The Denboers – Finance News

Main Menu

  • Home
  • Collectivist society
  • Dividend Payout Ratio
  • Currency speculation
  • OECD
  • Bankroll

The Denboers – Finance News

Header Banner

The Denboers – Finance News

  • Home
  • Collectivist society
  • Dividend Payout Ratio
  • Currency speculation
  • OECD
  • Bankroll
Currency speculation
Home›Currency speculation›Budget 2022: 9 things you missed

Budget 2022: 9 things you missed

By Christopher Scheffler
April 11, 2022
5
0

The 2022 federal budget was presented in Ottawa on April 7, unveiling billions in spending, with the Liberals focusing on investing new funds in housing, national defence, climate change and dental care.

But, the nearly 300-page document included a host of other smaller expenses.

From making surrogacy costs eligible for a tax credit to studying the future of cryptocurrencies in Canada, CTVNews.ca analyzed the entire plan of federal spending to extract nine notable new initiatives unveiled in the budget.

SUBSTITUTE SUPPORT

Following through on a commitment made in the 2021 federal election, the Liberals announced in Budget 2022 that they will dedicate $79 million over the next five years to help Canadians who want to become parents.

For same-sex couples, those facing fertility issues, or those wishing to become single parents, the federal government will take the following steps:

  • Allow “medical expenses related to a surrogate mother or a sperm, egg or embryo donor incurred in Canada”, including reimbursed expenses for in vitro fertilization, to be claimed under the medical expense tax credit, starting this year; and

  • Allow fees paid to fertility clinics and donor banks in Canada to also qualify for the medical expense tax credit program, starting this year.

The government says this decision is being made because “Canadians rely on surrogacy and expensive procedures to build the family they dream of,” although, as noted by the Child & Youth Permanency Council of Canada, the budget stops unless it helps families formed by adoption. During their election campaign, the Liberals said they would give adoptive parents an additional 15 weeks of leave to level the playing field with other parents.

STOP HARASSMENT IN SPORT

Likely following a series of recent headlines about harassment and abuse in Canadian sports agencies, including bobsledding and synchronized swimming, the federal government is investing $16 million in support actions designed to create a system safer athlete.

To be spent over the next three years, the Sport Dispute Resolution Center of Canada will use the funding to implement a new “independent mechanism for safe sport,” and it will be used to pay for a review of national sport policies.

“Canada’s top athletes should feel safe in an environment free from abuse, harassment and discrimination. However, many Canadian athletes have provided evidence of unsafe environments in competitive sports,” the budget reads.

STUDYING THE LONG-TERM EFFECTS OF COVID

While overall new spending related to the ongoing COVID-19 pandemic was well below the last budget, the new budget plan provides $20 million to study the long-term effects of COVID-19 infections.

To be spent over five years, the Canadian Institutes of Health Research will use the money to dig into “the long-term effects of COVID-19 infections on Canadians, as well as the broader impacts of COVID-19 on health and health care systems”. It remains to be seen what policy changes or other measures might result from the results.

DIG INTO DIGITAL CURRENCY

Cryptocurrency is becoming an increasingly hot topic in federal politics, after the Freedom Convoy’s fundraising efforts included the use of digital currencies like Bitcoin.

Recognizing the growing interest in the potential future of cryptocurrency, the federal government announced in the budget that it would launch a “Financial Sector Legislative Review,” which will delve into the stability and security of the digitalization of the cryptocurrency. ‘money.

“The first phase of the review will focus on digital currencies, including cryptocurrencies and stablecoins,” according to the budget.

To do this work, Finance Canada is receiving $17.7 million for a five-year review process that will also examine how to adapt the regulatory framework for the financial sector and “the potential need for a central bank digital currency in Canada.”

STABILIZE THE SPUD INDUSTRY

After the potato wart fungus was detected in Prince Edward Island, sales were halted in the United States and the industry on the island is still struggling to get its products back on the shelves Americans.

To help revive the sector, the federal budget is:

  • Allocating $16 million to be spent over the next two years through the Atlantic Canada Opportunities Agency, to “support long-term investments and help stabilize the industry and supply chain of Prince Edward Island potato”; and

  • Set aside an additional $12 million to be spent over the next two years by the Canadian Food Inspection Agency, so it can “expedite the investigation into the latest potato wart detection to help to prevent its spread.

GET RID OF ‘GHOST GEAR’

In a section examining several ways to clean up Canadian waterways, the federal government pledges $10 million to Fisheries and Oceans Canada to renew the “Ghost Gear Fund” for another year.

This program aims to recover “ghost gear” – the term given to traps, nets, buoys and other fishing gear that gets lost or discarded during fishing and remains adrift in the ocean – as well as testing new fishing technologies. .

Ghost gear can destroy habitats and marine life, and can make up to 70% of macroplastics in the ocean, CTV News reported.

FIXING CANADIAN TRAILS

If you’re heading out on your local stretch of the Trans Canada Trail in the coming months and see construction going on, it may be because $55 million is being invested in “upgrading” the trail system.

Funding will be provided to Parks Canada over the next five years to repair and improve the 27,000 km Trans Canada Trail recreational network, which the government says is the longest in the world.

TARGET STEM, STUDENT RESEARCH FUNDS

The federal government invests millions in science, technology, engineering, and math (STEM) research and supports scholarships.

In particular, the budget promises:

  • $38.3 million over four years, starting next year, and $12.7 million thereafter for the federal granting councils. The money will be used to add 12 to 25 Canada Excellence Research Chairs in STEM recruited from abroad; and

  • $40.9 million over five years, starting this year, and $9.7 million ongoing for the federal granting councils to “support targeted scholarships and fellowships for promising black student researchers “.

HOMELESS VETERANS PROGRAM

The federal budget also includes an additional $62.2 million to create a new “Homeless Veterans Program.”

After setting aside $45 million in the 2021 federal budget for the pilot program, the government says it is preparing to make the support stream permanent. However, the new funding is not expected to flow until 2024-25.

The program aims to “provide services and rent supplements to homeless veterans in partnership with community agencies.”

Related posts:

  1. How widespread is the usage of Bitcoin in Japan?
  2. Watch out for rolling recommendation from crypto promoters
  3. Lebanon: Week of protests and unrest as forex drops to report excessive
  4. British pound trade fee tries to get well as DXY rally peaks

Categories

  • Bankroll
  • Collectivist society
  • Currency speculation
  • Dividend Payout Ratio
  • OECD
  • TERMS AND CONDITIONS
  • PRIVACY AND POLICY