Pin It
Favourite

Thursday, March 19, 2020

Trudeau announces $82 billion in emergency aid for Canadians

Posted By on Thu, Mar 19, 2020 at 10:51 AM

click image VIA INSTAGRAM @JUSTINPJTRUDEAU
  • VIA INSTAGRAM @justinpjtrudeau

On Wednesday Prime Minister Trudeau announced a combined $27 billion in emergency funding and $55 billion through tax deferrals to get Canadians through COVID-19.

“No matter where you live or who you are, you will get the support you need during this time,” he said from outside his home at Rideau Cottage in Ottawa.

Up to $15 billion of this funding comes in the form of enhanced benefits programs. Trudeau announced an Emergency Care Benefit for those who are in self-isolation but don’t have paid sick leave or don’t qualify for Employment Insurance (EI) sickness benefits, or people who are taking care of sick family or children who are off school.

“There are many families across this country who are looking at their sources of income drying up because of COVID-19,” he said. “Many workers do not qualify for EI, therefore we are putting in place exceptional measures that will flow money to them every two weeks.”

The new program will provide up to $900 biweekly for a 14-week period. Another fund–called the Emergency Support Benefit–will provide funding for unemployed workers who don’t qualify for regular EI benefits like servers and part-time workers.

“This will apply also to people who are self-employed and have to close shop because of the virus,” he said. Trudeau said both benefits programs would be available starting in April.

Other measures were announced for small businesses, including a commitment to provide 10 percent of employees’ wages, as a temporary subsidy for the next three months, up to a maximum of $1,375 per employee and $25,000 per employer.

“This will encourage employers to keep staff on the payroll during these uncertain times,” said Trudeau. The Prime Minister also said that Export Development Canada and Farm Credit Canada were also providing financial support to their industries.

For parents, the Canada Child Benefit will see an increase in the coming months, totalling $2 billion.

“Families with young kids are going to find the coming months especially difficult with school closures and additional child care responsibilities,” Trudeau said.

The Prime Minister told reporters that Canadians who are most in need will also be given extra support. The GST supplement provided to low-income Canadians will be supplemented in the month of May.

“Every adult who qualifies will receive up to $300, with $150 for every child,” said Trudeau.

He also said there is additional funding going towards Indigenous communities and to homeless Canadians through the Reaching Home Program.

click image The total cost and implementation timeline of Canada’s Economic Response plan to COVID-19. - VIA CANADA.CA
  • VIA Canada.ca
  • The total cost and implementation timeline of Canada’s Economic Response plan to COVID-19.

For people with federal student loans in repayment, Trudeau said a six-month moratorium would be placed on repayment, with no interest buildup in the meantime.

The federal tax season has also been extended, and Canadians have until June 1 to file their taxes, and until August 31 to pay if they owe money.

In total, the injections into the economy could total $82 billion, but the government is expected to make even more announcements in the coming days as the COVID-19 pandemic continues.

“In a number of weeks, or a number of months, or however long it takes, once we get rolling again, the capacity of the federal government to invest in the economy, to support businesses and individuals, will ensure that we bounce back strongly,” said the Prime Minister.

For full details on Canada’s COVID-19 economic response, click here.








Come back here or check with NS public health for the latest reliable updates. In the meantime, wash your hands, cover your cough, wipe commonly used surfaces and stay home if you feel sick.

Support The Coast

At a time when the city needs local coverage more than ever, we’re asking for your help to support independent journalism. We are committed as always to providing free access to readers, particularly as we confront the impact of COVID-19 in Halifax and beyond.

Read more about the work we do here, or consider making a voluntary donation using the button below. Thank you for your support!

Survey Asks

These are...

  • Trying times
  • Challenging times
  • Difficult times
  • Unprecedented times
  • Changing times
  • Exceptional times

View Results

Comments

Subscribe to this thread:

Add a comment

Remember, it's entirely possible to disagree without spiralling into a thread of negativity and personal attacks. We have the right to remove (and you have the right to report) any comments that go against our policy.

Coast Top Ten

COVID-19

More »

COVID-19

More »

City

More »

In Print This Week

Vol 27, No 43
March 19, 2020

Cover Gallery »


Real Time Web Analytics

© 2020 Coast Publishing Ltd.