The federal government is expected to announce it will help steel producers by cutting shipping costs by 50 per cent for moving product within Canada. Ottawa will work with the Canadian National Railway (CN) to lower freight costs, and if the lowest rate cannot apply, the federal government will help pay the difference, the source told CTV News.
The Carney government will also increase the total money available to struggling softwood lumber companies to $1.2 billion. It’s a $500-million increase from the previously announced Softwood Lumber Development Program, which gives companies access to government-backed loans.