The government of Canada has created various programs to support Canadians and business facing the effects of the COVID-19. The programs are divided in 3 sectors: Individuals, Business and Industries
There are programs to support individuals and families, who are facing cuts or totally loss of income, as well as special sectors of the public:
- Increasing the Canada Child Benefit
- Special GST credit payment
- deferral on tax payments
- Support on mortgage payments
- Canada Emergency Response Benefit (CERB)
- Indigenous Community Support Fund
- Supporting Preparedness in First Nations and Inuit Communities
- Improving access to essential food support
- Enhancing the Reaching Home Initiative
- Youth support: mental health.
- Reduced minimum withdrawals for Registered Retirement Income Funds
- Supporting the delivery if items and personal outreach
- Immediate and essential services through the New horizons for Seniors Program
- Suspended repayment and interest on Canada Student Loans and Canada Apprentice Loans
- Temporary Changes to Canada Summer Jobs programs.
To support business the government is focusing on:
- Avoiding layoffs and rehiring employees
- Deferred payments
- Access to Credit
- Supporting Financial Stability
- Supporting self-employed individuals
For special details on each program I'm sharing with you the CFIB reports and FAQ that covers all these aspects in a really detailed and easy to read way: https://www.cfib-fcei.ca/en/small-business-resources-dealing-covid-19
Related to industries, the programs are focusing on:
- Increasing credit available for agriculture, fisheries and aquaculture
- support for airports
- support for broadcasters.
Photo by Nathaniel Bowman on Unsplash
