The Canadian government has released $82 billion in relief for all Canadians and Canadian businesses.
$27 billion in direct supports and the other $55 billion to help Canadian businesses with liquidity through tax deferrals. The money will be handed out directly to individuals through existing Canadian safety net programs as well as employment insurance and Canada Child Benefits.
Canadian businesses are feeling the pinch already from shut downs, public fear and cancellations of programs.
The Canadian government is also thinking to extend the Tax filing deadline from April 30th to a later date.
The Canadian government is also thinking of invoking the Emergencies Act, which would give the government extraordinary powers to restrict movement. Regulate and distribute supplies during this Global pandemic.
This new announcement of $82 billion in relief will be on top of the $1 billion announced already to support Canadian businesses.