Canada’s COVID-19 Economic Response Plan – Overview
These measures are part of the Government of Canada’s COVID-19 Economic Response Plan – a comprehensive plan to help ensure that Canadians can pay for essentials like mortgages, rent and groceries, and to help businesses continue to pay their employees and their bills during this time of uncertainty.
|Protecting Health and Safety||Total Impact
|Immediate Public Health Response (of which, $25 million for PHAC in 2019-20)||50|
|COVID-19 Response Fund (including $500M for Provinces and Territories, completed in 2019-20, and $50M from existing resources)||1,025|
|Funding for Personal Protective Equipment and Supplies (of which, $200 million in 2019-20)||2,000|
|Safe Restart Agreement, Proposed Federal Contribution (includes support for healthcare including mental health and problematic substance use, testing and contact tracing support for vulnerable populations, child care, sick leave, municipalities, and personal protective equipment procurement)||19,351|
|PPE and Related Equipment for Essential Workers (increased support and funding for procurement)||511|
|Support for Health Canada and the Public Health Agency of Canada||88|
|Reducing Import Costs to facilitate access to Critical Medical Goods||2812|
|Health and Social Support for Northern Communities (critical priorities, air carriers, food subsidy enhancement)||115|
|Support for International Partners (includes $322.9M of International Assistance Envelope Crisis Pool and other allocated funding, updated July 17)||443|
|COVID-19 Medical Research and Vaccine Development (over two years)||1,127|
|Consular Assistance (of which, $36 million in 2019-2020)||100|
|Virtual Care and Mental Health Tools for Canadians||241|
|Enhancing Public Health Measures in Indigenous Communities||285|
|Total - Protecting Health and Safety||25,617|
|Direct Support Measures|
|Support for Individuals|
|Canada Emergency Response Benefit (CERB)||80,4733|
|Canada Emergency Wage Subsidy (CEWS)||83,6004|
|10% Temporary Business Wage Subsidy||2,0805|
|Essential Workers Wage Top-up||3,000|
|Temporary Enhanced GST Credit||5,515|
|Temporary Enhanced Canada Child Benefit||1,9976|
|Canada Student Loan Payments||190|
|Waiving the Employment Insurance Waiting Period for People in Imposed Quarantine||5|
|Advertising Campaign: Government of Canada’s COVID-19 Economic Response Plan 2020-2021||10|
|COVID-19 Communications and Marketing||50|
|Support for Students and Recent Graduates (over two years)|
|Youth Employment and Skills Development Programs (updated June 25)||1,008|
|Canada Student Loans (over two years)||1,930|
|Canada Emergency Student Benefit||5,250|
|Canada Student Service Grant||900|
|Support for Seniors|
|One-Time Payment to OAS and GIS recipients||2,509|
|New Horizons for Seniors Program expansion||20|
|Lower RRIF Minimum Withdrawal||495|
|Contribution of $9 million through United Way for local organizations (in 2019-20)||9|
|Support for Vulnerable Groups|
|Indigenous Community Support Fund (Updated with May 21st announcement)||380|
|Supporting the On Reserve Income Assistance Program||270|
|Support for women’s shelters and sexual assault centres, including in Indigenous communities||50|
|Protecting and Supporting Indigenous Women and Girls Fleeing Violence (first two years)||297|
|Support for People experiencing Homelessness (through Reaching Home)||158|
|Support for Children and Youth (Kids Help Phone)||8|
|Support for Food Banks and Local Food Organizations (of which, $25 million in 2019-20)||100|
|Support for Charities and Non-Profits Serving Vulnerable People||350|
|Support for Persons with Disabilities ($1M in existing funding)||865|
|Support for the Canadian Red Cross||100|
|Businesses, Sector Specific Supports|
|Canada Emergency Business Account (CEBA) - 25% incentive||13,7508|
|Alternative Credit Support for Businesses Unable to Access other Emergency Measures (RDAs, Community Futures Network, Futurpreneur Canada, and Industrial Research Assistance Program)||1,232|
|Support for local Indigenous economies and the Indigenous Tourism Industry||133|
|Support for Indigenous Businesses and Aboriginal Financial Institutions||307|
|Financial Relief for First Nations through the First Nations Finance Authority||17|
|Support for Northern Businesses (from existing resources)||15|
|Enhancements to the Work-Sharing Program||12|
|Canada Emergency Commercial Rent Assistance||2,974|
|Less: Provincial Contribution for CECRA||-569|
|Women Entrepreneurship Strategy – Ecosystem Top-up||15|
|Parks Canada Rent Relief and Revenue Replacement||74|
|Granville Island Emergency Relief Fund||17|
|Wage Subsidy for Staff of the Non-Public Funds, Canadian Forces||6|
|Support for the Federal Bridge Corporation Limited||3|
|Support for Sectors|
|Support for the Air Transportation Sector||331|
|Support for Food Inspection Services||20|
|Support for Firms that Hire Temporary Foreign Workers||549|
|Support for Cultural, Heritage and Sport Organizations||500|
|Support for the Broadcasting Industry||3510|
|Support for Canada's National Museums||26|
|Supporting the National Arts Centre during COVID-19||18|
|Emissions Reduction Fund for the Oil and Gas Sector (over two years)||750|
|Cleaning up Former Oil and Gas Wells||1,720|
|Emergency Funding for Safety Measures in Forest Operations||30|
|Support for Canada's Farmers, Food Businesses, and Food Supply||453|
|Support for Fish and Seafood Processors||63|
|Support for Canada’s Fish Harvesters||469|
|Support for Canada’s Academic Research Community||450|
|Total - Direct Support Measures||214,255|
|Tax Liquidity Support|
|CRA/CBSA liquidity support to businesses and individuals:|
|Income Tax payment deferral until after August||55,000|
|Sales Tax Remittance and Customs Duty Payments Deferral||30,000|
|Supporting Jobs and Safe Operations of Junior Mining Companies||5011|
|Total – Tax Liquidity Support||85,050|
|Total - Protecting Health and Safety, Direct Support Measures and Tax Liquidity Support||324,922|
|As % of GDP1||14.1%|
|Other Liquidity Support and Capital Relief|
|Business Credit Availability Program (BCAP) (through BDC and EDC):|
|Small and Medium-sized Enterprise Loan and Guarantee program||40,000|
|Canada Emergency Business Account (CEBA)||41,2508|
|Financing for Mid-size Companies through BCAP||To be determined12|
|Credit and liquidity support for the Agricultural Sector||5,200|
|Large Employer Emergency Financing Facility||To be determined12|
|Credit and liquidity support through the Bank of Canada, CMHC and commercial lenders||300,00013|
|Total – BCAP, Other Credit and Liquidity Support||386,450|
|Capital Relief (OSFI Domestic Stability Buffer)||300,000|
|Total - BCAP, other liquidity support and capital relief||686,450|
1 Total impact in 2020-21, unless otherwise specified. Differs from fiscal cost on an accrual basis, which is lower. % of GDP based on 2019 GDP. Numbers may not add due to rounding.
2 Estimate assumes tariff waiver would remain in place through 20-21 fiscal year. This could be repealed sooner.
3 Revised estimate based on observed uptake and eight-week extension. Includes up to $473M in implementation and administration costs for ESDC and CRA to administer to program.
4 Estimated total fiscal cost of the program as announced by the Minister of Finance on July 17.
5 Revised estimate.
6 Revised estimate based on observed payments.
7 Profile for the first two years (2020-21 and 2021-22) of total funding of $90.6M over five years, and $11.2M ongoing, announced on May 29 to protect and support indigenous women and girls fleeing violence, including to build new shelters and support operating costs.
8 Estimate. Reflects program expansion announced on June 26 and observed take-up.
9 Includes $4 million for Labour Market Impact Assessment (LMIA) refunds to eligible employers who have been affected by the pandemic and are no longer able to hire temporary foreign workers.
10 Revised estimate to include Employee Benefit Plan and the Public Services and Procurement Canada accommodation charges.
11 Fiscal impact of measures from 2019-20 to 2021-22.
12 Estimates of cost/impact under review, pending availability of take-up data.
13 Figures represent lower bound estimates based upon announced credit and liquidity support to date.
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