Economics
Trudeau’s Fiscal Package Reaches $176 Billion With Latest Steps
- Subsidizing wages to cost federal government C$71 billion
- Tax deferrals, credit programs also among Morneau measures
Justin Trudeau
Photographer: David Kawai/BloombergThis article is for subscribers only.
The cost of Prime Minister Justin Trudeau’s fiscal package to protect the economy from the impact of Covid-19 has reached about C$250 billion ($176 billion) , according to the latest figures from the finance department.
One of the flagship programs, a plan to subsidize 75% of wages for Canadian workers, will cost C$71 billion, Finance Minister Bill Morneau told reporters Wednesday in Ottawa. Along with other measures such as the monthly income replacement scheme, direct support for companies and households will run the government C$105 billion, Morneau said.