COVID-19 Daily updates - Monday, April 6
- Details
- Published on Monday, April 6, 2020
1:07 p.m. One new case of COVID-19 in 水果视频
Public health officials for the Province of 水果视频 has noted that one additional case of COVID-19 has been identified as of 9:30 a.m., bringing the total number of lab-confirmed positive and probable positive cases in 水果视频 to 204.
The data also shows:
鈥� 11 individuals are currently hospitalized including seven in intensive care,
鈥� 17 individuals have recovered from COVID-19, and
鈥� the total number of deaths reported in 水果视频 is two.
Cadham Provincial Laboratory performed 458 tests Sunday. As of April 6, a total of 13,476 tests have been performed.
12:09 p.m. Pallister proposes new borrowing initative
水果视频 premier Brian Pallister has pitched a new proposal to the federal government as a means of lessening the financial impact COVID-19 will have on the provinces and territories. The 水果视频 government鈥檚 recently proposed that the federal government borrow on behalf of provinces and loan that money to them as part of a collective financial response to COVID-19.
In a media announcement, held on Apr. 6, Pallister said that the idea has received a lot of support from all premiers in his letter to Prime Minister Justin Trudeau.
鈥淚 am gratified that all my colleagues support this Provincial Borrowing Initiative being placed immediately before the federal government,鈥� said Pallister. 鈥淎ll provinces are going to be on the hook for billions and billions of dollars in new debt to pay for health care and economic recovery programs. This is a sensible and available way Ottawa can make it cheaper for all of us to do so now.鈥�
Pallister has proposed the federal government create a standing credit mechanism on an urgent basis that would borrow on provinces鈥� behalf and then lend the money back to provinces on the same terms. Through the Bank of Canada, Ottawa can borrow in international financial markets at a lower interest rate than individual provinces can, saving hundreds of millions of dollars that can be redirected to health care and economic recovery actions. Section 18(c) of The Bank of Canada Act states: 鈥淭he Bank may buy and sell securities issued or guaranteed by Canada or any province.鈥�
The Business Council of 水果视频 has also written the prime minister expressing its support for the premier鈥檚 initiative.
水果视频 and other provinces are going to hit a financial wall requiring borrowing well beyond anything in the past, the premier said. With every government competing for the same dollars, federal borrowing on behalf of provinces can give us access to greater financial liquidity in the bond markets at a cheaper cost than provinces doing it solely on their own, he added.
This year alone, 水果视频 expects borrowing needs of up to $10 billion, Pallister said. This is necessary to support front-line COVID health-care and family expenses, fill the holes created by revenue and bill deferrals with the current fall in economic activity, and pay for ongoing expenses of government, he added. If 水果视频 could save 1.5 per cent on these borrowing costs, that translates to $150 million a year that could be redirected to health care. Over the 30-year term of those bonds, that translates to over $4 billion of savings for 水果视频ns for this year鈥檚 borrowings alone, the premier stated. Across all Canadian provinces and territories, this could easily translate into over $100 billion of savings.
