The prime minister announced more funding for the energy sector and for arts, culture and sports on Friday.
Prime Minister Justin Trudeau announced $1.7 billion in funding to clean up orphan oil and inactive wells in Alberta, Saskatchewan and B.C.
“Both the devastating effects of the pandemic and the price war driven by foreign interests, are a challenge. As a result, companies have had to slow down or pause their operations, leaving too many people out of work,” he said.
Trudeau said these unused wells can be detrimental to the environment and people’s health and cleaning them will bring people back to work.
He said the goal is to create immediate jobs while helping companies avoid bankruptcy and maintain environmental goals.
Trudeau also announced $750 million for an emissions reduction fund including $75 million for Newfoundland and Labrador to reduce emissions from offshore production.
In the small business sector, the prime minister announced $962 million would be sent to regional development agencies to help those businesses still falling through the cracks.
“This funding will help ensure that more businesses especially smaller employees based in more rural parts of the country or those who don’t have a relationship with a traditional financial institution are getting the support that they need,” he said.
Trudeau also announced that funding of $270 million will be sent to Futurpreneur and the industrial research assistance program.
He said this funding will support innovators and other early-stage development firms that don’t qualify for the wage subsidy but still need help.
A funding announcement of $500 million is to be sent to support artists, creators and rising sports stars through Heritage Canada.
Trudeau said artists have been bringing comfort, laughs, and happiness into our lives while athletes continue to inspire us while we’re all isolated at home.
“People and businesses in these sectors do not have access to some of the help we’ve announced because of how the companies operate, or how revenues are generated.”
Trudeau said those who work in the areas of arts, culture, and sports are sharing their passion with us and make us dream.
He said thanks to these funds, these people will receive wage support if they have cash flow problems.
