Prime Minister announces more support for workers and businesses through Canada’s COVID-19 Economic Response Plan

Image Source: CBC News

Date Published: March 18, 2020

The Canadian government has created a COVID-19 Economic Response Plan totalling $82 billion to support Canadian workers, households, and businesses. Approximately one third will directly support workers and businesses while the other two thirds will be through tax deferrals. The support for workers include boosting Canada Child Benefit payments, providing income support to the unemployed, moratoriums on Canada Student Loan payments, and extensions for tax payments to after August 31. Businesses will be supported through extension of tax deadlines, mortgage payment aid, wage subsidies and increasing credit for small businesses.

Read the full announcement here:

Summary by: Grace Xu