Excerpt from Financial Post by Stefanie Marotta
The pandemic-battered travel and tourism industries will receive about $1.5 billion in targeted support from the federal budget as the Trudeau government attempts to boost jobs and revive the economy.
The two sectors have been among the hardest hit due to restrictions and closures to help prevent the spread of COVID-19, with events cancelled and planes grounded. To help revive the beleaguered industries as the pandemic unwinds, the federal budget earmarked $1 billion for the tourism industry and $465 million dollars for air travel and airports.
“It means providing support where COVID has struck hardest — to women, to young people, to low-wage workers, and to small and medium-sized businesses, especially in hospitality and tourism,” Finance Minister Chrystia Freeland said on Monday.
The budget includes $82.5 million this year for Transport Canada to help large Canadian airports invest in COVID-19 testing infrastructure, with an additional $105.3 million over five years to develop touchless and secure air travel technology with international partners. The Canadian Air Transport Security Authority will also receive $6.7 million to purchase sanitization equipment.