Almost 250,000 Canadians Apply For Emergency Benefit In First Hours - Trudeau

TORONTO (Pakistan Point News / Sputnik - 06th April, 2020) Almost 250,000 Canadians successfully applied for the emergency benefit within the first few hours after launch, Prime Minister Justin Trudeau said during a daily briefing on the COVID-19 pandemic on Monday.

The prime minister also announced that Canada's major banks are cutting credit card interest rates by as much as half amid the growing pandemic.

"This benefit is now available starting today," Trudeau said. "Since it opened this morning, 240,000 people have already successfully applied."

The prime minister added that new measures to help those who are still employed but have seen their hours drastically reduce and those whose wages are lower than the benefit are on the way.

Last month, the government announced the establishment of Canada Emergency Response Benefit (CERB) program, $1,400 benefit for workers who have had their income streams affected by the COVID-19 pandemic. The program is expected to cost $17 billion.