The Canadian government has unveiled a new financial support plan for Canadians to revive the economy amid the COVID-19 pandemic.
During a recent news conference in Ottawa, the Deputy Prime Minister of Canada and Finance Minister, Chrystia Freeland and Minister of Employment, Carla Qualtrough, announced the new plan for the next stage of economic recovery when Canada still encounters the worst economic downturn in history.
The new plan comprises the extended Canada Emergency Response Benefit (CERB) and the formation of three new benefit programs.
The CERB will be extended by extra four weeks to September. Also, a new benefit that pays 400 Canadian dollars (about 303 U.S. dollars) every week for up to 26 weeks will substitute it for those who are ineligible for employment insurance.
Any citizen eligible for employment insurance will be availed the same minimum for a minimum of 26 weeks and must have have worked 120 hours to qualify and must be below current employment insurance requirements as a lot of Canadians have not been able to work owing to the pandemic.
The second new aid is a caregiving benefit of 500 Canadian dollars every week. This benefit will support any citizen who has to stay home due to the fact that school or daycare is closed.
The third new aid will offer 500 Canadian dollars every week for up to two weeks to Canadians who don’t possess paid sick leave and fall sick or must undergo self-isolate on owing to reasons connecte to COVID-19.
The CERB has paid out more than 69 billion Canadian dollars to over 8.6 million recipients and is expected to be in place until September 27, 2020. The CERB pays people 2,000 Canadian dollars a month.
Applications for the new benefits will open in October.
