Canada will spend big to combat coronavirus, says now is not the time for austerity
By David Ljunggren and Steve Scherer OTTAWA (Reuters) - Canada's Liberal government on Wednesday promised major new investments and policy initiatives to help the country recover from the coronavirus pandemic, saying 'this is not the time for austerity'. The administration of Prime Minister Justin Trudeau, which has already unveiled hundreds of billions of dollars in aid for people and businesses, said it would launch a plan to recover more than a million jobs.
By David Ljunggren and Steve Scherer
OTTAWA (Reuters) - Canada's Liberal government on Wednesday promised major new investments and policy initiatives to help the country recover from the coronavirus pandemic, saying "this is not the time for austerity".
The administration of Prime Minister Justin Trudeau, which has already unveiled hundreds of billions of dollars in aid for people and businesses, said it would launch a plan to recover more than a million jobs.
The government made the commitments in the so-called Speech from the Throne, in which it formally outlined its plans.
One major element "is supporting people and businesses through this crisis as long as it lasts, whatever it takes", the government said, adding it would be guided by values of sustainability and prudence.
The range of promises and mentions of significant investments could upset markets showing signs of nervousness about a sharp rise in budget deficits and debt. Canada lost one of its coveted triple-A ratings in June when Fitch downgraded it for the first time, citing the spending.
The government also said it was sticking to the goal of fighting climate change and promised money to retrofit buildings and make zero-emissions vehicles more widely available.
(Additional reporting by Julie Gordon in Ottawa; Editing by Jonathan Oatis, Tom Brown and Chizu Nomiyama)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.