Prime Minister Justin Trudeau says the federal government will spend up to $82 billion on measures to support the Canadian economy through the COVID-19 pandemic.
According to Canadian Press, the money will come through a combination of direct supports for workers and businesses and tax deferrals.
“No matter who you are or what you do, this is a time you should be focused on your health and that of your neighbours – not whether you are going to lose your job, not whether you’re going to run out of money for things like groceries and medication,” Trudeau said from the steps of Rideau Cottage on Wednesday morning.
Trudeau announced $27 billion in “direct support” to Canadian workers and businesses and $55 billion in tax deferrals. The figure represents more than three per cent of Canada’s GDP.
For those who cannot access EI and do not have paid sick leave, Trudeau said Ottawa was bringing in the Emergency Care Benefit, a payment made every two weeks to workers who have to stay home.
“People will receive this benefit for 14 weeks for an amount comparable to what would be paid through EI,” he said. The money will go to those who get sick, who are quarantined, must self-isolate or need to take care of a family member with COVID-19.
Another benefit will apply to those who are self-employed and need to close up shop due to COVID-19.
Trudeau said small businesses will get a three-month wage supplement equal to 10 per cent of employee salaries, in hopes workers will be kept on the payroll.
Tax season is also deferred, Trudeau said, as people will have up to August to pay anything they owe.
Families will get a temporary boost to their Canada Child Benefit, Trudeau added.
Low-income Canadians will get up to extra $300 in their May GST refund, with up to $150 for each child. People paying off student loans will see their payments become interest-free for six months.
The homeless and domestic violence victims will see an increase in funding, he noted.
(Canadian Press)
Print this page
