Governments could increase access to child care and reduce its cost to help the labour market rebound, and reduce the risk of long-term economic scarring for women who have disproportionately felt the brunt of pandemic job losses, the governor of the Bank of Canada says.
Social Development Minister Ahmed Hussen, in charge of bringing the national child-care system to life, has said it’ll need an influx of federal funds to make daycare fees more affordable and expand the number of spaces.
The federal Liberals will take small step toward a plan to create a national daycare system, with sources telling the Canadian Press next week's economic update will have money for a new federal child-care body.
The Bank of Canada kept its key interest rate on hold on Wednesday, October 28, 2020, as it said the country's economy won't fully recover what was lost to COVID-19 until 2022, with the road to there dependent on the path of the pandemic.
The double blow of collapsing oil prices and the COVID-19 crisis has pushed Alberta into a historic deficit of $24.2 billion — more than triple what the United Conservative government projected in its February budget.
The federal minister in charge of the government's child-care agenda says the Liberals won't abandon the sector once urgent, pandemic-related funding runs out before the end of the economic fallout from COVID-19.
The federal, provincial and territorial governments have reached a deal on billions of dollars in transfers to continue reopening economies amid the COVID-19 pandemic, Prime Minister Justin Trudeau said on Thursday, July 16, 2020.