Trudeau points to bailout for help for renters facing financial crunch
OTTAWA -- Prime Minister Justin Trudeau is pointing to Tuesday’s (March 24) legislative bailout package as a way to help renters affected by COVID-19.
The Liberals are asking the opposition parties and Senate to rapidly approve a $27-billion spending package, with a further $55 billion in tax breaks and available credit.
Speaking outside his Ottawa residence, Trudeau says the legislative package would allow the government to quickly get money into pockets of Canadians who need the help paying their bills, such as rent.
However, some of the benefits won't flow for a few weeks and a new report today suggests many renters may not be able to wait until the first aid flows next month.
Research from the Canadian Centre for Policy Alternatives suggests just under half of renters in this country, or 1.6-million households, may only have enough money saved in the bank to pay their bills for a month or less.
A further quarter, roughly 830,000 households, don't have enough income to get through a single week without pay, the analysis suggests.
The Canadian Press
- 'It's like a bad movie,' says Hamilton mayor of provincial COVID-19 modelling
- Hamilton family gifts $3.3M to local hospitals, researchers to help battle COVID-19
- Ontario extends business closures amid COVID-19 crisis
- Another Hamilton long-term care home has declared a COVID-19 outbreak
- Patients paying higher dispensing fees as pharmacists limit prescription amounts
- Direct financial help coming for Canadians affected by COVID-19, Trudeau says
- Justin Trudeau Promises To Lower Taxes and Cell Phone Bills in Hamilton
- Justin Trudeau announces $2 billion in spending to procure more medical equipment
- Justin Trudeau says Canada/U.S. border could be closed by Saturday
- Most Canadian households will get more than they pay from carbon tax: PBO