Terry Fox on the $5, big money for the border — what we learned from the economic statement

The Liberal government has recently unveiled a fall economic statement, detailing $21.1 billion in new spending. This includes significant investments in border security and the promised GST tax break. However, the statement also includes several lower-profile policy and spending decisions that are worth noting. Here are five key points from the economic statement:

1. **Combatting Auto Theft:** The government is taking steps to address the issue of auto theft in Canada, with an estimated 90,000 vehicles reported stolen annually. The Canada Border Services Agency has reported a decrease in thefts in 2024, but the government recognizes the importance of continued efforts to combat this issue. The economic statement includes measures such as amending the Criminal Code to strengthen bail and sentencing laws, as well as allocating $1.3 billion to enhance border security and crack down on trafficking in stolen vehicles, drugs, and guns.

2. **Terry Fox on the $5:** A notable change highlighted in the economic statement is the decision to feature Canadian hero Terry Fox on the new $5 bill. This tribute honors Fox’s Marathon of Hope and his dedication to raising funds for cancer research. Former Prime Minister Sir Wilfrid Laurier will be moved from the $5 bill to the next version of the $50 bill.

3. **Women’s Reproductive Health:** The government has announced funding of $90 million over six years, with an additional $20 million per year thereafter, to improve access to abortion and reproductive health services. This investment aims to address limitations in access to sexual and reproductive health services, particularly in under-served communities. The funding will support community-based organizations in expanding access to essential healthcare services.

4. **Divesting Air Canada Stock:** Amidst the challenges faced by the airline industry during the pandemic, the government had previously invested in Air Canada to ensure its survival. The economic statement reveals that the government has sold its $500 million equity stake in the airline for $543 million, resulting in a profit of $125 million. Additionally, Air Canada is expected to repay the outstanding loan balance by 2028.

5. **No Sign of $250 Cheques:** Despite earlier promises by Prime Minister Justin Trudeau to provide $250 rebate cheques to eligible taxpayers, the economic statement does not mention this measure. The decision to exclude the cheques from the legislation has raised concerns, particularly among those who feel marginalized by the government’s relief efforts.

Overall, the fall economic statement outlines a range of important initiatives and investments by the Liberal government. From addressing auto theft and enhancing border security to honoring Canadian icons like Terry Fox, the statement reflects the government’s priorities and commitments to supporting key sectors and initiatives.