Canada PM Trudeau pledges additional $77bn in stimulus package as COVID-19 mars economy

Canadian Prime Minister Justin Trudeau, on December 1 admitted that the second wave of coronavirus was compromising country’s economic recovery and pledged an addition of more than $77 billion in the stimulus package. With over COVID-19 387,052 cases and 12,229 deaths, the North American country has witnessed a seven per cent surge in infection over the last week of November, data by Public Health Agency of Canada revealed. Speaking to CBS news later, Trudeau asserted that owing to the second wave, the non-essential travel ban imposed earlier would continue throughout the holiday season. 

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'Significant investment' 

Meanwhile, Trudeau asserted that the addition to stimulus package would get “economy back on track.” Elaborating further on the enhanced economic package, he said it would boost wage subsidy for small businesses and workers. In addition, it would also enable banks to charge zero interest on student loans for one year. Out of the total funds, he revealed, $2 billion would be invested to help supply-managed dairy, poultry, and egg farmers.  

"This will be a significant investment to get our economy back on track and it's an investment that will make sure no one gets left behind," he said in a news conference in Ottawa.

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Last week, the Candian leader had said that he expects more than half of his country’s population to be vaccinated against COVID-19 by next September. Last week, the 48-year-old attracted flak after he claimed that Canadians might not be the first ones to receive the vaccine as it does not have a vaccine production facility. He also noted that the United States, United Kingdom, and Germany might get it first even with COVID-19 cases in Canada surpassing 3,87,000. 

Although he did not specify a particular month, the Prime Minister asserted that he expects a COVID-19 vaccine to arrive early in 2021. Speaking at a press briefing on COVID-19 and vaccine rollout, Prime Minister Trudeau said that although the pandemic was a race to get to the starting line first, it doesn’t get over until everyone reaches the finish line.

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Image: AP