During his daily news conference on Wednesday, Prime Minister Justin Trudeau said Canadian workers affected by the COVID-19 pandemic can now receive $2,000 per month for four months.
This package was created after Ottawa merged the $10 billion Emergency Care Benefit and the $5 billion Emergency Support Benefit that were announced last week.
Workers who have lost income as a result of the COVID-19 pandemic can apply for this new fund, called the Canada Emergency Response Benefit (CERB), once the portal is up on April 6th.
Those who qualify for assistance will begin to receive $2,000 per month for four months within 10 days of application.
This benefit will be available to those who lost income but do not qualify for Employment Insurance, according to Trudeau, who also mentioned that nearly a million Canadians applied for EI last week.
The CERB will be eligible for Canadians who have lost their job, are ill, quarantined, or taking care of someone who is sick with COVID-19. It also applies to working parents who must stay home without pay to care for children due to illness or school closures.
Workers who are still employed but not receiving income as businesses figure out how to retain employees during this pandemic will also qualify for this benefit.
Qualifying workers include anyone who is at least 15 years old and who, in 2019 or in the 12-month period before they apply, had a total employment income of at least $5,000.
Once an individual applies, the CERB would be paid every four weeks, from March 15, 2020 until October 3, 2020.
Last week, Trudeau announced an $82 billion financial assistance package for Canadian individuals and businesses.
This amount includes $27 billion in direct aid and $55 billion in tax deferrals to help the public meet liquidity needs in this time of economic turmoil.