Finance Minister Chrystia Freeland will deliver the Liberal government’s first budget in two years on Monday, at 4:00PM EST.
Canada’s travel industry is watching closely to see if and how the government intends to support travel and its eventual recovery as the country confronts the third wave of the pandemic.
Open Jaw reached out to ACTA’s Wendy Paradis for a recap of the association’s specific wish list. ‘We’re hoping that there is overt recognition of the “hardest hit sectors”(tourism, travel, hospitality and the arts) and that we are specifically mentioned in the budget and budget speech.”
Paradis cautions not to expect a lot of specifics in the speech. “Like the throne speech back in the fall, I expect the budget speech will be very high level, and lack concrete details.”
Leaks suggest the government will continue financial support for those hardest-hit, including small businesses. That is said to include extending wage and rent subsidies currently in place through the fall.
According to the CBC, the budget will include $12 billion for the Canada Emergency Wage Subsidy (CEWS) as well as the Canada Emergency Rent Subsidy. Both programs have been a mainstay in keeping both travel retailers and suppliers afloat.
Observers are also watching for budget funds earmarked for additional support of Canada’s airlines and air travel infrastructure, as well as recovery of the travel industry once restrictions are lifted.
Open Jaw will be closely monitoring the budget speech and will provide updates as they become available.