The COVID-19 Emergency Response Act

On March 25, Parliament unanimously adopted the COVID-19 Emergency Response Act. This legislation implements a new set of economic measures to help stabilize the economy during this challenging period.

These measures will provide up to $52 billion in direct support to people and businesses, along with $55 billion in tax deferrals. Many of the provisions mirror proposals that the NDP has put forward.

However, we still believe that more money needs to flow to more people, faster. We also want wider protection for people, including a moratorium on rents, utilities, evictions and the elimination of interest on credit cards for at least two payment cycles.

We will continue to fight for the best protection available to help get Canadians through this public health crisis.

Support for people:

General support

Support for vulnerable groups

Support for seniors

Easing the rules for Registered Retirement Income Funds

Support for students and recent graduates

A 6 month interest-free moratorium on the repayment of Canada Student Loans

Support for businesses:

Avoiding layoffs

Access to credit

Supporting financial market liquidity

Launching an Insured Mortgage Purchase Program

More flexibility

Providing more time for businesses to pay their income taxes

For more information on how to access support visit: www.dondavies.ca/covid-19_support

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