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

Sooke’s homeless reflect on housing situation

Ed MacGregor Park a new temporary home for Sooke’s homeless population

Langford approves permit for 124-unit mass timber building

Tallwood 1 to be completed by late 2021

Undercover operation exposes prominent human trafficking problem in Greater Victoria

VicPD’s Operation No More took place in mid-June at a local hotel

Book stores in Victoria notice uptick in sales for anti-racism titles

White Fragility, How to be an Antiracist are among the best selling titles

Victoria man in custody after shooting in 100-block of Gorge Road East

The man is facing recommended charges including assault with a weapon

‘This year is unlike any other’: Trudeau delivers Canada day address

Sophie Gregoire Trudeau and the Prime Minister release video celebrating the national holiday

Undercover operation exposes prominent human trafficking problem in Greater Victoria

VicPD’s Operation No More took place in mid-June at a local hotel

Tsilhqot’in Nation demands meeting with feds on declining Fraser River chinook stocks

The Nation wants to partner with DFO to rebuild and recover the stocks

Gov. General honours Canadians for bravery, volunteer service

Five categories of winners presented on Canada Day

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

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

‘A little bit scary for everybody’: Air passengers wary as new rules take effect

Masks or face coverings have been mandatory on flights since April 20

Library’s Summer Reading Club goes virtual

This literacy program is usually offered in person

VIDEO: Prince William and Kate chat with B.C. hospital staff about COVID-19

Seven-minute video posted to Youtube on Canada Day

Most Read