$27 billion will go directly to Canadians.
With the Coronavirus wreaking havoc in the Canadian economy, PM Justin Trudeau has unveiled a massive economic aid package.
The package is $82 billion in total, about 3% of Canada’s total GDP.
$27 billion will go towards direct funding to Canadians, while $55 billion will go towards ensuring business have liquidity.
“No matter who you are or what you do, this is a time where you should be focused on your health, and that of your neighbours, not whether you’re going to lose your job, not whether you’re going to run out of money for things like groceries and medication.”
Here’s what’s in the package:
- Emergency Care Benefit – giving up to $900 biweekly for up to 15 weaks, for workers who are having to stay home and can’t get paid sick leave or employment insurance.
- Six month reprieve on student loan payments, with no interest.
- Doubling funding for the homeless care program.
- Taxpayers able to defer tax payments due after today until after August 31.
- $305 million for a fund to support Indigenous Communities, many of which have severe housing shortages and lack of healthcare facilities.
- GST credit for low-income Canadians.
- Support for homeless Canadians, and support for shelters that protect victims of domestic violence.
- Increasing the Canada Child Benefit payment by roughly $2 billion in total.
You can learn more at the Government Link below:
Photo – YouTube