Province releases COVID-19 economic recovery plan

As of august 2020, close to 250,000 jobs have been restored, an equivalent of 62 per cent of the total jobs lost due to the pandemic.

“When COVID-19 first hit, we acted quickly to keep people safe and support those in need. While we are now starting to see hopeful signs of recovery, we know many people are still struggling and there is a lot of work left to do.”—Carole Jame, B.C. Finance Minister

The Province is adding 7,000 new jobs to health care, including health-care aides to manage outbreaks at long-term care homes and 600 contact tracers. New job opportunities will be available to British Columbians with the Province investing in short-term training in the skills people will need in order to find work in high-demand fields such as front-line health and child-care and human-service positions.

A 15 per cent refundable tax credit on new payroll will be available to businesses as incentive to help them grow and rehire, along with the introduction of a small-and medium-sized business recovery grant to support 15,000 businesses most affected by COVID-19. The plan also includes a 100 per cent PST rebate on select machinery and equipment to make it easier for businesses to make investments that will help them grow. $400 million are being invested to revitalize community infrastructure and support local governments provide services communities depend on.

The plan includes $1.5 billion in economic recovery spending measures that respond to immediate needs, which was earmarked back in the spring. Additionally, $660 million in tax measures and more than $1.86 billion in federal and provincial restart funding for municipalities, transit and education.

Nearly 50,000 British Columbians were surveyed in process of developing the plan.

Photo Courtesy: Province of British Columbia, Flickr.

by CKPG Today

Province releases COVID-19 economic recovery plan

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