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

Northern Vancouver Island regional science fair winners – 2019

Daniel Kornylo won one of the 12 provincial science fair awards.

North Island Eagles select head coaches for upcoming season

“We appreciate the commitment each of you make to the club and to your teams”

Ribbon cutting ceremony at Hardy Bay Senior Citizens’ new greenhouse

“if it wasn’t for the volunteers this project wouldn’t have happened”

Port Hardy Pride Day will arrive in September

Port Hardy will be celebrating Pride Day on Sept. 14 at Carrot Park.

Woss man attacked by black bear on remote logging road

“we are just monitoring the situation now”

Feds lowered poverty line, reducing the number of seniors in need: documents

Liberals introduced a poverty line that was below the prior low-income cutoff

BCHL: Alberni Valley Bulldogs have been sold

Victoria company has purchased BCHL team, but will keep it in Port Alberni

“Does Kirby care?” B.C. First Nation’s group using geo-targeted ads in Houston, Texas for justice

The Heiltsuk Tribal Council has called out Kirby Corporation for the Nathan E. Stewart oil spill

Trudeau announces $79M investment for 118 more public transit buses across B.C.

Contributions from municipal to federal level to fund more buses in a bid to cut commutes

B.C. woman wins record $2.1 million on casino slot machine

‘That night was so surreal … I wasn’t able to sleep or eat for the first two days,’ she said

After B.C. dad’s death, Technical Safety BC wants changes to trampoline park rules

Jay Greenwood, 46, did ‘a series of acrobatic manoeuvres prior to a fall that caused serious injury and cardiac arrest’

Cars keyed on BC Ferries after alarms bother dog on board

Delta police arrested one passenger on suspicion of mischief

$900M settlement reached in class action on sexual misconduct in Canadian military

After facing criticism, the government moved to begin settlement proceedings in early 2018

Most Read