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Trudeau points to bailout for help for renters facing financial crunch

Last Updated Mar 23, 2020 at 12:49 pm PDT

FILE - Prime Minister Justin Trudeau speaks at a press conference on COVID-19 at Rideau Cottage, his residence on the grounds of Rideau Hall in Ottawa, on Saturday, March 21, 2020. The Business Council of Canada says Trudeau could be doing more to help stop the spread of COVID-19. THE CANADIAN PRESS/Justin Tang
Summary

The legislative package would allow the government to quickly get money into pockets of Canadians

Some of the benefits won't flow for a few weeks and a new report today suggests many renters may not be able to wait

OTTAWA — Prime Minister Justin Trudeau is pointing to tomorrow’s legislative bailout package as a way to help renters affected by COVID-19.

The Liberals are asking the opposition parties and Senate to rapidly approve a $27-billion spending package, with a further $55 billion in tax breaks and available credit.

Speaking outside his Ottawa residence, Trudeau says the legislative package would allow the government to quickly get money into pockets of Canadians who need the help paying their bills, such as rent.

However, some of the benefits won’t flow for a few weeks and a new report today suggests many renters may not be able to wait until the first aid flows next month.

Research from the Canadian Centre for Policy Alternatives suggests just under half of renters in this country, or 1.6 million households, may only have enough money saved in the bank to pay their bills for a month or less.

A further quarter, roughly 830,000 households, don’t have enough income to get through a single week without pay, the analysis suggests.