Ottawa to announce 'significant fiscal package' as COVID-19 spreads, Trudeau says

Prime Minister Justin Trudeau said Friday the government will flow money directly to Canadians to help stimulate an economy that is sputtering due to the spreading COVID-19 pandemic.

Trudeau said Finance Minister Bill Morneau will announce a “significant fiscal stimulus package” this afternoon. He is expected to speak at 2 p.m. ET. will carry his remarks live.

An increasing number of Canadians are being forced to work from home as more people test positive for the coronavirus. Trudeau said the government will help people financially to ensure they can pay their rents or mortgages and put food on the table.

“We are looking at ways to help Canadians directly, yes,” Trudeau said.

“Our focus right now is on ensuring Canadians have the resources and the money to not have to stress about rent and groceries and child care and elder care when they’re worried about their health,” Trudeau said. “The finance minister will make further announcements later today on concrete measures to support our economy.”

The Toronto Stock Exchange has tanked in recent days as investors panic over the state of the economy, with disrupted supply chains and workers facing unprecedented restrictions on where and when they can work.

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