The Prime Minister of Canada, Justin Trudeau, has won the parliamentary elections. Still, his attempt pf winning a majority of seats failed, and the results were similar to what they were two years back. The Liberals did manage to win most seats of any party. They won 156 seats, one less than they won in 2019 and 14 less than 170, a number that's needed to get a majority in the House of Commons. Here's what Trudeau's election win means for businesses.
What Does Trudeau's Election Win Mean for
Businesses?
The Canadian businesses might not benefit from
Trudeau's election win because during the Labor Day Campaign, he had courted
employees with promises of better support measures and more tax credits. He pledged
to extend the Canada Recovery Hiring Programme till March 31, 2022. Doing so
will entice more employees back to the workplace. He also promised to expand
the Canada Workers Benefit to support one million more employees who are
working in low-wage jobs. He also wants to increase benefits for the most
vulnerable citizens of Canada.
Ø Paid Sick Leave
The Liberals promised that they would offer
salary bumps for support workers. They also said that they would ensure that
all federal employees got 10 days paid sick leave. The pledges were coupled
with a huge investment of $9 billion in training and wage implementation.
Ø Labour Mobility Tax Credit
The PM also promised that his government would
bring a new Labour Mobility Tax Credit, which would allow workers who work in
construction trades and building to "deduct up to $4,000 in eligible
expenses when they need to travel or temporarily relocate for a job."
Ø Incentives
The government also pledged that they would
double the annual budget for Union Training and Innovation Program to reach $50
million. To help address the labor shortage, Trudeau will open more avenues to
ensure the seamless entry of talented workers' into Canada.
Targeted incentives for low-income workers and
seniors might also be provided. There might be a hike in the support for
Canadians who enter the trade sectors and for reskilling programs.
Ø Investing in Gig Workers/
Self-Employed People
The government might also start a better
Employment Insurance system for gig workers and self-employed people. It might
also look into underrepresented groups to help create a more vibrant and
diverse workforce.
Ø Restoring Jobs
In August, the Prime Minister shared that he would
restore one million jobs by providing employment benefits. These jobs were lost
last year only.
Ø Vaccine Passport
Different provinces in the country have begun
mandating businesses to require proof of vaccination for their customers and
employees. The government also planned to allay the fears of private
organizations as they might need to fire unvaccinated employees. The government
will ensure that such businesses do not face any legal issues if they have to
fire unvaccinated employees.
Previously, Trudeau had stated that his
government would not force people to get vaccinated against COVID-19, but they
will "limit the privileges" of individuals who are reluctant to get
the jab.
Here's what
Liberals have promised for the third term.
Read about the Canadian economic performance here.
-by Shruti , CNS Canadian News Source
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