Canada’s latest budget makes big commitments to the social impact world. Here’s what you need to know.
Why It Matters
Social impact organizations have watched with alarm as the pandemic saps the livelihoods, food access, educational opportunities, jobs, and medical needs of Canadians — as well as their own capacity. Canada’s federal budget promises massive investments to correct that.
The words “social impact” never left Deputy Prime Minister Chrystia Freeland’s mouth as she tabled the 2021 federal budget in Ottawa on Monday afternoon, but the sector’s priorities feature prominently in her government’s spending promises for the coming year.
Social impact leaders were dismayed at their lack of representation in last year’s Throne Speech and fall economic statement, two proto-budget documents that made big promises on climate, employment, and EI reform policy, but barely mentioned the sector at all. That is no longer the case for the 739-page federal budget released on April 19.
It includes major spending commitments on a national child care policy, promises to create up to a million new jobs across Canada by the end of 2021, and concrete details on the launch of the Social Impact Fund — not to mention new philanthropic funding for Bl
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