As the COVID-19 (coronavirus) pandemic has brought much of Canada’s economy to a halt, provincial governments are looking to support businesses and regional economies. Some are providing tax extensions, others will provide new lines of credit and compensation for employees.
At the federal level, Prime Minister Justin Trudeau also announced $82 billion as part of the federal government’s COVID-19 Economic Response Plan, including small subsidies and BDC loans. Regional Development Agencies, such as FedDev Ontario, are applying a three-month deferral for companies in repayment, which takes effect on April 1.
Trudeau is scheduled to speak with premiers and territorial leaders on Monday evening about measures to curb the spread of the virus.
Here’s what Canada’s provinces are currently doing to help business communities weather the impact of the pandemic. The article will be updated as more information comes in.