Connect with us

Economy

Ontario health-care workers struggle with burnout as economy poised to reopen – Globalnews.ca

Published

 on


Bracing for impact, front-line workers in Ontario continue providing care as the threat of a third wave of COVID-19 infections looms against the backdrop of an economy poised to reopen.

Restrictions in Ontario are easing up, and in-person schooling in COVID-19 hot spots, including Toronto, York and Peel regions, is slated to resume next week.

While many people are happy about these measures, some health-care workers say it’s too much too soon, with some raising concerns about another spike in COVID-19 cases, and effects of the burnout happening on the front lines.

Read more:
Front-line nurses suffering psychological distress, burn-out amid COVID-19: association

“I feel like we kind of got tumbled out of a waterfall, and just popped our heads up for a breath,” emergency room physician Dr. Steve Flindall, told Global News, “and now we are being sent towards another set of rapids.”

Story continues below advertisement

Flindall worries a third wave of COVID-19 could materialize in Ontario within a matter of weeks.

“I’m afraid it’s going to be less than a month, I’m worried with schools going back, and the simultaneous reopening of businesses, the doubling rate of the U.K. variant… it could be quite explosive if people drop their guard,” said Flindall.


Click to play video 'COVID Variants: Will they cause Canada’s third wave?'



10:59
COVID Variants: Will they cause Canada’s third wave?


COVID Variants: Will they cause Canada’s third wave?

Some family physicians have said they are stretched to the limit. “If I burn out, if I say ‘that’s it I can’t do it anymore,’ or if I get sick and I get COVID, I will have 1,500 patients that that don’t have a doctor,” said Ottawa family physician Dr. Nili Kaplan-Myrth.

She recalls how one of her colleagues from Alberta told her, to avoid burnout, it’s important to ‘pass the baton’ in order to keep going. “The problem is there isn’t anyone to pass it to, because we are all tired,” Kaplan-Myrth said.

Story continues below advertisement

Read more:
Research finds stress, anxiety climbing for health-care workers during COVID-19 pandemic

DJ Sanderson is a nurse, and also serves on the board of directors for the Ontario Nurses’ Association. Sanderson said he is worried the decisions being made by the provincial government will only contribute to the stress on the front lines.

“The stress, the workload, the short staffing, the long shifts in full PPE, [it’s] just wearing on them to the point where they just can’t take it anymore,” Sanderson said.

In some cases he said, the burnout is so significant nurses are starting to leave the profession earlier than they had planned.

“We are hearing back from a number of our members, that in all honesty had planned on working a number of years, [that even though] they enjoy their careers, they’ve now started putting in for early retirement,” said Sanderson.

Story continues below advertisement

“Something needs to be done quickly to make sure there is a system that can take another wave.”


Click to play video '‘Nobody wants a third wave’ of COVID-19 infections, Trudeau says'



1:30
‘Nobody wants a third wave’ of COVID-19 infections, Trudeau says


‘Nobody wants a third wave’ of COVID-19 infections, Trudeau says

© 2021 Global News, a division of Corus Entertainment Inc.

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

Canadian dollar clings to this week’s gains as oil climbs

Published

 on

Canadian dollar

By Fergal Smith

TORONTO (Reuters) – The Canadian dollar was little changed against its broadly stronger U.S. counterpart on Wednesday, holding on to this week’s gains as oil prices rose and domestic data showed the value of building permits scaling a record high in January.

The loonie was trading nearly unchanged at 1.2629 to the greenback, or 79.18 U.S. cents. Since the start of the week, it has advanced 0.9%.

Canada‘s “strong” GDP data and the rally in oil prices have helped underpin the Canadian dollar, said George Davis, chief technical strategist at RBC Capital Markets.

The price of oil, one of Canada‘s major exports, settled 2.6% higher at $61.28 a barrel, boosted by a huge drop in U.S. fuel inventories and expectations that OPEC+ producers might decide against increasing output when they meet this week.

Canadian building permits rose 8.2% in January from December to C$9.9 billion, surpassing the previous record set in April 2019, Statistics Canada said.

On Tuesday, data showed that Canada‘s economy grew at an annualized rate of 9.6% in the fourth quarter and likely rose again in January, boosting speculation the Bank of Canada will reduce its bond purchases soon.

The central bank is due to make an interest rate decision next Wednesday.

A break of 1.2587 would add “to positive CAD momentum,” while the currency could find buyers at 1.2655, Davis said.

The U.S. dollar rose against a basket of major currencies as investors priced for strong U.S. growth relative to other regions.

Canadian government bond yields were higher across a steeper curve in tandem with U.S. Treasury yields. The 10-year rose 7.6 basis points to 1.401% but was trading well below Friday’s 13-month high at 1.501%.

 

(Reporting by Fergal Smith; Editing by Jonathan Oatis and Peter Cooney)

Continue Reading

Economy

UK extends job support, tax breaks for pandemic-hit economy – Lethbridge News Now

Published

 on


U.K. public borrowing has risen to levels not seen since World War II as the government seeks to cushion the fallout from COVID-19, which has reduced gross domestic product by 10% and cost more than 700,000 people their jobs. Projections released Wednesday by the Office for Budget Responsibility show that the economy will still be 3% smaller five years from now than it would have been without the pandemic.

Sunak said government support programs have succeeded in mitigating the impact. The unemployment rate is now expected to peak at about 6.5%, rather than the 11.9% forecast last July, he said, citing estimates from the Office for Budget Responsibility. The economy is forecast to grow 4% this year and 7.3% in 2022.

On Wednesday, Sunak announced plans to extend those support programs for six months. They include a furlough program, under which the government pays 80% of the wages for private employees unable to work during the pandemic, as well as grants for self-employed workers, a temporary increase in welfare payments and tax relief for businesses.

Looking to the future, Sunak said the government will in 2023 increase corporation tax to 25%, from the current rate of 19%, and freeze personal income tax thresholds, which will increase revenue as inflation boosts incomes.

But opposition leader Keir Starmer accused Sunak of failing to address deep-seated economic problems and banking on a “consumer spending blitz” to bail out the economy.

Starmer said the budget fails millions of key workers who are having their pay frozen, businesses swamped by debt, and families paying higher local property taxes.

“The central problem in our economy is a deep-rooted insecurity and inequality, and this budget isn’t the answer to that,” Starmer said. “So rather than the big, transformative budget that we needed, this budget simply papers over the cracks.”

Ian Blackford, the Scottish National Party’s leader in Parliament, criticized Sunak for continuing a strategy of temporary support that leaves businesses and consumers unsure of the future.

The budget leaves Scottish voters with a clear choice as the SNP campaigns to hold a second referendum on independence from the U.K., Blackford said.

“For the people of Scotland, this budget comes at a critical moment of choice,” he said, echoing Sunak’s language. “Post-Brexit and post-pandemic, Scotland now has a choice of two futures: The long-term damage of Brexit and more Tory austerity cuts, or the opportunity to protect her place in Europe and to build a strong, fair and green recovery with independence.”

___

Follow AP coverage of the virus outbreak at:

https://apnews.com/hub/coronavirus-pandemic

https://apnews.com/hub/coronavirus-vaccine

https://apnews.com/UnderstandingtheOutbreak

Danica Kirka, The Associated Press

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

UK extends job support, tax breaks for pandemic-hit economy – North Shore News

Published

 on


LONDON — Britain’s treasury chief on Wednesday announced an additional 65 billion pounds ($91 billion) of support for an economy ravaged by the coronavirus pandemic, extending job support programs and temporary tax cuts to help workers and businesses in his annual budget.

Chancellor of the Exchequer Rishi Sunak told the House of Commons that it is too soon for the government to rein in spending, saying that his plans would “protect the jobs and livelihoods of the British people” through September as the government slowly lifts lockdown restrictions that have shut businesses across the U.K.

At the same time, he said Britain must be prepared to cut the deficit, announcing plans to increase the tax on corporate profits and boost revenue from personal income taxes in 2023.

“An important moment is upon us,” Sunak told the House of Commons. “A moment of challenge and of change. Of difficulties, yes, but of possibilities, too. This is a budget that meets that moment.”

U.K. public borrowing has risen to levels not seen since World War II as the government seeks to cushion the fallout from COVID-19, which has reduced gross domestic product by 10% and cost more than 700,000 people their jobs. Projections released Wednesday by the Office for Budget Responsibility show that the economy will still be 3% smaller five years from now than it would have been without the pandemic.

Sunak said government support programs have succeeded in mitigating the impact. The unemployment rate is now expected to peak at about 6.5%, rather than the 11.9% forecast last July, he said, citing estimates from the Office for Budget Responsibility. The economy is forecast to grow 4% this year and 7.3% in 2022.

On Wednesday, Sunak announced plans to extend those support programs for six months. They include a furlough program, under which the government pays 80% of the wages for private employees unable to work during the pandemic, as well as grants for self-employed workers, a temporary increase in welfare payments and tax relief for businesses.

Sunak cheered business leaders by offering a tax credit of up to 130% of the money companies invest in expanding and improving their operations. Sunak said the credit is expected to increase investment by 10% or 25 billion pounds over the next two years, creating jobs and boosting economic growth.

Stephen Phipson, chief executive of Make UK, described the policy as bold.

“Manufacturers have strong intentions to invest in capital equipment as well as digital and green technologies which are crucial for our long-term recovery,” he said. “Today’s announcement should help turbocharge investment to ensure that those plans turn into reality in the short-term.”

Looking to the future, Sunak said the government will in 2023 increase corporation tax to 25%, from the current rate of 19%, and freeze personal income tax thresholds, which will increase revenue as inflation boosts incomes.

But opposition leader Keir Starmer accused Sunak of failing to address deep-seated economic problems and banking on a “consumer spending blitz” to bail out the economy.

Starmer said the budget fails millions of key workers who are having their pay frozen, businesses swamped by debt, and families paying higher local property taxes.

“The central problem in our economy is a deep-rooted insecurity and inequality, and this budget isn’t the answer to that,” Starmer said. “So rather than the big, transformative budget that we needed, this budget simply papers over the cracks.”

Ian Blackford, the Scottish National Party’s leader in Parliament, criticized Sunak for continuing a strategy of temporary support that leaves businesses and consumers unsure of the future.

The budget leaves Scottish voters with a clear choice as the SNP campaigns to hold a second referendum on independence from the U.K., Blackford said.

“For the people of Scotland, this budget comes at a critical moment of choice,” he said, echoing Sunak’s language. “Post-Brexit and post-pandemic, Scotland now has a choice of two futures: The long-term damage of Brexit and more Tory austerity cuts, or the opportunity to protect her place in Europe and to build a strong, fair and green recovery with independence.”

___

Follow AP coverage of the virus outbreak at:

https://apnews.com/hub/coronavirus-pandemic

https://apnews.com/hub/coronavirus-vaccine

https://apnews.com/UnderstandingtheOutbreak

Danica Kirka, The Associated Press








Let’s block ads! (Why?)



Source link

Continue Reading

Trending