adplus-dvertising
Connect with us

News

Canada won't receive any Pfizer shots next week — here's what you need to know about the vaccination campaign – CBC.ca

Published

 on


Canada’s vaccination campaign is off to a slow start — and news this week that deliveries of the Pfizer product will be reduced dramatically over the next month has further complicated the national rollout.

Maj.-Gen. Dany Fortin, the military commander leading vaccine logistics at the Public Health Agency of Canada, has said Pfizer will not ship a single vial of its highly effective vaccine to Canada next week as the pharmaceutical giant retools its production facility in Puurs, Belgium to boost its capacity.

The announcement is already prompting some provinces to warn that they will have to curtail appointments in the weeks ahead as they direct the existing supply of the two-dose Pfizer product to patients who need their second shots.

300x250x1

Why is Canada getting less vaccine than anticipated?

Pfizer is grappling with unprecedented global demand for its vaccine as the world scrambles to inoculate patients against the deadly novel coronavirus.

While the company had projected it could manufacture up to 1.3 billion shots this year alone, it is now shifting gears to pump out even more.

The company is making upgrades to its Belgian plant so that it can manufacture up to 2 billion doses this year to meet the insatiable demand. In order to complete those upgrades, some production lines will have to be idled and Pfizer won’t have enough vials to go around in the short term to meet its previously promised delivery schedule.

“Pfizer and BioNTech are working relentlessly to support the further rollout of the vaccination campaigns worldwide by not only expanding their own manufacturing capacities but also by adding further suppliers as well as contract manufacturers to increase total manufacturing capacity,” the company said in a news release announcing the disruptions.

A driver pulls his truck out of the Pfizer plant in Puurs, Belgium on Monday, Dec. 21, 2020. (Valentin Bianchi/AP Photo)

Fortin has said that, starting next week, Canada’s deliveries will be reduced by up to 50 per cent over a four-week period, punting as many as 400,000 doses to a later date.

While the company has another manufacturing facility in Kalamazoo, Mich., the Belgian plant alone is supplying Canada, the European Union and the United Kingdom. U.S. deliveries will continue uninterrupted.

Will Canada, the EU and the United Kingdom be equally affected by these disruptions?

No. Announcing the delays last week, Public Services and Procurement Minister Anita Anand said she expects Pfizer will treat all countries equally as it reduces shipments with an eye to restoring service in February.

But Pfizer isn’t treating every customer the same way. While Canada will receive zero doses next week, the company said it “will be back to the original schedule of deliveries to the European Union beginning the week of January 25.”

Pfizer has promised the EU that it will then “increase delivery beginning week of February 15, resulting in our ability to deliver the fully committed quantity of vaccine doses in the first quarter and significantly more in the second quarter.”

Public Services and Procurement Minister Anita Anand and Maj.-Gen. Dany Fortin look on as Prime Minister Justin Trudeau responds to a question during a news conference in Ottawa on Dec. 7, 2020. (Adrian Wyld/Canadian Press)

When asked why Pfizer will not make the same commitment to Canada, Anand said that she expects the company to treat all countries equitably — but could not say why Canada has been singled out.

“This was very disappointing and I spent the weekend on the phone with Pfizer executives and my team. We reiterated firmly the importance for Canada to return to our regular delivery schedule as soon as possible,” she said at a press conference Tuesday.

Pfizer did not respond to specific questions about why it is showing more favourable treatment to the EU. In an emailed statement, the company said the details of its agreements with governments are “confidential.”

“Multiple countries around the world will be impacted in the short term in order for us to quickly enable increased production volumes afterwards,” the spokesperson said. 

The U.K. delivery schedule is less clear. The government there has said it is “in close contact” with all suppliers so that it can achieve its target of immunizing all those over age 70 by February 15.

So how many doses will Canada receive over the next number of weeks?

It’s hard to say for sure. Fortin had said Canada would see a 75 per cent drop next week in deliveries — but then had to correct that forecast after learning Canada wouldn’t receive a single dose.

Just last week, Fortin had been expecting delivery of 208,650 doses to the provinces every week for the rest of this month. Fortin also said Canada is expected to receive 366,000 Pfizer doses per week in February.

Speaking to the press this week, Fortin conceded those numbers are no longer accurate.

“Those numbers remain to be confirmed by Pfizer Canada. In fact, we have regular conversations with them and we hope and we expect to have clarity on those numbers,” Fortin told reporters at a public health briefing.

Is Canada still on track to get 4 million doses of the Pfizer product by the end of March?

The government has said yes. While the deliveries may change, the government insists its medium-term targets are more certain.

By the end of the first quarter, Canada is expecting four million doses from Pfizer and another two million doses from Moderna — enough to vaccinate some 3 million Canadians with these two-dose products.

WATCH: Canada affected by Pfizer vaccine production delay in Europe

Federal Procurement Minister Anita Anand made the announcement to reporters in Ottawa on Friday. 2:38

But these delays mean that many people will be kept waiting much longer for shots than they originally anticipated. While deliveries might return to a more normal flow, it will be difficult for provinces to pump through hundreds of thousands of patients in a short timeframe to reach vaccination targets.

The delivery hiccup also could push off the vaccination campaign for the general population, which had a start date of April 1.

Pharmacies have said they could vaccinate as many 2.5 million people per week if all 11,500 community pharmacies in this country are mobilized, but the lack of supply has delayed their participation in the effort.

What is Prime Minister Justin Trudeau doing about this?

While the prime minister of Israel has had more than a dozen calls with the CEO of Pfizer, and the president of the European Union has personally reached out to the company’s leadership, Trudeau has said that Anand is the lead on this file.

“I can assure you that Minister Anand is talking almost daily with Pfizer and the other vaccine companies to ensure that we get as many doses as possible, as quickly as possible, and that work will continue,” he said. “We will not rest, we will not slow down.”

Israeli Prime Minister Benjamin Netanyahu, center, and his Health Minister Yuli Edelstein, second left, attend the arrival of plane with a shipment of Pfizer coronavirus vaccines at Ben Gurion Airport, near the city of Lod, Israel, on Jan. 10, 2021. (Motti Millrod/AP Photo)

When pressed by Vassy Kapelos, host of CBC’s Power & Politics, to state whether Trudeau has personally contacted Pfizer to ask for more doses, Anand would only say that she has been in “close communication” with the prime minister.

Some observers have said Trudeau should ask U.S. President Joe Biden to temporarily float Canada some vaccines from the Michigan plant as a sign of goodwill — especially after Biden rescinded the presidential permits for the Keystone XL pipeline.

So how are the provinces reacting to all this?

Not well. Ontario Premier Doug Ford has said the delivery delays will be very disruptive. The province also has said the temporary stoppage could mean its goal of immunizing all long-term care residents in the province by Feb. 15 won’t be achieved.

“If I was in (Trudeau’s) shoes … I’d be on that phone call every single day. I’d be up that guy’s yin-yang so far with a firecracker he wouldn’t know what hit him,” he said of Pfizer’s executives. “I would not stop until we get these vaccines.”

On Wednesday, Ford called Pfizer Canada President Cole Pinnow to discuss the situation.

“He reiterated the serious impact these cancelled shipments will have on Ontario and sought answers as to why Canada isn’t receiving vaccines as quickly as other countries,” Ford’s office said in a media statement after the call.

Ford also has suggested Biden should “help out its neighbour” by releasing some shots to Canada.

Ontario Premier Doug Ford watches a health care worker prepare a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN vaccine clinic in Toronto on Thursday, January 7, 2021. (Nathan Denette/Canadian Press)

Alberta Premier Jason Kenney said Tuesday the province is putting a temporary hold on the first dose of COVID-19 vaccinations to ensure it has enough vaccine to provide a second dose to people who have already received their first shot.

“By pausing first appointments, we can ensure enough vaccine is allocated for committed second-dose appointments,” Kenney said.

How is Canada doing compared to the rest of the world?

Canada has administered some 700,000 shots – roughly 1.7 per cent of the population has received at least one dose of either the Pfizer or Moderna products. In Ontario, about 40,000 people have been fully vaccinated against the virus.

The United States has vaccinated three times more people per capita than Canada.

The U.K., too, has been a world leader in getting shots into the arms of patients. Nearly 7.5 per cent of the British and Northern Irish population has so far received at least one dose.

Canada’s vaccination effort has also been outpaced to date by those in Bahrain, Denmark, Ireland, Israel, Italy, Lithuania, Malta, Slovenia, Spain and the United Arab Emirates, among others.

But according to the latest data collated by the University of Oxford-based Our World in Data, Canada has administered more shots per capita than G7 partners like Germany and France, and middle-income countries like Argentina and Costa Rica.

“I had a lovely conversation with Angela Merkel yesterday morning in which she sort of complained to me that every day she gets it from the German media that they’re not doing as well as Canada,” Trudeau told reporters Tuesday.

“I think a lot of people are comparing stories from country to country and trying to figure out how we can all move quicker.”

The EU authorized the Moderna product for use two weeks after Health Canada regulators gave that vaccine the necessary approvals, which could account for the slower start to vaccination campaigns in countries like Germany.

What about the other promising vaccine candidates?

Health Canada regulators are still reviewing clinical trial data for both the AstraZeneca and Johnson & Johnson products. Canada has placed orders for doses from these companies but a delivery schedule is far from certain, given that the regulatory review is still underway.

The U.K. approved the AstraZeneca vaccine on Dec. 30.

The product from Johnson & Johnson’s pharmaceutical division, Janssen, has not been approved for use anywhere in the world. Some countries are eager to secure doses of this vaccine because it only requires one shot.

The company has not yet presented publicly any final data on its effectiveness, although some early results, published in the prestigious New England Journal of Medicine, are promising.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

News

Canada Child Benefit payment on Friday | CTV News – CTV News Toronto

Published

 on


More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.

The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.

Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.

300x250x1

The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.

For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.

That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.

The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.

To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.

The next payment date will take place on May 17. 

Adblock test (Why?)

728x90x4

Source link

Continue Reading

News

Capital gains tax change draws ire from some Canadian entrepreneurs worried it will worsen brain drain – CBC.ca

Published

 on


A chorus of Canadian entrepreneurs and investors is blasting the federal government’s budget for expanding a tax on the rich. They say it will lead to brain drain and further degrade Canada’s already poor productivity.

In the 2024 budget unveiled Tuesday, Finance Minister Chrystia Freeland said the government would increase the inclusion rate of the capital gains tax from 50 per cent to 67 per cent for businesses and trusts, generating an estimated $19 billion in new revenue.

Capital gains are the profits that individuals or businesses make from selling an asset — like a stock or a second home. Individuals are subject to the new changes on any profits over $250,000.

300x250x1

The government estimates that the changes would impact 40,000 individuals (or 0.13 per cent of Canadians in any given year) and 307,000 companies in Canada.

However, some members of the business community say that expanding the taxable amount will devastate productivity, investment and entrepreneurship in Canada, and might even compel some of the country’s talent and startups to take their business elsewhere.

WATCH | The federal budget hikes capital gains inclusion rate: 

Federal budget adds billions in spending, hikes capital gains tax

3 days ago

Duration 6:14

Finance Minister Chrystia Freeland unveiled the government’s 2024 federal budget, with spending targeted at young voters and a plan to raise capital gains taxes for some of the wealthiest Canadians.

Benjamin Bergen, president of the Council of Canadian Innovators (CCI), said the capital gains tax has overshadowed parts of the federal budget that the business community would otherwise be excited about.

“There were definitely some other stars in the budget that were interesting,” he said. “However, the … capital gains piece really is the sun, and it’s daylight. So this is really the only thing that innovators can see.”

The CCI has written and is circulating an open letter signed by more than 1,000 people in the Canadian business community to Trudeau’s government asking it to scrap the tax change.

Shopify CEO Tobi Lütke and president Harley Finkelstein also weighed in on the proposed hike on X, formerly known as Twitter.

Former finance minister Bill Morneau said his successor’s budget disincentivizes businesses from investing in the country’s innovation sector: “It’s probably very troubling for many investors.”

Canada’s productivity — a measure that compares economic output to hours worked — has been relatively poor for decades. It underperforms against the OECD average and against several other G7 countries, including the U.S., Germany, U.K. and Japan, on the measure. 

Bank of Canada senior deputy governor Carolyn Rogers sounded the alarm on Canada’s lagging productivity in a speech last month, saying the country’s need to increase the rate had reached emergency levels, following one of the weakest years for the economy in recent memory.

The government said it was proposing the tax change to make life more affordable for younger generations and fund efforts to boost housing supply — and that it would support productivity growth.

A challenge for investors, founders and workers

The change could have a chilling effect for several reasons, with companies already struggling to access funding in a high interest rate environment, said Bergen.

He questioned whether investors will want to fund Canadian companies if the government’s taxation policies make it difficult for those firms to grow — and whether founders might just pack up.

The expanded inclusion rate “is just one of the other potential concerns that firms are going to have as they’re looking to grow their companies.”

A man with short brown hair wearing a light blue suit jacket looks directly at the camera, with a white background behind him.
Benjamin Bergen, president of the Council of Canadian Innovators, said the proposed change could have a chilling effect for several reasons, with companies already struggling to access and raise financing in a high interest rate environment. (Submitted by Benjamin Bergen)

He said the rejigged tax is also an affront to high-skilled workers from low-innovation sectors who might have taken the risk of joining a startup for the opportunity, even taking a lower wage on the chance that a firm’s stock options grow in value.

But Lindsay Tedds, an associate economics professor at the University of Calgary, said the tax change is one of the most misunderstood parts of the federal budget — and that its impact on the country’s talent has been overstated.

“This is not a major innovation-biting tax change treatment,” Tedds said. “In fact, when you talk to real grassroots entrepreneurs that are setting up businesses, tax rates do not come into their decision.”

As for productivity, Tedds said Canadians might see improvements in the long run “to the degree that some of our productivity problems are driven by stresses like housing affordability, access to child care, things like that.”

‘One foot on the gas, one foot on the brake’

Some say the government is sending mixed messages to entrepreneurs by touting tailored tax breaks — like the Canada Entrepreneurs’ Incentive, which reduces the capital gains inclusion rate to 33 per cent on a lifetime maximum of $2 million — while introducing measures they say would dampen investment and innovation.

“They seem to have one foot on the gas, one foot on the brake on the very same file,” said Dan Kelly, president of the Canadian Federation of Independent Business.

WATCH | Could the capital gains tax changes impact small businesses?: 

How could capital gains tax increases impact Canadian small businesses? | Power & Politics

2 days ago

Duration 12:18

Some business groups are worried that new capital gains tax changes could hurt economic growth. But according to Small Business Minister Rechie Valdez, most Canadians won’t be impacted by that change — and it’s a move to create fairness.

A founder may be able to sell their successful company with a lower capital gains treatment than otherwise possible, he said.

“At the same time, though, big chunks of it may be subject to a higher rate of capital gains inclusion.”

Selling a company can fund an individual’s retirement, he said, which is why it’s one of the first things founders consider when they think about capital gains.

LISTEN | What does a hike on the capital gains tax mean?: 

Mainstreet NS7:03Ottawa is proposing a hike to capital gains tax. What does that mean?

Tuesday’s federal budget includes nearly $53 billion in new spending over the next five years with a clear focus on affordability and housing. To help pay for some of that new spending, Ottawa is proposing a hike to the capital gains tax. Moshe Lander, an economics lecturer at Concordia University, joins host Jeff Douglas to explain.

Dennis Darby, president and CEO of Canadian Manufacturers & Exporters, says he was disappointed by the change — and that it sends the wrong message to Canadian industries like his own.

He wants to see the government commit to more tax credit proposals like the Canada Carbon Rebate for Small Businesses, which he said would incentivize business owners to stay and help make Canada competitive with the U.S.

“We’ve had a lot of difficulties attracting investment over the years. I don’t think this will make it any better.”

Tech titan says change will only impact richest of the rich

A man sits on an orange couch in an office.
Ali Asaria, the CEO of Transformation Lab and former CEO of Tulip Retail, told CBC News that the proposed change to the capital gains tax is ‘going to really affect the richest of the rich people.’ (Tulip Retail)

Toronto tech entrepreneur Ali Asaria will be one of those subject to the expanded capital gains inclusion rate — but he says it’s only fair.

“It’s going to really affect the richest of the rich people,” Asaria, CEO of open source platform Transformer Lab and founder of well.ca, told CBC News.

“The capital gains exemption is probably the largest tax break that I’ve ever received in my life,” he said. “So I know a lot about what that benefit can look like, but I’ve also always felt like it was probably one of the most unfair parts of the tax code today.”

While Asaria said Canada needs to continue encouraging talent to take risks and build companies in the country, taxation policies aren’t the most major problem.

“I think that the biggest central issue to the reason why people will leave Canada is bigger issues, like housing,” he said.

“How do we make it easier to live in Canada so that we can all invest in ourselves and invest in our companies? That’s a more important question than, ‘How do we help the top 0.13 per cent of Canadians make more money?'”

Adblock test (Why?)

728x90x4

Source link

Continue Reading

News

Canada Child Benefit payment on Friday | CTV News – CTV News Toronto

Published

 on


More money will land in the pockets of Canadian families on Friday for the latest Canada Child Benefit (CCB) installment.

The federal government program helps low and middle-income families struggling with the soaring cost of raising a child.

Canadian citizens, permanent residents, or refugees who are the primary caregivers for children under 18 years old are eligible for the program, introduced in 2016.

300x250x1

The non-taxable monthly payments are based on a family’s net income and how many children they have. Families that have an adjusted net income under $34,863 will receive the maximum amount per child.

For a child under six years old, an applicant can annually receive up to $7,437 per child, and up to $6,275 per child for kids between the ages of six through 17.

That translates to up to $619.75 per month for the younger cohort and $522.91 per month for the older group.

The benefit is recalculated every July and most recently increased 6.3 per cent in order to adjust to the rate of inflation, and cost of living.

To apply, an applicant can submit through a child’s birth registration, complete an online form or mail in an application to a tax centre.

The next payment date will take place on May 17. 

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Trending