Throne speech promises wage subsidy extension

The minority federal government has promised to extend the Canada Emergency Wage Subsidy until next summer, and create one million jobs while continuing the fight against the pandemic, climate change and social inequality.

“Businesses need certainty that they will be supported as we all adjust to new ways of doing things or are able to return to currently restricted activities,” Chamber CEO Bruce Williams says. “Today’s Speech from the Throne says a lot of the right things but until we learn more details it’s too soon to be anything but cautiously optimistic.”

The speech included proposals to reform employment insurance and measures to retrain workers who were displaced by the pandemic. There was also a promise for federal funding for child care aimed at helping more women participate in the workforce. However, we share concerns about a lack of attention to economic fundamentals or rising debt levels. If the vote on the Throne Speech gets the required support from other parties to pass, we’ll want more details about plans to help the tourism and hospitality sectors.