Emergency legislation to inject billions of financial assistance for Canadian workers, families and businesses is now law after approval in the Senate.
Finance Minister Bill Morneau says the package now totals $107-billion as the initial $27-billion in direct support is being nearly doubled to $52-billion.
”On top of that there’s $55-billion in tax deferrals that we’ve said are there because neither individuals nor corporations will be forced to pay their income tax before August 31,” Morneau added.
A just announced, new, combined benefit – the Canada Emergency Response Benefit – will provide $2,000-a-month for up to four-months.
Morneau says it should be simpler to administer and should start reaching workers on April 6.