What You Need To Know: COVID-19 (Coronavirus)

Updated April 8th, 9:10AM

Dear members,

Hospitality NL’s core priority is on supporting the industry through these extremely challenging times and we will continue to do everything we can to mitigate the impact that COVID-19 will have on our sector. As a result of the global impact, the volume of information, opinions and ideas has been overwhelming for many of us and in a time when social media can be the main source of advice, we wanted to curate a page where tourism businesses could receive current, factual and accurate information that helps inform businesses.

First and foremost, Community Health and Safety is our primary priority, particularly for employees and customers. Please follow the latest public health advisories listed here. We are taking guidance from official public health agencies at the local, provincial and federal level along with global organizations.

Along with actively monitoring and providing the latest information on COVID-19, Hospitality Newfoundland and Labrador has formed and is leading a working group surrounding the issue. This allows us to constantly engage with our provincial partners to better understand the impacts that it’s having in our province. Hospitality NL is closely monitoring the outbreak with our partners; Tourism Industry Association of Canada, The Government of Newfoundland and Labrador, Restaurants Canada, Hotel Association of Canada (among others) who are constantly monitoring the situation from official sources as well.

We understand these are stressful and rapidly changing times, but we want you to know that we are here to support you, your business and your concerns.

We are still 100% committed to supporting our members and the tourism industry. Hospitality NL offers a number of ways for members to engage with and contact us, even while we are physically away from our office in an effort to flatten the curve. Please visit our website for the staff directory (which contains our emails/phone numbers). Alternatively, you can reach out to us via social media on Twitter and Facebook. *If you are unable to reach us for any reason, please leave a detailed voicemail at the extension you are trying to reach and we will return your call as soon as possible*

*New Survey as of April 5th, 2020* We seek your assistance in providing this high level reporting on an ongoing basis so that we can advocate on your behalf with all levels of government: Link to survey here

Tourism Industry Impact News

As of April 7th, 2020 at 2:00pm NDT:

There are 228 cases of COVID-19 in Newfoundland and Labrador.

2 deaths have been confirmed in Newfoundland and Labrador

There is 1 confirmed case of COVID-19 in Saint-Pierre-et-Miquelon

Join the Conversation

HNL Launches a series of Virtual Gatherings of Tourism Business Leaders and Stakeholders – to share information, explore ideas, discuss what additional supports that may be required and to generate bold and creative ideas about how tourism will look in a POST COVID-19 world:

    • Sign up to join the conversation here

From our Partners: Your Participation is Needed

 

Local Action Needed to Save Tourism, Hotels and Restaurants in Your Riding

Your participation is needed:

1) Put your signature on our joint proposal by clicking here.
2) Send a letter to your Member of Parliament urging him/her to support this proposal. The letter is already pre-written for you, you just need to input your name and address. Click here to send a letter.

Training and Webinars

Resources for Accommodations Sector

General Resources for Tourism Industry

As this issue is rapidly changing it’s important to keep informed with official, factual and up to date information.

As this issue is rapidly changing it’s important to keep informed with official, factual and up to date information.

To keep members informed, we advise all businesses to use the following links for complete and up to date information:

What You Can Do (Physical and Mental Health)

Physical Health Resources:

  • Continue to practice good hand washing techniques and hygiene practices.
      • This includes washing thoroughly with soap and water, using hand sanitizer, coughing or sneezing into your elbow, and staying at home if you are experiencing flu-like[...]

Physical Health Resources:

  • Continue to practice good hand washing techniques and hygiene practices.
      • This includes washing thoroughly with soap and water, using hand sanitizer, coughing or sneezing into your elbow, and staying at home if you are experiencing flu-like symptoms.
  • Symptoms range from common to severe respiratory illnesses and many of these symptoms are similar to seasonal influenza.
    • Should you experience these symptoms AND have recently travelled internationally to an affected region:
        • Avoid contact with others and follow-up with your health care professional.
        • Advise your health professional in advance of attending clinic of your symptoms and travel history
  • Resource on 811 Healthline COVID-19 Self-Assessment found here
  • Resource on Coronavirus (COVID-19): Prevention and Risks found here
  • Resource on Government of Canada Indigenous Support found here

Mental Health Resources:

Travel Notices

  • 03/31/2020 – *Updated* Government of Canada: Restrictions at Canadian Borders
  • 27/03/2020 – Marine Atlantic: Marine Atlantic to Reduce Passenger Limit effective April 1
  • 23/03/2020 – Saint-Pierre et Miquelon suspends its air links with Canada
  • 20/03/2020 – Canada-U.S. border now closed to non-essential travel
  • 18/03/2020 – Canada, U.S. border closing to non-essential traffic
  • 17/03/2020 – Ferry service between Fortune, NL and St. Pierre-Miquelon is suspended
  • 17/03/2020 – Public Advisory: Ferry Passengers Allowed to Remain in Vehicles During Crossings information found
  • All non-essential travel outside of Canada should be avoided
  • An official global travel advisory is in effect: Avoid non-essential travel outside Canada until further notice
  • Cruise ships with more than 500 people on them will not be permitted to dock in Canadian ports from April 1st until July 1st
    • In Northern and Arctic ports, the cruise ship season will be deferred for the entire season
    • For ferries and smaller vessels the Federal Government is developing strengthened health measures and approaches
  • International flights will only be permitted to land at a smaller number of airports
    • *Those locations have not yet been announced*
  • Border measures: Travellers arriving at all major Canadian airports receive information and, if coming from high-risk areas, are screened to determine steps needed to protect their health and that of others. Similar information is available at Canada’s land border crossings.
  • All travellers arriving in Canada from international points are being asked to self-isolate for 14 days as a precaution. People arriving from Hubei, China, Iran and Italy already have been asked to self-isolate.
  • Travel Restriction on Passenger Travel From 26 European Nations to the U.S. read the update here 
  • A complete list of Travel Advisories & Active Travel Health Notices
  • The Government of Canada and The Public Health Agency of Canada (PHAC) currently recommends that Canadian travellers avoid all cruise ship travel due to COVID-19.
  • The risk for COVID-19 may be increased for certain settings such as:
    • cruise ships
    • heavily affected areas
    • international conferences and other large gatherings in enclosed spaces
  • It is important for all travellers to:
    • Self-monitor for symptoms of COVID-19 (fever, cough or difficulty breathing) for 14 days after returning to Canada
    • Avoid places where you cannot easily separate yourself from others if you become ill
      If you have even mild symptoms, stay home and call the public health authority in the province or territory you are in to inform them. They will provide advice on what you should do.
    • Individuals who have travelled outside of the country or attended a mass gathering event with international attendees in the 14 days prior to their return to Newfoundland and Labrador are asked to closely monitor their health and contact 811 if you develop fever, cough, or difficulty breathing.
    • Resource on Public Health Line Information found here

There are several active travel health notices for COVID-19. Each country or area may have different levels of risk. These risk levels may change as the COVID-19 event evolves internationally.

*Each of these destinations have travel health notices for COVID-19:

Press Release: Government Announces Details of the Canada Emergency Wage Subsidy to Help Businesses Keep Canadians in their jobs

News release

April 1, 2020 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada is taking immediate, significant and decisive action to support Canadians and businesses facing hardship as a result of the global COVID-19 outbreak.

To help[...]

News release

April 1, 2020 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada is taking immediate, significant and decisive action to support Canadians and businesses facing hardship as a result of the global COVID-19 outbreak.

To help Canadians and businesses get through these tough economic times, the Prime Minister, Justin Trudeau, announced that the Government is proposing to introduce a wage subsidy of 75 per cent for qualifying businesses, for up to 3 months, retroactive to March 15, 2020.

This measure, which is a part of the Government of Canada’s COVID-19 Economic Response Plan, would support businesses that are hardest hit by the COVID-19 pandemic and would help protect the jobs Canadians depend on during these difficult times.

Today, Finance Minister Bill Morneau, the Minister of Small Business, Export Promotion and International Trade, Mary Ng, and the Minister of Innovation, Science and Industry, Navdeep Bains, announced the details of the proposed Canada Emergency Wage Subsidy:

  • The Canada Emergency Wage Subsidy would apply at a rate of 75 per cent of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week. The program would be in place for a 12-week period, from March 15 to June 6, 2020.
  • Eligible employers who suffer a drop in gross revenues of at least 30 per cent in March, April or May, when compared to the same month in 2019, would be able to access the subsidy.
  • Eligible employers would include employers of all sizes and across all sectors of the economy, with the exception of public sector entities.
  • For non-profit organizations and registered charities similarly affected by a loss of revenue, the government will continue to work with the sector to ensure the definition of revenue is appropriate to their circumstances. The government is also considering additional support for non-profits and charities, particularly those involved in the front line response to COVID-19. Further details will be announced in the near term.
  • An eligible employer’s entitlement to this wage subsidy will be based entirely on the salary or wages actually paid to employees. All employers would be expected to at least make best efforts to top up salaries to 100% of the maximum wages covered.

The Canada Emergency Wage Subsidy is a key measure to ensure that workers are able to count on a source of income through this difficult time. It will enable employers to re-hire workers previously laid off, and to keep those who are already on payroll, so that Canada’s workforce and supply chains are able to return from this crisis in a strong position.

Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal. More details regarding how to apply for the program will follow. Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.

The government will continue to carefully monitor all developments relating to the COVID-19 outbreak and will continue to take further action to protect Canadians and the economy.

Quotes

“Businesses provide the jobs, the goods and the services that Canadians depend on to keep their communities going, in good times and bad. With the Canada Emergency Wage Subsidy, we are helping businesses keep their staff on payroll so that businesses will be better positioned to rebound when the current challenges have passed. We will continue to do whatever it takes to ensure that workers and businesses are supported through the outbreak, and that our economy remains resilient during these difficult times.”

Bill Morneau, Minister of Finance

“Small businesses are at the heart of our communities and are the backbone of our economy, employing millions of hard-working Canadians. There is no question that they are feeling the brunt of this challenging time. This wage subsidy will help keep more Canadians employed and will provide direct support to businesses so they can keep up with their bills. We will continue to listen to the very real needs of Canadian business owners and workers, and we will be there to support them every step of the way.”

Mary Ng, Minister of Small Business, Export Promotion and International Trade

“We have been in constant communication with Canadian businesses, and we know that all sectors of the economy are being affected by COVID-19. With the Canada Emergency Wage Subsidy, employers—no matter their size—will be supported to weather this storm, to be ready to recover when it passes, and to help Canadians keep their jobs.”

Navdeep Bains, Minister of Innovation, Science and Industry

Quick facts
  • The government has taken action to support Canadian businesses through the outbreak of COVID-19, with targeted new initiatives that:
    • Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June, as well as customs duties owed for imports. This measure is the equivalent of providing up to $30 billion in interest-free loans to Canadian businesses. It will help businesses so they can continue to pay their employees and their bills, and help ease cash-flow challenges across the country.
    • Launch the new Canada Emergency Business Account. This program will provide up to $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses, including not-for-profits. These loans – guaranteed and funded by the Government of Canada – will ensure that small businesses have access to the capital they need, at a zero-per-cent interest rate, so they can pay for rent and other important costs over the next number of months.
    • Launch the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending, supported through Export Development Canada and Business Development Bank, for guaranteed loans when small businesses go to their financial institutions to help weather the impacts of COVID-19. This is intended for small and medium-sized companies that require greater help to meet their operational cash flow requirements.
    • Extend the maximum duration of the Work-Sharing program, from 38 weeks to 76 weeks, for workers who agree to reduce their normal working hours because of developments beyond the control of their employers.
    • Increase credit available for farmers and the agri-food sector through Farm Credit Canada.
    • Defer the payment of income taxes. The government is allowing all taxpayers to defer, until August 31, 2020, the payment of income tax amounts that become owing on or after March 18 and before September 2020. This relief would apply to new balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

*COPY OF PRESS RELEASE*
View full announcement here

Press Release: Prime Minister announces support for small businesses facing impacts of COVID‑19

The Government of Canada is focused on helping Canadians and businesses through this tough economic time. We will continue to protect the health and[...]

The Government of Canada is focused on helping Canadians and businesses through this tough economic time. We will continue to protect the health and safety of Canadians, while supporting families and businesses and keeping our economy strong in the face of uncertainty.

The Prime Minister, Justin Trudeau, today announced additional new measures to support small businesses dealing with the economic impacts of the pandemic. These measures will help Canadian businesses protect the jobs that Canadians depend on, and pay their workers and bills during these difficult times.

Today’s announcement is a part of the government’s COVID-19 Economic Response Plan, which already commits $107 billion in support to Canadians so they can buy groceries, pay rent, and care for their loved ones, and also supports businesses through this difficult time.

To further support small businesses, the Government of Canada will:

  • Announce a 75 per cent wage subsidy for qualifying businesses, for up to 3 months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll. More details on eligibility criteria will start with the impact of COVID-19 on sales, and will be shared before the end of the month.
  • Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June, as well as customs duties owed for imports. This measure is the equivalent of providing up to $30 billion in interest-free loans to Canadian businesses. It will help businesses so they can continue to pay their employees and their bills, and help ease cash-flow challenges across the country.
  • Launch the new Canada Emergency Business Account. This program will provide up to $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses. These loans – guaranteed and funded by the Government of Canada – will ensure that small businesses have access to the capital they need, at a zero per cent interest rate, so they can pay for rent and other important costs over the next number of months.
  • Launch the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending, supported through Export Development Canada and Business Development Bank, for guaranteed loans when small businesses go to their financial institutions to help weather the impacts of COVID-19. This is intended for small and medium-sized companies that require greater help to meet their operational cash flow requirements.

These new investments will help Canada’s financial institutions provide the credit and liquidity options that a range of Canadian businesses need immediately.

The Government of Canada understands that some sectors have been disproportionally impacted by the COVID-19 pandemic. We will continue to carefully monitor all developments, and take further action in the near term. We’re all in this together, and the Government of Canada will continue to work around the clock to ensure all Canadians and small businesses get the support they need to weather this crisis.

Quotes

“Small businesses are the backbone of our economy, and an important source of good jobs across this country. They are facing economic hardship and uncertainty during the COVID-19 pandemic, and that is why we are taking action now to help them get the financial help they need to protect their workers and pay their bills.”

The Rt. Hon. Justin Trudeau, Prime Minister of Canada

“The measures that we are taking to protect Canadians and our economy from the impacts of the COVID-19 pandemic remind us that extraordinary times demand extraordinary actions. With the new measures we are announcing today to support businesses, we are showing once again that we will do what we must to ensure that workers and businesses are supported through the outbreak, and that our economy remains strong in the face of adversity.”

The Hon. Bill Morneau, Minister of Finance
Quick Facts
  • The deferral to June of GST/HST payments, as well as customs duties owing on imports, will generally apply to remittances that become due in March, April, and May. These amounts would normally have been due to the Canada Revenue Agency and the Canada Border Services Agency as early as the end of this month. This measure will take effect immediately, through existing authorities.
  • The Canada Revenue Agency is introducing a series of administrative measures to remove some of the burden on businesses experiencing financial hardship.
  • The new Canada Emergency Business Account will provide funding to eligible financial institutions so that they can provide interest-free loans in the form of lines of credit of up to $40,000 to businesses with payrolls of less than $1 million. A quarter of this loan (up top $10,000) is eligible for complete forgiveness.
  • The new Small and Medium-sized Enterprise Loan and Guarantee program will operate as follows:
    • Export Development Canada will provide guarantees to financial institutions so that they can issue new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized businesses. These loans will be 80 per cent guaranteed by Export Development Canada, to be repaid within one year.
    • Small and medium-sized businesses can also get support through a new Co-Lending Program that will bring the Business Development Bank of Canada together with financial institutions to co-lend term loans to these businesses for their operational cash flow requirements. Eligible businesses may obtain incremental credit amounts of up to $6.25 million through the program, which will be risk-shared at 80 per cent between the Business Development Bank of Canada and the financial institutions. Eligible financial institutions will conduct the underwriting and funding directly for customers.
  • The government has already introduced several measures to support businesses affected by COVID-19:
    • Providing eligible small employers a temporary wage subsidy for a period of three months. The subsidy will be equal to 10 per cent of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. Businesses will be able to benefit immediately from this support by reducing their remittances of income tax withheld on their employees’ remuneration.
    • Extending the maximum duration of the Work-Sharing program, from 38 weeks to 76 weeks, for workers who agree to reduce their normal working hours because of developments beyond the control of their employers.
    • Establishing a Business Credit Availability Program, largely targeted to small and medium-sized businesses, through the Business Development Bank of Canada and Export Development Canada. These organizations are working closely with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation, and tourism.
    • Increasing credit available for farmers and the agri-food sector through Farm Credit Canada.
    • Deferring the payment of income taxes. The government is allowing all taxpayers to defer, until after August 31, 2020, the payment of income tax amounts owed on or after March 18 and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.
Related Product
Associated Links

*Copy of Press Release*

Press Release: Economic Response Plan

Support Link: Economic Response Plan
Prime Minister announces more support for workers and businesses through Canada’s COVID-19 Economic Response Plan

March 18, 2020
Ottawa, Ontario
Prime Minister’s Office

The Government of Canada is taking strong and[...]

Support Link: Economic Response Plan
Prime Minister announces more support for workers and businesses through Canada’s COVID-19 Economic Response Plan

March 18, 2020
Ottawa, Ontario
Prime Minister’s Office

The Government of Canada is taking strong and quick action to protect our economy, and the health, safety, and jobs of all Canadians during the global COVID-19 outbreak.

The Prime Minister, Justin Trudeau, today announced a new set of economic measures to help stabilize the economy and help Canadians affected by the impacts of this challenging period.

These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses, plus $55 billion to meet liquidity needs of Canadian businesses and households through tax deferrals to help stabilize the economy. Combined, this $82 billion in support represents more than 3 per cent of Canada’s GDP. This wide-ranging support will help ensure Canadians can pay for rent and groceries, and help businesses continue to pay their employees and their bills during this time of uncertainty.

This plan builds on coordinated action taken since the beginning of this outbreak, including the more than $1 billion COVID-19 Response Fund, which provided funding to provinces and territories to strengthen critical health care systems. It represents over $500 billion in credit and liquidity support for people and businesses through cooperation between financial Crown corporations, the Bank of Canada, the Office of the Superintendent of Financial Institutions (OSFI), and commercial lenders to ensure businesses can continue to operate.

The actions announced today are part of Canada’s whole-of-government response to COVID-19. As a first step, this plan aims to stabilize our economy through targeted measures to address immediate challenges faced by workers and businesses alike. It will help ensure that workers have the money they need while they are sick or in isolation, or due to loss of work or a significant reduction in work income, and help support people and businesses experiencing financial hardship because of the outbreak.

Canadians should not make health decisions based on their financial needs. As the situation continues to evolve, further measures will be announced to support Canadians, stimulate the economy, and protect peoples’ jobs and livelihoods..

Support for workers

Canadians should not have to worry about paying their rent or mortgage or buying groceries because of the COVID-19 crisis. To support workers and their families, the Government of Canada is taking action to:

  • Provide additional assistance to families with children by temporarily boosting Canada Child Benefit payments. This measure would deliver almost $2 billion in extra support.
  • Introduce an Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks to provide income support to workers who must stay home and do not have access to paid sick leave. This measure could provide up to $10 billion to Canadians, and includes:
  • Workers, including the self-employed, who are sick, quarantined, or who have been directed to self-isolate but do not qualify for Employment Insurance (EI) sickness benefits.
  • Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent or other dependents who are sick, but do not qualify for EI sickness benefits.
  • EI-eligible and non EI-eligible working parents who must stay home without pay because of children who are sick or who need additional care because of school closures.
  • Introduce an Emergency Support Benefit delivered through the Canada Revenue Agency to provide up to $5 billion in support to workers who are not eligible for EI and who are facing unemployment.
  • Provide additional assistance to individuals and families with low and modest incomes with a special top-up payment under the Goods and Services Tax (GST) credit. This measure would inject $5.5 billion in the economy.
  • Waive, for a minimum of six months, the mandatory one-week waiting period for EI sickness benefits for workers in imposed quarantine or who have been directed to self-isolate, as announced on March 11.
  • Waive the requirement for a medical certificate to access EI sickness benefits.
  • Extend the tax filing deadline for individuals to June 1, and allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act.  No interest or penalties will accumulate on these amounts during this period. This measure will result in households having more money available during this period.
  • Provide eligible small businesses a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer. Employers benefiting from this measure would include corporations eligible for the small business deduction, as well as not-for-profit organisations and charities.  This will help employers keep people on their payroll and help Canadians keep their jobs.
  • Provide increased flexibility to lenders to defer mortgage payments on homeowner government-insured mortgage loans to borrowers who may be experiencing financial difficulties related to the outbreak. Insurers will permit lenders to allow payment deferral beginning immediately.

In addition, to provide targeted support for vulnerable groups, the Government is investing to:

  • Reduce minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25 per cent for 2020 in recognition of volatile market conditions and their impact on many seniors’ retirement savings.
  • Implement a six-month, interest-free, moratorium on Canada Student Loan payments for all individuals who are in the process of repaying these loans.
  • Provide $305 million for a new distinctions-based Indigenous Community Support Fund, to address immediate needs in First Nations, Inuit, and Métis Nation communities.
  • Support women and children fleeing violence by providing up to $50 million to women’s shelters and sexual assault centres to help with their capacity to manage or prevent an outbreak in their facilities. This includes funding for facilities in Indigenous communities.
  • Provide an additional $157.5 million to address the needs of Canadians experiencing homelessness through the Reaching Home program.

Support for businesses

In the face of an uncertain economic situation and tightening credit conditions, the Government is taking action to help affected businesses. To support Canadian businesses and help them retain their workers during this difficult time, the Government is announcing measures to:

  • Allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. This measure will result in businesses having more money available during this period.
  • Increase the credit available to small, medium, and large Canadian businesses. As announced on March 13, a new Business Credit Availability Program will provide more than $10 billion of additional support to businesses experiencing cash flow challenges through the Business Development Bank of Canada and Export Development Canada. The Government is ready to provide more capital through these financial Crown corporations.
  • Further expand Export Development Canada’s ability to provide support to domestic businesses.
  • Provide flexibility on the Canada Account limit, to allow the Government to provide additional support to Canadian businesses, when deemed to be in the national interest, to deal with exceptional circumstances.
  • Augment credit available to farmers and the agri-food sector through Farm Credit Canada.
  • Launch an Insured Mortgage Purchase Program to purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). As announced on March 16, this will provide stable funding to banks and mortgage lenders and support continued lending to Canadian businesses and consumers. CMHC stands ready to further support liquidity and the stability of the financial markets through its mortgage funding programs as necessary. The Government will enable these measures by raising CMHC’s legislative limits to guarantee securities and insure mortgages by $150 billion each.

The six largest financial institutions in Canada have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges, such as pay disruption due to COVID-19, childcare disruption due to school or daycare closures, or those suffering from COVID-19. As a first step, this support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products. The Government of Canada will continue to monitor evolving economic conditions and seek greater relief measures should it be necessary.

In order to move forward with implementing these new measures needed to provide timely support for Canadians and to ensure the Government has every tool at its disposal to address potential challenges that may arise, the Government intends to introduce special legislation and seek the approval of Parliament.

The Government of Canada will continue to take further action as required to prioritize the health and safety of Canadians, stabilize the economy, and mitigate the economic impact of this pandemic.

*COPY OF PRESS RELEASE*

FAQs

  1. What is the COVID-19 also known as Coronavirus?

Coronaviruses are a large family of viruses that originate in animals but are known to cause respiratory illness in humans, particularly during the fall and winter months. Other novel coronaviruses have included Severe Acute Respiratory[...]

  1. What is the COVID-19 also known as Coronavirus?

Coronaviruses are a large family of viruses that originate in animals but are known to cause respiratory illness in humans, particularly during the fall and winter months. Other novel coronaviruses have included Severe Acute Respiratory Syndrome (SARS) and Middle East Respiratory Syndrome (MERS-CoV).

2. What are the symptoms of novel COVID-19?
Symptoms range from common to severe respiratory illnesses and include:

  • fever
  • cough
  • difficulty breathingMany of these symptoms are similar to seasonal influenza and symptoms may take up to 14 days to appear after exposure to COVID-19. Should you experience these symptoms AND have recently travelled internationally to an affected region, avoid contact with others and follow-up with your health care professional. Advise your health professional in advance of attending clinic of your symptoms and travel history.

3. What are the risks of getting COVID-19?
The public health risk associated with COVID-19 for Canada is low and generally low for Canadian travellers, but will vary depending on the destination.

Canada has no direct flights from Wuhan and the volume of travellers arriving indirectly from Wuhan is low. However, at this time, the Government of Canada recommends that Canadians avoid non-essential travel to China and Iran due to an outbreak of COVID-19.

Canada also recommends that Canadians avoid all travel to the province of Hubei due to very strict travel and movement restrictions imposed by Chinese authorities to limit the spread of COVID-19.

Current evidence suggests person-to-person spread is efficient when there is close contact.

Public health risk is continually reassessed as new information becomes available.

4. What can I do to protect myself?
As usual, continue to practice good hand washing techniques and hygiene practices. This includes washing thoroughly with soap and water, using hand sanitizer, coughing or sneezing into your elbow, and staying at home if you are experiencing flu-like symptoms and follow-up with your health care professional.

Read the full list of FAQ’s here