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:
- Introducing the Canada Emergency Response Benefit
- Increasing the Canada Child Benefit this year
- Extra time to file income taxes
- Mortgage support
- Improved access to the Employment Insurance Sickness Benefit
- Increased goods and services tax credit this year
Support for vulnerable groups
- Enhancing the Reaching Home initiative
- Supporting women’s shelters and sexual assault centers
- A new Indigenous Community Support Fund
Support for seniors
Support for students and recent graduates
Support for businesses:
Access to credit
- Establishing a Business Credit Availability Program
- Lowering the Domestic Stability Buffer
- Expanding the Canada Account to provide additional access to loans, guarantees and insurance policies
- Increased credit available to farmers and the agri-food sector through Farm Credit Canada
Supporting financial market liquidity
For more information on how to access support visit: www.dondavies.ca/covid-19_support