Economics
Trudeau Unleashes Cash Drop in Bid to Revive Canada’s Economy
- Government increases size of stimulus plan to C$202 billion
- BoC slashes interest rates; government to subsidize wages
This article is for subscribers only.
Prime Minister Justin Trudeau has opened the government’s coffers to businesses in an effort to save a Canadian economy on life support due to the Covid-19 pandemic.
The government’s fiscal stimulus package now totals C$202 billion ($145 billion) after today’s measures, which include wage subsidies, government-backed credit lines and more tax deferrals to inject cash into the country’s nearly 1.2 million small- and medium-sized businesses.