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==Canada Emergency Response Benefit==
==Canada Emergency Response Benefit==
The '''Canada Emergency Response Benefit''' ('''CERB'''; {{lang-fr|Prestation canadienne d'urgence}}) is a temporary [[social security]] program created by the [[Government of Canada]] for Canadian residents facing [[unemployment]] due to the [[COVID-19 pandemic in Canada|COVID-19 pandemic]]. It provides a taxable benefit of up to {{CAD|2,000|link=yes}} per month, for up to four months.<ref>{{cite web |url=https://business.devilhunter.net/2020/04/canadian-emergency-benefit-registration.html |website=Zinios |title=Canadian Emergency Benefit Registration Begins |language=en |accessdate=April 9, 2020}}</ref><ref>{{cite web |last1=Department of Finance |title=Government introduces Canada Emergency Response Benefit to help workers and businesses |url=https://www.canada.ca/en/department-finance/news/2020/03/introduces-canada-emergency-response-benefit-to-help-workers-and-businesses.html |website=Government of Canada |publisher=Government of Canada |date=25 March 2020}}</ref><ref>{{cite web |title=Canada’s COVID-19 Economic Response Plan |url=https://www.canada.ca/en/department-finance/economic-response-plan.html#new_canada_emergency_response_benefit |website=Government of Canada |publisher=Government of Canada}}</ref><ref>{{cite news |last1=Harris |first1=Kathleen |title=What you need to know about the new COVID-19 benefits program |url=https://www.cbc.ca/news/politics/trudeau-income-supports-covid19-1.5509247 |work=CBC |date=25 March 2020}}</ref>

The program was established by Part 2 of the ''COVID-19 Emergency Response Act'',<ref>{{Cite web|title=Government Bill (House of Commons) C-13 (43-1) - Royal Assent - COVID-19 Emergency Response Act - Parliament of Canada|url=https://www.parl.ca/DocumentViewer/en/43-1/bill/C-13/royal-assent|website=www.parl.ca|language=en|access-date=2020-05-04}}</ref> and was launched on April 6, 2020. Within one week, nearly 3.5 million Canadians applied for this benefit;<ref>{{cite web|url=https://www.ctvnews.ca/politics/nearly-5-4-million-receiving-emergency-federal-aid-1.4893773|title=Nearly 5.4 million receiving emergency federal aid|publisher=ctvnews.ca|date=April 13, 2020}}</ref> this grew to 7.12 million by April 24.<ref>{{Cite news|last=Press|first=Jordan|url=https://www.theglobeandmail.com/canada/article-number-of-applicants-for-federal-emergency-benefit-surpasses-seven/|title=Expectant mothers left out of key COVID-19 emergency-aid program will receive financial help, Qualtrough says|date=2020-04-24|work=The Globe and Mail|access-date=2020-04-25|url-status=live|agency=Canadian Press}}</ref> On April 15, its eligibility was expanded to include seasonal workers, those who had run out of Employment Insurance, and people who make less than {{CAD|1000}} per month due to reduced hours.<ref>{{Cite news|last=Harris|first=Kathleen|url=https://www.cbc.ca/news/politics/cerb-emergency-benefits-trudeau-1.5532767|title=Part-time, contract and seasonal workers now qualify for COVID-19 emergency benefits|date=2020-04-15|work=CBC News|access-date=2020-04-15|url-status=live}}</ref>

The program is jointly administered by [[Employment and Social Development Canada]] and the [[Canada Revenue Agency]], with eligible persons either applying through ESDC's [[Service Canada]] online portal or through the CRA online portal. To be eligible, applicants must attest they: did not [[Resignation|quit]] their job voluntarily, earned at least {{CAD|5,000|link=no}} in 2019/the preceding 12 months, have stopped working or are working reduced hours, and are earning less than {{CAD|1,000|link=no}} in employment or self-employment income.<ref>{{Cite web|title=Who can apply: Applying for CERB with CRA|url=https://www.canada.ca/en/revenue-agency/services/benefits/apply-for-cerb-with-cra/who-apply.html|last=|first=|date=2020-05-04|website=Canada Revenue Agency|url-status=live|archive-url=|archive-date=|access-date=2020-05-04}}</ref>

On April 11, 2020, Finance Minister Bill Morneau introduced Bill C-14, which would extend benefits to small businesses and not-for-profits in the form of the [[Canada Emergency Business Account]] (CEBA) and [[Canada Emergency Wage Subsidy]] (CEWS).<ref>{{Cite web|url=https://www.canada.ca/en/department-finance/news/2020/04/government-introduces-covid-19-emergency-response-act-no-2-to-help-businesses-keep-canadians-in-their-jobs.html|title=Government Introduces COVID-19 Emergency Response Act, No. 2 to Help Businesses Keep Canadians in their Jobs|last=Canada|first=Department of Finance|date=2020-04-11|website=gcnws|access-date=2020-04-29}}</ref>

== References ==
{{Reflist}}

{{COVID-19 pandemic in Canada}}

[[Category:Government in Canada]]
[[Category:Canadian society]]
[[Category:Social programs]]
[[Category:Social security in Canada]]
[[Category:Unemployment benefits]]
[[Category:COVID-19 pandemic in Canada]]
[[Category:National responses to the COVID-19 pandemic]]
[[Category:2020 in Canadian politics]]
[[Category:43rd Canadian Parliament]]


{{Canada-poli-stub}}
{{COVID-19-stub}}



==Canada Emergency Business Account==
==Canada Emergency Business Account==

Revision as of 22:49, 31 May 2020


The Government of Canada introduced multiple financial aid programs in response to the economic impacts of the COVID-19 pandemic in Canada. The initial $82-billion aid package was announced on March 18, 2020.[1] These measures were implemented upon the COVID-19 Emergency Response Act receiving royal assent from Governor General Julie Payette on March 25, 2020.[2]

Modifications to existing programs

Existing social security programs were modified to provide additional financial support to their recipients. The Canada Child Benefit was increased by $300 per child, the Goods and Services Tax (GST) credit was doubled, and personal income tax deadlines were extended.

Canada Emergency Response Benefit

The Canada Emergency Response Benefit (CERB; French: Prestation canadienne d'urgence) is a temporary social security program created by the Government of Canada for Canadian residents facing unemployment due to the COVID-19 pandemic. It provides a taxable benefit of up to CA$2,000 per month, for up to four months.[3][4][5][6]

The program was established by Part 2 of the COVID-19 Emergency Response Act,[7] and was launched on April 6, 2020. Within one week, nearly 3.5 million Canadians applied for this benefit;[8] this grew to 7.12 million by April 24.[9] On April 15, its eligibility was expanded to include seasonal workers, those who had run out of Employment Insurance, and people who make less than CA$1,000 per month due to reduced hours.[10]

The program is jointly administered by Employment and Social Development Canada and the Canada Revenue Agency, with eligible persons either applying through ESDC's Service Canada online portal or through the CRA online portal. To be eligible, applicants must attest they: did not quit their job voluntarily, earned at least CA$5,000 in 2019/the preceding 12 months, have stopped working or are working reduced hours, and are earning less than CA$1,000 in employment or self-employment income.[11]

On April 11, 2020, Finance Minister Bill Morneau introduced Bill C-14, which would extend benefits to small businesses and not-for-profits in the form of the Canada Emergency Business Account (CEBA) and Canada Emergency Wage Subsidy (CEWS).[12]

References

  1. ^ "Coronavirus: Here's what's happening in Canada and the world Thursday". CBC News. March 19, 2020. Retrieved March 19, 2020.{{cite news}}: CS1 maint: url-status (link)
  2. ^ "Trudeau's $82B coronavirus support package gets royal assent, officially passes". globalnews.ca. March 25, 2020.
  3. ^ "Canadian Emergency Benefit Registration Begins". Zinios. Retrieved April 9, 2020.
  4. ^ Department of Finance (25 March 2020). "Government introduces Canada Emergency Response Benefit to help workers and businesses". Government of Canada. Government of Canada.
  5. ^ "Canada's COVID-19 Economic Response Plan". Government of Canada. Government of Canada.
  6. ^ Harris, Kathleen (25 March 2020). "What you need to know about the new COVID-19 benefits program". CBC.
  7. ^ "Government Bill (House of Commons) C-13 (43-1) - Royal Assent - COVID-19 Emergency Response Act - Parliament of Canada". www.parl.ca. Retrieved 2020-05-04.
  8. ^ "Nearly 5.4 million receiving emergency federal aid". ctvnews.ca. April 13, 2020.
  9. ^ Press, Jordan (2020-04-24). "Expectant mothers left out of key COVID-19 emergency-aid program will receive financial help, Qualtrough says". The Globe and Mail. Canadian Press. Retrieved 2020-04-25.{{cite news}}: CS1 maint: url-status (link)
  10. ^ Harris, Kathleen (2020-04-15). "Part-time, contract and seasonal workers now qualify for COVID-19 emergency benefits". CBC News. Retrieved 2020-04-15.{{cite news}}: CS1 maint: url-status (link)
  11. ^ "Who can apply: Applying for CERB with CRA". Canada Revenue Agency. 2020-05-04. Retrieved 2020-05-04.{{cite web}}: CS1 maint: url-status (link)
  12. ^ Canada, Department of Finance (2020-04-11). "Government Introduces COVID-19 Emergency Response Act, No. 2 to Help Businesses Keep Canadians in their Jobs". gcnws. Retrieved 2020-04-29.


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Canada Emergency Business Account

The Canada Emergency Business Account (CEBA; French: Compte d'urgence pour les entreprises canadiennes) is a program created by the Government of Canada to provide emergency interest-free loans to small businesses and nonprofit organizations during the COVID-19 pandemic.[1] The aim of this program is to ensure that these businesses have access to sufficient capital to remain solvent during the pandemic. CEBA was implemented in the COVID-19 Emergency Response Act, No. 2 which was introduced by Finance Minister Bill Morneau and passed in Parliament on April 11, 2020.[2]

The budget for the program was set for CA$25 billion, offering loans of CA$40,000 financed by Export Development Canada.[1][3] Businesses apply for CEBA loans through their current financial institution, which administer the loan and submit required information to EDC.[citation needed] Businesses that repay at least 75% of the loan balance (CA$30,000) by December 31, 2022 will have any remaining balance forgiven.[1] The size of the loans could be increased, along with the amount forgivable.[1] The due date could also be moved into 2024 if need be.[1]


Canada Emergency Wage Subsidy

The CERB launched on April 6, and within one week, nearly 3.5 million Canadians applied for this benefit;[4] this grew to 7.12 million by April 24.[5] On April 15, Trudeau announced that the CERB would be extended to workers making up to $1,000 per month, and that the government planned to work with the provinces to implement salary top-ups for essential workers who make less than $2,500 per month.[6]

The Canada Emergency Wage Subsidy (CEWS) was announced on April 1, an expanded version of the temporary business wage subsidy. The Parliament reconvened on April 11 to pass the COVID-19 Emergency Response Act, No. 2 on division. It implemented the CEWS—which allows eligible companies to receive a 75 percent subsidy on each of their employees' wages (up to their first $58,700) for 12 weeks retroactive to March 15.[7]

Trudeau introduced new financial aid programs on April 10, including the Canada Emergency Business Account (CEBA) which offers loans, interest-free until the end of 2022, of up to $40,000 for small- and medium-sized businesses[8][9] The CEBA was expanded on April 16 to make more businesses eligible.[how?]

Catherine McKenna announced on April 16 that the Ministry of Infrastructure and Communities sought shovel-ready infrastructure projects to receive in the 2020 construction season some "largely unspent" funds that had already been budgeted.[10]

The Canada Emergency Student Benefit (CESB) was announced by Trudeau on April 22. It would provide $1,250 per month from May to August to eligible postsecondary students. Students with disabilities or taking care of someone else would receive $1,750 per month.[11]

Financial impacts of aid programs

On April 30, Parliamentary Budget Officer Yves Giroux issued a report projecting the federal deficit for fiscal year 2020 could be in excess of $252 billion, based on nearly $146 billion in spending on federal aid measures.[12]

  1. ^ a b c d e "The three bridges Canada needs to get us across the economic chasm". The Globe and Mail Inc. 13 April 2020.
  2. ^ Canada, Department of Finance (2020-04-11). "Government Introduces COVID-19 Emergency Response Act, No. 2 to Help Businesses Keep Canadians in their Jobs". gcnws. Retrieved 2020-04-29.
  3. ^ "You are being redirected..." ceba-cuec.ca. Retrieved 2020-04-29.
  4. ^ "Nearly 5.4 million receiving emergency federal aid". ctvnews.ca. April 13, 2020.
  5. ^ Press, Jordan (April 24, 2020). "Expectant mothers left out of key COVID-19 emergency-aid program will receive financial help, Qualtrough says". The Globe and Mail. Canadian Press. Retrieved April 25, 2020.{{cite news}}: CS1 maint: url-status (link)
  6. ^ Aiello, Rachel (April 15, 2020). "Essential workers to get salary top-up, eligibility for emergency benefit expanded: PM". CTV News. Retrieved April 20, 2020.
  7. ^ "Coronavirus: Parliament adopts COVID-19 wage subsidy bill". Global News. Retrieved April 20, 2020.
  8. ^ "How to apply for the government's $25-billion CEBA business loan program". Financial Post. April 14, 2020. Retrieved April 20, 2020.
  9. ^ "PM Trudeau touts loan program, will return to Commons Saturday". CTV News. April 10, 2020. Retrieved April 20, 2020.
  10. ^ "Morning Brief: Feds seek 'shovel-ready' projects for post-COVID-19 stimulus". iPolitics. April 16, 2020.
  11. ^ "PM Trudeau announces $9B in new COVID-19 funding for students". ctvnews.ca. April 22, 2020.
  12. ^ "Federal deficit could top $252 billion, says budget officer". CBC. April 30, 2020.
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