Canada to spend big to 'punch way out of Covid recession'

13 Sept 12:50 Key points summarised by AI

Canada's finance minister unveiled a Can$101.4 billion (US$80.9 billion) spending plan to aggressively combat the Covid-19 recession, aiming to recover lost jobs and stimulate economic growth.
The comprehensive budget extends emergency wage and rent subsidies, establishes a new national childcare program, and allocates Can$17.6 billion for a green economy transition, including a new 2030 emissions reduction target.
Additional funds are earmarked to support sectors like tourism, indigenous peoples, and Black entrepreneurs, alongside bolstering domestic vaccine production and affordable housing initiatives.
Despite a projected increase in national debt, the government justifies these significant investments in a low-interest rate environment, forecasting strong economic growth and the creation of one million new jobs.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.