Government of Canada committing $10 billion to support country's businesses

Mar 16 2020, 11:02 am

Prime Minister Justin Trudeau announced on Monday that the Canadian government would be putting $10 billion towards supporting the country’s businesses during the COVID-19 pandemic.

Trudeau made the announcement during an update about new measures being put into place to combat the spread of the virus, which include limiting who Canada admits into the country.

“We will make $10 billion available in additional support for Canadian businesses,” Trudeau said during the conference.

“This is a tool that has worked before in difficult circumstances and we’re confident that it is going to work again.”

He also noted that more information on the financial support would come by Tuesday morning.

“The economic impact of the pandemic is shifting hourly, and we recognize the stress and anxiety that it is causing. As I’ve said, we are prepared to see Canadians through this time. We will have additional measures to announce as early as tomorrow to support Canadians, particularly our most vulnerable.”

Trudeau had a telephone meeting with the premiers on Friday, during which they discussed the $1 billion COVID 19 response fund. The fund includes support for the province’s health care systems.

“We can still slow the spread of this virus. but as Dr. Tam said, that window is closing. So far we’ve seen many provinces take aggressive steps to protect their communities,” Trudeau said.

“I want to thank them for their work — it’s time to take every precaution to keep people safe.”

Part of the response fund will also support indigenous communities.

“We’re making sure that everyone, no matter where they live, is prepared.”

With coronavirus on the rise, Health Canada is reminding individuals who attend events and large gatherings to monitor their health for signs and symptoms of COVID-19. And if you’re not feeling well, they recommend staying home at this time. Also, due to unexpected cancellations, please check the event you plan to attend is still taking place. Keep up with COVID-19 news here.