Canada unveils $82 billion plan to help employers, citizens weather coronavirus
March 19, 2020 | 11:23 am CDT
Canadian Prime Minister Justin Trudeau has unveiled an $82 billion plan to support Canadian businesses and citizens during the coronavirus, or COVID-19.
$27 billion will be in direct support. $55 billion will be in tax deferrals for employers.
Here are some known specifics:
- $5 billion for workers who have been forced to stay home. They will receive money comparable to their usual pay every two weeks. The program will run for 14 weeks.
- To incentivize companies to keep employees on their payrolls, Ottawa will provide "small" employers a subsidy of up to 10 percent of salary for three months.
- Student loans will see no interest for six months
- An increase in child care benefit
- Workers who owe money on their tax returns will have until August to pay.
- $305 million for an Indigenous Community Support fund
- Doubling the homeless care program
The U.S. and Canada have agreed to temporarily close their shared border. But it will remain open for trade.
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