Justin Trudeau has detailed forthcoming aid for Canadians in response to the coronavirus pandemic. Part to the $82 billion that the country will be investing in aid for Canadians includes a six-month moratorium on student loans. This moratorium will be interest-free, according to the Toronto Star.
MORE: Six-month moratorium on student loans, Trudeau adds. The latest here: https://t.co/jzJYQQjjRO
— Toronto Star (@TorontoStar) March 18, 2020
Additionally, the government of Canada will be offering a bi-weekly benefit of $900 to anyone unable to work because of the COVID-19 outbreak.
— Travis Dhanraj (@Travisdhanraj) March 18, 2020
Trudeau also announced that there would be more help for the homeless and other vulnerable people, including victims of domestic violence who are unable to self-isolate at home. Wage subsidies are set to be provided to businesses to help keep employees on the payroll, income tax deadlines will be extended to august, and child care benefit will be boosted for families
This all comes as part of Trudeau’s $82 billion rescue package, which will include $10 billion in credit to businesses to help them “bridge” the difficult times.
On top of all of this, banks will also be allowing mortgage payments deferrals.