Just recently, the Liberal government tabled its 2019 federal budget.
As one would expect, this featured a lot of items many of which are expected to have far-reaching impacts on the trucking and logistics industry as a whole. This has attracted our interest here at Byexpress Logistics and as a stakeholder in the industry, we decided it will make sense to discuss what this means to the industry.
Trucking HR Canada, THRC did a thorough evaluation and compilation of some of the items of interest in regard to the logistics industry. It appears the new budget would change certain areas of operation in the trucking industry especially in the human resources sector, from training to youth, pay equity, and gender/diversity, among others.
Training Benefit
The budget made provision for about $1.7 billion in training benefit spread over a period of five years.
Canadians within the age range of 25 to 64, earning anything from $10k to $150k will be provided a non-taxable training credit of $250 up to a maximum of $5k. As it is, this will greatly improve public access to training for Canadians of all ages.
Additionally, Skills Canada is set to receive $40 million over the next four years which is intended to help promote skills trades to young Canadians. This also includes some $6 million set aside for a national campaign over the next two years, to promote skills trades as first-choice careers.
It’s high time the trucking industry make bold moves towards injecting more young people into the workforce. This budget clearly presents an opportunity for businesses in the trucking industry and here at Byexpress Logistics, we believe the time is ripe now for businesses in the industry to start seeking partnership opportunities.
Gender and Diversity
The Economic and Social Development Canada, ESDC, the government department responsible for social programs and the labor market will also receive $5 million over the next five years. This will be used to develop strategies that will better help the department monitor gender disparity and underrepresentation of certain groups to improve their participation in the labor force.
We can expect to feel the impact of this over time in the trucking industry which has been traditionally perceived to be less accommodating and suitable for females.
Youth inclusion
We are also on course for the launch of a newer Youth Employment Strategy for which $49.5 million have been budgeted for over the next five years. Here at Byexpress Logistics, we believe this new funding opportunity is a great opportunity for businesses in the trucking and logistics industry to attract young talents.
At BYEXPRESS Logistics, we are ever committed to helping businesses and individuals identify better logistics solutions that will make a difference in their supply chain.
Much of these boil down to our partnership with some of the best carriers there are in the industry. It’s a world of difference and endless opportunities.
You can log on our website at www.byexpress.com for free quotes and competitive rates or contact us at info@byexpress.com for more info.
