Canada unveils new financial aid measures to support large businesses

Trudeau makes Covid-19 aid intended to ‘save Canadian jobs’ conditional on meeting climate change goals

Trudeau makes Covid-19 aid intended to ‘save Canadian jobs’ conditional on meeting climate change goals

That will include oil and gas companies that are also facing a hit from a global drop in oil prices.

The Alberta government is pleased with the loan program announced by the federal government Monday aimed to help large companies get through the pandemic.

In addition, recipient companies would be required to commit to publish annual climate-related disclosure reports consistent with the Financial Stability Board's Task Force on Climate-related Financial Disclosures, including how their future operations will support environmental sustainability and national climate goals. Companies that receive money will have to accept limits on executive pay, dividends and share buybacks.

Toews said limiting corporate rewards was sensible for a taxpayer-funded program.

The comment suggests the Liberals have drawn a line around taking equity stakes in large companies like with the big automakers during the economic crisis a decade ago, said Don Drummond, a former senior Finance Department official.

Companies convicted of tax evasion will also not be eligible for the Large Employer Emergency Financing Facility.

Toews said the access to borrowing should be timely and painless, as "some of these businesses don't have a lot of runway".

Goldy Hyder, CEO at the Business Council of Canada, said it was the right move for the government to boost liquidity as there are limitations to how much private lenders can provide large companies.

Fans Rally For Chrissy Teigen After Food Writer’s Harsh Critique
Alison Roman has written a letter to Chrissy Teigen , and Marie Kondo, to apologise for her "uneducated and flippant" remarks. Chrissy shared the following message before going private. "This is a huge bummer and hit me hard", Teigen tweeted on May 8.

That said, the government hinted at stronger screening measures that could soon be put in place at Canada-US border crossings to deal with the anticipated uptick in people entering the country from the United States. "And this, as a broader based program, meets that criteria to a degree". He said companies were looking for more details about how to apply.

"We will be leaving no stone unturned", Morneau said of the federal and Statistics Canada probe.

"Some companies are very committed to paying dividends", he said.

"I think governments are moving cautiously, which I think is appropriate and I think they're trying to find that delicate balance between sort of ensuring some level of economic activity and some level of public health", said Greg Stanford, the U.S. Consul General, who is from MI but is based in Toronto. They're losing billions of dollars worth of work while oil companies back away from expansion plans.

Schulte said the pandemic has made life more expensive and more hard for the oldest Canadians, as many are facing higher costs for services, higher medication dispensing fees, are paying premiums for deliveries - all while their life savings have "taken a beating".

The federal government estimates there are now 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS.

Although some companies may not survive the unprecedented blow of the pandemic, McMillan expects the industry to rebound.

"Preventing transmission from outside of Canada into Canada, once we have controlled the spread within Canada, will be an essential part of ensuring that we don't fall back into a second wave that could be as serious as this wave we're going through, or even more so", he said.

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