Summary From Prime Minister Trudeau’s Address

  • $27B of direct support for Canadian businesses
  • $55B to meet liquidity need through tax deferrals
  • $82B combined support ( =3% of Canada’s GPD)
  • For people without access to paid sick leave:
  • ‘Emergency Care Benefit’, paid for 14 weeks, comparable to EI, applicable to most illness-related or quarantine stay-at-home needs
  • For people without access to EI:
  • Emergency Support Benefit for everyone that loses their job but don’t qualify for EI. Will also apply to self-employed workers.
  • Will provide employers and small businesses a temporary wage subsidy of 10% of all wages for 3 month period (to help keep employees)
  • For taxes: New deadline of August 2020 to pay any taxes owed. Also working on more targeted assistance in coming months for specific groups of individuals.
  • Families with young children: Will temporarily boost the Child Care Benefit in the coming months.
  • Lower-Income Individuals: Supplement the GST credit, to offset the consumer tax they pay. Qualifying adults, will receive $300 + $150 per child
  • 6-month interest-free moratorium for student loans
  • For those in situations of domestic or gender-based violence, provide funds for sanctuary where isolating at home is not an option
Additional measures for businesses:
  • EDC will provide support to Canadian companies
  • For Farmers and food producers: Boosting Farm Credit Canada
  • Exploring opportunities to help all businesses through ‘The Canada Account
Isabelle Foley

Isabelle Foley

As Director of Member Success I strive to help members connect and get the most out of their chamber membership. I am an advocate for local businesses and passionate about spotlighting our community's success. Join the growth!


Stay up to date on the latest by subscribing to our newsletter

Related articles
Exterior Photo of Hearth Place Support Centre Oshawa

Feature Friday: Hearth Place Support Centre

In the heart of Oshawa, the Hearth Place Cancer Support Centre stands as a beacon of hope, providing unwavering support to individuals and families touched by cancer. Founded on the principles of compassion, knowledge, and hope, Hearth Place offers a

Read More »