SUMMARY:
The government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
Here's a summary of what the Canadian government is doing to support businesses:
Avoiding layoffs
- Extending the Work-Sharing Program
- The Canada Emergency Wage Subsidy
Access to credit
- Establishing a Business Credit Availability Program
Supporting financial stability
- Launching an Insured Mortgage Purchase Program
- Bank of Canada actions
- Lowering the Domestic Stability Buffer
More flexibility
- More time to pay income taxes
- Deferral of sales tax remittance and customs duty payments
Support for the air transportation sector
- Waiving ground lease rents
For more information on the Canadian support for businesses, click here.
AEA COMMENTARY:
The AEA team is actively researching and identifying resources to support the membership, their business and their employees. More information can be found on the AEA COVID-19 resource page available to all members.
FOR MORE INFORMATION:
Contact Ric Peri, AEA vice president of government and industry affairs, by email at ricp@aea.net or by phone at 202-589-1144.