As a way to restore the economy, the Canadian government has announced new measures to support the business programs against the Covid 19 pandemic.
New Measures To Support A Robust Recovery
As per the reports, the Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland spoke to the media on Thursday. He informed that the new measures are to invest about C$7.4 billion between October 24 and May 7, 2022. The amount will be used in the areas that require robust recovery.
Freeland further noted Canada is following a new phase following the darkest days of the Covid 19 pandemic. He said that they are following a pretty broad based support that would be appropriate at the height of their lockdown to more targeted measure that will provide help.
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The Canada Recovery Benefit (CRB) will be replaced by the Canada Worker Lockdown Benefit for the ones whose work was directly impacted by the government-imposed lockdowns. The program will provide C$300 a week to eligible workers until May 7, 2022.
Freeland further informed that there are still chances of temporary lockdowns in the upcoming months. But they want Canadians to know that they intend to put measures in place that would snap into action immediately.
Government Has Spent C$27 Billion
As per the latest reports, up until October 10, the government has paid out around C$27 billion to more than 2 million CRB applicants. Freeland also announced that they will be implementing two other programs to help the hard-hit sectors which would replace the wage and rent subsidies.
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The two programs include the Tourism and Hospitality Recovery Program and the Hardest-Hit Business Recovery Program expiring on November 20. Freeland said that the government is proposing an extension of the same until May 7, 2022.
