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Canada announces massive aid package amid pandemic

Canada announces massive aid package amid pandemic Photo: WDIO-TV file

Created: March 18, 2020 11:38 AM

TORONTO (AP) - Canada's government is deferring tax payments until August, providing a wage subsidy for small businesses and pausing student loan payments as part of massive stimulus package to limit economic damage from the coronavirus pandemic.

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Prime Minister Justin Trudeau says the government is focused on making sure Canadians can support their families, buy groceries and pay the rent. Up to $82 billion Canadian (US$56.4 billion) is being spent.

The money involved in Wednesday's announcement is about 3% of Canada's gross domestic product.

Copyright 2020 The Associated Press. All rights reserved.

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