Today the House of Commons passed Bill C-13 which puts Canada’s new Emergency Response Plan into action.
The Emergency Response Plan provides immediate support to Canadians and businesses who are in need of assistance as a result of COVID-19.
These measures include:
✅Emergency Response Benefit: Providing $500 per week to Canadians experiencing loss of income due to COVID-19. This is a simpler and benefit which will replace the Emergency Care Benefit and the Emergency Support Benefit announced last week.
✅Increase the Canada Child Benefit by $300 per child for the 2019-20 benefit. Eligible families well receive the extra amount with their May payment.
✅Provide a special payment under the GST credit for low and modest income families.
✅Reduce the minimum RRIF withdrawal to help protect seniors’ retirement savings.
✅ Provide a temporary wage subsidy for 3 months to eligible small employers. Eligible employers include small businesses which are eligible for the small business deduction, unincorporated employers,-certain partnerships, non-profit organizations and charities.
✅ Help prevent shortages of patented drugs or medical devices.
✅ Introduce a pause on the repayments of Canada Student Loans for six months.
✅ Support provinces and territories with a COVID-19 Response Fund including one-time funding of $500 million through the Canada Health Transfer.
✅ Provide additional flexibility to support businesses as necessary through Export Development Canada, Business Development Bank of Canada, Farm Credit Canada and the Canada Account.
✅ Support the mortgage financing market in Canada through enhancements to the CMHC.
For more information, go to: https://www.canada.ca/en/department-finance/economic-response-plan/covid19-individuals.html or contact my office by email at firstname.lastname@example.org or by phone at 604-927-1080