on trees. Thats my only concern 

[chromatic puzea 10,653]

i agree with what you said on the minimum wage

maybe i should move to pei and take advantage of it hehe

[Economy 52,834]

3 minutes ago, chromatic puzea said:

i agree with what you said on the minimum wage

maybe i should move to pei and take advantage of it hehe

U have to ACTUALLY find a job first to be able to take advantage tho. Those small Altlantic Provinces in the East have a chronic problem with high unemployment

[GoldenPonyboy 2,434]

12 minutes ago, Economy said:

U have to ACTUALLY find a job first to be able to take advantage tho. Those small Altlantic Provinces in the East have a chronic problem with high unemployment

I am from New Brunswick, the high unemployement is mostly because of seasonnal work. People make 20-30$ an hr during the summer and go on unemplyement for the winter because they dont want to work minimum wage. Also you have to think that we dont have a publi transport system, so even to work min wage you either need a car or be able to walk to work. So factor in costs for a vehicle and insurance and gas the diffrence is not too big. In my city right now there is a huge labour shortage, you can probably get a job easy in mosts fields. 

[Economy 52,834]

3 minutes ago, GoldenPonyboy said:

I am from New Brunswick, the high unemployement is mostly because of seasonnal work. People make 20-30$ an hr during the summer and go on unemplyement for the winter because they dont want to work minimum wage. Also you have to think that we dont have a publi transport system, so even to work min wage you either need a car or be able to walk to work. So factor in costs for a vehicle and insurance and gas the diffrence is not too big. In my city right now there is a huge labour shortage, you can probably get a job easy in mosts fields. 

Yeah thats the issue with generous EI... ppl just go on it even if its not the only alternative

 

I have a guy at work (my personal trainer who i referenced actually) who wants to upgrade a fitness wellness course in september and rather than get a partime job hes trying to get fired before september to just collect EI

[GoldenPonyboy 2,434]

14 hours ago, Economy said:

Yeah thats the issue with generous EI... ppl just go on it even if its not the only alternative

 

I have a guy at work (my personal trainer who i referenced actually) who wants to upgrade a fitness wellness course in september and rather than get a partime job hes trying to get fired before september to just collect EI

Most of people i know work under the table and get EI. A lit of people make between 80-120 grand a year doing that. And a lot of it is tax free since its under the table its so frustrating. They are the same people that claimed covid benefits this year

[RAMROD 116,991]

Can thwy just Vaccinate their people first before talking this stuffs?

[Economy 52,834]

8 hours ago, RAMROD said:

Can thwy just Vaccinate their people first before talking this stuffs?

I mean the budget cant go on hold because of vaccinations