PM Trudeau's update - Catherine Barrie, CGA, CPA, MBA

Catherine Barrie Accounting shares with you the following.

PM Trudeau’s Update (Condensed Version)

Today’s theme is students * Nova Scotia: 22 people killed in attacks. They were all loved. I’m extending my deepest condolences to friends and families.

* Students are asking how they can help? Many young people are doing their part. *Many young people are eligible for the CERB but some won’t. Covid 19 means there are not many jobs out there for students. Parents are stretched too. Support students through Canada Emergency Student Benefit to help 9 billion dollars for students. $1250 from May to August or $1750 if you have a disability or if you are caring for someone else. If you are student now, going to college in September or if you graduated after Dec 2019. Or if you are earning less than $1000 month. Available May 1st. *76000 jobs are being created for summer jobs. *291 million dollars is also being invested for scholarships, grants and fellowships.

*Volunteering: Students helping this summer can receive $1000-$5000 depending on hours through the Canada Student Service Grant. *Doubling grants that the government gives out for the 20-21 school year. *Indigenous students in Quebec, Northwest and Nunavut additional funding.

Questions: 1. Senior homes: We are working with them now to ensure employees who have low incomes will receive supplemental income and that additional safety measures are in place. People in these homes are always doing an astounding job but we must do more to protect our seniors. Quebec: We provided additional military contributions. Quebec is working very hard to resolve this situation.

2. We moved forward today with help for students. CERB is there for those who lost a paycheck. Our focus has been to get help to people who need it. There are many people who need help but some who don’t need help. We are giving as much help as possible to those that need it.

3. Lifting the lockdowns in some provinces and US borders: We all recognise that the pandemic is rolling out differently in each provinces, so they will make their own decisions. However we are working in collaboration to make sure things are similar in the process. In respect to the US border will remain in place to at least May 21st.

4. More than 50% of deaths are in Quebec. We respect provincial jurisdiction. We are there to provide aid when it’s needed.

5. We know small businesses are facing an extremely hard time. Our focus has been on workers who lose a paycheck and businesses. We recognize that small businesses needed access to credit with a $10000 non repayable element and dropped the threshold down to $20000.

6. Canadians abroad: We are very aware of the challenges especially at a time when flights are limited. We have brought back over 20000 Canadians on repatriated flights. We are working very hard with India.

7. Refugee Status: the safe third country agreement is still in place. Things have not changed since last night but Minister Blair will provide any updates.

8. Guaranteed minimum income: Would this not have been easier? It’s not just as simple to every single Canadian based on age and residency. We needed to help the people who really needed help. Those who lost jobs/income due to covid 19. We chose to move ins targeted fashion, very quickly. Over 8mil Canadians are receiving CERB.

9. Gun legislation: Why is this not the right time? We are looking at reintroducing this legislation. Right now, the rules in place for bringing the house back are that items need to be related to Covid-19. 10. Seniors/those who lost investments: Help is coming.

Stay up to date with these ongoing changes.

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