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Canada backs $57bn coronavirus relief bill | Canada backs $57bn coronavirus relief bill |
(about 3 hours later) | |
Canada's multi-billion-dollar relief package to respond to the coronavirus slowdown has passed in the House of Commons. | Canada's multi-billion-dollar relief package to respond to the coronavirus slowdown has passed in the House of Commons. |
It allows the government to spend C$82bn ($57bn, £48bn) in emergency aid and economic stimulus. | It allows the government to spend C$82bn ($57bn, £48bn) in emergency aid and economic stimulus. |
The bill received approval Wednesday with support from all parties, after amendments that removed provisions giving cabinet unprecedented powers. | The bill received approval Wednesday with support from all parties, after amendments that removed provisions giving cabinet unprecedented powers. |
It must now go to the Senate for approval. | It must now go to the Senate for approval. |
Legislators passed the package, worth about 3% of the country's GDP, after a debate in the House of Commons that went into the early morning hours. | Legislators passed the package, worth about 3% of the country's GDP, after a debate in the House of Commons that went into the early morning hours. |
Prime Minister Justin Trudeau had promised to push the bill through parliament this week. | Prime Minister Justin Trudeau had promised to push the bill through parliament this week. |
"No matter who you are, where you are or what you do, Covid-19 is having an impact on your life," he said on Tuesday in a press conference from his residence. | |
"Speed is of the essence." | "Speed is of the essence." |
Local governments have been increasing social-distancing measures to stem the spread of coronavirus, which has led thousands of businesses to close their doors. | Local governments have been increasing social-distancing measures to stem the spread of coronavirus, which has led thousands of businesses to close their doors. |
The government said it received 500,000 claims for unemployment benefits last week, about 20-times the amount from the week before. | The government said it received 500,000 claims for unemployment benefits last week, about 20-times the amount from the week before. |
Canada's oil and gas sector has also taken a sharp downturn as the price of oil plummeted, from about $35.82 for a barrel of Western Canadian Select in January to just $5.43 last week. The oil and gas industry accounts for about 10% of the country's gross domestic product. | Canada's oil and gas sector has also taken a sharp downturn as the price of oil plummeted, from about $35.82 for a barrel of Western Canadian Select in January to just $5.43 last week. The oil and gas industry accounts for about 10% of the country's gross domestic product. |
What will the relief package provide? | What will the relief package provide? |
Measures in the bill include a boost to child benefit payments to families with children, wage subsidies for small employers, assistance for people unable to work due to the pandemic, and tax relief measures. | Measures in the bill include a boost to child benefit payments to families with children, wage subsidies for small employers, assistance for people unable to work due to the pandemic, and tax relief measures. |
An earlier version granted Mr Trudeau's cabinet far-reaching powers to tax and spend without parliamentary approval for up to 21 months. | An earlier version granted Mr Trudeau's cabinet far-reaching powers to tax and spend without parliamentary approval for up to 21 months. |
This prompted sharp criticism from opposition parties. | This prompted sharp criticism from opposition parties. |
Mr Trudeau's Liberal Party lead a minority government and need the support of other parties in order to pass legislation. | Mr Trudeau's Liberal Party lead a minority government and need the support of other parties in order to pass legislation. |
Parliament has been suspended since 13 March to allow MPs to work from home, but it reconvened temporarily on Tuesday, but with a limited number of MPs to allow for social distancing. | Parliament has been suspended since 13 March to allow MPs to work from home, but it reconvened temporarily on Tuesday, but with a limited number of MPs to allow for social distancing. |
What is the situation in Canada? | What is the situation in Canada? |
There are currently over 2,790 confirmed cases in Canada, according to data collected by John Hopkins University. There have been over 25 deaths linked to the virus. | There are currently over 2,790 confirmed cases in Canada, according to data collected by John Hopkins University. There have been over 25 deaths linked to the virus. |
There is also now community spread of the virus. | There is also now community spread of the virus. |
On Tuesday night, all non-essential businesses in Ontario and Quebec - two of its most populous provinces - closed by order of the provincial governments. | On Tuesday night, all non-essential businesses in Ontario and Quebec - two of its most populous provinces - closed by order of the provincial governments. |