Federal Government Releases 2020 Fall Economic Statement

Last week, the Honourable Chrystia Freeland, Deputy Minister and Minister of Finance, released a Fall 2020 Economic Statement titled Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020.

The document is focused on protecting Canadian’s health, jobs and the economy. Highlights of the document include:

• The elimination of the interest on repayment of the federal portion of the Canada Student Loans and Canada Apprentice Loans for 2021-2022.
• $150 million over three years, starting in 2020-2021, to Infrastructure Canada to improve ventilation in public buildings and reduce the spread of COVID-19.
• $15 million in 2021-2022 in the Foreign Credential Recognition Program, and up to 15,000 skilled newcomers are expected to benefit from this investment.

For a full summary of the 2020 Federal Fall Economic Statement, see the Ontario Construction Secretariat’s FES Bulletin or read the Government of Canada’s Build Back Better Plan.