Trudeau announces $82 billion in COVID-19 relief

Prime Minister Justin Trudeau unveiled an $82 billion emergency response package this morning to help support Canadian business, provide income support and tax deferrals during the COVID-19 pandemic.

The package also includes a wage-subsidy for small-business owners to help keep staff on the payroll during the slowdown.

Any Canadians who learn they owe taxes will now have until August 2020 to pay them.

The federal government is also planning to boost the Canada Child Benefit to help parents cover the cost of child care.

Other measures include a GST credit for low-income Canadians, boosting support for shelters to help those escaping gender-based violence and a six-month moratorium on student loan repayments.

Trudeau also says the Liberal government is going to provide $27 billion in direct support to Canadian workers and businesses to help them get through the economic crisis sparked by the COVID-19 outbreak.

$55 billion will also be allocated to help Canadians meet liquidity needs through tax deferrals.

There will be an emergency care benefit for those who fall ill, need to self-isolate or have to take care of family members with COVID-19 but fail to qualify for employment insurance.

There will be an emergency support benefit for those who lose their jobs and don’t qualify for EI. This includes self-employed workers who are forced to close their businesses due to the outbreak.

Click here for a complete run: Canada’s COVID-19 Economic Response Plan