Prime Minister's plan to help mitigate the impact of COVID-19 on individuals and businesses in Canada
The Prime Minister of Canada announced today a stimulus package of up to $82 billion to help mitigate the impact of COVID-19 on individuals and businesses in Canada. Trudeau was very clear that these measures are not exhaustive and more initiatives will follow.
The following support programs were mentioned in the Prime Minister’s address. Some of these initiatives may help alleviate the pressure associations may experience from an employee support and business continuity perspective.
- Support programs for workers – Emergency Care Benefit, Emergency Support Benefit
- Temporary Canada Child Benefit increase
- GST relief
- Moratorium on repayment of student loans
- Doubling the funding of the Reaching Home program for homeless individuals
- Increased funding for shelters
- An Indigenous community support fund
- Extended deadline for those who have a CRA payment
- Business supports including tax deferrals and wage subsidy
BCFB will continue to keep the importance of the sector front and centre as we keep members informed.