Stock indexes end mixed as damage to the economy piles up - Yahoo Canada Finance | Canada News Media
Connect with us

Economy

Stock indexes end mixed as damage to the economy piles up – Yahoo Canada Finance

Published

 on


The Canadian Press

A look at what provinces and territories have said about COVID-19 vaccine plans

The federal government says the largest mass immunization effort in Canadian history could begin as early as next week. Prime Minister Justin Trudeau says Ottawa expects to receive up to 249,000 doses of the COVID-19 vaccine developed by pharmaceutical giant Pfizer and German partner BioNTech. Health Canada has approved its use. The second vaccine in line for approval in Canada is from Moderna. The Canadian military will have a role to play in vaccine distribution. Various provinces have started spelling out their plans as well. Here’s a look at what they’ve said so far: —Newfoundland and LabradorPremier Andrew Furey says he anticipates receiving 1,950 doses of the COVID-19 vaccine at the St. John’s receiving site next week.The announcement comes as Furey told reporters Monday that the province would remain outside of the Atlantic “bubble,” meaning all visitors to the province must self-isolate for 14 days, regardless of whether they come from Atlantic Canada.The province announced no new cases on Monday, but the town of Harbour Breton was on high alert as officials were still trying to chase down the source of an infection announced in the region over the weekend.Furey says the province expects another shipment of the vaccine later in the month.—Prince Edward IslandHealth officials on Prince Edward Island say they are ready to administer the COVID-19 vaccine when the first shipment of the vaccine arrives next week.Chief medical officer of health Dr. Heather Morrison says the province plans to begin by administering the Pfizer vaccine to priority groups, including residents and staff of long-term care homes, health-care workers and adults in Indigenous communities.Morrison says she expects to receive 1,950 doses in the first shipment, and the clinic will have to be held at the storage location because the Pfizer vaccine must be kept frozen. She says the province will be able to start administering the doses the day after the vaccine arrives.—New BrunswickNew Brunswick health officials say the province expects to receive up to 1,950 doses of the Pfizer vaccine around Dec. 14 as part of the first of two shipments that may occur this month.The province is working to identify the priority groups that will receive the vaccine in the first phase of vaccinations, based on recommendations from the federal government.—Nova ScotiaNova Scotia’s chief medical officer of health says the province will receive 1,950 doses of Pfizer’s vaccine for an initial test run beginning Tuesday.Dr. Robert Strang says the first doses will be used to immunize front-line health workers in the Halifax area who are most directly involved in the pandemic response.Strang says because the vaccine has specific handling requirements, Pfizer has stipulated that the initial round of immunizations take place near where the doses are stored.Nova Scotia has one ultralow-temperature freezer to store the vaccine at the tertiary care teaching complex at the Queen Elizabeth II Health Sciences Centre.Strang says the province is getting another freezer through Ottawa that will operate out of a central depot for vaccines at the public health office in Halifax. The province is also looking at securing freezers from the private sector.—QuebecQuebec says the first doses of the COVID-19 vaccine could be administered in the province as early as next week.Health Minister Christian Dube says the province plans to give its first doses of the Pfizer vaccine to about 2,000 people in long-term care homes.In a technical briefing before a Monday news conference, public health experts said residents of long-term care homes and health-care workers would have first priority to receive the vaccine. The groups next in line are people living in private seniors residences, followed by residents of isolated communities and then anyone aged 80 and over.Dube says Quebec also expects to receive enough Pfizer vaccines between Dec. 21 and Jan. 4 to vaccinate 22,000 to 28,000 people.It comes as Premier Francois Legault said Tuesday that his government isn’t ruling out implementing further restrictions.—OntarioOntario will begin administering COVID-19 vaccinations on Tuesday at hospitals in Toronto and Ottawa. Premier Doug Ford says the University Health Network in Toronto and the Ottawa Hospital will be the first sites to receive and administer the shots from Pfizer. He says health-care workers providing care in long-term care homes and other high-risk settings will receive the initial doses. The province says Ontario will receive 6,000 doses of Pfizer’s COVID-19 vaccine on Monday.Retired Gen. Rick Hillier, who is leading Ontario’s vaccine task force, says the province anticipates it will receive 90,000 doses of the Pfizer vaccine by the end of December and will distribute it to 13 hospitals across Ontario. He also says Ontario may also receive between 30,000 and 85,000 doses of the Moderna vaccine by the new year, provided it is approved by Health Canada in the coming weeks.Hillier has noted, however, that it may be April before the shots are widely available to residents. The province expects to be able to vaccinate 1.2 million people during the first three months of 2021.It will also be prioritizing the rollout of the vaccine in regions with the highest rates of COVID-19 infection.Health Minister Christine Elliott says while the vaccine is not mandatory, people who do not get the shot may face travel restrictions or may not be able to access some communal spaces.Elliott says the province will provide proof of immunization to everyone who receives a dose—Manitoba Premier Brian Pallister says some 900 health-care workers in critical care units will be the first to receive the vaccine after doses start to arrive as early as next week.As more shipments come in, priority will be given to other health-care workers, seniors and Indigenous people.The province hopes to vaccinate more than 100,000 people by March — that’s roughly seven per cent of Manitoba’s population.Officials say they’ve been setting up a large-scale “supersite” to deliver the vaccine. The first freezer able to store the Pfizer vaccine at low temperatures has been delivered and installed, with another four on the way. The province says the vaccine will become more widely available at a larger number of sites, similar to a conventional vaccination campaign, such as the annual flu shot.–SaskatchewanSaskatchewan plans to start immunizing critical health-care workers against COVID-19 in a pilot project next week. Premier Scott Moe says the province expects to receive 1,950 doses of Pfizer’s vaccine by Tuesday. A pilot vaccination program at the Regina General Hospital will give the vaccine to health-care workers in intensive and emergency care, COVID-19 units and those working in testing and assessment centres.The first official stage of Saskatchewan’s vaccination program will be in late December when the province receives more doses. It will target more health-care workers, staff and residents in long-term care, seniors over 80 and people in remote areas who are at least 50.Some 202,052 doses of the Pfizer vaccine are expected to arrive within the first quarter of next year, and there are to be 10,725 weekly allocations.Moe says vaccinations for the general population is expected to begin in April.–AlbertaAlberta Health Minister Tyler Shandro says the first Pfizer vaccinations will begin Dec. 16, focusing on two hospitals in Edmonton and two in Calgary.There will be 3,900 doses going to intensive care doctors, nurses, respiratory therapists and care-home workers.Shandro says the vaccine must be administered at its delivery site, so it can’t go to care homes.The second batch is expected later this month.The province says it eventually plans to roll out the vaccine from 30 different locations.—British ColumbiaBritish Columbia’s provincial health officer, Dr. Bonnie Henry, says because the Pfizer vaccine needs to be stored at ultracold temperatures, officials will bring people to the vaccine instead of the vaccine to the people.Henry says workers in long-term care facilities will be the first to get the doses starting next week.She expects about 400,000 residents to be vaccinated by March.Those recipients are to be health-care workers, people over 80, vulnerable populations, and front-line workers, including teachers and grocery workers.—Nunavut Nunavut’s chief public health officer says the territory will look to get the Moderna vaccine once it’s available in Canada. Dr. Michael Patterson, says Moderna’s vaccine is preferred because Pfizer’s requires cold storage and shipping would be too difficult in Nunavut. Patterson says Iqaluit is the only community where it would be possible to store the Pfizer vaccine.Patterson says the territory’s focus for vaccine rollout will be higher risk groups, such as elders. He says the rollout depends on how many doses Nunavut gets, which is still unknown. Lorne Kusugak, Nunavut’s health minister, says he’s been lobbying the federal government to make Nunavut a high priority to receive COVID-19 vaccines.__Northwest TerritoriesN.W.T. officials say they hope to have details of its vaccine plan released by Dec. 11._YukonYukon says it will get enough of the Moderna vaccine by spring to vaccinate 75 per cent of its residents.A statement from the Yukon government says the territory’s allocation is in recognition of it’s large Indigenous populations and remote communities.Premier Sandy Silver says getting vaccinated is the best thing residents can do to protect themselves and their loved ones.”Over time, widespread immunization will allow us to return to a life without COVID-19 restrictions.”This report by The Canadian Press was first published Dec. 16, 2020.The Canadian Press

Let’s block ads! (Why?)



Source link

Continue Reading

Economy

B.C.’s debt and deficit forecast to rise as the provincial election nears

Published

 on

 

VICTORIA – British Columbia is forecasting a record budget deficit and a rising debt of almost $129 billion less than two weeks before the start of a provincial election campaign where economic stability and future progress are expected to be major issues.

Finance Minister Katrine Conroy, who has announced her retirement and will not seek re-election in the Oct. 19 vote, said Tuesday her final budget update as minister predicts a deficit of $8.9 billion, up $1.1 billion from a forecast she made earlier this year.

Conroy said she acknowledges “challenges” facing B.C., including three consecutive deficit budgets, but expected improved economic growth where the province will start to “turn a corner.”

The $8.9 billion deficit forecast for 2024-2025 is followed by annual deficit projections of $6.7 billion and $6.1 billion in 2026-2027, Conroy said at a news conference outlining the government’s first quarterly financial update.

Conroy said lower corporate income tax and natural resource revenues and the increased cost of fighting wildfires have had some of the largest impacts on the budget.

“I want to acknowledge the economic uncertainties,” she said. “While global inflation is showing signs of easing and we’ve seen cuts to the Bank of Canada interest rates, we know that the challenges are not over.”

Conroy said wildfire response costs are expected to total $886 million this year, more than $650 million higher than originally forecast.

Corporate income tax revenue is forecast to be $638 million lower as a result of federal government updates and natural resource revenues are down $299 million due to lower prices for natural gas, lumber and electricity, she said.

Debt-servicing costs are also forecast to be $344 million higher due to the larger debt balance, the current interest rate and accelerated borrowing to ensure services and capital projects are maintained through the province’s election period, said Conroy.

B.C.’s economic growth is expected to strengthen over the next three years, but the timing of a return to a balanced budget will fall to another minister, said Conroy, who was addressing what likely would be her last news conference as Minister of Finance.

The election is expected to be called on Sept. 21, with the vote set for Oct. 19.

“While we are a strong province, people are facing challenges,” she said. “We have never shied away from taking those challenges head on, because we want to keep British Columbians secure and help them build good lives now and for the long term. With the investments we’re making and the actions we’re taking to support people and build a stronger economy, we’ve started to turn a corner.”

Premier David Eby said before the fiscal forecast was released Tuesday that the New Democrat government remains committed to providing services and supports for people in British Columbia and cuts are not on his agenda.

Eby said people have been hurt by high interest costs and the province is facing budget pressures connected to low resource prices, high wildfire costs and struggling global economies.

The premier said that now is not the time to reduce supports and services for people.

Last month’s year-end report for the 2023-2024 budget saw the province post a budget deficit of $5.035 billion, down from the previous forecast of $5.9 billion.

Eby said he expects government financial priorities to become a major issue during the upcoming election, with the NDP pledging to continue to fund services and the B.C. Conservatives looking to make cuts.

This report by The Canadian Press was first published Sept. 10, 2024.

Note to readers: This is a corrected story. A previous version said the debt would be going up to more than $129 billion. In fact, it will be almost $129 billion.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Mark Carney mum on carbon-tax advice, future in politics at Liberal retreat

Published

 on

 

NANAIMO, B.C. – Former Bank of Canada governor Mark Carney says he’ll be advising the Liberal party to flip some the challenges posed by an increasingly divided and dangerous world into an economic opportunity for Canada.

But he won’t say what his specific advice will be on economic issues that are politically divisive in Canada, like the carbon tax.

He presented his vision for the Liberals’ economic policy at the party’s caucus retreat in Nanaimo, B.C. today, after he agreed to help the party prepare for the next election as chair of a Liberal task force on economic growth.

Carney has been touted as a possible leadership contender to replace Justin Trudeau, who has said he has tried to coax Carney into politics for years.

Carney says if the prime minister asks him to do something he will do it to the best of his ability, but won’t elaborate on whether the new adviser role could lead to him adding his name to a ballot in the next election.

Finance Minister Chrystia Freeland says she has been taking advice from Carney for years, and that his new position won’t infringe on her role.

This report by The Canadian Press was first published Sept. 10, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Nova Scotia bill would kick-start offshore wind industry without approval from Ottawa

Published

 on

 

HALIFAX – The Nova Scotia government has introduced a bill that would kick-start the province’s offshore wind industry without federal approval.

Natural Resources Minister Tory Rushton says amendments within a new omnibus bill introduced today will help ensure Nova Scotia meets its goal of launching a first call for offshore wind bids next year.

The province wants to offer project licences by 2030 to develop a total of five gigawatts of power from offshore wind.

Rushton says normally the province would wait for the federal government to adopt legislation establishing a wind industry off Canada’s East Coast, but that process has been “progressing slowly.”

Federal legislation that would enable the development of offshore wind farms in Nova Scotia and Newfoundland and Labrador has passed through the first and second reading in the Senate, and is currently under consideration in committee.

Rushton says the Nova Scotia bill mirrors the federal legislation and would prevent the province’s offshore wind industry from being held up in Ottawa.

This report by The Canadian Press was first published Sept. 10, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending

Exit mobile version