#CanadaPM; #JustinTrudeau; #$82BillionAidPackage; #COVID19Pandemic; #EmergencyAidPlan
Ottawa, Mar 18 (Canadian-Media): In the wake of the widespread of deadly COVID-19 pandemic in Canada, a huge $82-billion aid package -- representing more than three percent of Canada's Gross Domestic Product (GDP) -- was announced Wednesday by Canada's Prime Minister Justin Trudeau to help Canadians and businesses, including income supports, wage subsidies and tax deferrals, media reports said.
Justin Trudeau. Image credit: Official website
$27 billion of the package would be allocated to direct support and $55 billion would go towards helping business liquidity through tax deferrals.
Supports could start flowing in weeks, said Trudeau.
The emergency aid plan includes: $2 billion to temporarily boost Canada Child Benefit payments; up to $900 biweekly for 15 weeks amounting to allocated to new Emergency Care Benefit to support workers who have to stay home and not have access to paid sick leave; a six-month, interest-free reprieve on student loan payments; doubling the homeless care program; extending the tax filing deadline to June 1; allowing taxpayers to defer tax payments until after Aug. 31 amounts that are due after today and before September.
Trudeau is confident of full support from opposition political parties for passing of the measures in Parliament.
It was disclosed by a senior government official to CBC News that some of the money, including employment insurance and the Canada Child Benefit, will be delivered directly to individuals through existing safety net programs.