The Prime Minister addressed the nation again this morning to pledge $82 billion to help Canadians struggling with the financial consequences of COVID-19.
"The measures we're announcing today will provide up to $27 billion in direct support to Canadian workers and businesses. Plus $55 billion to meet liquidity needs of businesses and households through tax deferrals to help stabilize the economy." he said while speaking outside Rideau Cottage. "Combined, this $82 billion in support represents more than 3% of Canada's GDP."
Here is a breakdown of what the money means for Canadians.
PEOPLE IN SELF-ISOLATION OR CARING FOR SOMEONE IN QUARANTINE
"Our government will introduce the Emergency Care Benefit. Which will provide money every two weeks to workers who have to stay home. People will receive this benefit for 14 weeks for an amount comparable to what would be paid through EI. This applies to people who fall ill, people who've been placed in quarantine or have to self-isolate. It also applies to those who have to take care of family member with COVID-19 but, as I said, fail to qualify for EI."
Trudeau also announced the COVID-19 Emergency Support Benefit to help people who lose their job but do not qualify for EI and people who are self-employed and are forced to close up shop.
SMALL BUSINESSES
"We will provide employers of small businesses with a temporary wage subsidy equal to 10% of salary paid to employees for a period of three months. This will encourage employers to keep staff on the payroll during these uncertain times."
PARENTS
A temporarily boost to the Canada Child Benefit
LOW INCOME
"In May our government will supplement the GST credit, a tax free payment sent to low income Canadians every few months to offset the consumer tax that they pay. Every adult who qualifies will receive up to $300 with $150 for every child."
STUDENT LOANS
Six month interest free moratorium on student loans
HOMELESSNESS PROGRAMMING
Doubling the 'Reaching Home Program'
DOMESTIC/GENDER BASED VIOLENCE
"We will boost funding for shelters that provide sanctuary when self-isolating at home is simply not an option."
INDIGENOUS COMMUNITIES
Establishing a distinctions based Indigenous Communities Support Fund