2019 BUDGET: Liberals promise tax credit, EI benefit to help workers retrain

The moves are part of more than $1.7 billion in planned new spending over five years

Canadians could soon be able to put $250 a year toward upgrading their skills, and get help to pay their bills during dedicated time off, because of measures in today’s federal budget meant to help workers prepare for shifts in the labour market.

The moves are part of more than $1.7 billion in planned new spending over five years, and hundreds of millions more thereafter, although that appears to fall short of what the government has been told is needed to help workers make decisions about their careers.

The Liberals are proposing to give every Canadian worker earning between $10,000 and about $150,000 a year a $250 refundable tax credit for training that can be saved up over time, a plan that is expected to cost $710 million over the next five years.

READ MORE: As deficit grows, feds spend on job retraining, home incentives

The budget says the credit is expected to launch in late 2020 — possibly a year after this fall’s federal election — and will apply to the costs of programs at eligible universities, colleges and training institutions.

The government also says it plans to create a new employment-insurance benefit to cover up to 55 per cent of earnings for those who take time off from a job to attend a training program, which will cost $1.04 billion over five years.

The benefit could push up EI premiums — the Liberals are promising a break to some small businesses to offset the “upward pressure” on premiums as a result — but the actual costs won’t be known until EI rates are set later this year.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Kenney talks pipelines with Trudeau after election win, calls it cordial

Almost a year ago Kenney dismissed Trudeau as a dilettante and a lightweight

ELECTION DAY: Lacombe-Ponoka heads to the polls

Voters came out to the Lacombe Memorial Centre to pick the next MLA of Lacombe-Ponoka

‘Open for business:’ Jason Kenney’s UCP wins majority in Alberta election

The UCP was leading or elected in 63 of 87 seats Tuesday night

Undercover cops don’t need warrant to email, text suspected child lurers: court

High court decision came Thursday in the case of Sean Patrick Mills of Newfoundland

VIDEO: Trump tried to seize control of Mueller probe, report says

Special counsel Robert Mueller’s report revealed to a waiting nation Thursday

Alberta RCMP reminds Albertans how to be ‘egg-stra’ safe this Easter

Put away phone while driving, plan for a designated driver

B.C. awaits Kenney’s ‘turn off taps,’ threat; Quebec rejects Alberta pipelines

B.C. Premier John Horgan said he spoke with Kenney Wednesday and the tone was cordial

Federal government extends deadline to make Trans Mountain decision to June 18

The National Energy Board endorsed an expansion of the Trans Mountain pipeline on Feb. 22

Precautionary evacuation for Red Deer, Alta., residents due to industrial fire

City officials are advising people to close windows and doors and to turn off air intakes into homes

Study links preschool screen time to behavioural and attention problems

The research looked at more than 2,400 families

Most Read