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Trudeau Unveils Fiscal Jolt Worth 3% of Canada’s Economy

  • Spending comes as nation closes border to all but Americans
  • Central bank working in tandem as oil crash weighs on economy
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Trudeau Announces Stimulus Equal to 3% of Canadian Economy
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Prime Minister Justin Trudeau announced plans to roll out a fiscal package worth 3% of Canada’s economy as it grapples with fallout from the coronavirus pandemic.

The measures will be worth a combined C$82 billion ($56.7 billion), Trudeau said Wednesday in Ottawa. This includes C$27 billion in direct support for individuals and companies and C$55 billion in temporary tax deferrals for both households and businesses.