National

Liberals pledge financial aid to sectors of economy hit hard by COVID-19

Darpan News Desk The Canadian Press, 17 Apr, 2020 06:01 PM

On Friday, the Liberals announced $1.7 billion to help clean up "orphaned wells" in oil-producing provinces, and a $750-million fund to cut methane emissions by providing loans to companies.

Speaking outside his Ottawa residence, Prime Minister Justin Trudeau said the government expects all the spending to maintain 10,000 jobs across the country in the oil sector as it faces plummeting prices from decreased demand and a glut of global supply.

Trudeau added the government is going to provide $962 million to regional development agencies to help more businesses, particularly those that don't have relationships with traditional financial institutions. And he promised hundreds of millions of dollars in support for the arts and culture industries.

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