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Interior view of the Canada Commons of Parliament, Ottawa

Throne speech pledges prudence but says "this is not the time for austerity"

Parliament Hill building closeup in Ottawa, Canada

The throne speech also promised a revamp of the EI system

Interior view of the Canada Commons of Parliament, Ottawa

Wednesday's speech may give insight into the next phase of economic recovery

Canada and USA Flag

Americans in Canada who received U.S. payments won't need to include amounts in income

photo of hands holding pen under document and pressing calculator buttons

Employer and employee rates to remain unchanged for next two years

Parliament buildings at sunset

Changes to the social safety net will be detailed in a September throne speech and fall budget

The new finance minister has demonstrated her competence in various roles

Interior view of the Canada Commons of Parliament, Ottawa

Subsidizing wages for companies during the pandemic will cost $67.9 billion through the end of December

Interior view of the Canada Commons of Parliament, Ottawa

If the proposals are enacted, eligible Canadians would receive the payment automatically

Parliament Hill building closeup in Ottawa, Canada

The government had been under pressure to make the subsidy more accessible