A breakdown of Canada’s $82B COVID-19 emergency response package
Via CNNVia Bill Morneau / Twitter
If you didn’t catch it live this morning, Canadian Prime Minister, Justin Trudeau has unveiled an $82 billion COVID-19 emergency response package. This “extraordinary measure” is meant to help struggling Canadians affected by the pandemic.
This extensive emergency aid plan will include a temporary $2 billion boost to Canada’s existing Child Benefit payments, and a new Emergency care Benefit for workers or the self-employed who don’t qualify for paid sick leave or employment insurance. This will see that payees receive up to $900 bi-weekly, for up to 15 weeks to keep them afloat.
The government has also introduced a new Emergency Support Benefit. This will provide up to $5 billion in support for those who are not eligible for EI and are facing unemployment.
The announcement also brought good news to those paying off their student loans. The government has enforced a 6-month, interest-free reprieve!
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As for the upcoming tax season, Trudeau said they would be extending the filing deadline to June 1st and will allow taxpayers to defer payment until after August 31st. So that’s good, right?
In addition to all of this, they will also double the homeless care program and have set aside $305 million for a new Indigenous Support Program.
“No matter who you are or what you do, this is a time where you should be focused on your health,” Trudeau said during a press conference, “not whether you’re going to run out of money for things like groceries and medication.”
This morning’s announcement comes after the government pledged an additional $2 billion to COVID-19 emergency response funding for businesses and improving public health measures. This will fund vaccine research and development and medical supplies. Thank goodness! Bring on that vaccine, our bodies are ready.
