Prime Minister Justin Trudeau says the federal government is looking at ways to help vulnerable Canadians as well as small businesses and workers cover their bills should their lives be upended by COVID-19. (The Canadian Press)

Direct financial help coming for Canadians affected by COVID-19, Trudeau says

He says help would be targeted to vulnerable Canadians

Prime Minister Justin Trudeau says the federal government is looking at ways to get money directly into the pockets of Canadians so they can cover their bills should their lives be upended by COVID-19.

He says help would be targeted to vulnerable Canadians, as well as help to small businesses and workers who see disruptions in their earnings.

The heft of the stimulus package will likely come out this afternoon when Finance Minister Bill Morneau addresses reporters.

Trudeau says the government’s focus is on ensuring that Canadians have the resources and money they need to not have to stress about rent and groceries if they can’t go to work.

ALSO READ: Trudeau promises $1 billion for COVID-19 research, resilience

Private-sector economists warn that Canada is heading into a recession because of the economic shock of COVID-19, which may only be avoided with hefty stimulus spending from the federal government — as much as $20 billion, or roughly one per cent of GDP.

In an interview Friday, parliamentary budget officer Yves Giroux said the novel coronavirus has made the short-term economic picture far bleaker than it was just a few weeks ago, especially when coupled with a sudden drop in oil prices.

The Liberals had promised to deliver a budget on March 30, but the House of Commons has now agreed not to sit until late April to prevent the spread of the novel coronavirus disease.

The government needs to reassure the workers and businesses with concrete measures that even if not announced are at least promised to avoid steep losses and address the uncertainty that is roiling the economy, Giroux said.

ALSO READ: Sophie Gregoire Trudeau tests positive for COVID-19 — PMO

“The magnitude of these support measures are very hard to tell,” he said. A package of $20 billion isn’t “unreasonable,” Giroux added: “It depends on what the government wants to shield the economy from.”

In a separate report, Giroux’s office estimated that last month’s rail blockades will shave two-tenths of a percentage point off economic growth for the first quarter, with the effects dissipating through the rest of 2020.

The rail blockades sprung up in solidarity with Wet’suwet’en hereditary chiefs in B.C. who oppose a natural-gas pipeline through their traditional territory.

The Canadian Press

Like us on Facebook and follow us on Twitter

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

COVID-19: Should non-medical masks be mandatory in Canada?

New poll shows Canadians are divided on the rules around mandatory masks

Rosslanders celebrate Canada Day in style

Locals organized a museum scavenger hunt, a Mt. Roberts flag-raising ceremony and evening fireworks

Hwy 1 flooding causes massive delays on certain Arrow Lakes ferry routes

Motorists have been waiting around three hours to get on ferries

Rossland Museum and Discovery Centre expands operations online

The facility also opened back up to the public earlier in June

Rossland’s Sourdough Alley a ‘muddy collection of shacks’

Rossland’s earliest thoroughfare was once derided as a ‘muddy collection of shacks’

B.C. accommodators need phone lines to light up as in-province travel given green light

Travel restrictions during the COVID-19 pandemic have decimated the tourism and hospitality industries

Man charged in Rideau Hall crash had rifle, shotguns, high-capacity magazine: RCMP

Hurren is accused of threatening to cause death or bodily harm to the prime minister

B.C. extends income assistance exemption for COVID-19

Provincial program to match Ottawa’s CERB, student pay

Broadway veteran Nick Cordero dies from coronavirus complications

During Cordero’s hospitalization, Kloots sent him daily videos of her and their 1-year-old son, Elvis,

Northern communities welcome tourists as province opens to in-B.C. travellers

Officials have asked British Columbians to be careful as they travel this summer

300 Cache Creek residents on evacuation alert due to flood risk as river rises

Heavy rainfall on Canada Day has river rising steadily, threatening 175 properties

First glimpse of Canada’s true COVID-19 infection rate expected mid-July

At least 105,000 Canadians have tested positive for COVID-19 since the coronavirus was identified

Most Read