The Trudeau government will spend $1.78 billion to provide Canadian seniors besieged by the coronavirus pandemic with a one-time payment $357 maximum payment, Seniors Minister Deb Schulte told reporters on Tuesday
TORONTO (Pakistan Point News / Sputnik - 12th May, 2020) The Trudeau government will spend $1.78 billion to provide Canadian seniors besieged by the coronavirus pandemic with a one-time payment $357 maximum payment, Seniors Minister Deb Schulte told reporters on Tuesday.
"The Government of Canada will provide a one-time tax-free payment of $300 [$214 USD] for seniors eligible for Old Age Security, and a further $200 [$143 USD] for seniors eligible for the Guaranteed Income Supplement," Schulte said. "This is a $2.5 billion [$1.78 billion USD] support to seniors."
The program will help 6.7 million seniors, including 2.2 million who will receive both payments for a total of $357, Schulte added.
The seniors minister also announced a $14 million program to provide funding for local projects, including virtual exercise classes and technology lessons, that will help seniors overcome the seclusion many have struggled with amid the COVID-19 lockdown.
Questions, however, are already starting to mount about the efficacy of the newly announced program, especially in light of many retirement funds being hollowed out by the coronavirus-induced stock market drop. Schulte defended the program, saying that the new monetary support is in addition to earlier measures including a reduction of the minimal withdrawals from the Registered Retirement Income Fund (RRIF).
Canadian health officials estimate that 79 percent of all Canadian fatalities are attributed to outbreaks in long-term care homes. The dire situation in care homes across Ontario and Quebec has garnered national attention and the Canadian military is already assisting in 13 of Quebec's and five Ontarian facilities.
