Government of Canada announces $27-billion in direct support to Canadians and business.
A further $55-billion to meet liquidity needs for businesses and households through tax deferrals
That’s an $82-billion package.
That’s 3% of GDP.
A further $55-billion to meet liquidity needs for businesses and households through tax deferrals
That’s an $82-billion package.
That’s 3% of GDP.
This aid package creates two new programs that will provide the equivalent of EI benefits to people who get sick, isolate, quarantine or provide care to sick family.
Also to people who lose their job or are self employed and don't qualify for EI.
So everyone is eligible for help
Also to people who lose their job or are self employed and don't qualify for EI.
So everyone is eligible for help
This aid package also offers a 10% wage subsidy to small business for up to 3 months so they can keep people on payroll.
There will also be a boost to the GST credit in May for low income earners (up to $300 per adult and $150 per child)
And in coming months the Canada Child Benefit will be increased.
Also if you owe taxes, no payment obligation until at least August.
And in coming months the Canada Child Benefit will be increased.
Also if you owe taxes, no payment obligation until at least August.
Student loans payments are suspended for 6 months. This grace period will also be interest free.
Ottawa will also boost cash to support for homeless shelters and for people in an unsafe domestic situation.
Ottawa will also boost cash to support for homeless shelters and for people in an unsafe domestic situation.
There's also an indigenous community support fund.
Export Development Canada and Farm Credit Canada will have more resources to support those sectors.
More for vulnerable sectors coming soon.
Export Development Canada and Farm Credit Canada will have more resources to support those sectors.
More for vulnerable sectors coming soon.
This is a lot. We are processing it all in real time. Will post more details as we get them.
Also, this $82-billion is on top of the $10-billion announced last week in credit for small and medium sized businesses.
Also also -- this is just the start. $92-billion in total measures in less than a week is nowhere near the end of it.
Also also -- this is just the start. $92-billion in total measures in less than a week is nowhere near the end of it.
Also also also -- these measures run at minimum 12-14 weeks.
So that should give you a sense of how the government is viewing the minimum duration of all of this.
So that should give you a sense of how the government is viewing the minimum duration of all of this.
Finance Minister says people can enrol for the new EI-like measures online through direct deposit.
People with covid-19 or isolating etc will only have to provide an attestation. No medical documentation required. Trying to make it easy.
People with covid-19 or isolating etc will only have to provide an attestation. No medical documentation required. Trying to make it easy.
