© Reuters. FILE PHOTO: Canada’s Finance Minister Chrystia Freeland speaks to information media in Ottawa
OTTAWA (Reuters) – The COVID-19 pandemic and its damaging impact on women has underlined the need for a national childcare program, which might also help the economic recovery, Finance Minister Chrystia Freeland stated on Thursday.
Since taking up her job in August, Freeland has spoken about a”feminist agenda,” and has said childcare will be a part of a stimulus package worth around C$100 billion ($79.6 billion) more than three years. She’ll unveil details within her April 19 budget.
“I really believe COVID-19 has created a window of political opportunity and maybe an epiphany… on the importance of early learning and childcare,” Freeland informed a online convention of Canada’s ruling Liberal Party.
The funding is set to be a springboard for a election that Liberal insiders say is probably in the second half of the year.
Canadian governments of different stripes have mused about a national childcare program for decades but not acted, thanks in part to this price and also the need to work out a deal with the 10 provinces, which provide many social programs.
Freeland stated a childcare program would help counter”an incredibly dangerous drop” in female employment since the onset of the pandemic.
“It is a surefire way to drive jobs and economic growth … you have higher participation of women in the labor force,” Freeland said. “My hope … is that being able to make that economic argument as well is going be to one of the ways that we get this done.”
Freeland, who’s taking part this week at meetings of the Group of Seven major industrialized nations and the International Monetary Fund, stated U.S. Vice President Kamala Harris and Treasury Secretary Janet Yellen had informed her they watched early learning and child care for a driver for economic recovery.
($1=1. ) 2560 Canadian dollars)
Disclaimer: Fusion Media would like to remind you that the data included in this website isn’t necessarily real-time nor accurate. All of CFDs (stocks, indexes, futures) and Forex prices are not supplied by exchanges but rather by market manufacturers, and so prices might not be true and may differ from the actual market cost, meaning prices are indicative rather than appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you could incur as a result of using this data.
Fusion Media or anybody involved with Fusion Media won’t accept any liability for damage or loss as a result of reliance on the data such as data, quotes, graphs and buy/sell signals contained in this site. Please be fully informed regarding the risks and costs related to trading the financial markets, it’s one of the riskiest investment forms potential.