Connect with us

Economy

Gatineau: a key player in Quebec's economy – Canada NewsWire

Published

on


Minister Mélanie Joly announces more than $1.5M in support from Canada Economic Development for Quebec Regions for an organization and a group of businesses based in Gatineau.

GATINEAU, QC, Aug. 27, 2020 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED)

Quebec’s future and economic recovery depend on the strength of its businesses and organizations. For many years now, the Government of Canada has been committed to supporting these businesses and organizations for the ultimate benefit of Quebecers.

The Honourable Mélanie Joly, Minister of Economic Development and Official Languages, visited the Outaouais region today to announce a total of $1,553,448 in financial assistance. This funding will help expand the entrepreneurial ecosystem and allow recipients to continue operating despite the impact of the health crisis.

Five forward–looking projects to strengthen the local economy

The Outaouais region is home to hundreds of dynamic entrepreneurs and organizations with innovative ideas, which help stimulate their communities by creating high–quality jobs and boosting the local economy.

With this in mind, CED is providing $1,263,448 in support to five projects related to business start–up and growth and international marketing.

Additional information on the projects is provided in the related backgrounder.

ID Gatineau supports SMEs affected by COVID–19

The health crisis has had a major impact on the Outaouais economy, and a number of the region’s organizations need help to structure their operations, manage their cash flow and adapt to COVID–19 in order to continue operating.

CED is therefore providing $290,000 to ID Gatineau so that from now until March 31, 2021, it can offer technical assistance to businesses and NPOs affected by the economic fallout of COVID–19 located in the Gatineau, Hull and Aylmer areas. These businesses and organizations will be able to draw on the expertise and support of specialized resources to better prepare for the economic recovery.

Quotes

“Across the country, local businesses are contributing to the recovery of our economy. We therefore consider it a top priority to help them innovate to increase their competitiveness and create jobs for Quebecers. With today’s announcement, our message is clear: we are taking concrete action to support Quebec and are working with local businesses to create jobs for Quebecers and relaunch our economy.”

The Honourable Mélanie Joly, MP for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

Gatineau is home to an outstanding business community whose dynamic nature is not only a source of pride, but also a source of vitality and development for our community. The Government of Canada is determined to support innovation and growth, help local businesses export their products, and encourage the creation of high–quality jobs in the Outaouais region.”

Steven MacKinnon, MP for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement

“Today, more than ever, the government is here to help the Canadian economy recover during these difficult times. We must support our businesses, our urban and rural regions and our communities. It is now also important to buy local to help our business communities boost our economy.”

Stéphane Lauzon, MP for Argenteuil–La Petite-Nation and Parliamentary Secretary to the Minister of Seniors

“Since the pandemic began, the government has acknowledged that our businesses are faced with unique situations and challenges arising from COVID–19. This new funding will help businesses keep the Outaouais region strong as the economy recovers.”

William Amos, MP for Pontiac and Parliamentary Secretary to the Minister of Innovation, Science and Industry (Science)

“The government is investing in organizations like ID Gatineau and Foko to help relaunch our economy here in the Outaouais region. The pandemic has certainly been tough, but our community and its entrepreneurs are tougher.”

Greg Fergus, MP for Hull–Aylmer and Parliamentary Secretary to the President of the Treasury Board and to the Minister of Digital Government

Quick facts

  • The Honourable Mélanie Joly is the Minister responsible for the six regional development agencies (RDAs), including CED.
  • CED is the key federal partner for regional economic development in Quebec. With 12 regional business offices, CED helps businesses, support organizations and the regions of Quebec to prepare for the economy of tomorrow.
  • The repayable contributions made to the five SMEs were awarded under the Regional Economic Growth through Innovation (REGI) program, which aims to help Quebec’s SMEs expand through innovation.
  • The non–repayable contribution made to ID Gatineau was awarded through the Regional Relief and Recovery Fund (RRRF). With a total budget of almost $1 billion, the RRRF will provide $211 million in support to Quebec businesses and NPOs. Under this initiative, emergency working capital funding and technical assistance will be provided to the province’s businesses and NPOs.

Related links

Stay connected

Follow CED on social media
Check out CED’s news page

SOURCE Canada Economic Development for Quebec Regions

For further information: Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Alexander Cohen, Press Secretary, Office of the Minister of Economic Development and Official Languages, [email protected]

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

How our economy recovers: what Canadians need in a throne speech – theglobeandmail.com

Published

on


Mark Wiseman is chair of the Alberta Investment Management Corporation.

The economic crisis wrought by COVID-19 has been devastating, and the effects will linger long after a vaccine. In the early days of the pandemic our government quite rightly threw everything, including the kitchen sink, at the problem, to protect Canadians physically and economically. The government and the Bank of Canada worked quickly and deployed every fiscal and monetary tool available.

Now, a little more than six months into the crisis, we have racked up hundreds of billions of dollars of debt and monetary policy is quickly reaching its limits. Paying this debt back, especially with the medium-term threat of inflation, will be crippling for a generation of Canadians. To avoid this eventuality, we must embark today on a long-term growth and recovery plan.

Story continues below advertisement

There is no doubt that government must continue to spend aggressively. This path is not one that we chose; the pandemic has thrust it upon us. But now that we are here, it is crucial that dollars are spent efficiently and in ways that will stimulate long-term growth. A sustainable economic recovery needs to see Canada’s long-term GDP growth rate rise to approximately 3 per cent (from a prepandemic 2 per cent) to make certain that we can pay off the billions in necessary expenditures.

To begin, Ottawa should ensure spending on near-term relief programs are highly effective and efficient. Every dollar the government spends needs to be repaid, so it should be extra vigilant with every penny spent. Ottawa needs to quickly revisit existing programs to eliminate unintended consequences and disincentives – ensuring that Canadians get safely back to work as soon as possible.

In regards to the longer term, the private sector will lead the economic recovery. The government’s growth plan ought to be one where it invests aggressively in both physical and human capital to catalyze the private sector and create jobs. Government, labour and business must work together to achieve Canada’s economic growth goals.

Ottawa’s investment in physical and human capital should therefore focus on six priorities:

1. The first is long-term infrastructure that catalyzes economic growth, such as investments in transit, transport, pipelines, ports and communications infrastructure. These are projects that will create jobs today and pay dividends for decades to come.

2. Getting our natural resources, including energy, to market efficiently and safely is imperative. We must invest today to get our products to where the demand is globally. Time is of the essence and our natural resources sectors are imperilled. Wherever possible, Ottawa needs to partner with Indigenous communities to achieve this.

3. We must build resiliency into vital components of our supply chain – COVID-19 taught us the importance of this. We cannot allow ourselves to be at risk again. Both government and the private sector must invest more in our supply chains, especially in critical areas such as agriculture and medical needs.

Story continues below advertisement

4. The government should support start-ups and innovative small- and medium-sized enterprises through tax incentives, specifically encouraging equity investment and ownership in a small number of key areas where we have demonstrated capabilities, including information technology and agribusiness

5. We need more people – a lot more. We need skilled and unskilled labour from all over the world. The government ought to double down on our immigration advantage, especially for getting talent that traditionally has gone to the United States. In the near term, we must increase our immigration target to 500,000 a year and provide guaranteed permanent residency to any foreigner who completes a postsecondary degree or diploma in Canada. Almost all our economic growth since the Second World War is attributable to population growth. Given current birth rates, accelerated growth requires accelerated immigration.

6. As it has done with health care transfers, Ottawa should work aggressively with provincial governments to create a national child-care/early childhood education program that will be in place within 24 months. This program is conceived as an economic initiative, not a social program. It is required in order to a) achieve higher work force participation by making it easier for caregivers, most often women, to work, b) make it easier for Canadians to have children if they choose to do so, and c) focus on the next generation, since it has been proven that early learning is one of the most important components of human success.

Finally, all the above growth initiatives can and should be done through a green lens, even though a green recovery in and of itself is not a recovery plan. Achieving this growth objective will not be easy. But the government can develop a clear and cogent plan and work with partners in business and labour to execute.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

India's Nobel laureate fears upsurge in child labour as pandemic shrivels economy – The Journal Pioneer

Published

on


By Sunil Kataria

NEW DELHI (Reuters) – For four decades Indian Nobel peace laureate Kailash Satyarthi rescued thousands of children from the scourge of slavery and trafficking but he fears all his efforts could reverse as the coronavirus pandemic forces children into labour.

“The biggest threat is that millions of children may fall back into slavery, trafficking, child labour, child marriage,” said Satyarthi who was awarded the Nobel Peace Prize in 2014 for his work to combat child labour and child trafficking in India.

As the pandemic pummels the Indian economy, pushing millions of people into poverty, families are under pressure to put their children to work to make ends meet.

While rates of child labour have declined over the last few years, about 10.1 million children are still in some form of servitude in India, according to the United Nations children’s agency UNICEF.

Across India child labourers can be found in a variety of industries such as brick kilns, carpet-weaving, garment-making, domestic service, agriculture, fisheries and mining.

Earlier this month, Satyarthi’s organisation backed by police rescued dozens of girls during a raid on a shrimp processing unit in western India.

“Once children fall into that trap they could be pulled into prostitution and could be trafficked easily … this is another danger which government have to address now,” he said, adding that he believed sexual abuse of children was also on the rise due to the pandemic.

“I cannot be satisfied even if one single child is enslaved … it means there is something wrong in our polity, in our economy, in our society, we have to ensure that not a single child is left out,” he told Reuters.

(Writing by Rupam Jain; Editing by Stephen Coates)

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

India's Nobel laureate fears upsurge in child labour as pandemic shrivels economy – TheChronicleHerald.ca

Published

on


By Sunil Kataria

NEW DELHI (Reuters) – For four decades Indian Nobel peace laureate Kailash Satyarthi rescued thousands of children from the scourge of slavery and trafficking but he fears all his efforts could reverse as the coronavirus pandemic forces children into labour.

“The biggest threat is that millions of children may fall back into slavery, trafficking, child labour, child marriage,” said Satyarthi who was awarded the Nobel Peace Prize in 2014 for his work to combat child labour and child trafficking in India.

As the pandemic pummels the Indian economy, pushing millions of people into poverty, families are under pressure to put their children to work to make ends meet.

While rates of child labour have declined over the last few years, about 10.1 million children are still in some form of servitude in India, according to the United Nations children’s agency UNICEF.

Across India child labourers can be found in a variety of industries such as brick kilns, carpet-weaving, garment-making, domestic service, agriculture, fisheries and mining.

Earlier this month, Satyarthi’s organisation backed by police rescued dozens of girls during a raid on a shrimp processing unit in western India.

“Once children fall into that trap they could be pulled into prostitution and could be trafficked easily … this is another danger which government have to address now,” he said, adding that he believed sexual abuse of children was also on the rise due to the pandemic.

“I cannot be satisfied even if one single child is enslaved … it means there is something wrong in our polity, in our economy, in our society, we have to ensure that not a single child is left out,” he told Reuters.

(Writing by Rupam Jain; Editing by Stephen Coates)

Let’s block ads! (Why?)



Source link

Continue Reading

Trending