 
DAY TO HEAR FROM THE PRIME 
MINISTER OF CANADA, JUSTIN 
TRUDEAU, TO TALK ABOUT WHAT HIS 
GOVERNMENT IS DOING TO CONTAIN 
THE PANDEMIC FROM A PUBLIC 
HEALTH PERSPECTIVE AND FROM AN 
ECONOMIC ONE.
THAT DECISION BY THE BANK OF 
CANADA GOVERNOR STEVEN POLOZ 
THIS MORNING SLASHING THAT RATE 
TO BELOW EXPECTED BUT TO THE 
LOWEST RATE THAT WE'VE SEEN 
SINCE THE RECESSION BACK IN 
2008-2000.
A SIGNIFICANT MOVE BY THE 
GOVERNMENT THERE TO SHORE UP 
THE FUNDAMENTALS OF THE ECONOMY 
AND MAKE SURE THERE IS ENOUGH 
LENDING POWER.
LET ME SHOW YOU A LITTLE BIT OF 
WHAT THE GRN OF  -- GOVERNOR OF 
THE BANK OF CANADA HAD TO SAY A 
FEW MOMENT AGO.
>> SOME MAY SUGGEST THAT THIS 
IS USING A LOT OF FIRE POWER.
BUT I THINK THAT A FIREFIGHTER 
HAS NEVER BEEN CRITICIZED FOR 
USING TOO MUCH WATER.
AND I THINK, IF YOU LIKE, WE 
WANT TO MAKE SURE OF IT.
WE HAVE GREAT MARKET FUNCTION 
AND THE ECONOMY THEN HAS A 
GREAT FOUNDATION FOR GROWTH 
WHEN ACTIVITY RESUMES.
>> Rosemary: THIS COUNTRY, AS 
WELL AS COUNTRIES AROUND THE 
WORLD, TRYING TO FIGHT COVID-19 
ON A NUMBER OF FRONTS.
AS I MENTIONED THE HEALTH 
FRONT, OBVIOUSLY FIRST AND 
FOREMOST CONCERN FOR MANY 
PEOPLE, BUT THE REAL ECONOMIC 
IMPACT.
AND WHAT WILL EXPECT TO HAPPEN 
OVER THE NEXT COUPLE OF MONTHS.
THE GOVERNOR TELLING CANADIANS 
IN MANY WAYS WE'VE BEEN HIT 
TWICE BECAUSE OF THE PANDEMIC 
BUT ALSO BECAUSE OF THE STEEP 
DROP IN OIL PRICES IN THIS 
COUNTRY SO WE'RE DEALING WITH 
TWO CRISES AT THE SAME TIME.
LET'S BRING IN THE HOST OF 
"POWER & POLITICS", VASSY 
KAPELOS AND DAVID COCHRANE 
JOINS ME TODAY.
THAT RATE CUT, I DON'T THINK WE 
WERE EXPECTING TO SEE ANYTHING 
FROM THEM THE LAST NUMBER OF 
WEEKS.
BUT THEY DID IT BECAUSE THEY 
FELT, A, THERE WAS MORE ROOM TO 
DO IT AND, B, BECAUSE IT WAS 
NECESSARY.
AND IT COMES AS THE 
PARLIAMENTARY BUDGET OFFICER 
HAS GIVEN US A BIT OF A 
SNAPSHOT ON WHAT THE ECONOMY 
MIGHT LOOK LIKE OVER THE NEXT 
SIX MONTHS.
I SHOULD STRESS THAT THIS ISN'T 
AN OUTLOOK, A FINANCIAL OUTLOOK.
IT'S A SCENARIO THAT THEY HAVE 
COME UP WITH BASED ON THE KINDS 
OF THINGS THAT THEY'RE SEEING 
NOW.
I'M NOT SURE WHO WANTS TO WEIGH 
IN ON THAT FIRST.
VASSY?
>> Vassy: SURE.
THE SCENARIO IS NOT AN 
UNSURPRISING ONE.
EVEN THEY'RE SORT OF 
FORECASTING BASED ON THAT 
SCENARIO AND THEY'RE VERY 
CAREFUL TO SAY THAT THE 
PARLIAMENTARY BUDGET OFFICE, 
THE WATCHDOG HERE IN PARLIAMENT 
FOR BUDGETS THAT TAKE PLACE 
THAT GENERATE FROM THE 
GOVERNMENT.
THEY'RE CAREFUL TO SAY THIS IS 
JUST US MAKING AN ASSUMPTION 
AND THEN BASING OUR FORECAST ON 
THAT ASSUMPTION.
AND THE ASSUMPTION THAT THEY 
MAKE IS THAT THESE MEASURES 
STAY IN PLACE RIGHT THROUGH THE 
SUMMER.
SO, PHYSICALED CAL DISTANCING, 
NONESSENTIAL BUSINESSES CLOSED.
IMAGINE ALL OF THIS, THE WAY WE 
LIVE RIGHT NOW, STAYS IN PLACE 
FOR A NUMBER OF MORE MONTHS.
WELL, IT WILL HAVE A MASSIVELY 
DETRIMENTAL EFFECT ON THE 
ECONOMY.
EVERYBODY KNOWS THAT BY THIS 
TIME AND THE WAY THEY LOOK AT 
IT IS A CONTRACTION NOW, BUT AN 
EVEN BIGGER ONE IN THE QUARTER 
THATLE TOS A.25% CONTRACTION IN 
G.D.P. AT THAT POINT.
THAT IS HUGE.
LEVELS, FOR EXAMPLE, THAT WE 
HAVEN'T SEEN SINCE THE EARLY 
1990s AND THEN, IN SOME CASES 
DEPENDING ON WHAT IT MEANS FOR 
THE BUDGET, WHICH WOULD BE 
OBVIOUSLY MUCH BIGGER DEFICIT, 
NUMBERS THAT WE HAVEN'T SEEN 
SINCE THE 1980s AS WELL.
SO, WE'RE IN A VERY -- THIS IS 
HISTORICAL.
IT IS EXTRAORDINARY.
WE'VE SAID THAT OVER AND OVER 
AGAIN.
IT WILL HAVE AN IMPACT ON THE 
GOVERNMENT'S BOTTOM LINE AND IT 
WILL ALSO HAVE AN IMPACT ON THE 
ECONOMY MORE LARGELY SPEAKING.
THAT'S CLEAR.
I THINK IT'S -- YOU KNOW, YOU 
HAVE TO TAKE IT WITH A GRAIN OF 
SALT.
IT'S VERY DIFFICULT TO MODEL.
IT'S VERY DIFFICULT TO PREDICT.
I THINK WHAT WE CAN EXPECT FROM 
THE PRIME MINISTER TODAY IS 
ADDRESS AGO KEY SEARCH OF THE 
ECONOMY THAT WE EVE BEEN ASKING 
ABOUT FOR DAYS AND HE HAS SAID 
MORE INFORMATION, MORE HELP IS 
COMING IN THE COMING DAYS AND 
THAT IS THE SMALL BUSINESS 
SECTOR.
SMALL BUSINESS OWNERS, I'M TOLD 
WILL BE THE FOCUS OF TODAY'S 
ANNOUNCEMENT.
THE MESSAGE WILL BE KEEP PEOPLE 
ON THE PAYROLL.
I DON'T KNOW WHAT SPECIFICALLY 
THAT MEANS AS FAR AS WHAT 
THEY'RE GOING TO PROMISE.
BUT FOR ME THAT PARTICULARLY 
RAISES THE QUESTION AROUND WAGE 
SUBSIDIES.
WE TALKED ABOUT IT OFTEN OVER 
THE PAST WEEK.
WILL THEY INCREASE THE SUBSIDY 
FROM 10% TO A MUCH HIGHER 
NUMBER LIKE OTHER JURISDICTIONS 
IN EUROPE HAVE DONE IN ORDER TO 
SORT OF PROMOTE THE IDEA THAT 
EMPLOYERS SHOULD KEEP EMPLOYEES 
ON THE PAYROLL.
THAT IS WHAT I'M LOOKING FOR 
TODAY.
>> Rosemary: AND SMALL AND 
MEDIUM-SIZED BUSINESSES AND 
WE'VE BEEN HEARING A LOT FROM 
THEM, SAYING THAT THAT 10% WAGE 
SUBSIDY WAS NOT GOING TO BE 
ENOUGH.
JUST TO GIVE PEOPLE AN IDEA OF 
WHO WE'RE DEALING WITH.
THIS IS REALLY THE LARGEST SORT 
OF PRIVATE SECTOR EMPLOYER IN 
THE COUNTRY.
THERE ARE ALMOST ONE MILLION -- 
MORE THAN ONE MILLION SMALL AND 
MEDIUM-SIZED BUSINESSES IN 
CANADA.
MORE THAN HALF OF THEM HAVE 
FEWER THAN FOUR EMPLOYEES.
SO, THIS IS A KEY PART OF THE 
ECONOMY.
AND MANY BUSINESSES ARE 
CONCERNED ABOUT HAVING TO 
SHUTTER BRIEFLY AND THEN JUST 
NOT HAVING THE ABILITY TO 
RE-OPEN.
DAVID, NOT SURE WHICH PART YOU 
WANT TO WEIGH IN THERE, BUT 
OVER TO YOU.
>> David: THERE IS A BUNCH OF 
THINGS.
I'LL START WITH THE P.B.O. AND 
THEN BANK OF CANADA IF I CAN.
THE P.B.O. ESTIMATE IS QUITE 
STARK AND I THOUGHT IT WAS A 
LITTLE BIT OPTIMISTIC, EVEN 
THOUGH THE NUMBERS ARE WHAT 
THEY ARE.
25% G.D.P. CONTRACTION IN THE 
NEXT QUARTER.
5% DOWN OVERALL.
15% UNEMPLOYMENT RATE OVER THE 
COURSE OF THE YEAR, ASSUMING 
THE PHYSICAL DISTANCING AND 
RESTRICTIONS WE HAVE IN PLACE 
LAST UNTIL AUGUST AND THE 
FEDERAL DEFICIT OF AROUND $113 
BILLION, UP FROM $26 BILLION, 
WHICH WAS THE PROJECTION.
THAT IS PROBABLY GOING TO GROW 
BECAUSE THERE IS MORE SPENDING 
MEASURES GOING TO COME ON TOP 
OF THAT.
THE BANK OF CANADA RATE CUT IS 
INTERESTING.
IT'S ABOUT AS LOW AS IT REALLY 
CAN GO.
MONEY IS ESSENTIALLY FREE RIGHT 
NOW.
AND STEPHEN POLOZ, THE GOVERNOR 
OF THE BANK OF CANADA, SAID HE 
WON'T LOWER IT ANYMORE.
THIS IS AS LOW AS THEY'RE GOING 
TO GO.
AN INTERESTING PART OF HIS 
ANNOUNCEMENT TODAY IS THAT 
THEY'RE GOING TO GET INTO 
QUANTITATIVE EASING, WHICH 
ESSENTIALLY MEANS THEY'LL START 
BUYING GOVERNMENT BONDS TO 
INCREASE THE MONEY SUPPLY IN 
THE ECONOMY AND PUT CASH INTO 
THE BIG FINANCIAL INSTITUTIONS 
SO THERE'S LENDING CAPACITY AND 
THEY ARE GOING TO SPEND $5 
BILLION A WEEK, EVERY WEEK, 
UNTIL WE'RE INTO RECOVERY.
JUST THINK ABOUT THAT.
THAT IS $5 BILLION A WEEK WITH 
AN UNDETERMINED END POINT OF 
BOND BUYING TO PUT MONEY INTO 
THE FINANCIAL INSTITUTIONS AND 
INTO THE ECONOMY TO KEEP THINGS 
GOING AND THE CLIP WE PLAYED 
FROM POLOZ AS A FIREFIGHTER 
NEVER GETS CRITICIZED FOR USING 
TOO MUCH WATER.
THIS IS LIKE NOAH'S ARK LEVEL 
OF WATER HE'S POURING INTO THE 
ECONOMY.
AND YOU TALK ABOUT SMALL AND 
MEDIUM-SIZED BUSINESSES.
MOST CANADIANS WORK FOR SMALL 
OR MEDIUM-SIZED COMPANIES.
THESE ARE THE BACKBONE, NOT 
JUST OF THE ECONOMY, BUT YOUR 
COMMUNITY AND NEIGHBOURHOODS.
YOUR MAIN STREETS AND SMALL 
CORNER STORES AND COMMUNITIES 
BUSINESSES AND WE'VE SEEN SOME 
DIRE PREDICTIONS FROM THE 
CANADIAN ASSOCIATION OF 
INDEPENDENT BUSINESS THROUGHOUT 
ALL OF THIS, WITHOUT A MASSIVE 
INCREASE IN DIRECT GOVERNMENT 
SUPPORT, ONE-THIRD OF SMALL 
BUSINESSES DON'T THINK THEY'LL 
MAKE IT A MONTH.
THEY MIGHT HAVE THEIR RENT AND 
THEIR BILLS FOR APRIL 1, BUT 
THEY DEFINITELY DON'T HAVE IT 
FOR MAY 1.
THE 10% WAGE SUBSIDY FOR THREE 
MONTHS THAT WAS PART OF THE 
INITIAL RESPONSE THAT WAS 
ANNOUNCED, THAT IS WHAT THEY 
HAVE BEEN TARGETING.
OTHER COUNTRIES LIKE EUROPE 
WHERE YOU HAVE 75% TO 80% OF 
THE WAGE SUBSIDY, THE MONEY 
GOES INTO THE BUSINESSES AND 
STRAIGHT INTO THE EMPLOYEE AS A 
MODEL THAT THEY WOULD LIKE TO 
SEE CANADA ADOPT HERE.
NO IDEA IF THEY'LL GO THAT HIGH 
OR MOVE PARTWAY TO THAT.
BUT THERE HAS BEEN ACUTE 
PRESSURE FROM A CORE ELEMENT OF 
THE ECONOMY THAT THAT IS REALLY 
UNDER ACUTE STRESS AT THIS 
POINT IN TIME.
>> Rosemary: AND SMALL 
BUSINESSES HAVE DIFFICULTY 
SURVIVING IN THE BEST OF TIMES.
STATISTICS CANADA SAYS MOST 
BUSINESSS ARE LUCKY TO GET PAST 
THEIR FIFTH YEAR AND HALF OF 
THEM FAIL AT THAT POINT.
ANY UNCERTAINTY THAT MIGHT COME 
INTO THE ECONOMY AS WE'RE 
SEEING NOW WOULD ADD TO THOSE 
RISKS.
JUST SO PEOPLE ARE WATCHING 
THERE.
YOU'RE FAMILIAR WITH THE PRIME 
MINISTER'S FRONT DOOR.
THAT IS RIDEAU COTTAGE.
WE'RE EXPECTING TO HEAR FROM 
HIM IN ABOUT SEVEN MINUTES' 
TIME OR SO.
JUST WANT TO MAKE ONE NOTE ON 
SOMETHING THAT YOU MIGHT HAVE 
CLICKED IN YOUR EAR THERE A BIT 
FROM VASSY AND DAVID AS WELL 
AND THAT IS THIS LANGUAGE.
WE HAD BEEN SAYING SOCIAL 
DISTANCING.
WE'RE NOW ACTUALLY SEING IS 
PHYSICAL DISTANCING AND WE'LL 
TRY AND SEE THAT CONSISTENTLY 
GOING FORWARD AS A BE I TO 
BETTER DESCRIBE WHAT PUBLIC 
HEALTH OFFICIALS ARE ASKING YOU 
TO DO, WHICH IS YOU CAN BE VERY 
SOCIAL ON THE PHONE, ON VIDEO 
CHAT, ON SOCIAL MEDIA.
BUT PHYSICALLY YOU SHOULD BE 
DISTANCING YOURSELF FROM ONE 
ANOTHER AND THAT IS KEY ADVICE 
RIGHT NOW.
SO, WE ARE TRYING TO BE MORE 
PRECISE IN OUR LANGUAGE TO 
BETTER REFLECT THAT AS WELL.
PETER ARMSTRONG IS TRACKING 
THIS NEWS AS WELL.
I'M SURE YOU HEARD A LITTLE BIT 
ABOUT WHAT WE WERE SAYING.
HOW DO YOU VIEW THIS MOVE BY 
THE BANK OF CANADA TODAY?
>> Reporter: THIS IS A 
REMARKABLE THING.
THIS IS PART OF A COORDINATED, 
GLOBAL EFFORT TO PROP UP AND TO 
BASICALLY BUILD SCAFFOLDING 
AROUND THE GLOBAL FINANCIAL 
INFRASTRUCTURE THAT SO MANY 
REALLY EARLY ON IN THE MIDST OF 
THIS THAT CREDIT MARKETS -- 
BASICALLY THE SHORT TERM 
LOANING -- THE ACCESS TO CREDIT 
THAT BIG BANKS AND FINANCIAL 
INSTITUTIONS HAVE.
THOSE CREDIT MARKETS ARE KEY TO 
THE FLOW OF HOW CAPITAL AND HOW 
THOSE BIG INSTITUTIONS WORK AND 
SURVIVE.
AND SOMEBODY REALLY EARLY ON 
SAYING HAVING FUNCTIONED IN 
CREDIT MARKETS ISN'T GOING TO 
SOLVE THE PROBLEM.
IT HAS TO BE SORTED OUT BY 
SCIENCE AND BY DOCTORS.
ONCE THEY COME UP WITH A 
SOLUTION AND THEY WANT TO GET 
THE ECONOMY BACK UP AND 
RUNNING, YOU HAVE TO HAVE 
FUNCTION AND CREDIT MARKETS.
WOW IT, NONE OF IT IS GOING TO 
WORK.
YOU WON'T BE ABLE TO GET THE 
MONEY YOU NEED TO GET THE RIGHT 
VACCINES AND BORROW THE MONEY 
THAT IS OUT THERE TO GET THE 
ECONOMY BACK UP AND RUNNING.
THAT IS WHAT'S HAPPENING HERE.
BUT THIS IS AN EXTRAORDINARY 
THING.
QUANTITATIVE EASING UNTO ZITS A 
BIZARRE THING.
IT'S MAKING MONEY OUT OF THIN 
AIR INTO THE ECONOMY AND WE'RE 
LOOKING AT $5 BILLION A WEEK 
UNTIL THE ECONOMIC RECOVERY IS, 
QUOTE, WELL UNDER WAY.
SO, THE FORESEEABLE FUTURE, IT 
IS AN EXTRAORDINARY THING.
>> Rosemary: YEAH.
AND THE P.B.O. TODAY LOOKING AT 
A SIX-MONTH RANGE OF THESE 
MEASURES BEING IN PLACE.
WE OBVIOUSLY DON'T REALLY KNOW.
BUT THAT SEEMS LIKE A DECENT 
ESTIMATE.
LET ME GET YOU TO WEIGH IN ON 
THE SMALL AND MEDIUM-SIZED 
BUSINESSES HERE AS VASSY AND 
DAVID HAVE DONE.
THERE WAS A FAIR AMOUNT OF 
OUTCRY FROM THEM THAT THE 10% 
WAGE SUBSIDY WAS NOT ENOUGH TO 
KEEP THEM AFLOAT.
WHAT HAVE YOU BEEN HEARING OR 
WHAT WOULD YOU THINK THAT THE 
GOVERNMENT MIGHT MOVE TOWARDS?
>> Reporter: THERE ARE TWO 
THINGS THAT I HEAR FROM SMALL 
BUSINESSES AND THIS IS FROM 
FAIRLY BIG BUSINESSS THAT 
EMPLOY HUNDREDS OF PEOPLE ALL 
THE WAY DOWN TO THE LOCAL 
GYMNASTICS GYM AND RENT.
MOST MEDIUM-SIZED BUSINESSES 
DON'T OWN THE PROPERTIES OR 
STORE PROJECTS THAT THEY'RE 
OPERATING OUT OF AND THEY'RE 
NOT GETTING A BREAK ON RENT AND 
THAT IS OUTSIDE OF THEIR 
EMPLOYEES.
THAT'S ALWAYS THE BIGGEST 
EXPENSE.
SO, GETTING A BREAK ON RENT SE 
ENORMOUSLY IMPORTANT.
THE OTHER ONE, I SPOKE WITH A 
CLOTHING IMPORTER, SELF-CLOSED 
ACROSS THE COUNTRY, SAYING HE 
HAS TO PAY ALL OF THESE DUTIES.
HE IS PAID FOR PRODUCT COMING 
IN FROM WHATEVER COUNTRY.
IT'S COMING HERE.
HE NOW KNOWS HE CAN'T SELL IT.
EVEN IF HE DOES, THE PEOPLE 
WON'T BE PAYING THEIR BILLS 
RIGHT AWAY BECAUSE THEY'RE 
DEALING WITH THIS CRISIS.
HE IS OK WITH THAT.
HE STILL HAS TO PAY $130,000 A 
MONTH IN IMPORT DUTIES TO THE 
CANADIAN GOVERNMENT AND HE IS 
LOOKING FOR A LEAP AROUND THAT.
AND THAT IS A FAIRLY SIMPLE 
THING, BUT NOT THE KIND OF 
THING THAT JUMPS OUT AT YOU 
WHEN YOU'RE TRYING TO FIND OUT 
WHAT IS THE POLICY RESPONSE TO 
A CRISIS LIKE THIS.
THERE'S PROBABLY NOT A BUNCH OF 
PEOPLE IN THE ROOM SAYING WAIT 
A SECOND, WHAT DO WE DO ABOUT 
IMPORT DUTIS?
IT IS SECONDARY.
IT DOES MATTER AND IT IS A 
MATTER OF SURVIVING OR NOT FOR 
A LOT OF BUSINESSES.
>> Rosemary: OK.
PETER ARMSTRONG, WORKING 
REMOTELY.
WE APPRECIATE IT.
BEFORE THE PRIME MINISTER COMES 
OUT, WE'LL TRY TO SNEAK IN THIS 
ONE INTERVIEW.
HEATHER KENNEDY'S MOTHER IS AT 
VILLA MARCONI CARE HOME AND 
CAN'T SEE HER RIGHT NOW BECAUSE 
IT IS CLOSED TO OUTSIDE 
VISITORS.
I KNOW A LOT OF YOU ARE DEALING 
WITH THAT IN THIS COUNTRY.
HEATHER WAS ON THE LOCAL RADIO 
SHOW HERE IN OTTAWA, "OTTAWA 
MORNING" WITH ROBYN BRESNAHAN 
EARLIER.
WE WERE SO COMPELLED BY THAT 
INTERVIEW THAT WE WANTED TO 
TALK TO YOU HERE ON THE SPECIAL.
HOW IS YOUR MOM DOING AFTER TWO 
WEEKS OF BEING ISOLATED IN HER 
ROOM AND NOT BEING ABLE TO SEE 
YOU?
>> Caller: WELL, IT IS WEARING 
ON HER.
I CAN SEE THAT TODAY I DID HAVE 
A CALL WITH HER AT 10:00 AND 
SHE LOOKED REALLY TIRED.
SHE WAS EXHAUSTED.
AND I ASKED HER HOW SHE IS 
FEELING AND SHE SAID THAT SHE 
IS TIRED.
AND SHE WAS TOSSING AND TURNING 
LAST NIGHT.
SO SHE PROBABLY WAS [INAUDIBLE] 
LAST NIGHT AND SOMETIMES HER 
ASTHMA.
SO THAT SEEMS TO BE WHAT 
HAPPENS.
>> Rosemary: SHE IS 92.
I KNOW YOU'RE STANDING JUST 
OUTSIDE HER WINDOW THERE.
IS SHE AWARE OF EVERYTHING THAT 
IS GOING ON AND WHY YOU ARE NOT 
ABLE TO COME IN?
>> YES, SHE IS.
I ASKED HER A COUPLE OF DAYS 
AGO, DO YOU KNOW WHAT'S GOING 
ON?
AND SHE SAID YES, COVID-19.
MY MOTHER IS A NURSE.
SO SHE'S FAMILIAR WITH THE 
HEALTH CARE SETTING AND THESE 
THINGS THAT HAPPEN.
YOU KNOW.
>> Rosemary: WHAT HAVE YOU BEEN 
DOING TO TRY AND LIFT HER 
SPIRITS OTHER THAN STANDING 
OUTSIDE THE WINDOW THERE AND 
WAVING HELLO?
>> YEAH.
WELL, WE DID GO AND SEE HER 
EVERY DAY AND MY HUSBAND DANCES 
AROUND AND STUFF.
AND WE GOT A COUPLE OF CHUCKLES 
OUT OF HER.
YEAH.
AND WE'RE KEEPING HER UP TO 
DATE ON THE FAMILY.
SHE SANG HAPPY BIRTHDAY FOR MY 
DAUGHTER THE OTHER DAY.
WE HAD A GROUP CHAT ON THE 
FACETIME, I GUESS, THE OTHER 
NIGHT TO HAVE A BIRTHDAY PARTY 
FOR MY DAUGHTER FROM DIFFERENT 
PARTS OF THE COUNTRY, THE 
FAMILY GOT TOGETHER.
AND SHE  -- SHE HAD DONE A 
VIDEO SINGING HAPPY BIRTHDAY TO 
HER.
>> Rosemary: I'M JUST WAITING 
FOR THE PRIME MINISTER.
BUT LET ME END ON THIS.
WHAT DO YOU SAY TO OTHER 
CANADIANS?
SO MANY PEOPLE ARE DEALING WITH 
THIS.
THEY'RE NOT ABLE TO SEE THEIR 
LOVED ONES IN LONG-TERM CARE 
CENTRES BECAUSE THEY ARE 
VULNERABLE CENTRES.
WHAT DO YOU SAY TO CANADIANS?
>> I WOULD SAY TO BE CONSISTENT 
AND DEAL WITH THE STAFF AND THE 
ADMINISTRATOR AND WHOEVER YOU 
CAN IN ORDER TO GET IN TOUCH 
WITH YOUR PARENTS AND TO DO IT 
ON A DAILY BASIS.
WE'RE THEIR LIFELINE.
THEY NEED THAT CONTACT EVERY 
DAY.
I MEAN, I KNOW THAT.
I'VE SEEN CAREGIVERS WHO 
HAVEN'T BEEN ABLE TO MAKE IT.
WE'VE BEEN IN TOUCH WITH SOME 
OF THEM.
THEY ARE AT A LOSS NOT BEING 
ABLE TO SEE THEIR PARENTS EVERY 
DAY.
AND FOR ME THIS GIVES ME PEACE 
OF MIND AND ALSO GIVES MY MOM 
PEACE OF MIND TO SEE OUR FACES 
EVERY DAY.
RIGHT?
WE WERE THE CONTINUOUS FRACTURE 
IN THE HOME EVERY SINGLE DAY 
AND ALSO BECAUSE I'M HER 
DAUGHTER.
BUT I WOULD [INAUDIBLE] 
DISTANCE AND TRY TO GET THAT 
CONTACT WITH YOUR PARENTS 
BECAUSE IT DOES HELP ALL AROUND.
>> Rosemary: HEATHER, THE PRIME 
MINISTER IS COMING.
WHY DON'T YOU SAY HI TO YOUR 
MOM FOR US.
THANK YOU.
AND HANG IN THERE.
APPRECIATE IT.
>> THANK YOU VERY MUCH, ROSEY.
>> Rosemary: THANK YOU.
THAT'S HEATHER KENNEDY IF 
OTTAWA.
HERE'S THE PRIME MINISTER OF 
CANADA.
>> Prime Minister Trudeau: 
TAKEN BY THE BANK OF CANADA 
THIS MORNING.
MONETARY POLICY IS VERY 
IMPORTANT, BUT AS THE GOVERNOR 
OF THE BANK HAS REPEATEDLY 
SAID, THE MOST IMPORTANT THING 
WE CAN DO TO HELP PEOPLE AND 
THE ECONOMY IN THIS CRISIS IS 
FOR THE GOVERNMENT TO TAKE 
STRONG FISCAL ACTION.
SO, TODAY, I WANT TO SPEAK 
DIRECTLY TO SMALL BUSINESSES 
AND ENTREPRENEURS.
I KNOW THAT FOR MANY OF YOU THE 
PAST FEW WEEKS HAVE BEEN 
HEARTBREAKING.
YOU'VE HAD TO SLOW DOWN YOUR 
OPERATIONS.
IN SOME CASES, YOU EVEN HAD TO 
CLOSE UP SHOP FOR THE 
FORESEEABLE FUTURE.
AND BECAUSE MONEY ISN'T COMING 
IN, YOU CAN'T AFFORD TO KEEP 
YOUR EMPLOYEES ON THE PAYROLL.
THESE ARE REALLY TOUGH 
DECISIONS.
TOUGH BECAUSE YOU DON'T WANT TO 
LET THE PEOPLE  GO WHO HELP YOU 
RUN YOUR COMPANY IN YOUR TIME 
OF NEED.
TOUGH BECAUSE SOME OF YOU HAVE 
BILL YOUR BUSINESS OVER THE 
COURSE OF MANY YEARS, IF NOT 
DECADES AND NOW IT SEEMS LIKE 
THE THIS CLIMATE OF UNCERTAINTY 
COULD THREATEN EVERYTHING YOU 
WORKED FOR.
I KNOW MANY CANADIANS ACROSS 
THE COUNTRY ARE SADDENED TO SEE 
THEIR FAVOURITE NEIGHBOURHOOD 
SPOTS CLOSED.
THESE ARE THE PLACES THAT MAKE 
OUR COMMUNITIES FEEL LIKE HOME.
OR GOVERNMENT KNOWS YOU'RE 
REALLY FEELING THE IMPACTS OF 
THIS PANDEMIC ESPECIALLY WITH 
THE END OF THE MONTH COMING UP.
SO HERE'S WHAT WE'RE GOING TO 
DO TO TAKE SOME OF THAT 
PRESSURE OFF.
LAST WEEK, WE HAD ANNOUNCED 
THAT WE WOULD COVER 10% OF 
WAGES, BUT IT IS BECOMING CLEAR 
THAT WE NEED TO DO MORE, MUCH 
MORE.
SO, WE'RE BRINGING THAT 
PERCENTAGE UP TO 75%.
FOR QUALIFYING BUSINESSES.
THIS MEANS THAT PEOPLE WILL 
CONTINUE TO BE PAID, EVEN 
THOUGH THEIR EMPLOYER HAS HAD 
TO SLOW DOWN OR STOP THEIR 
OPERATIONS BECAUSE OF COVID-19.
WE'RE HELPING COMPANIES KEEP 
PEOPLE ON THE PAYROLL SO THAT 
WORKERS ARE SUPPORTED AND THE 
ECONOMY IS POSITIONED TO 
RECOVER FROM THIS.
THAT IS OUR PRIORITY.
WE'LL HAVE MORE TO SAY ON THIS 
VERY SOON.
I WITH TELL YOU THAT THIS 
SUBSIDY FOR SMALL AND 
MEDIUM-SIZED BUSINESSES WILL BE 
BACK DATED TO SUNDAY, MARCH 15.
FOR PEOPLE WHO HAVE LOST THEIR 
JOB OR ARE SELF-EMPLOYED, THE 
CANADA EMERGENCY RESPONSE 
BENEFIT WILL STILL BE THERE TO 
HELP YOU.
WE ALSO KNOW THAT FOR SMALL 
STOREFRONT BUSINESSES, THEY'RE 
STRUGGLING WITH CASH FLOW RIGHT 
NOW.
IT'S HARD TO RAISE MONEY AND 
MAKE MONEY IN THIS CLIMATE.
SO, TO HELP YOU BRIDGE TO 
BETTER TIMES, WE ARE LAUNCHING 
THE CANADA EMERGENCY BUSINESS 
ACCOUNT.
WITH THIS IN MEASURE, BANKS 
WILL SOON OFFER $40,000 LOANS 
WHICH WILL BE QUAIRN TEED D -- 
GUARANTEED BY THE GOVERNMENT TO 
QUALIFYING BYS.
THE LOAN WILL BE INTEREST-FREE 
FOR THE FIRST YEAR AND IF YOU 
MEET CERTAIN CONDITIONS, 
$10,000 OF IT WILL BE 
FORGIVABLE.
OUR GOVERNMENT WILL ALSO 
PROVIDE AN ADDITIONAL $12.5 
BILLION THROUGH EXPORT 
DEVELOPMENT CANADA AND THE 
BUSINESS DEVELOPMENT BANK TO 
HELP SMALL AND MEDIUM-SIZED 
BUSINESSS WITH THEIR 
OPERATIONAL CASH FLOW 
REQUIREMENTS.
THIS MEANS THAT BUSINESSES WILL 
BE ABLE TO APPLY FOR A 
GUARANTEED LOAN WHEN THEY GO 
FOR THEIR FINANCIAL 
INSTITUTIONS TO GET HELP AS 
THEY WEATHER THE IMPACTS OF 
COVID-19.
LASTLY, WE'RE ANNOUNCING THAT 
WE WILL DEFER G.S.T. AND H.S.T. 
PAYMENTS AS WELL AS DUTIES AND 
TAXES OWED ON IMPORTS UNTIL 
JUNE.
THIS IS THE EQUIVALENT OF 
GIVING $30 BILLION IN 
INTEREST-FREE LOANS TO 
BUSINESSES.
SO IF YOU'RE STRUGGLING TO GET 
BY RIGHT NOW AND YOU HAVE A 
PAYMENT DUE AT TEND OF THE 
QUARTER, WE'RE GOING TO GIVE 
YOU MORE TIME.
IT WILL ALSO ALLOW YOU TO KEEP 
THE MONEY THAT YOU WOULD HAVE 
SENT TO THE GOVERNMENT AND USE 
IT INSTEAD FOR YOUR IMMEDIATE 
NEEDS.
WITH THESE NEW MEASURES, OUR 
HOPE IS THAT EMPLOYERS PUSHED 
TOWARD LAYING OFF PEOPLE 
BECAUSE OF COVID-19 WILL THINK 
AGAIN.
AND FOR THOSE OF YOU WHO HAVE 
ALREADY HAD TO LAYOFF WORKERS, 
WE HOPE YOU WILL CONSIDER 
REHIRING THEM, GIVEN THIS 
PAYROLL SUPPORT.
OVER THE COMING DAYS, WE WILL 
ANNOUNCE ADDITIONAL MEASURES TO 
HELP THE MOST VULNERABLE.
YOUTH, MARGINALIZED PEOPLE, 
PEOPLE WHO LIVE IN POVERTY.
WE'RE GOING TO HAVE MORE NEWS 
TO SHARE WITH YOU VERY SOON.
[SPEAKING FRENCH].
>> Interpreter: THIS MORNING, I 
WANT TO SPEAK DIRECTLY TO 
ENTREPRENEURS AND SMALL 
BUSINESS OWNERS.
I KNOW THAT IN THE LAST FEW 
WEEKS, YOU HAVE BEEN FORCED TO 
MAKE VERY DIFFICULT DECISIONS.
SOME WITH NOT PAY THEIR 
EMPLOYEES.
OTHERS HAD TO SHUT DOWN SHOP.
THIS PANDEMIC HAS DESTABILIZE 
THE GLOBAL ECONOMY AND THE 
CLIMATE OF UNCERTAINTY WE SEE 
NOW IS OF GREAT CONCERN TO YOU.
LAST WEEK, OUR GOVERNMENT 
ANNOUNCED A SERIES OF MEASURES 
TO HELP YOU.
BUT YOU TOLD US THAT YOU NEEDED 
MORE.
AND WE HEARD YOU.
SO TODAY WE ARE ANNOUNCING 
ADDITIONAL MEASURES TO ASSIST 
YOU.
LAST WEEK, WE ANNOUNCED THAT WE 
WOULD PROVIDE A 10% WAGE 
SUBSIDY, BUT IT IS CLEAR THAT 
WE MUST GO FURTHER.
SO THE PERCENTAGE WILL NOW GO 
UP TO 75% FOR QUALIFYING 
S.M.E.s.
THAT MEANS THAT EMPLOYEES WILL 
CONTINUE TO BE PAID EVEN IF THE 
BUSINESS THEY WORK FOR HAS 
SLOWED DOWN OR HAS HAD TO STOP 
ITS ACTIVITIES ALL TOGETHER 
BECAUSE OF COVID-19.
WE ARE HELPING EMPLOYERS TO 
KEEP THEIR EMPLOYEES AND 
SUPPORT THOSE EMPLOYEES.
AND POSITION THE ECONOMY TO 
RECOVER.
THAT IS OUR PRIORITY.
WE WILL HAVE MORE DETAILS ON 
THAT VERY SOON.
BUT FOR THE TIME BEING, I WANT 
YOU TO KNOW THAT THIS SUBSIDY 
WILL BE RETROACTIVE TO MARCH 15.
FOR THOSE WHO HAVE LOST THEIR 
JOBS OR SELF-EMPLOYED, THE NEW 
CANADA EMERGENCY BENEFIT WILL 
BEABLE THERE FOR YOU.
WE ALSO KNOW THAT SMALL 
BUSINESSES HAVE PROBLEMS WITH 
THEIR CASH FLOW RIGHT NOW.
IT'S DIFFICULT TO GET FINANCING 
IN THE CURRENT CLIMATE.
SO, TO HELP YOU TO COME THROUGH 
THIS TOUGH TIME, WE ARE 
CREATING THE CANADA EMERGENCY 
BUSINESS ACCOUNT.
THROUGH THIS NEW MEASURE, BANKS 
WILL SOON BE OFFERING LOANS OF 
$40,000 GUARANTEED BY THE 
GOVERNMENT TO QUALIFYING 
BUSINESS.
THE LOAN WILL BE INTEREST-FREE 
FOR THE FIRST YEAR.
IF YOU MEET CERTAIN CONDITIONS, 
THE FIRST $10,000 OF THAT 
AMOUNT WILL BE FORGIVABLE.
OUR GOVERNMENT WILL ALSO BE 
PROVIDING $12.5 BILLION IN 
ADDITIONAL SUPPORT TO EXPORT 
DEVELOPMENT CANADA AND THE BANK 
-- THE DEVELOPMENT BANK OF 
CANADA AND TO HELP WITH THEIR 
CASH FLOW REQUIREMENTS.
BUSINESSS CAN APPLY GUARANTEED 
LOANS THROUGH A FINANCIAL 
INSTITUTION IN ORDER TO BE ABLE 
TO MITIGATE THE IMPACTS OF 
COVID-19.
AND FINALLY OUR GOVERNMENT IS 
ALSO ANNOUNCING THAT PEOPLE 
WILL HAVE UNTIL JUNE TO MAKE 
THEIR PAIFMS OF G.S.T. AND 
H.S.T. AS WELL AS TO PAY DUTIES 
AND TAX ON IMPORTS.
THAT IS THE EQUIVALENT OF 
PROVIDING $30 BILLION IN LOANS 
INTEREST-FREE TO BUSINESSES.
SO IF YOU ARE HAVING TROUBLE 
MAKING ENDS MEET BECAUSE OF 
PANDEMIC AND YOU NEED MOSH 
TIME, YOU WILL NOW HAVE MORE 
TIME TO MAKE THOSE PAYMENTS.
THIS WILL ALSO ALLOW YOU TO 
KEEP MORE MONEY TO PAY FOR YOUR 
DAILY EXPENSES.
WE HOPE THAT THESE MEASURES 
WILL ENCOURAGE EMPLOYERS WHO 
MAY HAVE BEEN FORCED TO LAY OFF 
THEIR EMPLOYEES TO KEEP THEM ON 
PAYROLL.
AND WE ALSO HOPE THAT IF YOU 
HAVE ALREADY DONE THAT, THAT 
YOU WILL THINK ABOUT REHIRING 
THOSE EMPLOYEES BECAUSE OF THIS 
WAGE SUBSIDY.
IN THE COMING DAYS, WE'LL BE 
ANNOUNCING ADDITIONAL MEASURES 
TO SUPPORT THE MOST VULNERABLE 
CANADIANS.
YOUNG PEOPLE, MARGINALIZED 
CANADIANS, PEOPLE WHO LIVE IN 
POVERTY AND WE WILL HAVE NEWS 
FOR YOU ON THAT VERY SOON.
>> Prime Minister Trudeau: I 
KNOW THE PAST WEEKS HAVE BEEN 
REALLY TOUGHMENT YOU'RE WORRIED 
ABOUT WHAT COVID-19 MEANS FOR 
YOUR BUSINESS AND FOR YOUR 
FUTURE.
THESE ARE UNCERTAIN TIMES.
MY MESSAGE FOR YOU TODAY IS 
WE'RE GOING TO BE HERE FOR YOU.
SMALL AND MEDIUM-SIZED IS 
BUSINESSES ARE THE BACKBONE OF 
OUR ECONOMY. YOU ARE 
COLLECTIVELY THE LARGEST 
EMPLOYER IN THE COUNTRY.
YOU SUPPORT MILLIONS OF 
FAMILIES.
YOU SERVE OUR COMMUNITIES.
AND YOU MAKE OUR TOWNS AND 
CITIES BETTER PLACES TO LIVE.
I AM COUNTING ON YOU TO COME 
BACK STRONG FROM THIS, NO 
MATTER WHAT COMES NEXT.
YOU ARE GOING TO GET THE 
SUPPORT YOU NEED TO HELP 
REBUILD A MORE RESILIENT AND 
PROSPEROUS ECONOMY.
SO TO BUSINESSES ACROSS THE 
COUNTRY, PLEASE KEEP YOUR 
WORKERS ON THE PAYROLL OR THINK 
OF HIRING THEY WILL BACK.
IN THE MEANTIME, LET'S KEEP 
THRONG OUR PUBLIC HEALTH 
OFFICIALS.
LET'S WASH OUR HANDS.
STAY HOME AS MUCH AS POSSIBLE 
AND KEEP A SAFE DISTANCE FROM 
EACH OTHER WHEN WE GO FOR A 
WALK OR HAVE TO GO TO THE 
GROCERY STORE.
TOGETHER, I KNOW WE'RE GOING 
GET THROUGH THIS.
MERCI BEAUCOUP.
>> Reporter: [SPEAKING FRENCH].
>> THE FIRST QUESTION FROM 
TERESA WRIGHT, THE CANADIAN 
PRESS.
YOUR LINE IS OPEN.
>> Reporter: GOOD MORNING, 
PRIME MINISTER.
COULD YOU PLEASE TELL ME WHEN 
YOU EXPECT THE AMERICANS TO 
DECIDE HOW THEY WILL OR WILL 
NOT DEPLOY THEIR MILITARY IN 
ORDER TO ASSIST THEIR BORDER 
PATROL?
>> Prime Minister Trudeau: AS I 
SAID, CANADA AND THE UNITED 
STATES BENEFIT IMMENSELY FROM 
THE FACT THAT WE SHARE THE 
LONGEST, UNMILITARIZED BORDER 
IN THE WORLD.
WE HAVE EXPRESSED TO THE UNITED 
STATES THAT IT WOULD BE A 
MISTAKE TO POSITION TROOPS NEAR 
THE CANADIAN BORDER AND WE 
CERTAINLY HOPE THAT THEY'RE NOT 
GOING TO GO THROUGH WITH THAT.
>> Reporter: HAS THE GOVERNMENT 
RECEIVED FORMAL CONFIRMATION 
THAT THE U.S. WILL NOT HOST 
TROOPS AT THE BORDER?
>> Prime Minister Trudeau: WE 
CONTINUE TO ENGAUGESING CLOSELY 
WITH BACK AND FORTH WITH THE 
AMERICAN ADMINISTRATION ON 
MANY, MANY ISSUES AROUND THE 
BORDER AND WHEN WE HAVE MORE 
INFORMATION, WE'LL SHARE IT.
[SPEAKING FRENCH].
>> Interpreter: BOTH CANADIANS 
AND AMERICANS HAVE A GREAT 
BENEFIT IN THE FACT THAT WE 
SHARE THE LONGEST DEMILITARIZED 
BORDER IN THE WORLD.
AND IT IS IN OUR INTERESTS TO 
CONTINUE TO HAVE THAT.
THAT IS EXACTLY WHAT WE HAVE 
EXPRESSED TO THE U.S. 
ADMINISTRATION.
AND THIS IS WHAT WE CONTINUE TO 
WORK ON.
>> THANK YOU, MERCI.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: GOOD MORNING, 
MR. TRUDEAU.
COULD YOU LET US KNOW WHETHER 
SOME OF THESE AMOUNTS WILL BE 
TAXABLE?
AND I'D ALSO LIKE TO KNOW WHAT 
MORE YOUR GOVERNMENT CAN DO TO 
HELP THE MEDIA DURING THIS 
CRISIS.
WE RECENTLY SAW THAT THEY WERE 
IN DIFFICULTY.
THE CANADIAN NATIONAL RESPONSE 
BENEFIT WILL BE AN INCOME 
BENEFIT LIKE E.I. AND WILL BE 
TAXABLE.
HOWEVER, WE WILL NOT BE TAKING 
MONEY OFF AT SOURCE SO PEOPLE 
WILL RECEIVE THE ENTIRE AMOUNT 
IMMEDIATELY AND BECAUSE WE HAVE 
A PROGRESSIVE TAX SYSTEM, WE 
WILL BE ABLE TO ENSURE THAT THE 
PEOPLE WHO NEED IT MOST WILL 
BENEFIT FROM IT AT THE VERY -- 
AS MUCH AS POSSIBLE.
>> THANK YOU.
MERCI.
THE NEXT QUESTION IS FROM THE 
"TORONTO STAR".
YOUR LINE IS OPEN.
>> Reporter: GOOD MORNING, 
PRIME MINISTER.
JUST WITH THESE NEW MEASURES 
THAT YOU'RE ANNOUNCING, CAN YOU 
GIVE US A SENSE OF THE COST AND 
I'D ALSO LIKE TO KNOW, GIVEN 
THAT THE BUDGET WAS ORIGINALLY 
SCHEDULED FOR NEXT MONDAY, I 
BELIEVE.
WHEN ARE WE GOING TO SEE A 
FISCAL ACCOUNTING OF ALL THESE 
SPENDING MEASURES AND A FISCAL 
UPDATE OR A BUDGET?
>> Prime Minister Trudeau: WE 
ANNOUNCED TODAY THAT WE WILL BE 
SUPPORTING SMALL AND 
MEDIUM-SIZED BUSINESSS WITH 
PAYROLL SUPPORT UP TO 75% FOR 
QUALIFYING BUSINESSES.
WE KNOW THAT THIS IS GOING TO 
BE A SIGNIFICANT MEASURE OF 
INVESTING IN CANADIANS AND IN 
BUSINESSS SO THAT WE CAN BOUNCE 
BACK FROM THE DIFFICULT TIMES 
WE'RE GOING THROUGH RIGHT NOW 
BOTH ON THE HEALTH SIDE AND ON 
THE ECONOMIC SIDE.
WE RECOGNIZE THAT THESE ARE 
UNPRECEDENTED INVESTMENTS IN 
THE ECONOMY.
BUT WE ALSO KNOW THAT THEY ARE 
NECESSARY.
THEY ARE NECESSARY BECAUSE WOE 
HAVE TO GET THROUGH THESE 
COMING MONTHS OF RESTRICTED 
ECONOMIC ACTIVITY WHERE PEOPLE 
STAY AT HOME AND WORK FROM HOME 
OR DON'T GO TO WORK AS MUCH AS 
POSSIBLE, FOCUS ON KEEPING 
THEIR FAMILIES SAFE.
BUT IF WE CAN SUPPORT BUSINESSS 
TO KEEP THAT RELATIONSHIP WITH 
THEIR EMPLOYEES, TO KEEP BEING 
ABLE TO PAY THEIR EMPLOYEES 
THROUGH THIS TIME, WE KNOW THAT 
COMING OUT OF THIS VIE SISTER  
-- CRISIS WILL BE SMOOTHER AND 
BETTER THAN OTHERWISE.
THAT IS OUR FOCUS RIGHT NOW.
IN TERMS OF ACCOUNTABILITY, WE 
WILL, OF COURSE, AS WAS PASSED 
IN PARLIAMENT EARLIER THIS 
WEEK, BE ENGAGING REGULARLY 
WITH MEMBERS OF THE OPPOSITION, 
WITH THE FINANCE COMMITTEE AND 
A ENSURING THAT PEOPLE ARE I 
SEEING EXACTLY WHAT WE'RE DOING.
WE KNOW THAT TRANSPARENCY 
AROUND THE INVESTMENTS WE'RE 
MAKING TO SUPPORT CANADIANS IS 
IMPORTANT NOT JUST FROM A 
DEMOCRATIC OR PARLIAMENTARY 
PRINCIPLE, BUT IMPORTANT IN 
GIVING CONFIDENCE TO CANADIANS 
THAT THIS GOVERNMENT WILL BE 
THERE FOR THEM WHILE THEY DO 
WHAT IS NECESSARY TO KEEP 
THEMSELVES, THEIR FAMILIES, 
THEIR NEIGHBOURS SAFE AND 
ENSURE THAT WE CAN COME OUT OF 
THIS STRONGER THAN EVER BEFORE.
>> THANK YOU.
MERCI.
[SPEAKING FRENCH].
>> Interpreter: MR. TRUDEAU, 
I'D LIKE TO HEAR MORE ABOUT 
TODAY'S ANNOUNCEMENT.
ARE YOU IN THE POSITION TO TELL 
US HOW S.M.E.s COULD BE HELPED 
BY THIS AND HOW MANY EMPLOYEES 
AND ALSO HOW MUCH IT WILL COST?
>> Prime Minister Trudeau: 
[SPEAKING FRENCH].
>> Interpreter: WELL, RIGHT NOW 
WE'RE FINALIZING THE DETAILS 
AND WE EXPECT TO BE ABLE TO 
PROVIDE ALL THAT INFORMATION BY 
MONDAY.
I CAN ASSURE YOU THAT WHATEVER 
INITIATIVES WE NEED TO TAKE FOR 
P.M.E.s WILL REALLY HELP THEM 
TO KEEP THEIR EMPLOYEES ON 
PAYROLL, TO CONTINUE TO PAY 
THEM, EVEN THOUGH THERE IS VERY 
LITTLE WORK TO BE DONE.
SO, FOR EXAMPLE A FAMILY 
RESTAURANT THAT HAS BEEN IN 
PLACE FOR MANY, MANY YEARS AND 
HAS HAD THE SAME EMPLOYEES FOR 
MANY, MANY YEARS AND HAVE BEEN 
WITH THEM THROUGH THE GOOD 
TIMES AND BAD TIMES AND NOW IN 
THE MIDST OF THIS CRISIS, THEY 
FIND THEMSELVES UNABLE TO PAY 
THOSE EMPLOYEES WHEN THEY NEED 
THE MONEY MOST.
SO WE NEED TO BE THERE FOR THEM.
YES, THE CANADA EMERGENCY 
RESPONSE BENEFIT WILL HELP A 
GREAT MANY PEOPLE WHO NEED IT.
WHEN POSSIBLE, IT IS BETTER FOR 
EVERYONE THAT WE KEEP THAT 
CONNECTION BETWEEN EMPLOYERS 
AND EMPLOYEES SO THAT PEOPLE 
CAN KNOW THAT THEY WILL STILL 
HAVE A JOB, EVEN THOUGH THEY'RE 
NOT WORKING AND THAT THEY WILL 
BE ABLE TO GO BACK TO THAT JOB.
BUT ESPECIALLY WE WILL ALL BE 
ABLE TO COME OUT OF THIS CRISIS 
QUICKLY WHEN THE TIME COMES.
WE NEED PEOPLE TO FEEL 
RE-ASSURED THAT THE ECONOMY 
WILL RECOVER AND NOT ONLY CAN 
WE KEEP OURSELVES SAFE, BUT WE 
CAN ALSO GET THINGS BACK TO 
NORMAL AND CONTINUE TO HAVE AN 
EXTRAORDINARY COUNTRY RIGHT 
HERE IN CANADA.
AND THAT IS WHAT WE'RE GOING TO 
BE DOING.
NOW WITH RESPECT TO THE COST, 
OF COURSE THAT WILL DEPEND ON 
THE DECISIONS WE MAKE WITH 
RESPECT TO THE DESIGN OF THE 
PROGRAMME.
BUT WE CAN TELL YOU THAT WE 
WILL DO WHATEVER IS NECESSARY 
TO HELP BUSINESSES AFFECTED BY 
COVID-19.
>> Prime Minister Trudeau: WE 
RECOGNIZE THAT THERE IS MORE 
DESIGN WORK TO BE DONE ON THIS 
AND WE'LL HAVE DETAILS 
HOPEFULLY BY MONDAY SO PEOPLE 
CAN MAKE THOSE DECISIONS TO 
KEEP PEOPLE ON THE PAYROLL, TO 
EVEN REHIRE PEOPLE TO BE BACK 
ON THE PAYROLL.
BECAUSE WE'RE THINKING ABOUT 
THAT FAMILY-OWNED RESTAURANT 
THAT'S BEEN AROUND FOR YEARS 
AND HAD MANY OF THE SAME 
EMPLOYEES FOR YEARS.
EMPLOYEES WHO HAVE BEEN THERE 
THROUGH SLOWDOWNS, GOOD TIMES 
AND BAD TIMES AND NOW THIS THIS 
MOMENT OF CRISIS, THEY'RE 
HAVING TO LAY THESE PEOPLE OFF.
AT THEIR TIME OF NEED.
WE KNOW THAT ALLOWING PEOPLE TO 
CONTINUE THAT RELATIONSHIP, 
ALLOWING PEOPLE TO CONTINUE TO 
FEEL AND TO KNOW THAT THEY HAVE 
A JOB, AND ALLOW EMPLOYERS TO 
KEEP SUPPORTING THOSE FAMILIS 
WHO WORK WITH THEM IS A REALLY 
IMPORTANT THING.
NOT JUST FOR PEOPLE'S 
CONFIDENCE, BUT FOR THE ABILITY 
OF ALL OF US TO BOUNCE BACK 
STRONGLY FROM THIS ONCE WE'RE 
THROW IT.
-- THERE IT.
WE NEED PEOPLE TO FOCUS TAKING 
CARE OF THEMSELVES AND THEIR 
FAMILIES AND NOT WORRYING ABOUT 
WHAT THE FUTURE WILL BRING.
THERE'S PLENTY OF WORRY FOR 
RIGHT NOW IN TERMS OF KEEPING 
SAFE.
THAT IS WHY WE'RE FOCUSED ON 
BEING THERE FOR YOU.
WITH THE THREE MEASURES THAT 
WE'RE ANNOUNCING TODAY WITH THE 
CANADA EMERGENCY RESPONSE 
BENEFIT AND THE PAYROLL SUPPORT 
OF UP TO 75% AND SIGNIFICANT 
ACCESS TO CREDIT FOR BUSINESSS 
THAT ARE SQUEEZED, WE ARE 
DEMONSTRATING THAT WE ARE THERE 
FOR YOU TO HELP US THROUGH THIS 
MOMENT SO WE CAN COME BACK ONCE 
WE'RE ALL SAFER, STRONGER THAN 
EVER BEFORE.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: AS A FOLLOW-UP, 
COULD YOU COMMENT ON THE 
SCENARIO THAT THERE WOULD BE A 
$7 BILLION DEFICIT IN 2021 AND 
THAT IS NOT COUNTING ALL THE 
MEASURES ANNOUNCED PREVIOUSLY 
AND ANNOUNCED TODAY.
WHAT DO YOU SAY TO CANADIANS 
WHO SEE THE DEFICIT EXPLODING 
AND MAY BE WORRIED ABOUT THAT?
CANADA WAS IN A VERY GOOD 
FISCAL POSITION BEFORE THIS.
WE HAD THE BEST ECONOMIC AND 
FISCAL POSITION OF ANY COUNTRY 
IN THE WORLD WITH 
G.D.P.-TO-DEBT RATIO THAT IS 
VERY, VERY LOW AND WHICH IS 
EXACTLY WHAT ALLOWS US TO TAKE 
THE NECESSARY MEASURES NOW, 
FEELING FULLY CONFIDENT OF OUR 
ABILITY TO HELP PEOPLE IN THIS 
EMERGENCY.
THIS IS COMPLETELY 
UNPRECEDENTED SITUATION THAT 
REQUIRES THAT WE INVEST TO HELP 
PEOPLE, TO HELP SMALL 
BUSINESSES, TO HELP EMPLOYERS 
AND PARTICULARLY TO HELP 
WORKERS AND THEIR FAMILIES AND 
THAT IS EXACTLY WHAT WE'RE 
DOING.
WE ARE CONFIDENT ABOUT CANADA'S 
ABILITY TO SURVIVE AND WE KNOW 
IF WE CAN COME THROUGH THIS, 
THIS DIFFICULT PERIOD, BY 
REMAINING HEALTHY AND DOING 
WHAT WE NEED TO DO TO PROTECT 
OURSELVES, WE WILL BE ABLE TO 
RETURN TO THE PROSPEROUS 
ECONOMY WE HAD BEFORE.
WE MUST ENSURE THAT WE'RE THERE 
TO SUPPORT EACH OTHER IN THESE 
DIFFICULT TIMES.
SO WE CAN REBUILD OUR ECONOMY 
AND MAKE THIS STRONGER WHEN 
THIS IS OVER.
>> Prime Minister Trudeau: WE 
KNOW THAT THESE ARE EXCEPTIONAL 
TIMES THAT HAVE REQUIRED 
EXCEPTIONAL MEASURES OF 
SUPPORTING CANADIANS, OF SMALL 
BUSINESSES AND THE ECONOMY AT A 
TIME OF ALMOST TOTAL ECONOMIC 
SLOWDOWN AND SHUTDOWN.
BUT WE ALSO KNOW THAT CANADA'S 
FUNDAMENTALS ARE STRONG.
WE HAVE ONE OF THE BEST BALANCE 
SHEETS IN THE G7 WHICH A -- 
ALLOWS US TO MAKE THE 
INVESTMENTS WE NEED TO KEEP 
CANADIANS FOCUS ON WHAT THEY 
NEED TO DO RIGHT NOW -- STAY 
HOME, TAKE CARE OF THEIR 
FAMILIES AND LOOK  OUT FOR 
THEIR LOVED ONES WITH THE 
CONFIDENCE THAT OUR ECONOMY 
WILL BOUNCE BACK STRONGLY.
IF WE MAKE SURE THAT PEOPLE CAN 
DO THE THINGS THEY CAN WITHOUT 
WORRYING ABOUT THE FUTURE, 
THERE'S PLENTY TO WORRY ABOUT 
RIGHT NOW, ABOUT TODAY.
FOCUS ON THE THINGS YOU NEED TO 
DO TODAY AND KNOW THAT YOUR JOB 
WILL BE THERE, THAT YOUR 
RELATIONSHIP WITH YOUR EMPLOYER 
CONTINUES, THAT WE'RE GOING TO 
SUPPORT YOU THROUGH THIS TIME 
AND WE CAN COME BACK STRONGER 
THAN EVER BEFORE AFTERWARDS.
THAT IS IN THE RESPONSIBILITY 
OF THE GOVERNMENT OF CANADA, OF 
ALL GOVERNMENTS IN CANADA RIGHT 
NOW.
AND THAT IS WHAT WE'RE FOCUSING 
ON.
WITH THE MEASURES THAT WE HAVE 
ANNOUNCED UNTIL NOW, THE CANADA 
EMERGENCY RESPONSE BENEFIT, 
THIS PAYROLL SUPPORT TO 75% AND 
THE ACCESS TO CREDIT FOR 
BUSINESSES TO SEE THEM THROUGH 
THIS TIME, WE KNOW WE ARE 
POSITIONING OURSELVES NOT JUST 
TO BE ABLE TO DO THE THINGS WE 
NEED TO DO RIGHT NOW TO KEEP 
OUR COUNTRY SAFE, BUT WE WILL 
BE ABLE TO COME BACK FROM THIS 
STRONGER THAN BEFORE.
AFTERWARDS.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: RADIO-CANADA.
YOU HAVE ACCESS TO PROJECTIONS 
AND NUMBERS AND SCENARIOS AND 
THERE ARE PEOPLE WHO ARE 
SITTING AT HOME RIGHT NOW 
WONDERING HOW LONG THEY'RE 
GOING TO HAVE TO STAY HOME.
WHAT CAN YOU SAY TO CANADIANS 
ABOUT HOW LONG THIS WILL TAKE, 
HOW LONG WILL THEY HAVE TO MAKE 
ECONOMIC SACRIFICES TO SAVE 
LIVES?
COULD THIS LAST UNTIL SUMMER?
WELL, WE'RE SEEING A LOT OF 
DIFFERENT POTENTIAL SCENARIOS.
SOME ARE MORE PESSIMISTIC, 
THEY'RE LONGER THAN OTHERS.
BUT ALL OF THIS WILL DEPEND ON 
THE CHOICES THAT CANADIANS MAKE 
NOW AND THE CHOICES THEY'VE 
MADE RECENTLY AND THE CHOICES 
THEY'LL MAKE IN THE COMING DAYS.
IF WE CONTINUE TO FOLLOW THE 
ADVICE OF EXPERTS AND STAY HOME 
AND LIMIT OUR TRAVEL TO PROTECT 
OURSELVES, AND PROTECT OUR 
LOVED ONES, WE CAN COME OUT OF 
THIS MORE QUICKLY.
NOW WHAT WILL IT LOOK LIKE?
HOW LONG WILL IT LAST?
WE KNOW WE'RE TALKING ABOUT 
WEEKS AND POSSIBLY MONTHS.
BUT AS WE SEE WHETHER OR NOT 
WE'RE ABLE TO FLATTEN THE CURVE 
IF WE'RE ABLE TO CONTROL THE 
SPREAD OF THE VIRUS, THEN WE'LL 
BE ABLE TO PREDICT WITH GREETER 
CERTAINTY HOW LONG PEOPLE WILL 
BE STUCK IN THIS PROTECTIONIST 
MODE.
NOW WE KNOW THAT WE WILL HAVE 
TO DO EVERYTHING WE CAN TO COME 
THROUGH THIS AND WE WILL BE 
THERE FOR AS LONG AS IT TAKES.
>> Prime Minister Trudeau: 
THERE ARE OBVIOUSLY MANY, MANY 
DIFFERENT PROJECTIONS OF HOW 
LONG THIS COULD LAST, HOW 
SERIOUS THIS COULD BE, HOW MANY 
CASES WE COULD BE FACING.
BUT THOSE PROJECTIONS ALL HINGE 
ON CHOICES THAT CANADIANS ARE 
MAKING TODAY.
CHOICES THEY MADE OVER THE PAST 
FEW DAYS.
CHOICE THEY WILL BE MAKING OVER 
THE COMING FEW DAYS.
I'M INCREDIBLY COMFORTED BY THE 
NUMBER OF CANADIANS WHO ARE 
TAKING THIS SERIOUSLY AND 
PROTECTS THEMSELVES, THEIR 
LOVED ONES AND BY EXTENSION OUR 
HEALTH CARE WORKERS AND 
ESSENTIAL WORKERS WHO ARE SO 
IMPORTANT IN THIS TIME OF 
CRISIS AND THE MEASURES THAT 
WE'VE ANNOUNCED AND THE 
MEASURES WE'RE ANNOUNCING TODAY 
WILL ENSURE THAT CANADIANS ARE 
BETTER ABLE TO DO THE THINGS 
NECESSARY TO KEEP THEIR 
FAMILIES SAFE IN THIS DIFFICULT 
TIME.
SO WE WILL BE ABLE TO SAY MORE 
ABOUT HOW MANY WEEKS OR MONTHS 
THIS LASTS FOR AS WE SEE THE 
IMPACTS OF THE BEHAVIOURS THAT 
PEOPLE HAVE ENGAGED OVER THESE 
DAYS.
BUT I AM VERY OPTIMISTIC THAT 
WE'RE GOING GET THROUGH THIS IN 
THE RIGHT WAY BECAUSE CANADIANS 
DO WHAT THEY NEED TO DO TO BE 
THERE FOR EACH OTHER AND KEEP 
US ALL SAFE.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: NOW SHOULD WE 
EXPECT AN ECONOMIC UPDATE 
BEFORE A BUDGET?
AND IF SO, WHY?
WELL, WE'LL CONTINUE TO BE 
TRANSIMPORTANT ABOUT THE 
MEASURES WE'RE PUTTING FORWARD.
WE ARE CURRENTLY INVESTING AND 
GIVING AID DIRECTLY TO 
CANADIANS AND SMALL BUSINESSES 
AND WE ALSO NEED TO HELP SOME 
MAJOR CORPORATIONS, INSPECTORS 
THAT HAVE BEEN VERY HARD HIT BY 
THIS CRISIS.
SO WE'VE DONE A LOT BUT WE 
STILL HAVE MORE TO DO AND AT 
EVERY STEP WE WILL BE 
TRANSPARENT ABOUT WHAT WE'RE 
DOING SO THAT PEOPLE CAN 
UNDERSTAND, SO PEOPLE CAN HAVE 
CONFIDENCE AND ALSO SO THAT 
PARLIAMENTARIANS CAN DO THEIR 
JOB AND ENSURE THAT THE 
GOVERNMENT IS DOING WHAT SHOULD 
BE DONE TO HELP CANADIANS.
>> Reporter: AT A TIME WHEN 
YOU'RE ROLLING OUT ALL THESE 
PROGRAMMES THAT REQUIRE 
CANADIANS TO INTERACT WITH 
GOVERNMENT, YOU'RE CLOSING 
SERVICE CANADA CENTRES ACROSS 
THE COUNTRY.
I'M WONDERING WHY THAT DECISION 
WAS TAKEN NOW AT THIS TIME AND 
WHAT IS YOUR MESSAGE TO PEOPLE 
WHO MIGHT HAVE TROUBLE 
ACCESSING GOVERNMENT SERVICES, 
PARTICULARLY PEOPLE WHO ARE 
SENIORS AND PEOPLE LIVING IN 
INDIGENOUS COMMUNITIS?
>> Prime Minister Trudeau: OVER 
THE PAST YEARS, WE HAVE MADE 
SIGNIFICANT EFFORTS TO ENSURE 
WHAT IS AT THE CANADA SERVICE 
CENTRES IS ABLE TO BE AND MORE 
ABLE TO BE ACCESSED ONLINE.
AS PART OF THE INITIATIVE OF 
ENCOURAGING PEOPLE TO STAY HOME 
AND WORK FROM HOME, THIS IS 
SOMETHING WE REALISE WE CAN AND 
SHOULD BE DOING.
WE WANT TO MAKE SURE THAT 
SERVICE CANADA EMPLOYEES ARE 
CONTINUING TO WORK EXTREMELY 
HARD TO SERVE CANADIANS AND 
RESPOND TO THEIR NEEDS AND THAT 
IS WHY THINGS WILL BE DONE 
ONLINE AND THROUGH THE PHONE 
AND WE WILL BE MAKING SPECIAL 
CONSIDERATIONS FOR PEOPLE WHO 
ARE PARTICULARLY VULNERABLE AND 
HAVE DIFFICULTIES ACCESSING 
THOSE SERVICES.
>> Interpreter: WE RECOGNIZE 
THAT WE NEED TO BE ABLE TO 
SERVE CITIZENS DURING THESE 
DIFFICULT TIMES.
BUT FOR SOME TIME NOW, SERVICE 
CANADA OFFICES HAVE BEEN MAKING 
THOSE SERVICES TOTALLY 
AVAILABLE ONLINE OR IN PERSON.
BUT NOW THAT WE ARE ASKING 
PEOPLE TO STAY HOME AND WORK 
FROM HOME, WE EXPECT PEOPLE AT 
SERVICE CANADA TO CONTINUE TO 
SERVE CANADIANS FROM HOME.
OF COURSE, THERE WILL BE 
ADDITIONAL MEASURES TAKEN TO 
HELP THOSE WHO CANNOT ACCESS TO 
T PHONE OR ONLINE SERVICES.
>> Reporter: THIS IS YOUR 14TH 
DAY IN SELF-ISOLATION.
EVERY TIME WE'VE ASKED YOU 
ABOUT THIS, YOU REFER TO 
DOCTOR'S ADVICE.
CAN YOU TELL US EXACTLY WHAT 
THE DOCTORS HAVE TOLD YOU ABOUT 
WHETHER OR NOT YOU HAVE TO STAY 
IN SELF-ISOLATION AFTER TODAY?
>> Prime Minister Trudeau: THE 
DOCTORS CONTINUE TO TELL US TO 
STAY IN SELF-ISOLATION.
BUT AT THE SAME TIME, WE'RE 
ASKING CANADIANS TO WORK FROM 
HOME, WHEREVER POSSIBLE.
WE'RE ASKING PEOPLE TO STAY 
SELF-ISOLATED AS MUCH AS 
POSSIBLE AND NOT TO GO OUT AS 
MUCH AS NECESSARY AND I'M HAPPY 
TO CONTINUE TO DO THIS.
[SPEAKING FRENCH].
>> Interpreter: I WILL CONTINUE 
TO FOLLOW THE ADVICE OF DOCTORS 
WHO ARE TELLING ME TO CONTINUE 
TO STAY IN ISOLATION.
BUT THE FACT IS WE'RE MADE THE 
I CAN'T THINKS TO WORK FROM 
HOME WHEREVER POSSIBLE AND NOT 
TO GO OUT IF IT'S NECESSARY.
AND, THEREFORE, NOT TO PUT 
OTHER PEOPLE AT RISK.
SO, I'M HAPPY TO DO PRECISELY 
THAT.
>> Reporter: PRIME MINISTER, 
DID YOU OR YOUR OFFICIALS KNOW 
THAT THE U.S. WOULD DEPORT 
ASYLUM-SEEKERS TURNED AWAY AT 
CANADA'S BORDER WHEN YOU STRUCK 
THE DEAL WITH THE U.S. LAST 
WEEK?
>> Prime Minister Trudeau: THE 
WORK THAT WE'VE DONE TO ENSURE 
THAT WE ARE STAYING TRUE TO OUR 
VALUES AND OUR PRINCIPLES IS AN 
EXTREMELY IMPORTANT ONE.
WE GOT ASSURANCES CONSISTENT 
WITH THE WAY THAT THE AMERICAN 
BORDER OFFICIALS HAVE 
INTERACTED WITH PEOPLE WHO 
ATTEMPT TO CLAIM ASYLUM AT 
OFFICIAL POINTS OF ENTRY 
INDUSTRY AND WE'RE KEEPING 
CONSISTENT WITH THE SAFE THIRD 
COUNTRY LAW.
>> Reporter: THAT DOESN'T 
ANSWER MY QUESTION.
IT WAS A YES OR NO QUESTION.
BUT I HAVE TO MOVE ON BECAUSE 
YOU'VE ALSO ANNOUNCED THIS 
MASSIVE WAGE SUBSIDY TODAY.
CAN YOU GIVE US ANY SPECIFICS 
ON WHAT THE CONDITIONS WILL BE, 
WHETHER THERE IS A CAP, AND HOW 
MANY EMPLOYERS -- OR WHICH 
BUSINESSES IT WILL APPLY TO.
>> Prime Minister Trudeau: AS 
WE SAID, WE'RE GOING TO ROLL 
OUT MORE DETAILS ABOUT THIS 
BETWEEN NOW AND MONDAY AS WE 
FINALIZE IT.
BUT IT IS IMPORTANT TO SEND 
THAT MESSAGE RIGHT NOW.
THAT IF YOU'RE A SMALL BUSINESS 
WHO'S FACING THE IMPOSSIBLE 
CHOICE OF LAYING OFF LONG-TIME 
EMPLOYEES BECAUSE THERE'S JUST 
NO MONEY COMING IN AND YOU 
DON'T KNOW HOW LONG YOU'LL KEEP 
OPERATING, WE ARE THERE TO HELP 
YOU OUT.
WE WILL SEND A 75% SUBSIDY SO 
YOU CAN KEEP THOSE EMPLOYEES ON 
THE PAYROLL SO YOU CAN CONTINUE 
TO SUPPORT THOSE FAMILIES WHO 
YOU WORKED WITH, IN MANY CASES, 
YEARS AND WE CAN CONTINUE TO 
HOLD TOGETHER THOSE ECONOMIC 
RELATIONSHIPS THAT ARE GOING TO 
BE SO IMPORTANT WHEN WE COME 
OUT OF THIS TIME OF TRIAL FOR 
CANADIANS AS WE LEAN ON EACH 
OTHER AND AS WE SELF-ISOLATE 
AND ALMOST STOP THE ECONOMY IN 
MANY WAYS.
WE NEED TO GET ROLLING AGAIN AS 
QUICKLY AS POSSIBLE ONCE THIS 
IS WAVE PASSES US THROUGH.
OUR ABILITY TO DO THAT WILL 
DEPEND ON OUR ABILITY TO BE 
CONFIDENT IN OUR ABILITY TO 
TAKE CARE OF EACH OTHER WHILE 
WE'RE DOING IT AND THAT IS WHAT 
WE'RE FOCUSING ON RIGHT NOW.
>> Reporter: HI, ASHLEY BURKE, 
CBC NEWS.
PRIME MINISTER, THERE IS A LOT 
OF UNCERTAINTY AND UNKNOWNS 
RIGHT NOW.
CANADIANS ARE LOOKING TO 
PREPARE AND LOOKING TO YOU FOR 
GUIDANCE.
SHOULD CANADIANS PREPARE FOR 
ANOTHER FEW MONTHS OF 
SELF-ISOLATION AT HOME?
>> Prime Minister Trudeau: AS I 
SAID, THE LENGTH OF TIME THAT 
WE HAVE TO BE SELF-ISOLATING 
AND GOING THROUGH THIS FREEZING 
OF ECONOMIC ACTIVITY IS VERY 
MUCH GOING TO BE LINKED TO 
BEHAVIOURS AND CHOICES THAT 
CANADIANS MAKE RIGHT NOW.
IF PEOPLE ARE DILIGENT ABOUT 
SELF-ISOLATING AND STAYING HOME 
AND NOT RISKING CONTACT WITH 
OTHERS, THEN WE WILL BE IN FOR 
A MUCH SHORTER TIME IN 
ISOLATION THAN OTHERS.
BUT THIS IS WHY IT IS SO 
IMPORTANT AND WHY WE ARE 
IMPRESSING UPON CANADIANS THE 
IMPORTANCE OF BEING RESPONSIBLE 
IN YOUR CHOICES RIGHT NOW, 
WASHING YOUR HANDS OFTEN.
ENGAGING IN SOCIAL DISTANCING, 
PHYSICAL DISTANCING, TWO METRES 
APART FROM OTHERS.
NOT GOING OUT UNLESS YOU 
ABSOLUTELY HAVE TO.
AS WE ARE SUPPORTING PEOPLE 
ENOUGH TO ALLOW THEM TO BE ABLE 
TO DO THAT, WE KNOW THAT THIS 
WILL LAST LESS LONG.
>> Reporter: AGRICULTURE GROUPS 
AND OTHERS ARE URGING YOUR 
GOVERNMENT TO DROP THE PLANNED 
INCREASED CARBON TAX AS OF 
APRIL 1.
IS THAT SOMETHING YOU'RE ASKING?
>> Prime Minister Trudeau: WE 
KNOW THAT IT IS IMPORTANT THAT 
WE PUT MORE MONEY IN THE 
POCKETS OF CANADIANS AT THIS 
POINT WHEN THEY'RE STRESSED.
OUR PLAN ON PRICING POLLUTION 
PUTS MORE MONEY UPFRONT INTO 
PEOPLE'S POCKETS THAN THEY 
WOULD PAY WITH THE NEW PRICE ON 
POLLUTION.
WE'LL CONTINUE TO FOCUS ON 
PUTTING MORE MONEY IN PEOPLE'S 
POCKETS TO SUPPORT THEM ACROSS 
THE COUNTRY.
WE KNOW THIS IS AN IMPORTANT 
MEASURE FOR THE FUTURE AND 
WE'LL CONTINUE TO ENSURE THAT 
WE ARE THINKING ABOUT THE 
FUTURE WHILE WE ENSURE THAT 
PEOPLE CAN AFFORD TO MAKE IT 
THROUGH THIS CRISIS IN THE BEST 
POSSIBLE WAY.
>> Reporter: SO YES OR NO!
ON CARBON TAX.
WILL IT GO UP NEXT WEEK?
>> Prime Minister Trudeau: WE 
CONTINUE -- WE DON'T MAKE SURE 
THAT PEOPLE HAVE MORE MONEY IN 
THEIR POCKETS BECAUSE THAT IS 
HOW WE DESIGNED THE PRICE ON 
POLLUTION.
>> Reporter: [SPEAKING FRENCH].
>> Rosemary: AND THAT IS THE 
PRIME MINISTER OF CANADA 
SPEAKING TO CANADIANS TODAY.
A SUBSTANTIAL SHIFT IN POLICY, 
A BIG MOVE THAT A LOT OF SMALL 
AND MEDIUM-SIZED BUSINESSES IN 
THIS COUNTRY WERE ASKING FOR.
YOU MIGHT REMEMBER LAST WEEK, 
THE GOVERNMENT WAS PROMISE AGO 
10% WAGE SUBSIDY FOR THREE 
MONTHS.
BUSINESS ORGANISATIONS, SMALL 
BUSINESSES IN THEMSELVES SAID 
THAT WAS NOT ADEQUATE.
TODAY THE GOVERNMENT AGREEING 
THAT WASN'T ENOUGH AND BRINGING 
IT UP5%.
LET'S START WITH YOU, VASSY.
THIS IS A BIG CHANGE AND A 
RECOGNITION THAT THE FIRST 
ATTEMPT OF -- THE FIRST TRY OUT 
OF THE GATE WASN'T ENOUGH.
WE'VE SEEN IT A NUMBER OF TIMES 
BECAUSE GOVERNMENTS DON'T TEND 
TO WORK THIS QUICKLY ON POLICY 
THINGS.
SOMETIMES IT TAKES MORE THAN 
ONE GO.
>> Vassy: YEAH.
AND WE HEARD OVER AND OVER 
AGAIN, WE'VE BEEN TALKING ABOUT 
IT FOR DAYS THAT THOSE 
ORGANISATIONS THAT REPRESENT 
PEOPLE WHO RUN SMALL BUSINESSES 
IMMEDIATELY SAID LET'S LOOK TO 
OTHER JURISDICTIONS WHICH HAVE 
SUBSTANTIALLY UPPED THE WAGE 
SUBSIDY AND COPY WHAT THEY'RE 
DOING AND THAT IS, IN FACT WHAT 
WE SAW HAPPEN TODAY.
AS YOU RIGHTLY CHARACTER IT, IT 
IS A BIG JUMP.
IT'S GOING FROM A 10% WAGE 
SUBSIDY TO 75%.
THE PRIME MINISTER ALSO 
ANNOUNCED A COUPLE OF OTHER 
THINGS THAT APPLY TO SMALL 
BUSINESS OWNERS.
THE FIRST BEING A CHANGE IN 
SORT OF -- OR INCREASE IN 
CREDIT, A TYPE OF CREDIT 
AVAILABLE.
SO, SOME SORT OF SPECIAL LOAN 
AND I'M COUCHING MY LANGUAGE 
BECAUSE I DON'T KNOW ALL THE 
DETAILS.
THEY WEREN'T ALL PROVIDEDED 
HERE.
BUT A $40,000 LOAN THAT WOULD 
BE INTEREST-FREE FOR A YEAR AND 
THERE IS THE POSSIBILITY, 
DEPENDING ON THE CONDITIONS 
THAT $10,000 OF THAT LOAN COULD 
BE FORGIVEN.
SO, THAT IS ANOTHER SIGNIFICANT 
THING THAT CAME OUT OF THIS 
ANNOUNCEMENT.
HE ALSO, AND PETER ARMSTRONG 
HAD FLAGGED IMPORTERS AND THE 
STRESS THAT THEY'RE FEELING.
A LOT OF SMALL BUSINESS OWNERS 
WHO ARE IMPORTERS.
HE SAID THAT G.S.T. AND H.S.T. 
TAX PAYMENTS AS WELL AS DUTIES 
COULD BE DEFERRED, I BELIEVE, 
UNTIL JUNE.
SO HE SAID THAT ACTED AS, YOU 
KNOW, ANOTHER SORT OF 
INVESTMENT.
A COUPLE OF THINGS THAT I WOULD 
FLAG T. WAGE SUBSIDY IS THE 
BIGGEST PART OF THIS 
ANNOUNCEMENT.
THE ORIGINAL ONE OF 10% HAD A 
CAPPER EMPLOYER OF $25,000 AND 
ALSO HAD A THREE-MONTH CAP FOR 
THE LENGTH OF TIME IT COULD BE 
USED.
WE DON'T HAVE ANY DETAILS YET 
AND THE PRIME MINISTER 
INDICATED WE MIGHT NOT UNTIL 
MONDAY.
ON HOW EXACTLY THIS ONE WILL 
WORK.
HE ALSO SAID QUALIFYING 
BUSINESSES WOULD BE ABLE TO 
ACCESS THIS SUBSIDY.
WE DON'T PARTICULARLY KNOW.
THERE ARE DIFFERENT WAYS THAT 
SMALL BIDS ARE DEFINED IN 
CANADA.
I COULD BE A NUMBER OF PEOPLE 
AND COULD BE, ACCORDING TO THE 
TAX CODE.
BUT I'M KEEN TO FIND OUT THE 
GRANULAR DETAILS HERE BECAUSE I 
THINK, AT THE END OF THE DAY, 
THAT WILL MATTER FOR THE SMALL 
BUSINESSES LOOK, AT THIS.
THE OTHER PART IS HOW MUCH DOES 
IT COST OVERALL BECAUSE WE'RE 
TALKING ABOUT A $700 BILLION 
AID PACKAGE.
THE PRIME MINISTER DIDN'T HAVE 
AN ANSWER WHEN ASKED ABOUT.
THAT I'M TOLD WE CAN EXPECT 
THAT FROM MINISTERS RESPONSIBLE 
FOR FILE LATER TODAY.
BUT THIS WILL CERTAINLY NOT BE 
CHEAP.
WHEN YOU ARE THINKING ABOUT 
THAT NUMBER OF 75%.
THEY'RE THE BIGGEST EMPLOYER IN 
CANADA RIGHT NOW AND IF THEY'RE 
ABLE EN MASSE TO ACCESS THIS.
BUT IT'S CERTAINLY NEEDED.
>> Rosemary: LET ME TAKE NO 
CREDIT FOR THE MATH I'M ABOUT 
TO GIVE YOU HERE BUT FULL 
CREDIT TO MY PRODUCER.
HE CALCULATED WE EXPECTED THE 
10% WAGE SUBSIDY TO BE ALMOST 
$4 BILLION.
$3.8 BILLION.
IF WE TAKE A SAME CRITERIA, THE 
THREE MONTHS AND THE SAME WAGE 
CAP, WHICH WE DON'T KNOW IS 
ACCURATE, WE'RE CLOSER TO $30 
BILLION JUST BASTED ON THAT 
ALONE.
IT IS A HUGE AMOUNT OF MONEY.
AS WE SEE THE GOVERNMENT 
WRITING BIG POLICIES ON THE FLY 
AS IT'S DEALING WITH THINGS 
THROWN A IT CONSTANTLY, 
SOMETIMES YOU HAVE TO WAIT FOR 
THE DETAILS LONGER.
BUT IT IS CRITICAL TO THE SMALL 
BUSINESS OWNERS.
>> Reporter: YEAH.
I'M ALREADY GETTING TEXT AND 
E-MAILS AND TWEETS ASKING ME 
DOES IT APPLY TO?
AND THE SIMPLE ANSWER RIGHT NOW 
IS WE JUST DON'T KNOW.
DR. RYAN WITH THE W.H.O. SAID 
SPEED OVER PRECISION IS HOW YOU 
NEED TO DEAL WITH THE VIRUS AND 
TAKING THE SAME APPROACH IN 
DEALING WITH THE ECONOMY AND 
QUICKLY GETTING THIS OUT THE 
DOOR TO RE-ASSURE PEOPLE AND 
LET THEM KNOW THAT THIS LEVEL 
OF HELP IS COMING AND THE 
NITTY-GRITTY DETAILS WILL COME 
A LITTLE BIT LATER SO THAT 
PEOPLE CAN BROADLY MAKE 
INFORMED DECISIONS ON WHAT HELP 
WILL BE THERE.
IN A LITTLE BIT OF THE WAY THE 
EMERGENCY RESPONSE BENEFIT, THE 
$2,000 FOR INDIVIDUALS, THE WAY 
THAT TRIES TO PUT A FLOOR UNDER 
FAMILIES AND HOUSEHOLDS, THIS 
SEEMS TO ME IS TRYING TO PUT A 
FLOOR UNDER NEIGHBOURHOODS.
WHEN PEOPLE CAN GO OUT AGAIN 
AND SPENDING AGAIN AND ENDING 
THE PHYSICAL DISTANCING AND 
SOCIAL EMBRACING THEY NEED 
SOMEWHERE TO GO.
YOU NEED YOUR RESTAURANTS 
ANSWER YOUR BARS AND YOU NEED 
THOSE PLACES WORKING AND YOUR 
IMPORT-EXPORT COMPANIES TO 
SURVIVE BECAUSE THERE IS SORT 
OF THE SURVIVAL SITUATION WE'RE 
IN OF GETTING THROUGH THIS 
PERIOD OF ISOLATION AND 
CLAMPING DOWN ON THE ECONOMY 
AND THEN THERE IS THAT RECOVERY 
PERIOD.
AND WHAT THEY SAW A DECADE OR 
SO AGO IN THE GREAT RECESSION 
WAS THAT A LOT OF COMPANIES 
WEREN'T ABLE TO COME BACK 
BECAUSE THERE WAS NO BOTTOM FOR 
THEM AND IT MADE IT IMPOSSIBLE 
TO KEEP THEIR OPERATION.
THEY LOST THE WORKFORCE AND 
COULDN'T BRING THEM BACK.
THIS IS AN ATTEMPT TO KEEP 
THINGS AS WHOLE AND IN TACT AS 
POSSIBLE WITH THE DETAILS, THE 
FINER DETAILS T.B.D. 
THOSE WILL BE IN PLACE BY 
MONDAY IS WHAT THE PRIME 
MINISTER IS ASSURING EVERYONE.
>> Rosemary: OK.
WE'RE GOING FOR SOME REACTION 
TO A SMALL BUSINESS OWNER, THE 
OWNER OF FOX AND JANES SALON IN 
TORONTO AND SHE SHUT DOWN HER 
BUSINESS DUE TO COVID-19.
KRISTIN, I DON'T KNOW IF YOU 
HEARD THERE WHAT THE PRIME 
MINISTER SAID, BUT THE 
GOVERNMENT IS WILLING TO GIVE 
SMALL AND MEDIUM-SIZED BIDS 75% 
WAGE SIX DID.
WHAT WOULD THAT DO FOR YOU?
>> Caller: YEAH.
AS A SMALL BUSINESS OWNER, I 
THINK THAT I CAN SPEAK FOR ALL 
OF US WHEN I SAY WE'RE KEEPING 
OUR EYES AND EARS GLUED TO 
EVERYTHING THAT THE PRIME 
MINISTER IS SAYING RIGHT NOW.
FOR US, I THINK WHAT HE'S BEEN 
SAYING ABOUT THE DETAILS REALLY 
IS WHERE WE'RE WAITING RIGHT 
NOW.
I'M A SALON OWNER.
WE HAVE EMPLOYEES BUT THEY WORK 
ON COMMISSIONS SO WE'LL STILL 
HAVE TO SEE HOW THAT APPLIES.
HAVING ACCESS TO A LOAN FROM 
THE BANKS, THAT IS 
INTEREST-FREE FOR A YEAR IS 
DEFINITELY A GOOD START FOR 
SURE.
AND I THINK JUST LUCKY THAT WE 
ARE MOVING SO QUICKLY ON THIS 
TO BEGIN WITH.
>> Rosemary: YOU HAD TO LAY OFF 
SOME OF YOUR STYLISTS IN THE 
SALON?
IS THAT WHAT YOU DECIDED TO DO?
>> YEAH.
WE CLOSED RIGHT AWAY, ACTUALLY.
WE WERE TRYING TO PREVENT ANY 
FURTHER CONTAMINATION OR JUST 
SOCIAL DISTANCE OURSELVES 
BEFORE WE WERE EVEN MANDATED TO 
DO IT AND A LOT OF SALONS IN 
TORONTO DID THAT.
SO WE DEFINITELY HAD TO GIVE 
OUR EMPLOYEES LEAVE OF ABSENCES.
>> Rosemary: AND THE PRIME 
MINISTER IS SAYING THIS WAGE 
SUBSIDY, LET'S ASSUME YOU MIGHT 
QUALIFY, BUT I TAKE YOUR POINT 
THERE'S DETAILS TO COME ON 
MONDAY.
HE SAYS IT COULD BE BACK DATED 
TO MARCH 15 AND WAS ENCOURAGING 
SMALL BUSINESSS TO HIRE 
EMPLOYEES BACK JUST TO MAKE 
SURE THAT EVERYBODY WAS SORT OF 
TAKEN CARE OF.
IS THAT SOMETHING YOU WOULD DO 
IF YOU ARE, INDEED, ELIGIBLE?
>> YEAH.
IF WE'RE ELIGIBLE, IT IS A 
GREAT MOVE.
I THINK IT ISINGSOME, AGAIN, 
IT'S REALLY HARD TO SPEAK TO 
YES OR NO WITH MORE DETAILS AND 
HOPEFULLY ON MONDAY THE PRIME 
MINISTER WILL LAY THAT OUT IN A 
MORE CLEAR PLAN FOR US.
YEAH.
WE'VE BEEN LISTENING AND I'VE 
BEEN TALKING TO SOME OF MY 
FRIENDS THAT ARE OTHER SALON 
OWNERS IN TORONTO AND OUR 
QUESTION IS HOW DOES THAT APPLY 
TO US AS, IN PARTICULAR, OUR 
INDUSTRY AS SALON OWNERS BUT 
DEFINITELY SMALL BUSINESSES IN 
THE COUNTRY FOR SURE.
>> Rosemary: HOW HAVE YOU BEEN 
DEALING WITH THE STRESS OF THIS?
HAVING A BUSINESS OF YOUR OWN 
AND YOU OBVIOUSLY HAVE TO PAY 
YOURSELF AND WORRY ABOUT 
YOURSELF AND EMPLOYEES.
HOW ARE YOU COPING?
>> WELL, MY DOGS ARE LOVING IT.
WE'RE HAVING A GREAT TIME 
TOGETHER.
[LAUGHTER]
THEY'RE TIRED.
BUT, YOU KNOW, I FEEL FOR MY 
EMPLOYEES.
MY CONCERN IS MY BUSINESS, BUT 
MY EMPLOYEES.
THEY'RE AMAZING.
I LOVE THEM.
THEY'RE MY CREW.
THEY'RE MY TEAM.
I SEE THEM SO MUCH AND I MISS 
THEY WILL.
IT HAS BEEN TWO WEEKS.
LIKE I SAID, WE SHUT DOWN RIGHT 
AWAY.
BUT WE TALKED EVERY SINGLE DAY.
I THINK WE'LL HAVE A ZOOM 
MEETING WITH EACH OTHER LATER 
ON TODAY.
BUT I'M CONCERNED FOR THEM.
THEY ALL HAVE RENT AND CAR 
PAYMENTS AND A LOT OF OTHER 
PAYMENTS THAT OTHER PEOPLE DO 
AND THEY'RE NOT WORKING RIGHT 
NOW.
THEY'RE NOT MAKING ANY MONEY SO 
THAT IS A MAJOR CONCERN OF MINE.
I'VE BEEN A SALON OWNER IN THE 
CITY FOR OVER 12 YEARS AND, YOU 
KNOW, IN 2008 WHEN THIS HIT, AS 
A SALON, YOU KNOW, WE DID OK.
BUT RIGHT NOW THIS IS A 
DIFFERENT BEAST ALL TOGETHER 
BECAUSE OF SOCIAL DISTANCING.
>> Rosemary: I HOPE YOU DO 
QUALIFY AND WE'LL GET YOU MORE 
DETAILS AS SOON AS WE HAVE 
THEM, TOO.
GOOD LUCK.
>> THANK YOU SO MUCH.
>> Rosemary: WE'LL HAVE MORE 
COVERAGE ON CBC NEWS NETWORK 
AND cbc.ca.
I'M ROSEMARY BARTON.
>> Rosemary: HELLO, I'M 
ROSEMARY BARTON.
WELCOME TO OUR SPECIAL FROM 
OTTAWA.
WE'RE LIVE ON CBC NEWS NETWORK 
AND STREAMING AROUND THE WORLD 
ON OUR APP AND cbcnews.ca.
WE'RE TRACKING THE DAY'S BIG 
DEVELOPMENTS ON COVID-19 TODAY.
MUCH OF IT TO DO TODAY WITH THE 
ECONOMY.
THE LATEST MOVE BY THE BANK OF 
CANADA, TRYING TO CUSHION THE 
ECONOMIC SHOCKS FROM THE 
PANDEMIC SLASHING ITS KEY 
LENDING RATE BY 50 BASIS POINTS 
TO A DRAMATIC NEW LOW WE 
HAVEN'T SEEN SINCE THE 
RECESSION BACK IN 2008-2009 AND 
JUST MOMENTS AGO THE PRIME 
MINISTER ANNOUNCED A A MASSIVE 
BOOST IN EMERGENCY RELIEF FOR 
SMALL BUSINESS.
BUT WE HAVE ALL OF THOSE 
DETAILS.
LET ME PLAY A KIP.
-- CLIP OF THE PRIME MINISTER.
>> Prime Minister Trudeau: LAST 
WEEK, WE HAD ANNOUNCED THAT WE 
WOULD COVER 10% OF WAGES, BUT 
IT IS BECOMING CLEAR THAT WE 
NEED TO DO MORE, MUCH MORE.
SO WE'RE BRINGING THAT 
PERCENTAGE UP TO 75% FOR 
QUALIFYING BUSINESSES.
THIS MEANS THAT PEOPLE WILL 
CONTINUE TO BE PAID , EVEN IF 
THEIR EMPLOYER HAS HAD TO SLOW 
DOWN OR STOP ITS OPERATIONS 
BECAUSE OF COVID-19.
WE ARE LAUNCHING THE CANADA 
EMERGENCY BUSINESS ACCOUNT.
WITH THIS NEW MEASURE, BANKS 
WILL SOON OFFER $40,000 LOANS 
WHICH WILL BE GUARANTEED BY THE 
GOVERNMENT TO QUALIFYING 
BUSINESSES.
THE LOAN WILL BE INTEREST-FREE 
FOR THE FIRST YEAR AND IF YOU 
MEET CERTAIN CONDITIONS, 
$10,000 OF IT WILL BE 
FORGIVABLE.
OUR GOVERNMENT WILL ALSO 
PROVIDE AN ADDITIONAL $12.5 
BILLION THROUGH EXPORT 
DEVELOPMENT CANADA AND THE 
BUSINESS DEVELOPMENT BANK TO 
HELP SMALL AND MEDIUM-SIZED 
BUSINESSS WITH THEIR 
OPERATIONAL CASH FLOW 
REQUIREMENTS.
>> Rosemary: AND THAT IS THE 
PRIME MINISTER MAKING THIS NEW 
ANNOUNCEMENT TODAY IN ORDER TO 
TRY AND SHORE UP SMALL AND 
MEDIUM-SIZED BUSINESSS IN THIS 
COUNTRY.
IT COMES AFTER A FIRST ATTEMPT 
TO TRY TO HELP THEM, PROMISING 
A 10% WAGE SUBSIDY.
THE PRIME MINISTER RECOGNIZING 
TODAY THAT THAT WAS SIMPLY NOT 
GOING TO BE ENOUGH.
LET'S BRING IN VASSY KAPELOS 
AND CAMP DAVID COCHRANE.
WE'RE STANDING BY TO BRING YOU 
THE DAILY PRESS CONFERENCE FROM 
CABINET MINISTERS AND PUBLIC 
HEALTH OFFICIALS AND WORD OF 
ANOTHER PRESS CONFERENCE AT 
AROUND 1:00 P.M. EASTERN THAT 
WE'LL BRING YOU WITH THE 
FINANCE MINISTER, BILL MORNEAU.
SO I DON'T KNOW IF YOU WERE 
ABLE TO HEAR OUR INTERVIEW WITH 
THE HAIR SALON OWNER.
OBVIOUSLY SHE IS HOPEFUL.
SHE THOUGHT IT SOUNDED REALLY 
GOOD, BUT SHE HAS LOTS OF 
QUESTIONS.
SHE IS NOT SURE WILL SHE 
QUALIFY AND MANY QUESTIONS AND 
I DON'T KNOW HOW MUCH DETAIL 
WE'LL GET EVEN TODAY, VASSY.
>> Vassy: IT'S UNFORTUNATE, BUT 
IT SEEMS LIKE THE INDICATION 
WAS THEY WANTED TO GET THIS 
ANNOUNCEMENT OUT THERE AND THE 
DETAILS WOULD BE PROVIDED, I 
THINK AS EARLY AS MONDAY.
THE PRIME MINISTER SEEMED TO 
INDICATE.
I'M GETTING MESSAGES SAYING 
THAT FINANCE MINISTER BILL 
MORNEAU MIGHT HAVE THE ANSWERS 
BUT I THINK THAT THOSE GRANULAR 
DETAILS ARE SIGNIFICANT AND 
YOUR GUEST EXPLAINED IT BETTER 
THAN I EVER COULD.
SMALL BUSINESSS ARE NOT JUST A 
UNIFORMED, HOMOGENOUS GROUP.
THEY HAVE DIFFERENT 
CIRCUMSTANCES IN WHICH 
EMPLOYEES ARE PAID DIFFERENTLY.
FOR EXAMPLE, IN HER EXAMPLE, IT 
IS A COMMISSION BASIS AND A LOT 
OF RETAIL BUSINESSES OPERATE 
THAT WAY.
IN WHICH WAY WILL THIS APPLY TO 
THEM?
I BRING UP THE FACT THAT THAT 
ORIGINAL 10% WAGE SUBSIDY THAT 
WAS PART OF THE FIRST 
ANNOUNCEMENT OF FINANCIAL AID 
FROM THIS GOVERNMENT HAD 
CONSTRAINTS AROUND IT FOR A 
MAXIMUM OF THREE MONTHS AND 
MAXIMUM OF $25,000 PER EMPLOYER.
SNOBSINGER WHAT WAY WILL THOSE 
CONSTRAINTS BE APPLIED THIS 
TIME?
WILL THEY BE LOOSENED?
IF THE SAME CAP IS APPLIED, IT 
DOESN'T LAST LONG FOR AN 
EMPLOYER AND GIVEN THE 
PROJECTIONS THAT WE'RE SEEING 
TODAY FROM OTHER FINANCIAL 
FIGURES LIKE, FOR EXAMPLE, THE 
PARLIAMENTARY BUDGET OFFICER 
THAT THIS COULD LAST A NUMBER 
OF MORE MONTHS EVEN AS FAR AS 
THE END OF THE SUMMER.
IT DOESN'T MEAN THAT IT WILL BE 
EXTEND LONGER BECAUSE PAYROLL 
IS SOMETHING YOU NEED REVENUE 
TO MEET.
AND THAT IS SOMETHING THAT WE 
HEARD LOUTED AND CLEAR FROM 
EVERY SMALL BUSINESS OWNER.
IF YOU CONTINUE TO NOT BE ABLE 
TO ACCESS THAT REVENUE BECAUSE 
EVERYTHING IS SHUT DOWN, 
INCLUDING YOUR BUSINESS AND 
PEOPLE ARE STAYING INSIDE, IT'S 
NOT LIKE IN THREE MONTHS YOU 
WILL ALL OF A SUDDEN BE ABLE TO 
MEET THE PAYROLL.
I'M VERY KEEN TO FIND OUT IF 
THE FINANCE MINISTER DOES HAVE 
THOSE DETAILS BECAUSE I DO 
THINK WHETHER OR NOT YOU 
QUALIFY AND TO WHAT DEGREE IS 
GOING TO BE, YOU KNOW, MAKE THE 
DIFFERENCE FOR EVERYBODY WHO'S 
VERY KEEN FOR THIS ANNOUNCEMENT.
>> Rosemary: LET ME FLAG TO THE 
CONTROL ROOM.
I'M NOT SURE YOU'RE SEEING I.
BUT THERE IS A DISTORTED FRENCH 
SIGNAL IN MY EAR.
I THINK IT IS RADIO-CANADA 
BLEEDING INTO MY EAR AS WE'RE 
TALKING.
IT'S DEFINITELY THERE.
IF WE COULD JUST -- BECAUSE I 
CAN FUNCTION IN BOTH LANGUAGES, 
BUT I WILL START TO GET 
CONFUSED.
MAYBE WE CAN TAKE CARE OF THAT.
DAVID, WHY DON'T YOU GO THROUGH 
THAT BANK OF CANADA RATE CUT 
BECAUSE I THINK WE'LL HEAR MORE 
FROM THE FINANCE MINISTER ON 
HOW SIGNIFICANT THAT IS IN 
TERMS OF, AS YOU SAID, THIS IS 
ALL ABOUT -- AND THINK THE 
GOVERNOR OF THE BANK OF CANADA 
SAID, TOO, IT'S ALL ABOUT 
SHORING UP PARTS OF ECONOMY TO 
GET THROUGH THIS AND THEN BACK 
OUT THE OTHER SIDE.
>> Reporter: WE'RE SEEING A 
ONE-TWO PUNCH ALL AT ONCE.
THERE'S NOT MUCH MORE THAT THEY 
CAN DO ON THE INTEREST RATE 
SIDE.
THEY CUT THEIR RATES BY HALF A 
PERCENTAGE POINT .25% AND THAT 
IS AS LOW AS STEPHEN POLOZ SAYS 
HE IS GOING TO BRING IT.
ESSENTIALLY WHAT IS GOING TO 
HAPPEN IS THE BANK, EVERY WEEK 
UNTIL THIS IS OVER AND INTO 
RECOVERY, IS GOING TO BUY $5 
BILLION WORTH OF GOVERNMENT 
BONDS TO PUT MONEY INTO THE 
ECONOMY TO INCREASE THE MONEY 
SUPPLY AND MAKE SURE THAT THE 
MAJOR BANKS ARE GOING TO HAVE 
ENOUGH CASH TO KEEP GIVING 
PEOPLE MONEY AND KEEP THE 
LIQUIDITY IN THE ECONOMY.
THIS IS A MASSIVE MOVE BY 
STEPHEN POLOZ, SAYING THAT 
ESSENTIALLY A FIREFIGHTER NEVER 
GETS CRITICIZED FOR NEVER USING 
TOO MUCH WATER AND THIS IS A 
DELUGE THAT HE IS PUTTING INTO 
THE ECONOMY AND THAT IS BACKED 
UP NOW BY THIS SIGNIFICANT 
PIVOT ON THE SPENDING SIDE BY 
THE GOVERNMENT OF CANADA TO 
BOOST THE WAGE SUBSIDY FROM 10% 
TO 75% FOR SMALL AND 
MEDIUM-SIZED ENTERPRISES.
BACK DATE THAT TO MARCH 15.
WE'RE ASKING THE QUALIFICATIONS 
ON THIS AND WHAT'S GOING HAPPEN 
THERE.
WHAT I'M BEING KNOLLED A LIVE 
TEXT CONVERSATION WITH A SENIOR 
GOVERNMENT OFFICIAL THAT ON THE 
WAGE SUBSIDY, IT IS GOING TO 
FOCUS ON SMALL AND MEDIUM-SIZED 
ENTERPRISES AS BROADLY AS 
POSSIBLE.
WE WANT TO MAKE SURE THAT AS 
MANY COMPANIES AS POSSIBLE 
QUALIFY FOR THIS SUPPORT.
JUST LIKE THEY DID WITH THE 
REVISED EMERGENCY RELIEF 
BENEFIT THAT WAS ANNOUNCED THIS 
WEEK THAT KEPT BROADENING IT 
AND BROADENING IT AND 
BROADENING IT.
SO THE FLOOR THAT THEY PUT 
UNDER THE CANADIAN ECONOMY IS 
AS WIDE AS POSSIBLE.
AND TO HELP THEM WITH CASH 
FLOW, THE BANK OF CANADA HAS 
MADE NORMAL LOANS MUCH, MUCH 
CHEAPER.
THEY ARE GOING TO CREATE THE 
CANADA EMERGENCY BUSINESS 
ACCOUNT THAT WILL ALLOW SMALL 
AND MEDIUM-SIZED ENTERPRISES TO 
QUALIFY FOR A $40,000 LOAN.
THAT IS INTEREST-FREE FOR ONE 
YEAR IF YOU MEET SPECIFIC 
CONDITIONS WHICH WE DON'T KNOW 
YET WHAT THOSE CONDITIONS ARE, 
THE FIRST $10,000 COULD BE 
FORGIVEN.
AS WELL, H.S.T., G.S.T. AND 
IMPORT PAYMENTS THAT WERE DUE 
SOON, THOSE ARE DEFERRED UNTIL 
JUNE.
THAT IS ANOTHER $30 BILLION IN 
REMITTANCES THAT COMPANIES 
WON'T HAVE TO MAKE TO THE 
GOVERNMENT.
THAT'S ON TOP OF TAX DEFERRALS 
UNTIL DECEMBER ON THE INCOME 
TAX SIDE.
THAT IS $85 BILLION IN TAXES 
AND REMITTANCES THAT ARE NOW 
ALLOWED TO STAY WITH THE 
COMPANY.
SO IT IS NOT A PERMANENT 
SOLUTION BUT A TEMPORARY 
MEASURE.
IT ALLOWS THEM TO KEEP CASH AND 
THEIR HEAD ABOVE WATER AS THEY 
TRY TO FLOOD THE ECONOMY WITH 
MORE HELP.
>> Rosemary: THE CANADIAN 
FEDERATION OF INDEPENDENT 
BUSINESSES -- THIS IS THE WAGE 
SUBSIDY, THIS IS ABOUT WHAT 
THEY WERE ASKING FOR AND ON 
TWITTER AT ANY RATE, THEIR 
TWITTER HAS HAD A POSITIVE 
REACTION.
BUT POINTS OUT A FEW THINGS IN 
TERMS OF DETAILS THAT WE DON'T 
HAVE, ASKING THESE QUESTIONS -- 
WILL IT INCLUDE PARTNERSHIPS OR 
UNINCORPORATED BUSINESSES.
WHAT IS THE CAP FOR EMPLOYEE, 
AS VASSY MENTIONED.
I WAS $25,000 UNDER THE 
PREVIOUS VERSION AND HOW LONG 
WILL IT LAST AGAIN?
THE PREVIOUS VERSION SAID THREE 
MONTHS.
WE WILL WAIT FOR THOSE DETAILS 
IN THE DAYS AHEAD.
IT'S IMPORTANT TO REALISE THE 
BREAKNECK SPEED AT WHICH WE'RE 
SEEING GOVERNMENTS AND 
GOVERNMENTS AROUND THE WORLD 
REACT TO THESE PANDEMIC.
THESE ARE THINGS THAT USUALLY 
TAKE MONTHS AND MONTHS OF 
PLANNING AND CALCULATING AND 
TRYING TO CONSULT AND TALK TO 
LOBBYISTS AND GET EVERYBODY ON 
SIDE.
NOW BEING DONE IN A MATTER OF 
DAYS.
STIEFMS THE FIRST TIME OUT OF 
THE GATE IS NOT THE RIGHT 
ANSWER.
AS THE GOVERNMENT RECOGNIZED 
BOTH WITH THE EMERGENCY BENEFIT 
AND WITH THIS WAGE SUBSIDY AND 
SOMETIMES THE DETAILS AS THE 
DEPUTY PRIME MINISTER HAS SAID 
TIME AND AGAIN WON'T COME RIGHT 
AWAY BECAUSE THEY ARE TRYING TO 
SEND A SIGNAL TO CANADIANS AND 
THE ECONOMY ABOUT WHAT THEY'RE 
ATTEMPTING TO DO.
I DID WANT TO GET PETER 
ARMSTRONG IN.
BUT I THINK I HAVE TO HAVE HIM 
WAIT IF HE DOESN'T MIND.
BECAUSE THE DEPUTY PRIME 
MINISTER AND THE CO-CHAIR AND 
PRESIDENT OF THE TREASURY BOARD 
ARE COMING IN TO GIVE THEIR 
DAILY UPDATE TO THE 
GOVERNMENT'S RESPONSE TO 
COVID-19 AS WELL AS INFORMATION 
FROM THE PUBLIC HEALTH AGENCY, 
NEW DETAILS ABOUT CASES AND HOW 
THEY ARE TREATED AND I BELIEVE 
IT IS THIS DEPUTY PUBLIC HEALTH 
OFFICER, DR. NJOO.
LET'S LISTEN IN LIVE TO THEM 
NOW.
>> OK!
[SPEAKING FRENCH].
HELLO, EVERYONE.
SORRY TO BE LATE.
[SPEAKING FRENCH].
>> Interpreter: THANK YOU VERY 
MUCH FOR BEING WITH US TODAY.
I APOLOGIZE FOR BEING LATE AND 
THANK YOU FOR WAITING.
IT IS A DAILY REMINDER TO 
CANADIANS THAT WE MUST PRACTICE 
SOCIAL DISTANCING.
PLEASE STAY AT HOME UNLESS YOU 
ARE DOING ESSENTIAL WORK LIKE 
STOCKING OUR GROCERY SHELVES OR 
WORKING IN HEALTH CARE.
I KNOW THAT THIS IS REALLY HARD.
BUT THIS IS OUR COUNTRY'S BEST 
DEFENCE AGAINST THIS GLOBAL 
PANDEMIC.
PLEASE KEEP IT UP, EVERYONE.
EEL START BY REMINDING EVERYONE 
DAILY THAT WE HAVE TO PRACTICE 
PHYSICAL DISTANCING.
STAY HOME.
AND EXCEPT UNLESS YOU HAVE TO 
DO A CENTRAL  -- ESSENTIAL TASK 
SUCH AS STOCKING UP ON 
GROCERIES OR IF YOU NEED HEALTH 
CARE.
I KNOW THAT IT'S DIFFICULT.
BUT THIS IS OUR BEST DEFENCE 
AGAINST THIS VIRUS.
>> WE WILL HEAR FROM CANADA'S 
CHIEF PUBLIC HEALTH OFFICER, 
DR. HOWARD NJOO.
[SPEAKING FRENCH].
>> Interpreter: AND WE'LL HEAR 
FROM MY DEAR COLLEAGUE, THE 
PRESIDENT OF THE TREASURY BOARD.
>> [SPEAKING FRENCH].
GLOBALLY OVER 530,000 CASES OF 
COVID-19 ARE AFFECTING ALL 
COUNTRIES.
IN CANADA, THERE ARE 4043 CASES 
INCLUDING 39 DEATHS.
THESE ARE BASED ON 
UP-TO-THE-MINUTE COVID-19 
LABORATORY TESTING RESULTSFUL 
BUT IT IS IMPORTANT TO KNOW 
THAT AT ANY POINT IN TIME, 
THERE ARE MANY OTHER PEOPLE 
UNDER INVESTIGATION AWAITING 
LABORATORY TESTS OR NOT BEING 
TESTED AT ALL.
FOR THIS REASON, EVEN IF WE ARE 
NOT HEARING OF CASES IN YOUR 
COMMUNITY, IT DOESN'T MEAN 
THERE ARE NO CASES OR THAT 
THERE ARE NO EXPOSURES WAITING 
TO HAPPEN.
WE HAVE NOW TESTED OVER 165,000 
PEOPLE IN CANADA, WHICH IS MORE 
THAN 65 ,000 ADDITIONAL PEOPLE 
TESTED SINCE MONDAY.
ON A PER CAPITA BASIS, THAT IS 
ONE OF HIGHEST RATES IN THE 
WORLD.
IN TERMS OF SEVERITY OF 
COVID-19 IN CANADA, THE 
PERCENTAGE OF CASES THAT 
REQUIRE HOSPITALIZATION REMAINS 
AT ABOUT 6%.
THOSE WHO ARE CRITICALLY ILL 
ACCOUNT FOR ABOUT 2.5% OF CASES 
AND% OF CASES HAVE BEEN FATAL.
THE FATALITY RATE WILL BE 
HIGHER AMONG HIGH-RISK 
POPULATIONS, WHICH IS WHY WE 
MUST DO ALL WE CAN TO PROTECT 
THE MOST VULNERABLE AMONG US.
ANOTHER CAUSE OF INCREASED 
MORTALITY IS OVERWHELMED HEALTH 
SERVICES THAT ARE UNABLE TO 
PROVIDE INTENSIVE CARE TO A 
HIGH VOLUME OF CRITICAL CARE.
FOR THIS REASON WE MUST WORK TO 
FLATTEN THE EPIDEMIC CURVE AND 
PROTECT THE HEALTH CARE SYSTEM.
[SPEAKING FRENCH] I WOULD LIKE 
TO REMIND CANADIANS OF ALL AGES 
DO NOT UNDERESTIMATE THE 
SEVERITY OF THISEs THE.
EVERY CANADIAN MUST FOLLOW THE 
ADVICE OF PUBLIC HEALTH AND 
HEED THE DIRED WARNINGS FROM 
OTHER COUNTRIES WHO DID NOT 
HAVE THE CHANCE TO START SOON 
ENOUGH OR FIGHT HARD ENOUGH.
WE ALL MUST QUICKLY ADHERE TO 
PHYSICAL DISTANCING, COMPLY 
WITH SELF-ISOLATION ORDERS AND 
PROTECT AND SUPPORT THOSE WHO 
ARE MOST VULNERABLE.
>> DO NOT UNDERESTIMATE THE 
SEVERITY OF THIS DISEASE.
EVERY CANADIAN MUST FOLLOW THE 
ADVICE OF PUBLIC HEALTH AND 
HEED THE DIRE WARNINGS FROM 
OTHER COUNTRIES WHO DID NOT 
HAVE THE CHANCE TO START SOON 
ENOUGH OR FIGHT HARD ENOUGH.
WE MUST ALL STRICTLY MAINTAIN 
PHYSICAL DISTANCE AND COMPLY 
WITH QUARANTINE AND 
SELF-ISOLATION ORDERS AND 
SUPPORT THOSE WHO ARE MOST 
VULNERABLE.
[SPEAKING FRENCH].
>> Interpreter: NEW ZEALAND HAS 
INTRODUCE ADD CONCEPT OF 
STAYING INSIDE YOUR BUBBLE AND 
KNOWING WHAT THIS BUBBLE IS.
IT'S A GREAT WAY TO 
CONCEPTIALIZE THIS ZONE OF 
PROTECTION THAT WE NEED TO HAVE 
AROUND US TO KEEP.
THE VIRUS OUT.
FRENCH THE OPTIMAL PROTECTION 
COMES WHEN EACH PERSON HAS 
THEIR OWN SEPARATE BUBBLE THAT 
IS A TWO-METRE CIRCUMFERENCE 
AROUND US.
BUT FOR COUPLES, FAMILIES AND 
OTHER  COHABITATION SITUATIONS 
THAT MIGHT MEAN TWO OR FOUR OR 
SIX PEOPLE ALL KEEPING WITHIN A 
BUBBLE THAT NO ONE ELSE COMES 
INTO.
WHATEVER YOUR SITUATION IS, 
STAY IN YOUR BUBBLE AND PLEASE 
DON'T STEP OUTSIDE OF IT OR 
BURST ANYONE ELSE'S BUBBLE.
>> INTRODUCING THE CONCEPT OF 
KNOWING AND STAYING INSIDE YOUR 
BUBBLE.
THISES A GREAT WAY TO 
CONCEPTIALIZE THE ZONE OF 
PROTECTION THAT WE NEED TO HAVE 
AROUND US TO KEEP THE VIRUS OUT.
THE OPTIMAL PROTECTION COMES 
WHEN EACH PERSON HAS THEIR OWN 
SEPARATE BUBBLE THAT IS A 
TWO-METRE CIRCUMFERENCE AROUND 
US.
BUT FOR COUPLES AND FAMILIES 
AND OTHER COHABITATION 
SITUATIONS THAT BUBBLE MIGHT 
MEAN TWO OR FOUR OR SIX PEOPLE 
ALL KEEPING WITHIN A FWHAUBL NO 
ONE ELSE COMES INTO.
WHATEVER YOUR SITUATION IS, 
STAY IN YOUR BUBBLE.
AND PLEASE DON'T STEP OUTSIDE 
OF IT AND DON'T BURST ANYONE 
ELSE'S BUBBLE.
THANK YOU.
MERCI.
>> OK.
THANK YOU VERY MUCH, DR. NJOO.
>> [SPEAKING FRENCH].
>> Interpreter: THANK YOU VERY 
MUCH, CHRYSTIA.
WHAT'S HAPPENING RIGHT NOW TO 
THE CANADIAN ECONOMY, IT'S LIKE 
A PLANE STUCK IN A MAJOR STORM 
AND WE'RE TRYING TO LAND THIS 
PLANE, KEEPING PASSENGERS SAFE.
AND THAT IS EXACTLY WHAT WE DID 
TWO YEARS AGO WITH THE CANADA 
EMERGENCY RESPONSE BENEFIT THAT 
HELPS WORKERS SO THAT WE CAN 
LAND THIS PLANE AND THAT 
WORKERS LAND SAFELY AND PROTECT 
THEIR HEALTH.
WE'RE GOING TO GIVE PEOPLE 
$2,000 A MONTH SO THAT THEY CAN 
TAKE CARE OF THEIR HEALTH AND 
THAT OF THEIR LOVED ONES AND WE 
ALSO WANT TO ENSURE THEIR 
ECONOMIC SECURITY SO THEY CAN 
PUT BREAD ON THE TABLE.
TODAY'S ANNOUNCEMENT IS THE 
NEXT STEP.
IT IS TO PROTECT THE INTEGRITY 
OF THE PLANE ITSELF.
THIS ECONOMIC PLANE IS 
EXTREMELY IMPORTANT TO PRI PAIR 
THE REBOUND THAT WILL HAPPEN 
AFTERWARDS.
WE HAVE TO ENSURE THAT THIS 
PLANE IS PROTECTED.
WE HAVE TO MAINTAIN THE CENTRAL 
ENGINE OF THE PLANE.
NAMELY, SMALL AND MEDIUM-SIZED 
ENTERPRISES TO ENSURE THE 
GROWTH OF OUR ECONOMY AND THAT 
IS WHY WE'RE ANNOUNCING TODAY 
THE CANADIAN EMERGENCY BUSINESS 
ACCOUNT FOR BUSINESSES.
WE WANT TO GIVE THEM QUICKLY 
FUNDING TO HELP S.M.E.s IN 
COMING WEEKS AND MONTHS.
THE SECOND MEASURE IS JUST AS 
IMPORTANT AS
>> A 75% WAGE SUBSIDY FOR THE 
LARGE MAJORITY OF COMPANIES 
THAT WANT TO CONTINUE TO WORK 
AND HIRE EMPLOYEES BUT THEY 
NEED LIQUIDITY.
THEY NEED MONEY TO KEEP THEIR 
EMPLOYEES AND KEEP PAYING 
SALARIS TO THEIR WORKERS.
THESE ARE MAJOR MEASURES SO 
THAT WE CAN MAKE OUR PLANES 
SAFE AND SO THAT WE DO TAKE OFF 
IN A FEW WEEKS SO THAT WE CAN 
DO SO WITH A SOLID ECONOMIC 
PLANE THAT PROTECTS WORKERS AND 
WE'LL TAKE CARE OF THEM IN THE 
COMING WEEKS AND MONTHS.
>> THANK YOU.
HAVE.
WE'RE READY TO TAKE YOUR 
QUESTIONS NOW.
>> THREE QUESTIONS FROM THE 
PHONE.
>> THANK YOU.
MERCI.
WE'LL NOW TAKE QUESTIONS FROM 
THE TELEPHONE LINES.
PLEASE PRESS STAR 1 AT THIS 
TIME IF YOU HAVE A QUESTION.
S'IL VOUS PLAIT.
OUR FIRST QUESTION, PLEASE GO 
AHEAD.
YOUR LINE IS NOW OPEN.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: THANK YOU.
MS. FREELAND, THE DISCUSSIONS 
THAT YOU'VE HAD WITH RESPECT TO 
U.S. TROOPS AT THE BORDER, ARE 
THESE OVER?
DO YOU HAVE ANY ASSURANCES FROM 
THE U.S. GOVERNMENT THAT THIS 
IDEA HAS BEEN SET ASIDE?
ANSWER -- 
FOR THE AMERICANS?
WELL IT'S UP TO THEM TO MAKE 
ANNOUNCEMENTS WITH RESPECT TO 
THEIR DECISIONS.
I CAN TELL YOU THAT YESTERDAY 
AND TODAY WE CONTINUE 
DISCUSSIONS WITH -- ON THIS 
TOPIC WITH OUR U.S. ALLIES.
AND I BELIEVE AND HOPE THAT 
THEY WERE LISTENING.
CANADA'S POSITION WAS 
ABSOLUTELY CLEAR AND STRONG.
WE EXPLAINED THAT, IN OUR 
OPINION, HAVING TROOPS AT THE 
BORDERS, AT THE 
CANADIAN-AMERICAN BORDER IS NOT 
NECESSARY AND WE EXPLAINED 
THAT, FOR US, A MEASURE SUCH AS 
THIS.
-WELL, WE SHOULD ACTUALLY BE 
MANAGING OUR BILATERAL 
RELATIONSHIP.
>> SO, IT IS REALLY FOR OUR 
AMERICAN NEIGHBOURS AND ALLIS 
TO MAKE ANNOUNCEMENTS ABOUT 
THEIR POSITION.
HAVING SAID THAT, WE HAVE KOND 
OUR DISCUSSIONS VERY 
ENERGETICALLY YESTERDAY AND 
TODAY.
I WAS IN TOUCH LAST NIGHT AND 
THIS MORNING WITH OUR 
AMBASSADOR, AMBASSADOR HILLMAN 
TO THE UNITED STATES.
CANADA HAS CONTINUED TO EXPRESS 
CLEARLY AND FORCEFULLY ITS VIEW 
THAT THERE IS NO LOGICAL REASON 
TO MILITARIZE OUR BORDER WITH 
THE UNITED STATES.
AND WE HAVE BEEN VERY CLEAR 
ALSO THAT SUCH AN ACTION WOULD 
DAMAGE OUR RELATIONSHIP.
>> Reporter: OUR SECOND 
QUESTION IS FOR DR. NJOO.
I WOULD LIKE TO KNOW WHAT IS 
THE GOVERNMENT -- WHAT ARE YOU 
DOING TO HELP PROVINCES TO 
ACCELERATE THE SCREENING 
ANALYSIS PROCESS.
WE'VE SEEN A LARGE GAP BETWEEN 
THE VARIOUS PROVINCES.
FOR EXAMPLE, THOUSANDS OF 
PEOPLE WAITING IN ONTARIO.
WHAT ARE YOU DOING IN THIS 
RESPECT?
ALSO, GIVEN WHAT YOU ARE SEEING 
RIGHT NOW, DO YOU THINK THAT 
THE MEASURES THAT HAVE BEEN 
TAKEN TO DATE COULD HELP TO 
FLATTENING THE CURVE?
>> Interpreter: THANK YOU FOR 
YOUR QUESTION.
TECHNICALLY, DR. TAM AND MYSELF 
HAVE WORKED CLOSELY WITH OUR 
PROVINCIAL AND TERRITORIAL 
COUNTERPARTS AND MINISTERS FROM 
ALL OF THESE AREAS.
THIS IS A KEY ISSUE AND WE 
CONTINUE TO WORK ON THIS.
TO HELP PROVINCES WITH THEIR 
ABILITY TO ANALYZE THE SAMPLES 
FOR COVID-19.
TO DATE, WE KNOW THAT CAPACITY 
IS SOMETHING WE CAN SUPPORT BY 
BULK PURCHASING RESOURCES SUCH 
AS TEST TUBES AND OTHER KEY 
MATERIAL FOR LAB ANALYSIS.
BUT AT THE SAME TIME, WE 
CONTINUE TO ACCELERATE, 
EVALUATING OTHER TECHNOLOGIES.
FOR EXAMPLE, IN ENGLISH, THERE 
IS PORT OF CARE AND RAPID 
TESTING.
AND THAT IS SOMETHING WE'RE 
WORK ON WITH OUR COLLEAGUES AND 
OUR NATIONAL LABORATORY.
WE WANT TO USE ANOTHER NEW 
TECHNOLOGY AND WE HAVE TO 
VALIDATE IT.
IF WE DO USE A TEST THAT IS NOT 
RELIABLE, IT COULD LEAD TO 
FALSE POSITIVE OR FALSE 
NEGATIVE RESULTS SO WE DO HAVE 
TO DO THE NECESSARY WORK TO 
ENSURE THAT IF WE DO USE OTHER 
TECHNOLOGY FOR TESTING.
AND WE'RE ALSO CONTINUING TO 
WORK ON ANOTHER ASPECT.
WE'RE LOOKING AT OTHER 
TECHNOLOGIES.
SO WE'RE LOOKING AT ALL MEANS 
NECESSARY.
WE'RE WORKING CLOSE WITH OUR 
COUNTERPARTS TO ENSURE THAT 
CANADIANS STILL HAVE ACCESS TO 
THE NECESSARY TESTING.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION IS FROM 
JANICE DICKSON WITH THE "GLOBE 
AND MAIL".
PLEASE GO AHEAD.
>> Reporter: HI.
MY QUESTION IS FOR DEPUTY PRIME 
MINISTER FREELAND.
I'M WONDERING IF YOU CAN TELL 
ME THAT CANADA KNEW THAT THE 
U.S. WOULD DEPORT 
ASYLUM-SEEKERS TURNED BACK AT 
CANADA'S BORDER WHEN IT STRUCK 
A DEAL LAST WEEK.
>> THANK YOU FOR THE QUESTION, 
JANICE.
THAT IS AN ISSUE WHICH WE ARE 
CURRENTLY DISCUSSING  URGENTLY 
WITH OUR AMERICAN PARTNERS.
IT IS VERY IMPORTANT TO CANTING 
DA TO ABIDE BY OUR 
INTERNATIONAL COMMITMENTS, VERY 
MUCH INCLUDING WHEN IT COMES TO 
REFUGEES.
WE ARE AWARE OF THE PROBLEMS OF 
ONE CASE AND IT WAS AND 
CONTINUES TO BE IMPORTANT FOR 
CANADA TO HAVE ASSUMPTIONS THAT 
THAT WOULD NOT HAPPEN TO PEOPLE 
RETURNED TO THE UNITED STATES.
SO THIS IS AN ISSUE WHICH WE 
ARE URGENTLY DISCUSSING NOW.
>> Reporter: WOULD CANADA 
CONSIDER REVERSING THE POLICY 
AGAIN IF THERE IS EVIDENCE THAT 
THE U.S. IS GOING TO DEPORT 
THOSE PEOPLE?
>> I ALWAYS THINK 
NECESSARYINGING NEGS ARE BEST 
CONDUCTED IN PRIVATE AND A I 
DON'T LIKE DEALING IN 
HYPOTHETICALS.
BUT LET ME BE CLEAR ABOUT 
CANADA'S POSITION.
WHICH IS IT IS IMPORTANT FOR US 
TO ABIDE BY OUR INTERNATIONAL 
COMMITMENTS WHEN IT COMES TO 
THE TREATMENTS OF REFUGEE 
ANSWER WE ARE VERY ALIGNED TO 
CONCERNS.
THANK YOU.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION.
>>  [INAUDIBLE] CLEARLY ALIGNED 
TO THOSE CONCERNS AT THE TIME 
THAT THESE AGREEMENTS WERE 
ANNOUNCED.
>> THANK YOU, DEPUTY PRIME 
MINISTER.
NEXT QUESTION ON THE PHONE, 
PLEASE, BEFORE WE TURN TO THE 
ROOM.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION, [SPEAKING 
FRENCH] T. PLEASE GO AHEAD.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: HELLO.
I HAVE A QUESTION ABOUT TODAY'S 
ANNOUNCEMENT.
I THOUGHT THAT TWO DAYS AGO THE 
BENEFIT THAT WOULD HELP WORKERS 
TO KEEP THEIR LINKER TO 
EMPLOYERS.
HOW COME WE NEED TO ANNOUNCE 
TODAY THIS NEW MEASURE, THIS 
75% SUBSIDY FOR S.M.E.s?
IS THAT BECAUSE THIS WASN'T 
BEING DONE?
PERHAPS YOU CAN ANSWER THAT 
QUESTION IN FRENCH AND I'LL 
ANSWER IN ENGLISH.
>> TAU FOR YOUR QUESTION.
AND YOU'RE EXACTLY RIGHT.
WE ANNOUNCED THE SERB ON 
WEDNESDAY SO THAT WE COULD 
REMAIN -- KEEP A LINK WITH 
EMPLOYERS.
WE KNOW THAT KEEPING A JOB IS 
IMPORTANT BECAUSE WORKERS ARE 
VERY ANXIOUS RIGHT NOW.
BUT WE ALSO HAVE TO LOOK TO THE 
QUESTION OF COMPANIES WHEN THEY 
WANT TO BRING PEOPLE BACK TO 
WORK AND TO GO BEYOND THIS SO 
THAT EMPLOYERS WILL BE ABLE TO 
KEEP HFP-THEIR ABILITY TO KEEP 
PAYING EMPLOYEES WAGES IN 
COMING WEEKS.
GIVEN THE SITUATION THAT IS 
EVOLVING.
WE'RE OFFERING A 75% WAGE 
SUBSIDY AND THIS WILL ALLOW 
EMPLOYEES NOT ONLY TO KEEP 
THEIR LINKER BUT TO KEEP THEM 
ON PAYROLL.
>> IF I COULD JUST ADD TODAY'S 
ANNOUNCEMENT BY THE PRIME 
MINISTER ON THE 75% WAGE 
SUBSIDY WAS A VERY IMPORTANT 
ANNOUNCEMENT.
OUR GOVERNMENT, THE PRIME 
MINISTER UNDERSTAND VERY MUCH 
THE SERIOUSNESS OF THE 
SITUATION.
WE UNDERSTAND, AS WE HEARD FROM 
DR. NJOO JUST NOW THAT THE 
HEALTH SITUATION IS LIKELY TO 
GET WORSE BEFORE IT GETS BEER 
AND WE UNDERSTAND THAT THE 
ECONOMIC IMPACT IS SERIOUS.
AND SO WE KNOW THAT THE 
GOVERNMENT HAS A DUTY TO DO 
WHATEVER I TAKES TO ALLOW OUR 
ECONOMY TO WEATHER THE STORM.
BY COMMITTING TO A 75% WAGE 
SUBSIDY, IF GOVERNMENT IS 
TAKING A MAJOR STEP TO HELP 
SMALL BUSINESSES GET THROUGH 
THIS IN TACK AND IT IS TAKING A 
MAJOR STEP TO DO SOMETHING 
WHICH IS SO IMPORTANT FOR 
CANADIANS AND THAT IS TO KEEP 
THAT CONNECTION WITH THEIR 
EMPLOYER.
SO IMPORTANT TO KNOW THAT YOU 
HAVE A JOB RIGHT NOW, EVEN IF 
THE CONDITIONS OF PHYSICAL 
DISTANCING ARE MAKING IT HARD 
TO GO TO WORK.
EVEN IF THOSE CONDITIONS ARE 
MAKING I HARD FOR YOUR COMPANY 
TO OPERATE AS USUAL.
WE GET THAT AND THAT IS WHY THE 
PRIME MINISTER ANNOUNCED THIS 
ESSENTIAL STEP THIS MORNING.
AND I WORKED OUT THAT THE PRIME 
MINISTER MADE CLEAR THAT THESE 
MEASURES WILL BE RETROACTIVE TO 
THE 15TH OF MARCH.
AND WE VERY MUCH HOME THAT 
COMPANIES WILL TAKE THAT INTO 
ACCOUNT AND HANG ON TO THEIR 
EMPLOYEES AND PERHAPS BRING 
BACK PEOPLE THEY WERE THINKING 
OF LAYING OFF.
AND IT IS SO IMPORTANT TO KEEP 
OUR ECONOMY STRONG.
WE ACTED EARLIER TO BE SURE 
THAT INDIVIDUAL CANADIAN WERE 
NOT PENALIZED FOR THE RIGHT 
THING AND STAYING AT HOME TO 
SOCIALLY DISTANCE BECAUSE OF 
THE CORONAVIRUS.
THE MEASURES TODAY ARE ABOUT 
BEING SURE THAT CANADIAN SMALL 
BUSINESS IS NOT PENALIZED AND 
INDEED HAS THE RESOURCES THAT 
IT TAKES TO WEATHER THIS STORM.
AND I ALSO DO WANT TO SAY THIS 
IS A DIFFICULT SITUATION.
WE CAN'T MINCE WORDS ABOUT THAT 
AND IT IS CERTAINLY GOING TO 
GET WORSE BEFORE IT GETS BETTER.
BUT WHAT THE PRIME MINISTER 
SAID THIS MORNING IS A FURTHER 
ASSURANCE TO CANADIANS THAT OUR 
GOVERNMENT WILL DO WHATEVER IT 
TAKES TO KEEP CANADIANS HEALTHY 
AND SAFE, AND TO KEEP OUR 
ECONOMY IN TACT DURING THIS 
SITUATION.
AND TO ENSURE THAT ECONOMICALLY 
WE'RE IN A POSITION TO COME 
ROARING BACK WHEN THE HEALTH 
CRISIS HAS ABATED.
CANADA HAS THE ABILITY TO DO 
THAT.
WE HAVE AN EXCEPTIONAL HEALTH 
CARE SYSTEM.
WE HAVE A VERY STRONG FEDERAL 
FISCAL POSITION GOING INTO THIS 
CRISIS.
AND WE ARE GOING TO USE THAT 
POSITION TO BE SURE THAT 
CANADIANS WEATHER THE STORM AND 
THAT WE ARE ALL GOO%BACKER INED 
INTO SHAPE AND ABLE TO SHOVEL 
OUR WAY OUT WHEN WE ARE ABLE TO 
BE ABLE TO LEAVE OUR HOUSES AND 
GET BACK TO WORK.
>> Reporter: [SPEAKING FRENCH].
>> Interpreter: YOU SAID TWO 
DAYS AGO THAT THE CERB WOULD 
ALLOW COMPANIES TO NOT LAY THEM 
OFF, BUT KEEP PAYING THEIR 
EMPLOYEES AND THAT OTTAWA WOULD 
GIVE THE MONEY DIRECTLY TO 
THESE PEOPLE WHO ARE STILL 
EMPLOYED BUT WITHOUT REVENUE.
NOW YOU'RE CHANGING COURSE.
IS THAT BECAUSE THE COMPANIES 
REFUSED TO DO WHAT YOU ASKED 
THEM TO DO TWO DAYS AGO TO KEEP 
THEIR EMPLOYEES ON THE PAYROLL?
HOW COME -- WELL, WE'VE SEEN 
THE LAYOFFS FROM COMPANIES IN 
RECENT DAYS AT CIRQUE DU SOLEIL 
AND OTHERS.
HOW COME YOU'RE OFFERING THIS 
NOW?
THERE IS A GENERAL CONTEXT.
WE'RE TRYING TO LAND THIS PLANE 
AND THERE ARE SOME PASSENGERS, 
WORKERS THAT HAVE TO BE 
PROTECTED AND THAT IS THE 
OBJECTIVE OF THE CERB THAT WAS 
ANNOUNCED ON WEDNESDAY.
WE ALSO SAW THAT THE PLANE 
ITSELF NEEDED PROTECTION.
THE MOTOR TO BE PROTECTED SO WE 
COULD KICKSTART THE ECONOMY IN 
A FEW WEEKS AND THAT IS WHAT WE 
DID WITH TODAY'S ANNOUNCEMENT.
WE'VE GIVEN S.M.E.s EMERGENCY 
FUNDING THAT THEY'LL BE ABLE TO 
USE.
THERE WILL BE 40,000 IN LOANS.
THE MINISTER WILL GIVE US MORE 
DETAILS SOON.
BUT THE VERY FABRIC OF S.M.E.s 
IS FUNDAMENTAL TO CANADA'S 
ECONOMIC GROWTH AND WE HAVE TO 
GIVE THEM FUNDING SO THAT WHEN 
THE ECONOMY DOES RECOVER, 
S.M.E.s WILL BE PROTECTED AND 
THAT IS WHY THIS MORNING'S FUND 
THAT WAS ANNOUNCED SO IMPORTANT.
WE'RE TELLING ENTREPRENEURS IN 
QUEBEC AND ELSEWHERE IN CANADA 
WE'RE THERE FOR YOU.
WE ARE GOING TO SUPPORT YOU.
SO THAT WE CAN PROTECT YOU IN 
COMING WEEKS AND SO WE WILL BE 
ABLE TO COUNT ON YOU ONCE AGAIN 
WHEN THE ECONOMY WILL REBOUND 
IN A FEW WEEKS.
THIRD THERE IS A 
COMPLEMENTARITY BETWEEN THESE 
TWO BENEFITS.
EMPLOYERS NEED EMPLOYEES AND 
VICE VERSA.
AND THAT IS WHY THESE TWO 
MEASURES GO NANLD HAND.
WE KNOW THAT COMPANIES HAVE 
ALREADY ANOUNED THAT THEIR 
CONNECTION TO THE JOB WOULD BE 
MAINTAINED.
BUT WITH THIS MORNING'S 
ANNOUNCEMENT, THEY WILL BE ABLE 
TO COMMUTE TO PAY THESE 
EMPLOYEES.
COMPANIS WHO ARE ELIGIBLE WILL 
BE ABLE TO CALL THEIR WORKERS 
BACK QUICKER THAN POSSIBLE.
OF COURSE THEY WON'T LAY THEM 
OFF BECAUSE THIS CONNECTION TO 
THEIR EMPLOYER WILL BE 
MAINTAINED BUT ABLE TO OFFER 
THEM SALARIES AND THEY WILL BE 
ABLE TO CALL THEM BACK QUICKLY 
IF CONDITIONS ALLOW THEM TO DO 
SO.
AND WHAT'S MORE, COMPANIES WHO 
WOULD HAVE LAID OFF EMPLOYEES 
WITHOUT SALARY, WHAT WE'RE 
TELLING THEM IS A 75% WAGE 
SUBSIDY WILL BE PAID BY THE 
CANADIAN GOVERNMENT.
SO THINK QUICKLY.
KNOW THAT WE'LL BE THERE TO 
SUPPORT YOU IN COMING WEEKS AND 
A 75% WAGE SUBSIDY COVERED BY 
THE CANADIAN GOVERNMENT OFFERS 
YOU A POSSIBILITY NOT ONLY THE 
KEEP YOUR CONNECTION WITH YOUR 
EMPLOYEES BUT ALLOWS YOU, IN 
COMING WEEKS TO CONTINUE TO BE 
BUSY AND BEING PAID.
BECAUSE THEY'RE THERE TO 
PROTECT YOU, YOUR COMPANY.
AND WE'RE ALSO THERE FOR 
EMPLOYEES.
WHO WE NEED IN THE SHORT-TERM 
AND THE LONG-TERM AS WELL.
>> I THINK IT IS IMPORTANT TO 
SEE THE VERY STRONG MEASURES 
ANNOUNCED BY THE GOVERNMENT IS 
ALREADY COMET POLICEMEN  -- 
COMPLIMENTARY TO WHAT WE'VE 
ALREADY DONE.
THE FIRST ESPECIALLY THE WAS 
ABOUT PROTECTING INDIVIDUAL 
WORKERS.
AND I WAS ABOVE ALL ABOUT 
ENSURING THAT THERE WAS NO 
ECONOMIC REASONS FOR PEOPLE TO 
AVOID DOING THE HARD AND AND 
NECESSARY ACTION OF GOING TO 
SCHOOL AND CARING FOR PEOPLE 
WHO NEED TO STAY HOME BECAUSE 
OF CORONAVIRUS.
WE UNDERSTOOD THAT WE WERE 
ASKING CANADIANS TO DO 
SOMETHING THAT IS NOT ONLY 
SOCIALLY HARD BUT THAT COULD 
HAVE BORNE A REAL ECONOMIC 
PENALTY FOR A LOT OF PEOPLE.
SO I WAS IMPORTANT TO ACT 
REALLY SWIFTLY TO PUT SOME 
MEASURES IN PLACE SO THAT 
CANADIANS KNEW THAT DOING THE 
RIGHT THING ON THE HEALTH FRONT 
WOULD NOT HURT THEM 
ECONOMICALLY AND TO SUPPORT ALL 
THOSE CANADIANS DOING THAT.
THE STRONG ACTION THE PRIME 
MINISTER HAS ANNOUNCED TODAY IS 
VER COMPLIMENTARY TO THOSE 
STEPS AND IS ALL ABOUT ENSURING 
THAT OUR SMALL BUSINESSES, THE 
BACKBONE OF OUR ECONOMY, ARE 
ABLE TO GET THROUGH THIS IN 
TACK, VIABLE, STILL CONNECTED 
TO THEIR EMPLOYEES AND THAT 
WHEN THIS PERIOD OF SOCIAL 
DISTANCING COMES TO AN END, AS 
IT INEVITABLY WILL, THAT OUR 
ECONOMY IS IN A POSITION TO 
COME ROARING BACK AND THAT 
CANADIANS STILL HAVE THEIR JOBS.
THAT IS WHAT THE PRIME MINISTER 
ANNOUNCED TODAY AND IT SHOULD 
GIVE CANADIANS CONFIDENCE THAT 
THE GOVERNMENT IS PREPARED TO 
DO WHATEVER IT TAKES TO KEEP 
OUR ECONOMY STRONG.
>> Reporter: MINISTERS, RACHEL 
HAINS FROM CTV.
MY FIRST QUESTION FOR DR. NJOO 
IS ABOUT NATIONAL GUIDELINES 
FOR HOSPITALS WHO ARE GOING TO 
BE SUBMARINESINGERING A -- OR 
EXPECTING TO EXPERIENCE A LOT 
OF CRITICALLY ILL PATIENTS 
COMING TO HOSPITALS OVER THE 
NEXT FEW WEEKS.
WE'VE SEEN A LOT OF DEATHS 
ACROSS THE WORLD AND A LOT OF 
FAMILIES, TOO, ARE REACHING OUT 
ABOUT CRITICALLY ILL PATIENTS 
WHO ARE ON VENT LAYS TOER AND 
THEIR FAMILIES ARE NOT BY THEIR 
SIDE.
ARE THERE NATIONAL GUIDELINES 
SEND OUT TO HOSPITALS TO DEAL 
WITH THIS REALITY OR WILL 
CANADIANS HAVE TO FACE THE FACT 
THAT THEY MAY NOT BE ABLE TO BE 
WITH THEIR LOVED ONES AT THIS 
TIME.
>> THANK YOU VERY MUCH FOR THE 
QUESTION.
THIS IS AMONG THE MANY LIVE 
ISSUES WE'RE DEALING WITH AND 
CALL AN F.T.P., 
FEDERAL-PROVINCIAL-TERRITORIAL 
LEVEL.
IN TERMS OF MY LEVEL AND PUBLIC 
HEALTH, THE SPECIAL ADVISORY 
COMMITTEE IS MEETING 
PRACTICALLY ON A DAILY BASIS TO 
LOOK AT THIS ISSUE AND OTHERS.
WE RECOGNIZE THAT PROVINCES AND 
THE PROVINCIAL OFFICIALS ARE 
EACH LOOKING AT THEIR OWN 
INDIVIDUAL PLANS IN TERMS OF 
THE HEALTH CARE SYSTEM, WHAT 
THE NEEDS MAY BE.
THERE IS A LOT OF MODELING AND 
PROJECTION GOING ON IN EACH OF 
THE PROVINCES ANDER THES AND 
WE'RE SHARING THAT INFORMATION 
AT THE TABLE NATIONALLY SO WE 
CAN COMPARE OUR EXPERIENCES AND 
WHAT THE ISSUES MIGHT BE THAT 
WE CAN EXCHANGE BEST PRACTICES.
IN TERMS OF A NATIONAL 
APPROACH, WE RECOGNIZE THAT 
EACH OF THE PROVINCES AND TERMS 
DO WHAT'S NECESSARY IN THEIR 
JURISDICTION.
BUT WE AT THE FEDERAL LEVEL ARE 
ALWAYS THERE TO ASSIST AND 
LOOKING AT WAYS IN TERMS OF 
PROTECTION IN SURGE CAPACITY 
AND WHAT WE CAN DO TO HELP 
PROVINCES THAT MAY NOT HAVE THE 
SAME CAPACITY AS MAYBE SOME OF 
THE OTHER ONES.
EACH OF THE PROVINCES AT THE 
PRESENT TIME IS, AS YOU SAY, A 
DIFFERENT PART OF THE PANDEMIC 
CURVE.
SOME PROVINCES ARE HARDER HIT 
AT THE PRESENT TIME AND OTHERS 
ARE MAYBE NOT AS FAR ALONG.
BUT WE NEED TO ANTICIPATE AND 
PLAN FOR THE POSSIBILITY OF 
THOSE PROVINCES AS WELLFUL AT 
THE END OF THE DAY, WE ARE 
LOOKING AT FRAMEWORK AND 
APPROACHS SO THAT, AS I SAID AT 
THE END OF THE DAY, ALL 
CANADIANS ACROSS THE COUNTRY 
WILL HAVE ACCESS TO THE HEALTH 
CARE SERVICES THAT THEY NEED.
>> Reporter: OK.
MY QUESTION WAS MORE ABOUT 
FAMILIS WHO WOULD LIKE TO BE 
WITH THEIR LOVED ONES.
IF THEIR LOVED ONES ARE IN 
HOSPITAL, HOW CAN YOU VISIT 
THEM AND IS THAT A REALITY NOW 
THAT YOU'RE JUST NOT GOING TO 
BE ABLE TO SEE YOUR FAMILY, BUT 
I WOULD ALSO LIKE TO FOLLOW UP 
ON THE TESTING THAT YOU SAID IS 
THAT YOU SAID WE HAVE ONE OF 
HIGHEST RATES OF TESTING IN THE 
WORLD RIGHT NOW.
BUT THERE ARE RESULT BACKLOGS 
OF 10, 11, 12 DAYS THAT WE KNOW 
OF.
SO, WHY IS IT SO IMPORTANT THAT 
WE HAVE YOUR PROMOTING THESE 
NUMBERS OF TESTS BUT NOT SEEING 
THE RESULTS.
HOW IS THAT A GOOD THING THAT 
WE HAVE ALL OF THESE TESTS BUT 
NO RESULTS YET?
>> TO THE FIRST QUESTION, AS WE 
ALL KNOW PHYSICAL DISENS 
THATING IS THE MOST IMPORTANT 
MEASURE WE HAVE IN PLACE RIGHT 
NOW TO PREVENT FURTHER 
TRANSMISSION OF THE VIRUS.
IT'S VERY DIFFICULT FOR FAMILIS 
WHO HAVE A LOVED ONE THAT IS IN 
THE HOSPITAL RECEIVING CARE.
AND SO I WOULD DEFER TO THE 
HOSPITALS OBVIOUSLY THEY'RE 
PUTTING MEASURES IN PLACE.
I THINK MANY HOSPITALS HAVE 
LIMITED OR SAID NO.
THERE'S NO VISITOR ALLOW.
I THINK PEOPLE UNDERSTAND THE 
NEED TO BE ABLE TO PROTECT 
OTHER PATIENTS AND THE STAFF IN 
THE HOSPITALS FROM POTENTIAL 
FURTHER EXPOSURE TO THE VIRUS 
AND THE MESSAGE WE HAVE BEEN 
GIVING LOUD AND CLEAR IS THAT 
EVERYONE SHOULD STAY HOME.
YOU ONLY GO OUT FOR ESSENTIAL 
ACTIVITIES SUCH AS BUYING YOUR 
GROCERIES Y.
WITH THAT  PRINCIPLE IN MIND, 
PEOPLE SHOULD UNDERSTAND WHY WE 
DON'T NEED VISITORS IN 
HOSPITALS.
AND THE RESULTS I'VE BEEN 
GIVING YOU ARE THE TESTINGS 
RESULTS.
WE KNOW THERE ARE A LOT OF 
TESTS THAT ARE STILL IN PLAY, 
AS THEY SAY, STILL WAITING TO 
BE AND  -- ANALYZED AND OF 
COURSE WE CAN DO BETTER AND THE 
PROVINCES ARE STEPPING UP.
I'M AWARE THAT THE PROVINCE OF 
YOU ARE A  I DON'T, QUEBEC AS 
WELL.
THEY'RE ALL STEPPING UP IN 
TERMS OF THEIR CAPACITY.
IN TERMS OF, HOW YOU SAY, A 
FASTER THROUGH-PUT IF I CAN PUT 
IT THAT WAY.
IN TERMS OF THE FASTER 
THROUGH-PUT, THE GOLD STANDARD 
IS STILL THE P.C.R. TEST, THAT 
IS THE SWAB IN THE SAMPLE THAT 
GET ANALYZED WITH THE P.C.R. 
MACHINE, ETC..
AND ARE THERE OTHER TESTING 
MODALITIES THAT WE CAN USE.
POINT OF CARE TESTS THAT WOULD 
BE ABLE TO GET RESULTS IN A 
MUCH SHORTER TIME AND BE CLOSER 
TO WHERE THE CARE IS BEING 
DELIVERED.
AS WAS MENTIONED EARLIER, THESE 
TYPES OF TESTS IF THEY BECOME 
AVAILABLE, AND WE EXPECT SOONER 
RATHER THAN LATER WILLABLE A 
GODSEND IN REMOTE AND ISOLATED 
COMMUNITIES AND WILL DECREASE 
THE TESTING TIME.
RIGHT NOW WITH THE CURRENT 
TECHNOLOGY, THEY HAVE TO SEND A 
SAMPLE TO GET THE TEST RESULTS.
WE'RE LOOKING FORWARD TO HAVING 
THAT TECHNOLOGY AVAILABLE AS 
WELL.
BUT THAT TAKES A BIT OF TIME.
AS I MENTIONED, I THINK IN 
FRENCH EARLIER, WE NEED TO 
VALIDATE THOSE TESTS BECAUSE 
THERE'S NOTHING WORSE THAN 
HAVING A TEST OUT THERE THAT 
DOESN'T GIVE YOU WHAT WE CALL A 
VALID, ACCURATE RESULT.
THERE IS NOTHING WORSE THAN 
BEING FALSELY RE-ASSURED AND 
NOT KNOWING IF YOU HAVE A FALSE 
POSITIVE OR FALSE NEGATIVE TEST 
RESULT.
WE NEED TO HAVE THOSE TESTS 
VALIDATED BEFORE WE ROLL OUT 
THOSE OUT ACROSS THE COUNTRY.
AND THERE'S ALSO [INAUDIBLE] 
TESTING WHICH WOULD BE ANOTHER 
TOOL IN THE TOOL BOX.
NOT TO USE TOO MUCH THINGS LIKE 
THAT, ANECDOTES.
BUT IT BEING ANOTHER TECHNOLOGY 
WE HAVE IN OUR SUITE OF TESTING 
TECHNOLOGIES.
SO, WITH ALL OF THOSE THINGS ON 
THE GO, AS I SAID BEFORE, THE 
INCREASE IN OUR TESTING 
RESULTS, LOOK AT HOW WE 
INCREASED OVER THE PAST FEW 
DAYS.
IF YOU LOOK AT COUNTRIES AROUND 
THE WORLD, BY WHAT I 
UNDERSTAND, WE'RE AT NUMBER TWO 
OR THREE.
I THINK IT IS ONLY UNITED ARAB 
EMIRATES AND SOUTH KOREA THAT 
HAD A HIGHER TESTING RATE PER 
MILLION POPULATION THAN WE DO.
WE'RE ABOUT THE SAME AS 
AUSTRALIA RIGHT NOW.
>> THANK YOU.
NEXT QUESTION, JULIE VAN DUSEN, 
CBC.
>> Reporter: HI, THIS IS FOR 
MS. FREELAND.
YOUR GOVERNMENT BROUGHT IN THE 
EMERGENCY BENEFIT THAT'S GOING 
TO GIVE PEOPLE $2,000 FOR FOUR 
MONTHS.
SO I'M ASSUMING YOU CHOSE FOUR 
MONTHS BECAUSE YOU ASSUME IT IS 
GOING TO LAST FOUR MONTHS, THE 
PANDEMIC.
BUT I'M NOT SURE.
THE P.B.O., HIS REPORT TODAY, 
HE ESTIMATES THAT THIS WILL GO 
ON FOR SIX MONTHS, UNTIL AUGUST.
WHAT TIMELINE IS THE GOVERNMENT 
PLANNING FOR THAT WE WILL LIVE 
LIKE THIS?
>> SO, I'LL START AND I'M 
ACTUALLY GOING TO ASK DR. NJOO 
TO OFFER SOME COMMENTS BECAUSE 
THAT IS REALLY A QUESTION ABOUT 
PUBLIC HEALTH.
WE DO KNOW THAT THE PUBLIC 
HEALTH SITUATION WILL GET WORSE 
BEFORE IT GETS BETTER.
AND ALL OF US AT THE PROVINCIAL 
LEVEL, IN HOSPITALS AND CITIES 
ACROSS THE COUNTRY ARE  
PREPARING INCREDIBLY 
ENERGETICALLY FOR THAT 
INEVITABILITY.
ALL CANADIANS ARE WORKING 
REALLY HARD TO MAKE THAT 
WORST-CASE SCENARIO AS LEAST OF 
A WORST CASE AS POSSIBLE FOR 
CANADIANS.
AND EVERY SINGLE PERSON WHO IS 
PHYSICALLY DISTANCING, EVERY 
SINGLE PERSON WHO IS MAKING THE 
BIG SACRIFICE OF NOT VISITING A 
PANTEDER OR GRANDPARENT IN A 
LONG-TERM CARE FACILITY, EVERY 
CHILD WHO IS NOT GOING TO 
SCHOOL IS CONTRIBUTING TO A 
BETTER HEALTH OUTCOME FOR 
CANADA AND A  OWOULD LOVE, JULI 
--THERE IS NOTHING I WOULD LOVE 
MORE THAN TO BE ABLE TO SAY TO 
YOU AND CANADIANS ON THIS 
SPECIFIC DATE, IT'S GOING TO BE 
THEY CAN TELL US THAT IT WILL 
END.
AND THEY CAN EL THE US THE 
THINGS THAT WE CAN DO TO GET 
THROUGH IT WITH THE BEST HEALTH 
OUTCOMES AS CANADIANS AND THEN 
OUR JOB AS A GOVERNMENT IS TO 
TAKE THE NECESSARY ECONOMIC 
MEASURES SO THAT THOSE ACTIONS 
WE'RE TAKING TO KEEP CANADIANS 
HEALTHY, SAFE AND ALIVE DO NOT 
HURT OUR ECONOMY AND DON'T HURT 
INDIVIDUAL CANADIANS.
SO THAT IS WHAT WE'RE DOING AND 
I WILL LEAVE IT TO DR. NJOO TO 
OFFER A HEALTH PERSPECTIVE.
PROVINCES ARE LOOKING AT A LOT 
OF SCENARIOS AND OUR HEALTH 
CARE SCENARIOS ARE VERY MUCH 
CONNECTED WITH THE ECONOMIC 
THINKING THAT WE ARE DOING.
IT'S ONE REASON WHY YOU'RE 
SEEING THE ECONOMIC THINKING 
DEVELOPING, WHY YOU ARE SEEING 
NEW PROPOSALS COMING OUT VERY 
REGULARLY BECAUSE THIS IS AN 
EVOLVING SITUATION.
>> FROM THE PUBLIC HEALTH 
PERSPECTIVE, THERE IS A 
TREMENDOUS GLOBAL COLLABORATION.
WE'RE IN REGULAR CONTACT WITH 
THE WORLD HEALTH ORGANISATIONS 
AND OUR PARTNERS SUCH AS THE 
C.D.C. AND THE UNITED STATES.
WE'RE CONSTANTLY SHARING 
INFORMATION, BEST PRACTICES, 
LOOKING AT THE EXPERIENCE OF 
WHAT'S HAPPENED.
, THE CHANGING EPIDEMIOLOGY, 
LOOKING AT THE SCIENCE AND THE 
EVIDENCE AND USING A -- THE 
BEST MERCK WE HAVE AT THE 
PRESENT TIME, WHICH IS PHYSICAL 
DISTANCING AND THE REASON IS 
WE'RE TRYING TO BUY TIME.
WE TALK ABOUT THINGS LIKE 
FLATTEN THE CURVE, PLANKING THE 
CURVE.
IT'S ALL TO BUY TIME.
DO NOT OVERLOAD OUR HEALTH CARE 
SYSTEM.
AS SCIENTISTS AROUND THE WORLD, 
INCLUDING OURS IN CANADA, ARE 
WORKING DAY AND NIGHT TO TRY TO 
FIND THAT VACCINE, THAT 
TREATMENT THAT WILL HELP ALSO 
LESSEN THE BURDEN OF ILLNESS 
BOTH HERE IN CANADA AND AROUND 
THE WORLD.
TO ANSWER YOUR QUESTION, WE'RE 
IN IT FOR THE LONG HAUL.
IT IS NOT DAYS AND WEEKS.
WE'RE LOOKING AT IT AS WELL, IS 
THERE A POSSIBILITY OF A SECOND 
WAVE?
WHO KNOWS.
I THINK DR. TAM MENTIONED IT.
I WOULD AGREE WITH HER.
WE'RE LOOKING AT ALL 
POSSIBILITIES AND PLANNING FOR 
ALL POTENTIAL SCENARIOS.
>> SO BRIEFLY, DESPITE THE 
UNCERTAIN TY THAT WE ALL SEE ON 
THE HEALTH SIDE AND ECONOMIC 
SIDE, WE REALLY NEED TO -- AND 
I SAY WE, THE FEDERAL 
GOVERNMENT AS WELL AS ALL 
GOVERNMENTS, WE NEED TO 
DEMONSTRATE TO CANADIANS THAT 
WE ARE THERE TO HELP EACH OTHER 
AND WE'RE THERE TO PROVIDE THE 
HOPE THAT WE NEED TO GO THROUGH 
THIS CRISIS.
AND THEY UNDERSTAND THAT FROM 
BOTH A HEALTH AND ECONOMIC 
PERSPECTIVE, WE'LL BE THERE TO 
SUPPORT THEM.
AND TOMORROW'S ANNOUNCEMENT IS 
EXACTLY THAT.
WE'RE GOING TO SUPPORT YOU, 
BOTH THE WORKERS AND THE SMALL 
AND MEDIUM-SIZED BUSINESSES AND 
EVERYONE ELSE IMPORTANT IN THE 
-- IN OUR ECONOMIC FABRIC 
BECAUSE WE ALL NEED TO GO 
THROUGH THIS TOGETHER.
SO, CONFIDENCE AND FEELING THAT 
WE'RE ALL THERE TO SUPPORT EACH 
OTHER ARE KEY ACTIONS AND ITEMS 
THAT WE'RE AGAIN DELIVERING 
TODAY.
>> Reporter: DR. TAM, MY SECOND 
QUESTION FLOWS OUT OF WHAT YOU 
SAID.
YOU REPEATED OFTEN THAT IT WILL 
GET WORSE BEFORE IT GETS BETTER.
WHAT DO YOU MEAN BY WORSE?
WHAT DOES THAT LOOK LIKE AND 
WHAT IS BEING DONE TO PREPARE 
FOR A SURGE I'M ASSUMING?
>> WE ALWAYS PREPARE FOR THE 
WORST, BUT HOPE FOR THE BEST.
IN TERMS OF THE WORST IS THAT 
WE'VE ALREADY SEEN THE 
EXPERIENCE IN QUEBEC WHERE 
THEY'VE HAD A SPIKE IN CASES.
PART OF IT IN COMMUNIQUING 
CLOSELY WITH COLLEAGUES IN 
QUEBEC IS THE FACT THAT THEY 
DECENTRALIZED THEIR TESTING.
BEFORE IT WAS ALL THE 
LABORATORY RESULTS HAD TO BE 
VERIFIED AT THE PROVINCIAL LAB 
LEVEL.
NOW THERE IS A NETWORK OF 10 
LABLS SO THEY'RE ACTUALLY ABLE 
TO DO THE TESTING AND HAVE THE 
RESULTS COME OUT SOONER.
PAR OF THE SPIKE COMPARED TO 
THE REST OF CANADA, THEIR MARCH 
BREAK WAS EARLIER SO I THINK IT 
WAS AT THE BEGINNING OF MARCH.
AND, THEREFORE, WE'RE NOW 
SEEING AS WE ALWAYS KNOW 
BECAUSE OF THE DELAY IN TERMS OF
 PEOPLE EXPOSED AND NOW PEOPLE 
WHO HAVE BECOME ILL AND GET 
THEIR TEST RESULTS, THAT 
EXPLAINS IN PART THE SPIKE OF 
CASES IN QUEBEC.
IN TERMS OF THE WORST, AS WE 
KNOW, ONTARIO HAD THEIR MARCH 
BREAK A WEEK LATER.
ON FRIDAY THE 13TH -- MARCH 
13TH WE TOLD CANADIANS AVOID 
ALL NONESSENTIAL TRAVEL OUTSIDE 
OF CANADA.
MANY PEOPLE BEFORE, EVEN DURING 
THAT TIME WERE STILL GOING ON 
VACATIONS OUTSIDE OF THE 
COUNTRY, ETC.
WE ALSO HAVE THE SNOW BIRDS, 
ETC. AND MA M CANADIANS AROUND 
THE WORLD AND THERE IS 
INCREASED RISK OF EXPOSURE TO 
COVID-19 IN MANY PARTS AROUND 
THE WORLD.
WITH THESE PEOPLE NOW COMING 
BACK, WE'RE TELLING PEOPLE THAT 
PHYSICAL DISTANCING IS SO 
IMPORTANT.
BUT WE -- IT REMAINS TO BE SEEN.
IN TERMS OF PEOPLE BEING ILL 
WITH COVID-19 AND SEEKING 
MEDICAL CARE AND GETTING TESTED 
AND GETTING THOSE RESULTS.
SO THAT IS WHAT WE MIGHT 
ANTICIPATE AS SORT OF BEING THE 
WORST AND THEN HOPEFULLY NOW 
WITH EVERYONE, UNDERSTANDING 
THE ABSOLUTE CRITICAL 
IMPORTANCE OF PHYSICAL 
DISTANCING THAT HOPEFULLY IN 
THE WEEKS TO COME, WE'LL SEE 
THE EFFECTS OF THAT POSITIVE 
MEASURE.
THE OTHER POINT I'LL MAKE AT 
THIS POINT BECAUSE THERE'S BEEN 
QUESTIONS OUT THERE IN TERMS OF 
MANDATORY ORDER UNDER THE 
QUARANTINE ACT THAT CAME INTO 
EFFECT.
AND MAYBE I'LL JUST WANT TO 
WALK PEOPLE THROUGH THAT.
I KNOW THERE'S BEEN MAYBE SOME 
CONFUSION IN TERMS OF 
QUARANTINES, SELF-ISOLATION, 
WHAT HAPPENS TO TRAVELERS 
COMING BACK.
SO I'D LIKE TO UNPACK THAT AND 
MAKE IT CRYSTAL CLEAR TO ALL 
CANADIANS.
>> Reporter: [INAUDIBLE].
>> THAT IS THE NEXT STEP IN 
MAKING STHAUR WE DON'T ADD TO 
THE SURGE.
THE SURGE MIGHT BE WHAT 
HAPPENED A FEW WEEKS AGO AND A 
MEASURE PUTTING IN PLACE IS TO 
PREVENT AN EVEN FURTHER 
INCREASE IN THAT SURGE.
IF YOU'D LIKE ME TO  --
>> REPORTER: YEAH.
>> WITH THE MANDATORY ORDER, 
UNDER THE QUARANTINE ACT, ALL 
TRAVELERS COMING TO CANADA NOW 
ARE SUBJECT TO AN ORDER OF 
QUARANTINE AND THAT IS A 
SERIOUS ISSUE AND STRONG 
MEASURE THAT OUR MINISTER OF 
HEALTH PUT IN PLACE ON MARCH 25.
SO, THE EASIEST WAY TO LOOK AT 
IT IS YOU HAVE PEOPLE TWO COME 
TO CANADA WHO MIGHT BE ILL WITH 
SYMPTOMS MAYBE ARRIVING AT A 
LAND BORDER OR MAYBE EVEN BY 
AIR, ALTHOUGH THEY COULD HAVE, 
SHOULD HAVE BEEN CHECKED BEFORE 
THEY BOARDED THEIR FLIGHT AND 
TRAVELERS WHO HAVE NO SYMPTOMS 
AND LOOK AND FEEL WELL.
SO, THE ONES WHO ARE ILL, 
THAT'S STRAIGHTFORWARD.
IT'S ALL BEEN IN THE QUARANTINE 
ACT.
IF YOU HAVE AN ILL TRAVELER AT 
THE BORDER, CERTAINLY WITH OUR 
QUARANTINE OFFICERS, WE WOULD 
TAKE CHARGE OF THESE PEOPLE AND 
MAKE SURE THEY GET THE 
APPROPRIATE MEDICAL FOLLOW-UP 
AND ISOLATION AND DO IT IN THE 
BEST INTEREST OF THEIR HEALTH.
I WOULD REMIND EVERYONE THAT 
IT'S IN EVERYONE'S BEST 
INTEREST, INCLUDING THE 
TRAVELER, TO DECLARE IF YOU ARE 
NOT FEELING WELL AT THE BORDER.
I HEARD STORIES ABOUT PEOPLE 
HIDING SYMPTOMS, ETC..
THERE WAS AN ANECDOTE.
THERE WAS AN INDIVIDUAL, NOT 
GIVING AWAY ANY MEDICAL 
CONFIDENTTY, THAT ARRIVED AT 
THE BORDER.
WASN'T FEELING WELLFUL WAS 
TAKEN INTO QUARANTINE AND A 
NUMBER OF SEVERAL HOURS LATER 
DETERIORATED RAPIDLY AND IS NOW 
IN INTENSIVE CARE IN A HOSPITAL.
SO IT WAS GOOD THAT THAT PERSON 
WAS HONEST AND TOLD US ABOUT 
THEIR SYMPTOMS SO THAT JUST 
GIVES YOU AN EXAMPLE OF THE 
SERIOUSNESS.
NOW WE'RE SAYING THAT FOR 
ASYMPTOMATIC TRAVELERS THAT 
COME TO CANADA, GET HOME AS 
FAST AS YOU CAN.
IF YOU ARE ASYMPTOMATIC, YOU'RE 
STILL WELL.
THE DIRECTION IS GO HOME AS 
QUICK AS YOU CAN BY THE MOST 
DIRECT ROUTE.
DO NOT STOP FOR GROCERIES.
JUST GET HOME.
IF THAT MEANS ONWARD TRAVEL 
WITH A DOMESTIC FLIGHT, WE'LL 
[INAUDIBLE] AND MAKE SURE THAT 
YOU GET HOME SAFELY.
ONCE YOU'RE HOME, YOU ARE UNDER 
QUARANTINE AND THAT MEANS YOU 
STAY HOME.
IF YOU HAVE A PROPERTY WITH A 
BALCONY OR BACKYARD, YES, YOU 
CAN GO OUT THERE.
BUT THAT IS IT.
NO BIKE RIDES OR WALKING AROUND 
IN THE NEIGHBOURHOOD, YOU ARE 
UNDER QUARANTINE.
I DON'T KNOW HOW MUCH CLEARER I 
CAN MAKE IT.
BUT THAT'S IT.
THAT'S WHAT WE'RE PUTTING IN 
PLACE AND I HOPE CANADIANS AND 
EVERYONE UNDERSTANDS THAT IS 
THE EXPECTATION REQUIREMENT 
UNDER THE ORDER THAT HAS BEEN 
PUT IN PLACE.
THANK YOU.
>> I JUST WANT TO ADD ONE 
THOUGHT, JULIE, TO YOUR 
QUESTION ABOUT A SURGE.
WHICH IS, YOU KNOW, TALKING 
ABOUT SURGES, TALKING ABOUT THE 
REALITY WHICH IS THIS WILL GET 
WORSE BEFORE IT GETS BETTER CAN 
MAKE PEOPLE FEEL POWERLESS.
IF YOU ARE AT HOME, PHYSICALLY 
DISTANSINGING IN YOUR HOUSE, 
MEASURE YOUR CHILDREN ARE HOME 
WITH YOU, YOU CAN FEEL MORE 
POWERLESS AND THAT IS NOT HOW 
WE SHOULD BE FEELING.
CANADIANS SHOULD BE FEELING 
VERY POWERFUL AND CANADIAN 
SHOULD BE FEELING POWERFUL 
BECAUSE EACH ONE OF US CAN MAKE 
A REALLY SIGNIFICANT 
DISTRIBUTION TO OUR COUNTRY 
GETTING THROUGH THIS AND TO OUR 
COUNTRY AVOIDING THE KINDS OF 
REALLY NIGHTMARISH SITUATIONS 
THAT WE'VE SEEN IN COUNTRIES 
LIKE ITALY AND WE CAN MAKE THAT 
CONTRIBUTION BY DOING WHAT DR. 
NJOO HAS DESCRIBED BY BEING 
RIGOROUS IN PHYSICAL DISTANCING.
THAT IS HARD FOR INDIVIDUAL 
CANADIANS AND IT IS HARD FOR 
CANADIAN COMPANIES AND THAT IS 
WHY WHAT HE SAID IS ABSOLUTELY 
THE CASE.
WHICH IS THE GOVERNMENT IS HERE 
TO GET US THROUGH THIS.
WE WILL PROVIDE WHATEVER 
ECONOMIC SUPPORT IS NECESSARY 
FOR CANADIANS TO DO WHAT I 
TAKES TO GET THROUGH THIS 
GLOBAL PANDEMIC.
I WANT PEOPLE TO BE REALISTIC, 
TO DO THE HARD THINGS EACH 
INDIVIDUAL CANADIANS NEED TO DO.
BUT ALSO TO BE HOPEFUL, TO FEEL 
VERY POWERFUL AND TO KNOW THAT 
WE ARE GOING TO GET THROUGH 
THIS BECAUSE WE ARE A COUNTRY 
THAT KNOWS HOW TO ACT 
COLLABORATIVELY AND THAT KNOWS 
HOW TO LISTEN TO OUR EXPERTS.
>> MAYBE ONE LAST QUESTION FROM 
THE ROOM AND ONE LAST QUESTION 
FROM THE PHONE.
MIKE, GLOBAL.
>> Reporter: DR. NJOO, WHEN THE 
MILLIONS OF ITEMS CAME FROM THE 
P.P.E. EQUIPMENT THAT WE WERE 
TALKING ABOUT YESTERDAY, WHEN 
IS IT ACTUALLY GOING TO GET 
HERE?
YOU KNOW, WE WERE SUPPOSED TO 
BE SENT MILLIONS OF EXTRA 
THINGS FROM P.P.E. FROM CHINA 
AND ELSEWHERE.
IS IT -- HAS IT SHOWN UP OR 
WHEN IS IT GOING TO SHOW UP?
THERE IS QUITE A RANGE OF 
EQUIPMENT THAT HAS BEEN ORDERED.
WE'RE WORKING DAY AND NIGHT 
OBVIOUSLY WITH OUR PROVINCIAL 
AND TERRITORIAL COLLEAGUES TO 
GET THE EQUIPMENT INTO CANADA 
ANJA GIVE YOU AN EXACT TIME OR 
DATE.
BUT REST ASSURED WE'RE LOOKING 
ACROSS THE GLOBE AND OBVIOUSLY 
IN CANADA TO ENSURE THAT WE 
HAVE THE SUPPLIES AND EQUIPMENT 
WE NEED HERE IN CANADA.
>> Reporter: FOR HOSPITALS 
RUNNING OUT OF P.P.E., WHAT IS 
THE SITUATION THERE AND CAN WE 
GUARANTEE THAT FRONTLINE HEALTH 
CARE WORKERS ARE GETTING THE 
PROTECTIVE EQUIPMENT THEY NEED 
TO DO THEIR JOBS?
>> WE RECOGNIZE THAT ALL 
FRONTLINE WORKERS AT RIFNG OF 
EXPOSURE DUE TO DEALING WITH 
SICK PATIENTS, THEY NEED THE 
P.P.E. SO I CAN SAY THAT WE'RE 
WORKING.
RIGHT NOW I UNDERSTAND THERE 
ARE IMMINENT SHORTAGES OR 
ISSUES IN THE HOSPITAL.
ONE THING I WOULD STRESS IS 
THAT AS WE'RE WORKING HARD TO 
MAKE SURE THESE WORKERS GET THE 
P.P.E. THAT THEY NEED, WE WOULD 
REMIND THE GENERAL PUBLIC -- I 
DON'T KNOW IF IT IS TILL THE 
CASE, BUT THERE ARE A LOT OF 
PEOPLE IN THE PUBLIC THAT 
WOULDN'T BE, I WOULD SAY, 
NEEDING SUCH TYPE OF EQUIPMENT.
SOME PEOPLE MIGHT BE, TO BE 
HONEST, STEALING THEM OR 
ACQUIRING THEM IN SOME OTHER 
FASHION THAT IS COMPLETELY 
INAPPROPRIATE.
WE NEED TO SAVE OUR P.P.E. FOR 
THOSE WHO NEED IT.
OUR FRONTLINE HEALTH CARE 
WORKERS AND NOT FOR SOMEONE TO 
PUT ON THEIR FACE IF THEY'RE 
GOING TO THE GROCERY STORE TO 
GET THEIR GROCERIES.
I CAN'T STRESS THAT ENOUGH.
>> OK.
ONE LAST QUESTION FOR THE PHONE.
FOR THOSE WHO WILL STILL ON THE 
LIKE AND WANT TO STAY ON FOR 
THE NEXT PRESS CONFERENCE BY 
MINISTER MORNEAU, PLEASE DO.
WE'LL TAKE ONE MORE QUESTION ON 
THE PHONE.
>>  THANK YOU, MERCI.
NEXT QUESTION, PLEASE GO AHEAD.
[PLEASE STAND BY]
-- FIRST, BY SIGNIFICANTLY
INCREASING THE NUMBER OF AGENTS
THAT WERE, FOR EXAMPLE, E.I.,
AND THERE'S MORE THAN 1,000
EMPLOYEES THAT WERE
REDISTRIBUTED TO THIS PROGRAMME
FOR EMPLOYMENT INSURANCE.
AND, SECOND, WE'RE GOING TO
ENSURE THAT EMPLOYEES CAN WORK
IN A SAFE ENVIRONMENT BY
OFFERING THEM APPROPRIATE
MEASURES TO OFFER SERVICES BY
TELEPHONE.
SO THAT PEOPLE CAN RECEIVE THE
SERVICES THAT THEY'RE ENTITLED
TO.
AND, THIRD, SOME PEOPLE WHO HAVE
ISSUES ACCESSING THESE SERVICES,
WHETHER THEY HAVE MOBILITY
ISSUES OR THEY HAVE A PARTICULAR
DISABILITY.
THESE PEOPLE WILL BE ABLE TO
HAVE APPROPRIATE SERVICES
OFFERED UNDER SPECIFIC
CONDITIONS.
THIS IS OFFERED IN BOTH A
RESPECTFUL WAY AND A RESPONSIBLE
WAY.
AND, LASTLY, WE'LL CONTINUE TO
ENSURE THAT REQUESTS FOR E.I.
COVERAGE -- REQUESTS THAT WERE
MADE AFTER MARCH 15 WILL MOVE TO
THE NEW EMERGENCY BENEFIT SO
THAT PEOPLE DON'T HAVE TO FOLLOW
UP WITH E.I.
THESE REQUESTS WILL BE NATURALLY
SENT AND EASILY SENT TO THIS NEW
CANADA EMERGENCY BENEFIT THAT WE
ANNOUNCED ON WEDNESDAY.
SO OVERALL WE'RE PROTECTING THE
HEALTH AND SAFETY OF THE SERVICE
CANADA AGENTS AND AT THE SAME
TIME WITH WEDNESDAY'S
ANNOUNCEMENTS, WE'RE OFFERING
ADDITIONAL SERVICES WITH THE
CERB, SO THAT CANADA CAN DELIVER
SERVICES AND BENEFITS THAT
CANADIANS ARE ENTITLED TO.
ON NORMAL TIMES, DURING NORMAL
TIMES AND DURING CRISIS AS WELL.
>> Question: (Voice of
Translator): YOU'RE SAYING THAT
THIS SERIES OF MEASURES WILL
ACCELERATE ACCESS TO THESE
BENEFITS BUT YOU'VE TALKED ABOUT
THE THOUSAND CASES THAT WERE
REDIRECTED TO E.I.
BUT THIS IS THE CASE BEFORE YOU
CLOSED SERVICE CANADA CENTRES.
SO ARE YOU GOING TO HAVE MORE
PEOPLE ON THE PHONE OR SOMEWHERE
ELSE TO HELP PEOPLE WHO COULD NO
LONGER GO TO SERVICE CANADA
CENTRES TO REQUEST THESE
SERVICES?
AND MY OTHER QUESTION IS --
GIVEN THE BANNING OF PEOPLE FROM
REQUESTING THIS CERB IF THEY
VOLUNTARILY LEFT THEIR JOB, SO
IF SOMEONE HAS TO LEAVE THEIR
JOB BECAUSE THEIR DAYCARE IS
CLOSED AND THEY HAVE TO TAKE
CARE OF THEIR KID OR THEY DON'T
FEEL IT SAFE TO GO TO WORK,
WE'RE TELLING PEOPLE TO STAY AT
HOME, WHAT DO YOU TELL THESE
PEOPLE WHO THINK THEY WON'T BE
ABLE TO REQUEST THIS CERB
BECAUSE THEY VOLUNTARILY LEFT
THEIR JOB AND THEY'RE IN THAT
SITUATION?
>> (Voice of Translator):
ANSWER.
YES, TO BOTH OF YOUR QUESTIONS.
THE FIRST FOR SERVICE CANADA --
BECAUSE WE PHYSICALLY CLOSED
SERVICE CANADA OFFICES --
BECAUSE THEIR AGENTS WEREN'T
ABLE TO HELP PEOPLE IN PERSON --
WE'VE ADDED ADDITIONAL TIME AND
RESOURCES TO ALLOW THEM TO
ANSWER CALLS AND TO FULFILL
ONLINE REQUESTS.
SO MOST OF THESE REQUESTS THAT
ARE SUBMITTED ONLINE AND THEY'LL
HAVE MORE TIME NOW TO PROCESS
REQUESTS BECAUSE THEY WON'T BE
DOING IT IN PERSON.
YOUR SECOND QUESTION ABOUT THE
STANDARDS AND THE CONDITIONS FOR
RECEIVING THE CERB, THE CANADA
EMERGENCY RESPONSE BENEFIT,
THERE WILL BE MANY MORE DETAILS
COMING IN THE NEXT SEVERAL DAYS
SO WE CAN PROTECT CANADIANS WITH
THIS NEW BENEFIT.
BECAUSE CANADIANS UNDERSTAND
US TO ESTABLISH THIS BENEFIT.ED
WE'VE NEVER SEEN SITUATIONS
SINCE THE SECOND WORLD WAR AND
WE NEVER HAD TO IMPLEMENT SUCH A
MEASURE OF THIS SCOPE.
SO QUÉBECERS AND CANADIANS IN
PARTICULAR ARE ASKING LEGITIMATE
QUESTIONS AND WE WILL BE
PROVIDING ANSWERS AND GOOD
ANSWERS IN THE COMING FUTURE.
THANK YOU.
>> THAT ENDS OUR PRESS
CONFERENCE FOR TODAY.
PLEASE STAY ON THE LINE IF YOU
WANT TO PARTICIPATE IN THE NEXT
CONFERENCE.
>> Rosemary: THAT IS OUR DAILY
UPDATE HERE IN THE NATION'S
CAPITAL.
WE'RE GOING TO ACTUALLY STAY ON
A BIT LONGER WITH YOU BECAUSE
THE FINANCE MINISTER, BILL
MORNEAU AND THE GOVERNOR OF THE
BANK OF CANADA ARE GOING TO COME
TO SPEAK TO YOU IN ABOUT 10
MINUTES' TIME.
I WANT TO BRING IN VASSY AND
DAVID COCHRANE.
I WANT TO GO INTO THE ECONOMIC
OF THINGS ON WHAT WE COULD
EXPECT AND I WANT TO TALK ABOUT
THE TESTING BECAUSE THAT'S VITAL
FOR CANADIANS.
AND DR. NJOO, THE DEPUTY PUBLIC
HEALTH OFFICER, CONFIRMED TODAY
THAT 165,000 TESTS HAVE BEEN
DONE IN CANADA.
SO THAT'S 65,000 MORE SINCE
MONDAY.
AND I SAY THIS IS VITAL
INFORMATION BECAUSE EVERY PUBLIC
HEALTH EXPERT WILL TELL YOU THAT
MORE TESTING IS A GOOD THING.
AND HE ALSO POINTS OUT --
DR. NJOO POINTS OUT THIS IS ONE
OF THE HIGHEST RATES PER MILLION
IN THE WORLD.
AND I CAN TELL CANADIANS THAT IF
YOU COMPARE WHAT WE HAVE DONE TO
THE UNITED STATES, FOR INSTANCE,
BECAUSE THAT WOULD BE AN
IMPORTANT MEASURE FOR US I
THINK, THAT WE HAVE DONE --
CANADA HAS DONE 52,000 MORE
TESTS THAN THE U.S. AS OF TODAY.
AND A REMINDER THAT WE ARE
1/10th OF THE SIZE OF THE
UNITED STATES.
SO THE CLAIM THAT WE ARE DOING
PRETTY WELL PER MILLION ON
TESTING IS ACCURATE.
AND IT IS IMPORTANT BECAUSE AS
WE HEARD FROM DR. NJOO AND FROM
THE DEPUTY PRIME MINISTER,
THINGS ARE GOING TO GET WORSE
AND PEOPLE NEED TO PREPARE FOR
THAT.
AND THINK ABOUT THAT AS THEY SEE
THESE NUMBERS MOVING FORWARD.
OKAY, I'M JUST ACTUALLY GOING TO
PUT YOU TWO ON PAUSE AM I'M
GOING TO GO LIVE TO QUEÉBEC CITY
BECAUSE THE PROVINCIAL OFFICIALS
ARE GIVING AN UPDATE.
THAT'S ONE OF THE PROVINCES THEY
HIGHLIGHTED A SPIKE OF CASES
THERE BECAUSE THEIR SPRING BREAK
WAS EARLIER THAN MOST.
TAKE A LISTEN.
>> (Voice of Translator): YES,
HELLO TO EVERYONE.
FIRST I WANT TO GIVE A HUGE
THANKS TO THOSE WHO REGISTERED
YESTERDAY TO GO VOLUNTEER.
QUÉBECERS ARE SO GENEROUS AND IT
REALLY MADE THE PORTAL BLOCKED,
BECAUSE TOO MANY PEOPLE WANTED
TO BE VOLUNTEERS, AND I'M NOT
SURPRISED.
BUT THE PORTAL IS ONCE AGAIN IN
WORKING ORDER AND WE HAVE 12,000
PEOPLE WHO HAVE BEEN MATCHED
WITH ORGINISATIONS.
SO THANK YOU SO MUCH TO ALL
QUÉBECERS.
QUÉBECERS ARE GENEROUS AND WE
CAN BE PROUD OF THAT RESPONSE.
NOW I HAD TOLD YOU IN THE COURSE
OF THE PAST FEW DAYS THAT WE
WERE EXPECTING TO GET TO THIS
NEW STAGE, A MORE CRITICAL
STAGE, AND YOU WILL BE SEEING
THE RESULTS TODAY, WE'LL BE
SHOWING THAT.
SO TODAY WE HAVE 10 DEATHS MORE.
WE ARE NOW AT 18 DEATHS.
OF COURSE, IN THE NAME OF
QUÉBECERS, I WISH TO OFFER MY
MOST SINCERE SYMPATHY AND
CONDOLENCES TO THE FAMILIES AND
THE LOVED ONES.
I KNOW THAT IT'S HARD.
MYSELF, WHEN I LEARNED OF THIS
MORNING THE 10 DEATHS IN JUST
THE ONE DAY, IT'S HARD.
AND ALTHOUGH I HAD BEEN WARNED
FOR A FEW -- I HAVE BEEN WARNED
FOR A FEW DAYS NOW THAT IT WOULD
GET TO THAT, BUT WE HAVE TO
CONTINUE ONWARD TO TRY TO LIMIT
AS MUCH AS POSSIBLE THE NUMBER
OF DEATHS FOR THE REST.
WE HAVE 2,021 CASES THAT ARE
CONFIRMED, THAT IS AN INCREASE
OF 392.
141 PEOPLE ARE HOSPITALIZED,
THAT IS AN INCREASE OF 35.
AND WE HAVE 50 PEOPLE IN INTENSE
INTENSIVE CARE, THAT IS AN
INCREASE OF SEVEN.
AS FAR AS THE NUMBER OF TESTS
ARE CONCERNED WE HAVE INCREASED
THE NUMBER OF TESTS BUT WE ARE
VALIDATING THE NUMBER OF TESTS
THAT WERE DONE IN CERTAIN
REGIONS, SO WE'LL GET BACK TO
YOU TOMORROW WITH UPDATED
NUMBERS.
NUMBERS.
BUT AS YOU CAN SEE WE HAVE
INCREASED THE NUMBER OF TESTS
SINCE WE HAVE MORE CASES, MORE
POSITIVE CASES.
ONE WORD BECAUSE, OF COURSE,
WHEN WE LOOK AT THOSE NUMBERS
THAT WE CAN SEE THAT WE HAVE
MORE PEOPLE WHO ARE INFECTED
THAN IN THE OTHER PROVINCES.
THE EXPLANATION OF PUBLIC HEALTH
IS TO SAY THAT OUR SPRING BREAK
IN QUÉBEC ENDED UP BEING IN THE
WORST OF TIMES, RIGHT BEFORE
PEOPLE BEING TOLD TO STOP
TRAVELLING.
SO WE HAD A LOT OF PEOPLE WHO
DID TRAVEL RIGHT BEFORE AT THE
LAST MINUTE.
SO THAT AFFECTED OUR NUMBERS,
OUR RESULTS.
I WOULD LIKE TO COME BACK TO THE
GUIDELINES AS WELL.
YESTERDAY I SAW ON SOCIAL MEDIA,
AMONGST OTHERS, THAT THERE ARE
MANY PEOPLE WHO SAID THAT MY
CALL TO VOLUNTEERS WAS A BIT
CONTRADICTORY.
AND I'D LIKE TO COME BACK TO
THAT AND SPEAK ABOUT IT.
FIRST OF ALL, I'M ASKING
QUÉBECERS, YOU KNOW, QUÉBEC IS
ON PAUSE RIGHT NOW.
AS MUCH AS POSSIBLE WE HAVE TO
ALL REMAIN AT HOME.
EXCEPT TO GIVE OR TO RECEIVE
ESSENTIAL SERVICES.
SO EVERYONE AT HOME EXCEPT TO GO
GET ESSENTIAL SERVICES OR TO
RENDER ESSENTIAL SERVICES, SO,
OF COURSE, PEOPLE HAVE TO GO OUT
TO GO TO THE GROCERY STORE TO
GET SOMETHING TO EAT.
OF COURSE AS WELL WE NEED TO
HAVE PEOPLE WHO GIVE THOSE
ESSENTIAL SERVICES.
AND WHEN WE TALK, FOR EXAMPLE,
ABOUT HELPING PEOPLE 70 AND
OVER, TO HELP THEM TO GO GET
FOOD FOR THEM, WELL, WE NEED
VOLUNTEERS.
WHEN WE'RE TALKING ABOUT HAVING
FOOD BANKS IN ORDER TO GIVE FOOD
TO THOSE WHO NEED IT, WELL, WE
NEED VOLUNTEERS TO DO THAT.
SO VOLUNTEERING -- WE'RE NOT
TALKING HERE ABOUT SOCIAL
VOLUNTEERING GENERALLY SPEAKING.
WE'RE TALKING ABOUT SPECIFIC
VOLUNTEERING TO GIVE AND TO
RENDER ESSENTIAL SERVICES SUCH
AS FEEDING EVERYBODY.
SO YOU STAY HOME UNLESS YOU NEED
TO GO GET ESSENTIAL SERVICES OR
YOU ARE RENDERING THOSE
ESSENTIAL SERVICES.
NOW, WALKING -- TAKING THE
WALKS.
IT'S NICER NOW AND ANYONE IN
QUÉBEC CITY, IT'S NICE OUTSIDE.
IT'S IMPORTANT TO GO AND TO HAVE
A WALK.
YOU CAN GO WALK AROUND, BUT IF
YOU DO SO, BE CAREFUL TO STAY
TWO METRES AWAY FROM OTHER
PEOPLE.
IF YOU ARE INFECTED WITH THE
VIRUS, IF YOU HAVE SYMPTOMS OF
THE VIRUS, DO NOT GO OUT FOR A
WALK.
NOW THERE'S ALSO THE QUESTION OF
TRAVELLERS.
PEOPLE WHO ARE COMING BACK.
WHO HAVE COME BACK IN THE PAST
FEW DAYS.
YOU ARE AT A MUCH HIGHER RISK
THAN THE AVERAGE OF QUEÉBECERS F
HAVING THE VIRUS AND, THEREFORE,
OF TRANSMITTING IT.
SO IDEALLY STAY AT HOME.
IF YOU ABSOLUTELY HAVE TO GO TO
HAVE A WALK -- AND I'M TALKING
HERE ABOUT THE PEOPLE WHO CAME
BACK FROM TRAVELLING -- WELL,
IT'S EITHER MORE IMPORTANT FOR
YOU TO STAY TWO METRES AWAY
BECAUSE YOU'RE AT RISK OF HAVING
AND TRANSMITTING THE VIRUS AND,
OF COURSE, WE DON'T WANT TO GIVE
IT TO ANYONE ELSE.
NOW A GUIDELINE THAT HAS BECOME
VERY IMPORTANT AND I HAD
PROMISED YOU TO TELL YOU ALL THE
TRUTH, ALL THE TIME, AND TO WARN
YOU -- WHEN WE'RE TALKING ABOUT
INTERREGIONAL CIRCULATION, WHEN
WE LOOK AT THE NUMBERS RIGHT NOW
THERE ARE TWO REGIONS THAT ARE
MORE AFFECTED THAN THE OTHERS.
MONTRÉAL BEING ONE OF THEM AND
THE EASTERN TOWNSHIPS, AND SO
THAT MEANS TWO THINGS.
IT MEANS THAT THE PEOPLE WHO ARE
IN MONTRÉAL AND THE PEOPLE WHO
ARE IN THE EASTERN TOWNSHIPS,
IT'S EVEN MORE IMPORTANT TO STAY
HOME AS MUCH AS POSSIBLE.
IT ALSO MEANS THAT ALL QUÉBECERS
ARE COME ARE NOT IN MONTRÉAL OR
IN THE EASTERN TOWNSHIPS, WELL,
DON'T PURPOSELY GO TO THOSE
PLACES.
ONLY GO IF IT IS ABSOLUTELY
NECESSARY BECAUSE IF WE KEEP THE
PROPORTION IN MIND THERE'S A LOT
MORE INFECTIONS IN MONTRÉAL AND
IN THE EASTERN TOWNSHIPS.
WE'RE NOT YET AT THE STAGE WHERE
WE'RE GOING TO CLOSE DOWN THOSE
AREAS.
BUT DON'T PURPOSELY GO TO
MONTRÉAL OR TO THE EASTERN
TOWNSHIPS.
NOW, ANOTHER QUESTION THAT I WAS
ASKED OF ME YESTERDAY AND I WAS
ABLE TO THINK ABOUT IT LAST
NIGHT.
PEOPLE WHO CONTINUE WORKING AND
WHO ARE MAKING LESS THAN $2,000
PER MONTH, I CAN UNDERSTAND THAT
IT CAN APPEAR TO BE UNFAIR.
SO I ASKED THE MINISTER OF
FINANCE TO FIND A WAY TO
COMPENSATE YOU.
SO GIVE ME A LITTLE BIT OF TIME
BECAUSE IT'S NOT THAT SIMPLE TO
SET UP, BUT I'M TELLING YOU THAT
THOSE WHO ARE CONTINUING TO WORK
AND WHO ARE MAKING LESS THAN
$2,000, YOU WILL BE COMPENSATED.
TRUST ME, THE MEASURES ARE GOING
TO BE ANNOUNCED AS EARLY AS WE
CAN, BUT I HAVE ASKED THE
MINISTER FOR FINANCE TO SET THAT
UP.
SPEAKING OF THE FINANCE
MINISTER, WHILE YOU SAW THAT
THERE ARE MEASURES ANNOUNCED BY
THE FEDERAL GOVERNMENT, A FEW
MINUTES OR HOURS AGO, FOR
BUSINESSES, WE'VE ALSO HAD
DISCUSSIONS WITH THE FEDERAL
GOVERNMENT FOR BUSINESSES, FOR
THE PROVINCIAL SALES TAX AND
FEDERAL SALES TAX.
SO TO GIVE THEM A BIT OF OXYGEN
AND BREATHING ROOM WE HAVE
AGREED --
>> Rosemary: THAT'S QUEÉBEC
PREMIER FRANÇOIS LEGAULT AND
WE'LL LEAVE HIM FOR A MOMENT TO
GO TO ANOTHER PRESS CONFERENCE.
THE HIGHLIGHT FROM THAT IS THAT
THERE'S BEEN 10 DEATHS IN THE
LAST DAY IN QUÉBEC, BRINGING
THEM TO A TOTAL OF 18 DEATHS IN
THE PROVINCE.
I SHOULD ALSO TELL YOU THAT THEY
HAVE THE HIGHEST NUMBER OF CASES
IN THE COUNTRY WITH NOW MORE
THAN 2,000 CASES.
AN IMPORTANT POINT THOUGH BEFORE
I GO TO MR. MORNEAU TO
CONTEXTUALIZE HERE -- QUEÉBEC HD
ITS SPRING BREAK BEFORE MOST OF
THE REST OF THE COUNTRY.
AND THAT IS AT LEAST IN PART WHY
THEY HAVE SEEN THIS SPIKE OF
CASES AND THE NUMBER OF DEATHS.
WE KNOW THAT ONTARIO'S SPRING
BREAK WAS A COUPLE WEEKS LATER.
SO THAT'S WHY WE MAY SEE A DELAY
IN WHAT WE ARE FIRST SEEING IN
QUÉBEC IN OTHER PARTS OF THE
COUNTRY.
SO KEEP THAT IN MIND.
LET'S GO TO THE ECONOMIC
MEASURES THAT WAS ANNOUNCED
EARLIER TODAY.
THIS IS FINANCE MINISTER BILL
MORNEAU.
>> The Hon. Bill Morneau: IT'S
A REMINDER OF HOW THIS DISEASE
IS IMPACTING SO MANY PEOPLE.
OUR WORK TO CONTAIN THIS VIRUS
JUST CANNOT CEASE.
WE'RE ALL IN THIS TOGETHER.
THE SAME IS TRUE FOR OUR ECONOMY
AND CANADIANS AND CANADIAN
BUSINESSES ARE EXPERIENCING VERY
REAL ECONOMIC ISSUES AS A RESULT
OF THIS OUTBREAK.
I ALSO WANT TO THANK THE
MANUFACTURERS AND THE WORKERS
AND THE BUSINESS OWNERS FOR
MAKING SURE THAT CANADA IS
PREPARED AND IS WELL STOCKED
WITH MEDICAL EQUIPMENT AND OTHER
NECESSITIES.
AND THE GROCERY AND THE PHARMACY
WORKERS WHO ARE MAKING SURE THAT
CANADIANS HAVE THE FOOD AND THE
MEDICINE THAT WE NEED.
[Speaking French]
(Voice of Translator): I WOULD
LIKE TO THANK ALL FIRSTLINE
HEALTH CARE WORKERS AND I WOULD
ALSO LIKE TO THANK MANUFACTURER,
WORKERS AND BUSINESS OWNERS AS
WELL AS GROCERY WORKERS AND TO
MAKE SURE THAT CANADIANS HAVE
THE FOOD AND THE DRUGS THAT THEY
NEED.
[end of translation]
AS WE SAID FROM THE VERY
BEGINNING WE'RE PREPARED TO DO
WHATEVER IT TAKES TO SUPPORT
CANADIANS.
THAT INCLUDES SUPPORTING THE
BUSINESSES THAT CANADIANS OWN
AND RUN.
I KNOW THAT MANY BUSINESS OWNERS
HAVE POURED YEARS INTO BUILDING
BUSINESSES THAT SUPPORT
FAMILIES, THAT SUPPORT
COMMUNITIES, ACROSS THE COUNTRY.
THIS MORNING THE PRIME MINISTER
ANNOUNCED NEW MEASURES FOR
BUSINESSES AS PART OF CANADA'S
COVID-19 ECONOMIC RESPONSE PLAN
TO SUPPORT BUSINESSES AND TO
PROTECT OUR STRONG ECONOMY.
I KNOW THAT MANY BUSINESSES AND
SELF-EMPLOYED PEOPLE ARE WORRIED
ABOUT THE G.S.T., AND THE H.S.T.
PAYMENTS AND CUSTOM DUTIES THAT
ARE COMING DUE.
EFFECTIVE IMMEDIATELY, ANY
PAYMENTS THAT ARE DUE AT THE END
OF MARCH, IN APRIL, IN MAY, ARE
NOW DEFERRED UNTIL THE END OF
JUNE.
THIS MEASURE WILL LEAVE
BUSINESSES WITH AROUND
$30 BILLION OF CASH IN HAND TO
HELP BUSINESSES PAY WORKERS, PAY
SUPPLIERS, PAY THEIR BUSINESSES,
RENT OR MORTGAGES AND ANY OTHER
EXPENSES ANDING DUE.
[Speaking French]
(Voice of Translator): AS WE
HAVE SAID FROM THE VERY
BEGINNING, WE ARE READY TO DO
EVERYTHING TO HELP CANADIANS.
THAT INCLUDES SUPPORT FOR
COMPANIES THAT ARE OWNED AND
MANAGED BY CANADIANS.
THIS MORNING THE PRIME MINISTER
ANNOUNCED THE NEXT SERIES OF
MEASURES TO SUPPORT COMPANIES IN
CANADA'S ECONOMIC INTERVENTION
AGAINST COVID-19.
FROM NOW, G.S.T. AND H.S.T.
PAYMENTS EXPECTED FOR THE END OF
MARCH, APRIL AND MAY, ARE
DEFERRED TO THE END OF JUNE.
THIS MEASURE WILL ALLOW
COMPANIES TO HAVE MORE MONEY IN
THEIR BANK ACCOUNTS SO THAT THEY
CAN PAY WORKERS, PROVIDERS, AS
WELL AS ANY OTHER OUTLAY.
[end of translation]
AND REDUCING THE ADMINISTRATIVE
BURDENS OF BUSINESSES AT THIS
TIME.
THIS WILL GIVE CANADIAN BUSINESS
OWNERS MORE TIME TO MANAGE
PRESSING CHALLENGES.
AND WE KNOW THAT LEAVING CASH IN
THE HANDS OF BUSINESSES IS ONLY
ONE PART OF THE SOLUTION.
DURING THIS TIME, SOME
BUSINESSES MAY NEED CASH
INJECTIONS TO STAY STRONG.
WE'RE ANNOUNCING THREE NEW
PROGRAMMES TO HELP BUSINESSES --
PARTICULARLY SMALL BUSINESSES --
TO ACCESS CAPITAL.
THIS MORNING, THE PRIME MINISTER
ANNOUNCED THE NEW CANADA
EMERGENCY BUSINESS ACCOUNT TO
PROVIDE SMALL BUSINESSES AND
NOT-FOR-PROFITS WITH
INTEREST-FREE LOANS OF UP TO
$40,000.
THIS FUNDING WILL SUPPORT THE
MAIN STREET BUSINESSES THAT GIVE
OUR COMMUNITIES THEIR CHARACTER,
THE LOCAL RESTAURANTS, THE
CORNER COFFEE SHOPS, THE SMALL
TRAVEL AGENCIES, THE SALONS AND
BARBERSHOPS, AND THE MANY OTHER
SMALL BUSINESSES THAT HELP TO
FORM THE VERY BACKBONE OF
CANADA'S ECONOMY.
THIS PROGRAMME WILL PROVIDE
$25 BILLION OF SUPPORT FOR
CANADA'S SMALL BUSINESSES.
LOANS WILL BE AVAILABLE THROUGH
ELIGIBLE FINANCIAL INSTITUTIONS
AND IT WILL BE FULLY GUARANTEED
AND FUNDED BY THE GOVERNMENT OF
CANADA, FULLY GUARANTEED AND
FUNDED.
AND ANYONE WHO PAYS THE LOAN OFF
BY DECEMBER 31, 2022, WILL SEE
25% LOAN FORGIVENESS, UP TO
$10,000.
THIS WILL HELP BUSINESSES TO
HAVE MORE MONEY AT THIS
CHALLENGING TIME.
MORE DETAILS WILL BE COMING
SHORTLY.
[Speaking French]
(Voice of Translator): THE
FEDERAL GOVERNMENT ALSO
ANNOUNCED A NEW EMERGENCY
ACCOUNT FOR CANADIAN BUSINESSES
TO OFFER SMALL BUSINESSES NO
INTEREST LOANS -- INTEREST-FREE
LOANS, UP TO $40,000.
WHOEVER BORROWS THIS MONEY UP TO
DECEMBER 31st THIS YEAR WILL
SEE A 25% LOAN FORGIVENESS, UP
TO A MAXIMUM OF $4,000 TO HELP
OUR BUSINESSES.
MORE DETAILS ON THAT WILL
FOLLOW.
THIS FUNDING WILL SUPPORT
RESTAURANTS, COFFEE SHOPS,
TRAVEL AGENCIES AND SALONS AND
MANY OTHER SMALL BUSINESSES THAT
MAKE OUR COUNTRY SO GREAT.
THESE LOANS WILL BE COMPLETELY
GUARANTEED AND FUNDED BY THE
CANADIAN GOVERNMENT.
[end of translation]
WE ALSO WANT TO MAKE SURE THAT
CANADA'S SMALL AND MEDIUM-SIZED
ENTERPRISES CAN KEEP OPERATING
THROUGHOUT THIS CHALLENGE.
OUR GOVERNMENT RECOGNIZES THAT
MANY ARE PARTICULARLY VULNERABLE
TO THE IMPACTS OF COVID-19.
EXPORT DEVELOPMENT CANADA WILL
WORK WITH FINANCIAL INSTITUTIONS
SO THEY CAN ISSUE NEW OPERATING
CREDIT AND CASH FLOW TERM LOANS
OF UP TO $6.25 MILLION TO SMALL
AND MEDIUM-SIZED BUSINESSES IN
CANADA THAT MAY BE PARTICULARLY
BE VULNERABLE TO THE ECONOMIC
IMPACTS OF COVID-19.
THIS PROGRAMME WILL PROVIDE AN
ADDITIONAL $20 BILLION OF
SUPPORT.
WE ALSO ANNOUNCED A NEW
CO-LENDING PROGRAMME FOR SMALL
AND MEDIUM-SIZED ENTERPRISES.
THE BUSINESS DEVELOPMENT BANK OF
CANADA WILL TEAM UP WITH
FINANCIAL INSTITUTIONS TO OFFER
LOANS UP TO $6.25 MILLION TO
KEEP THEM OPERATING.
THIS INVESTS AN ADDITIONAL 
$20 BILLION IN CANADIAN
BUSINESSES.
BUSINESSES CAN APPLY AND RECEIVE
THESE LOANS DIRECTLY THROUGH
FINANCIAL INSTITUTIONS.
SMALL AND MEDIUM-SIZED
ENTERPRISES WILL BE ABLE TO
ACCESS BOTH PROGRAMMES AND USE
THIS MONEY TO KEEP UP OPERATIONS
AND KEEP OUR ECONOMY STABLE.
[Speaking French]
(Voice of Translator): WE ALSO
WANT TO ENSURE THAT CANADA'S
SMALL AND MEDIUM-SIZED
BUSINESSES CAN CONTINUE TO
FUNCTION DURING THIS CRISIS.
OUR GOVERNMENT WILL GIVE
FINANCIAL INSTITUTIONS FUNDING
SO THAT THEY CAN OFFER NEW LOANS
OF UP TO $6.2 MILLION FOR
CANADA'S SMALL AND MEDIUM-SIZED
BUSINESSES THAT MAY BE -- THAT
ARE ESPECIALLY VULNERABLE TO
COVID EFFECTS.
WE HAVE ALSO ANNOUNCED A NEW
CO-FUNDING PROGRAMME.
CANADA DEVELOPMENT BANK WILL BE
ABLE TO OFFER LOANS UP TO
$6.25 MILLION TO HELP S.M.E.s
TO CONTINUE TO FUNCTION.
BUSINESSES WILL BE ABLE TO ASK
TO RECEIVE THESE LOANS DIRECTLY
THROUGH FINANCIAL INSTITUTIONS.
[end of translation]
THESE ANNOUNCEMENTS REPRESENT
$65 BILLION IN DIRECT SUPPORT
AND AN ADDITIONAL $30 BILLION OF
DEFERRED TAXES FOR A TOTAL OF
$95 BILLION IN ADDITIONAL
SUPPORT FOR THE CANADIAN ECONOMY
AT THIS TIME.
[Speaking French]
(Voice of Translator):
TOGETHER THESE ANNOUNCEMENTS
REPRESENT $65 BILLION IN DIRECT
SUPPORT AND $30 BILLION IN
DEFERRED TAXES FOR A TOTAL OF 
$95 BILLION IN SUPPLEMENTARY
SUPPORT TO THE CANADIAN ECONOMY
AT THIS TIME.
[end of translation]
THIS PROGRAMME WILL ROLL OUT IN
THE NEXT THREE WEEKS AND
INTERESTED BUSINESSES SHOULD
WORK DIRECTLY WITH THEIR CURRENT
FINANCIAL INSTITUTIONS.
I WANT TO MAKE SPECIAL MENTION
THAT TODAY IS THE LAST FRIDAY OF
THE MONTH.
I'M TOLD THAT SENIORS GET THEIR
CHEQUES TODAY TYPICALLY AND
USUALLY HEAD TO BANKS TO DEPOSIT
THEM.
I WOULD ASK PEOPLE TO BE
VIGILANT IN THINKING ABOUT HOW
OUR ACTIONS AFFECT OUR
VULNERABLE NEIGHBOURS.
PLEASE CONSIDER GIVING SENIORS
WHO ARE VERY WORRIED ABOUT
CORONAVIRUS SPACES AT BANK
BRANCHES TODAY.
CANADA'S COVID-19 ECONOMIC
RESPONSE PLAN IS SUPPORTING
BUSINESSES THROUGH A VARIETY OF
MEASURES.
TWO WEEKS AGO I LAUNCHED THE
BUSINESS CREDIT AVAILABILITY
PROGRAMME.
NINE DAYS AGO, WE DEFERRED
INCOME TAX PAYMENTS UNTIL
AUGUST 31st OF THIS YEAR.
THIS WEEK, WE INCREASED CREDIT
FOR FARMERS AND THE AGRI-FOODS
SECTOR.
THE GOVERNMENT HAS ALSO
INTRODUCED MEASURES TO HELP
BUSINESSES TO SUPPORT EMPLOYEES.
ENHANCEMENTS TO THE WORK-SHARING
PROGRAMME HAVE BEEN PARTICULARLY
BEEN IMPORTANT.
THE TEMPORARY 10% WAGE SUBSIDY
FOR UP TO THREE MONTHS THAT WILL
PROVIDE UP TO $25,000 PER
EMPLOYER.
BUT TODAY WE ANNOUNCED A NEW
WAGE SUBSIDY OF UP TO 75% FOR
QUALIFYING SMALL AND
MEDIUM-SIZED BUSINESSES, FOR UP
TO THREE MONTHS RETROACTIVE TO
MARCH 15th.
THIS WILL COME SOON.
THIS PROGRAMME IS INTENDED FOR
BUSINESSES THAT EXPERIENCED
SIGNIFICANT REVENUE REDUCTIONS
BECAUSE OF COVID-19 AND DECIDE
TO KEEP THEIR STAFF AND PAY THEM
IN FULL.
MORE DETAILS WILL AS I SAID BE
AVAILABLE SOON.
THE NEW CANADA EMERGENCY
RESPONSE BENEFIT IS AVAILABLE TO
EMPLOYEES WHO ARE STILL EMPLOYED
BUT ARE NOT RECEIVING INCOME
BECAUSE OF DISRUPTIONS TO THEIR
WORK.
THAT CAN BE BECAUSE OF ANYTHING
TO DO WITH COVID-19.
PRESERVING THE CONNECTION
BETWEEN EMPLOYER AND EMPLOYEE
FOR WHEN BUSINESS GETS BACK TO
NORMAL.
[Speaking French]
(Voice of Translator): FOR
QUALIFYING BUSINESSES, FOR UP TO
THREE MONTHS, RETROACTIVE TO
MARCH 15th.
THIS PROGRAMME IS INTENDED FOR
BUSINESSES THAT EXPERIENCE
SIGNIFICANT REVENUE REDUCTIONS
BECAUSE OF COVID-19 AND DECIDE
TO KEEP THEIR STAFF AND PAY THEM
IN FULL.
MORE DETAILS WILL BE AVAILABLE
SOON.
[end of translation]
THE GOVERNMENT IS AWARE THAT
BUSINESSES IN CERTAIN SECTORS
HAVE BEEN PARTICULARLY IMPACTED
BY THE ECONOMIC IMPACT OF THE
COVID-19 EPIDEMIC.
WE HAVE BEEN WORKING DIRECTLY
WITH FARMS AND THE AIRLINE
INDUSTRY AND ON A PROGRAMME FOR
THE ENERGY SECTOR.
MORE DETAILS ON THESE
DISCUSSIONS AND THE CONCLUSIONS
WILL BE AVAILABLE SOON.
WE KNOW PARTICULARLY AFFECTED
SECTORS HAVE URGENT NEEDS FOR
CREDIT.
[Speaking French]
(Voice of Translator): WE HAVE
WORKED DIRECTLY WITH AIRLINES
AND ON A PROGRAMME FOR THE
AIRLINES SECTOR AS WELL AS A
PROGRAMME FOR THE ENERGY SECTOR.
MORE DETAILS ON THAT WILL SOON
FOLLOW.
WE KNOW THAT THESE AREAS ARE
PARTICULARLY AFFECTED AND HAVE
URGENT NEEDS IN TERMS OF CREDIT.
[end of translation]
SO WHEN THE TIME COMES -- AND IT
WILL COME -- BUSINESSES CAN
BOUNCE BACK QUICKLY AND GET
CANADIANS BACK TO WORK.
IN THESE UNCERTAIN TIMES, SO
MUCH IS STILL UNKNOWN, BUT I
WANT YOU TO KNOW THIS -- YOUR
GOVERNMENT WILL BE BACKING YOU
UP ALL THE WAY.
WE'LL BE HERE TO SUPPORT
CANADIANS EVERY STEP OF THE WAY.
THANK YOU VERY MUCH.
NOW I'M QUITE PLEASED TO BE
SITTING HERE WITH THE GOVERNOR
OF THE BANK OF CANADA STEPHEN
POLOZ WHO HAS A FEW THINGS TO
SAY.
THANK YOU.
>> WELL, THANK YOU, MINISTER.
GOOD AFTERNOON, EVERYBODY.
(Voice of Translator): GOOD
AFTERNOON, EVERYBODY.
[end of translation]
THE HISTORY OF THE GLOBAL
FINANCIAL CRISIS AND ITS
AFTERMATH, WE'RE WELL AWARE THAT
CENTRAL BANKS IN GENERAL HAVE
MODEST ROOM TO MANOEUVRE.
IT'S BEEN A THOUGHT THAT THE
NEXT ECONOMIC SHOCK WOULD NEED
TO BE DEALT WITH MAINLY BY
FISCAL POLICY.
THIS IS THE CASE TODAY, NOT ONLY
BECAUSE INTEREST RATES ARE
ALREADY LOW, BUT BECAUSE OF THE
NATURE OF THE SHOCK THAT WE 
FACE.
AND AN ECONOMY THAT HAS BEEN
SHUT DOWN.
FISCAL POLICY THOUGH HAS THE
RIGHT TOOLS FOR THIS SITUATION
AND THE MEASURES THAT HAVE BEEN
ANNOUNCED WILL BUFFER CANADIANS
AND THE ECONOMY FROM THE EFFECTS
OF THIS SHOCK.
NOW MONETARY POLICY IS PLAYING
AN IMPORTANT COMPLEMENTARY ROLE
IN THIS SITUATION.
WE EFFECTIVELY NEED TO STOP THE
CLOCK, ALLOW OUR MEDICAL EXPERTS
TO COMBAT THE VIRUS, AND THEN
RESTART THE ECONOMY AFTERWARDS.
COMPANIES AND INDIVIDUALS NEED
ACCESS TO CREDIT DURING THIS
PERIOD.
PEOPLE EXPECT TO BE ABLE TO GO
OUT AND TO USE THEIR CREDIT
CARD, DRAW ON THEIR HELOC, AND
COMPANIES EXPECT TO DRAW ON
THEIR CREDIT LINES.
THIS ALL REQUIRES THAT THE
FINANCIAL SYSTEM CONTINUE TO
OPERATE NORMALLY.
AND THAT IS WHY THE BANK HAS
FOCUSED ITS EFFORTS ON MEASURES
THAT ENSURE THAT FINANCIAL
MARKETS FUNCTION AND CREDIT
REMAINS AVAILABLE.
THIS MEANS BUYING VARIOUS
FINANCIAL ASSETS, SO MARKET
PARTICIPANTS CAN GET THE
LIQUIDITY THAT THEY NEED.
ALREADY THESE ACTIONS HAVE
INCREASED THE BANK OF CANADA'S
BALANCE SHEET BY ABOUT
$90 BILLION OVER THE PAST TWO
WEEKS.
WE HAVE MOVED OUR INTEREST RATE
TO 0.25%.
WHICH FOR TECHNICAL REASONS WE
CONSIDER TO BE ITS LOWER BOUND.
WE'RE ALSO LAUNCHING A PAPER
PURCHASE PROGRAMME TO HELP TO
IMPROVE THE FUNCTIONING OF THAT
MARKET WHICH IS A KEY CHANNEL --
CREDIT FOR COMPANIES.
[Speaking French]
(Voice of Translator): TODAY
WE LOWERED OUR INTEREST RATE TO
0.25%.
WHICH WE CONSIDER ITS LOWEST
POSSIBLE RATE.
WE'VE ALSO BEGUN -- BEGUN A
PURCHASING PROGRAMME OF PAPER TO
BE ABLE TO HELP SHORT-TERM
FINANCIAL MARKETS.
[end of translation]
THE GOVERNMENT OF CANADA'S
SECURITIES MARKET IS
FOUNDATIONAL TO OUR FINANCIAL
SYSTEM.
IT'S BEEN FUNCTIONING REASONABLY
WELL IN THE CIRCUMSTANCES, BUT
THE LEVEL OF LIQUIDITY HAS BEEN
WELL BELOW NORMAL.
ACCORDINGLY, WE HAVE ANNOUNCED
TODAY THAT WE WILL BEGIN TO
ACQUIRE THE GOVERNMENT OF CANADA
BONDS FOR OUR BALANCE SHEET.
IN OUR MONETARY POLICY TOOLKIT
WE CALL THIS LARGE-SCALE ASSET
PURCHASES.
HELSAPS.
BUT MANY PREFER THE TERM
QUANTATATIVE EASING OR Q.E.
OUR OBJECTIVE AT THIS TIME IS TO
ENSURE PROPERLY FUNCTIONING
FINANCIAL MARKETS.
AND THE PROGRAMME MAY BE
ADJUSTED DEPENDING ON THE MARKET
CONDITIONS.
HOWEVER, TO REDUCE THE FINANCIAL
MARKET UNCERTAINTY WE'RE ALSO
COMMITTING TODAY TO CONTINUE
PURCHASING GOVERNMENT OF CANADA
BONDS UNTIL THE ECONOMIC
RECOVERY IS WELL UNDERWAY.
[Speaking French]
(Voice of Translator): WE ARE
CONFIDENT THAT SUCH LOW INTEREST
RATES AS LOW AS POSSIBLE AND A
FULLY FUNCTIONING FINANCIAL
SYSTEM WILL PREPARE US FOR THE
COMING ECONOMIC CRISIS ONCE THIS
CRISIS IS ENDED.
[end of translation]
TO HAVE INTEREST RATES AS LOW AS
POSSIBLE AND HAVING
WELL-FUNCTIONING MARKETS WILL
LAY A FOUNDATION FOR A ROBUST
ECONOMIC RECOVERY ONCE THIS
CRISIS HAS PASSED.
THANK YOU.
>> THANK YOU, GOVERNOR, THANK
YOU, ALL OF YOU FOR BEING HERE.
WE'RE VERY HOPEFUL TO HAVE THE
OPPORTUNITY TO ANSWER YOUR
QUESTIONS AND TO GIVE YOU A
SENSE OF WHAT IT IS THAT WE'RE
ANNOUNCING TODAY.
>> THANK YOU.
SO FOR TODAY WE'LL BE STARTING
ON THE PHONE AND WE'LL TAKE
THREE QUESTIONS ON THE PHONE AND
COME BACK TO THE ROOM AND THEN
GO BACK TO THE PHONE.
PLEASE LIMIT YOUR INTERVENTIONS
TO A QUESTION AND A FOLLOW-UP.
MODERATOR, IT'S UP TO YOU.
>> THANK YOU.
OUR FIRST QUESTION... [Speaking
French]
ALEX BALINGAL WITH THE "TORONTO
STAR."
PLEASE GO AHEAD.
[Speaking French]
>> Question: HI, THANK YOU FOR
TAKING MY QUESTION.
JUST LOOKING -- AND THERE'S SO
MANY MEASURES IN THE PAST COUPLE
WEEKS THAT IT'S ALMOST HARD TO
KEEP TRACK NOW.
YOU MENTIONED $95 BILLION IN
SPENDING IN THESE THREE MEASURES
FOR BUSINESSES, BUT CAN YOU GIVE
US A SENSE OF HOW THAT ADDS TO
THE SPENDING THAT WAS IN THE
RESCUE PACKAGE THAT PASSED ON
WEDNESDAY AND WHERE WE'RE AT
WITH A TOTAL COVID-19 FISCAL
RESPONSE?
>> The Hon. Bill Morneau:
WELL, THANK YOU, AND I
UNDERSTAND THAT YOU'RE SAYING
THAT THESE THINGS ARE MOVING
QUICKLY.
I THINK THAT ALL CANADIANS KNOW
THAT THIS CHALLENGE IS ONE THAT
WE NEED TO REACT TO ON A
DAY-BY-DAY BASIS TO MAKE SURE
THAT WE'RE HAVING THE SORT OF
IMPACT ON PEOPLE AND THAT WE CAN
RECOVER IN A WAY THAT WE KNOW
THAT IS IMPORTANT.
SO THAT'S REALLY BEEN WHY WE'VE
BEEN MAKING THESE ANNOUNCEMENTS
ON A VERY REGULAR BASIS.
WHAT WE TALKED ABOUT EARLIER
THIS WEEK AND THE LEGISLATION
THAT WAS PASSED REPRESENTS WHEN
YOU LOOK AT THE DIRECT MEASURES
TO PEOPLE, $52 BILLION IN DIRECT
MEASURES TO CANADIANS.
PRIMARILY DELIVERING MONEY TO
PEOPLE THROUGH THE CANADA
EMERGENCY RESPONSE PROGRAMME,
THE BENEFIT THAT WILL ALLOW
PEOPLE TO HAVE $2,000 PER MONTH
FOR 16 WEEKS.
SO THAT'S THE IMPORTANT PART.
THERE'S A NUMBER OF THINGS AS
YOU KNOW.
THAT ON TOP OF THAT, THAT WE'VE
HAD $55 BILLION IN DEFERRAL OF
INCOME TAXES FOR INDIVIDUALS AND
FOR BUSINESSES.
SO THAT'S HOW WE GOT TO THE
$107 BILLION NUMBER.
WHAT YOU'RE HEARING TODAY IS
SOMETHING A LITTLE BIT
DIFFERENT.
YOU'RE HEARING ABOUT AN
ADDITIONAL DEFERRAL OF TAXES IN
THE MAGNITUDE OF $30 BILLION, SO
THAT SHOULD BE ADDED TO THE
$55 BILLION.
AND ON TOP OF THAT CREDIT THAT
REPRESENTS ANOTHER $65 BILLION
OF CREDIT.
AND SO THAT'S GOING TO ENABLE
THE BUSINESSES THAT GO OUT AND
TALK TO THEIR FINANCIAL
INSTITUTIONS TO ACCESS CREDIT.
AND VERY IMPORTANTLY THAT
INCLUDES THE $40,000 PER SMALL
BUSINESS LOAN OPPORTUNITY, AN
INTEREST-FREE LOAN, THAT IF
PEOPLE PAY THAT BACK BEFORE
DECEMBER 31, 2022, THEY WILL
HAVE UP TO $10,000 OR 25% OF
THAT LOAN FORGIVEN SO THAT'S HOW
THAT WORKS.
SO WE APPRECIATE THAT THIS IS
CHANGING FAST.
I CAN TELL YOU THAT WE WILL
CONTINUE TO REMAIN ON TOP OF IT
TO ENSURE THAT PEOPLE ARE
SUPPORTED, TO MAKE SURE THAT
BUSINESSES ARE SUPPORTED, AND TO
ENSURE THAT WE HAVE AN ECONOMY
THAT CAN COME OUT OF THIS
CHALLENGE IN A WAY THAT WILL
CONTINUE TO PROVIDE
OPPORTUNITIES FOR CANADIANS.
>> Question: AND JUST AS A
FOLLOW-UP, YOU MENTIONED IN YOUR
REMARKS THAT THE WAGE SUBSIDY
WILL BE FOR BUSINESSES WHO
DECIDE TO KEEP THEIR STAFF.
CAN YOU CLARIFY WHAT THAT MEANS.
DOES THAT MEAN IF A BUSINESS IS
LAID OFF THAT SOME EMPLOYEES
THROUGH THIS WOULDN'T BE
REELIGIBLE OR HAVE TO REHIRE TO
GET WAGE SUBSIDIES?
WHAT DOES THAT MEAN EXACTLY?
>> The Hon. Bill Morneau:
WELL, I WANT TO BE REALLY CLEAR.
WE ARE MAKING SURE THAT WE'RE
SUPPORTING CANADIANS WHO ARE
IMPACTED BY THIS COVID-19
SITUATION.
SO THAT'S WHAT WE'RE TRYING TO
DO.
WHAT WE'RE SAYING IS THAT THE
BENEFIT THAT WE'VE PUT FORWARD,
WHICH IS APPLICABLE FOR ANYBODY
WHO IS SICK OR QUARANTINED OR AT
HOME BECAUSE THEY NEED TO BE AT
HOME OR, YOU KNOW, UNABLE TO
WORK, THAT THOSE PEOPLE WILL BE
ABLE TO GET THE BENEFIT, THE
$2,000 PER MONTH FOR FOUR
MONTHS, SO LONG AS THEY WERE
EARNING $5,000 OR MORE IN THE
YEAR BEFORE AND SO LONG AS THEIR
INCOMES HAVE GONE DOWN TO
NOTHING AS A RESULT OF COVID-19.
SO THAT'S IMPORTANT FOR EVERYONE
TO KNOW.
THERE WILL BE BUSINESSES THOUGH
THAT WILL BE IMPACTED BY
COVID-19 BUT WHO WILL WANT TO
CONTINUE TO PAYING THEIR STAFF.
SO FOR THOSE BUSINESSES WHAT
WE'RE SAYING IS THAT WE WILL
PROVIDE THEM WITH A WAGE SUBSIDY
SO THEY CAN CONTINUE PAYING
THEIR STAFF DIRECTLY.
MEANING THAT THE INDIVIDUAL
WON'T BE GETTING THE EMERGENCY
RESPONSE BENEFIT BECAUSE THEY'LL
BE BEING PAID BY THEIR EMPLOYER.
AND WE JUST WANT TO MAKE SURE
THAT THOSE EMPLOYERS HAVE AN
INCENTIVE TO KEEP PEOPLE ON IF
THEY CAN SEE THAT THEY CAN DO
THAT.
WHICH WE THINK THAT IS 
IMPORTANT.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION, MOLLY THOMAS
WITH CTV NATIONAL NEWS.
PLEASE GO AHEAD.
>> Question: HI, MINISTER
MORNEAU.
THE BUSINESSES THAT I'VE BEEN
TALKING TO TODAY, YOU KNOW, THEY
KEEP SAYING THAT THE 75 WAGE
SUBSIDY IS AMAZING FOR THEM AND
THEY'RE HAPPY ABOUT THAT.
BUT THE MINISTER KEPT TALKING
ABOUT QUALIFYING BUSINESSES.
CAN YOU GIVE US AN IDEA OF WHAT
BUSINESSES NEED TO BE QUALIFIED
FOR THIS?
AND WILL THERE BE A TAP FOR
EMPLOYEES OR BUSINESSES ON HOW
MUCH MONEY THEY CAN GET?
>> The Hon. Bill Morneau:
WELL, THANK YOU.
I THINK WHAT THE PRIME MINISTER
SAID THIS MORNING AND IT IS
IMPORTANT FOR US TO RECOGNIZE --
IS THAT WE DO HAVE TO PROVIDE
MORE DETAILS ON THIS.
WE'LL BE WORKING OVER THE COURSE
OF THE WEEKEND TO MAKE SURE THAT
THOSE DETAILS ARE AVAILABLE.
WE APPRECIATE THAT IT'S AN
URGENT AND AN IMPORTANT ISSUE
FOR SO MANY BUSINESSES.
THE IDEA IS THAT THIS IS
SUPPORTING BUSINESSES WHO
REALLY -- THEY HAVE BEEN
IMPACTED BY THE COVID-19 CRISIS,
SO THE REVENUE HAS GONE DOWN
SIGNIFICANTLY.
AND THEY ARE KEEPING THEIR
EMPLOYEES ON, SO THEY'RE
CONTINUING TO PAY THEIR
EMPLOYEES SO IT IS DIFFICULT FOR
A BUSINESS TO DO, OBVIOUSLY, IF
THEY'RE SIGNIFICANTLY IMPACTED.
SO THAT'S THE BROAD IDEA THAT
WE'RE TRYING TO ADDRESS.
AND, YOU KNOW, I -- AFTER THE
PRIME MINISTER'S ANNOUNCEMENT
THIS MORNING, I HAD A NUMBER OF
MESSAGES FROM BUSINESS OWNERS,
FROM SMALL BUSINESS OWNERS,
SAYING THIS IS SOMETHING THAT
WILL HELP US BECAUSE WE WERE
TRYING TO KEEP OUR EMPLOYEES ON
AND CONTINUE TO PAY THEM EVEN
THOUGH WE WEREN'T HAVING THE
SAME REVENUE AS WE HAD BEFORE.
AND SO THIS IS INTENDED FOR
THOSE BUSINESSES.
AND IT WON'T BE EVERY BUSINESS.
SO THEY CAN DO THAT, OF COURSE.
THERE ARE MAY BE OTHER
BUSINESSES TO THE EXTENT THEY
CAN'T DO THAT.
THE GOOD PART ABOUT OUR CANADA
EMERGENCY RESPONSE BENEFIT IS
THAT EVEN IF AN EMPLOYEE SAYS
THAT WE'RE GOING TO FURLOUGH AN
EMPLOYER OR A COMPANY DECIDED TO
FURLOUGH THEIR EMPLOYEES, THEY
CAN MAINTAIN THAT RELATION WITH
THE EMPLOYEE AND THE EMPLOYEE
WILL GET A DIRECT PAYMENT FROM
THE GOVERNMENT.
SO EITHER WAY WE'RE PROTECTING
CANADIANS AND RECOGNIZE THAT,
YOU KNOW, PEOPLE NEED TO BE ABLE
TO HAVE CONFIDENCE THAT THEY'LL
BE ABLE TO GET ACCESS TO FUNDS
DURING A CHALLENGING TIME.
>> Question: SO NO IDEA RIGHT
NOW ON A CAP?
>> The Hon. Bill Morneau: WE
WILL GIVE YOU MORE DETAILS IN
THE DAYS TO COME.
>> Question: OKAY.
MY SECOND QUESTION IS, OF
COURSE, YOU ANNOUNCED MANY
EMERGENCY INITIATIVES FOR
CANADIANS THAT WILL BE HELPFUL.
BUT WE HAVEN'T HEARD A LOT ABOUT
THE ENERGY SECTOR AND YOU
REFERRED TO THAT BRIEFLY IN YOUR
COMMENT.
WHAT WOULD YOU SAY TO PEOPLE IN
ALBERTA AND SASKATCHEWAN THAT
WERE STRUGGLING LONG BEFORE THIS
CRISIS THAT FEEL THEY ARE LAST
ON THE EMERGENCY LIST?
>> The Hon. Bill Morneau:
THEY'RE ABSOLUTELY NOT LAST ON
THE EMERGENCY LIST.
LET ME JUST START BY SAYING THAT
WE RECOGNIZE THE IMPACTS FOR
MANY PEOPLE WORKING IN THE
ENERGY SECTOR IN ALBERTA OR IN
SASKATCHEWAN OR NEWFOUNDLAND AND
LABRADOR, ARE AMPLIFIED BECAUSE
THEY HAVE THE ISSUE AROUND THE
COVID-19, WHICH IS OBVIOUSLY
PRESENTING CHALLENGES.
BUT ON TOP OF THAT THEY ANSWER A
VERY DIFFICULT SITUATION BECAUSE
OF CHANGES AT OPEC BETWEEN
RUSSIA AND SAUDI ARABIA.
SO WE KNOW THAT THESE ARE BOTH
IMPACTS.
WHAT WE'RE TRYING TO MAKE SURE
THAT WE DO FOR THAT SECTOR IS TO
SUPPORT THAT SECTOR WITH CREDIT
THAT WILL BE GUARANTEED BY THE
FEDERAL GOVERNMENT TO A CERTAIN
EXTENT TO ALLOW THEM TO BRIDGE
THROUGH A DIFFICULT TIME.
THESE -- ESPECIALLY SMALL AND
MEDIUM-SIZED COMPANIES.
IT'S REALLY NOT DIFFERENT FROM
THE WAY THAT WE SEE HOW WE'LL
DEAL WITH THE SMALL AND THE
MEDIUM-SIZED BUSINESS SECTOR AS
WE TALKED ABOUT TODAY.
WE NEED TO HELP PEOPLE TO HAVE
CREDIT TO GET THROUGH DIFFICULT
TIMES AND TO FIND ADVANTAGEOUS
TERMS FOR THAT.
BY PROVIDING GUARANTEES TO THE
BANKING SECTOR FROM THE FEDERAL
GOVERNMENT, IT ENABLES THE BANKS
TO CONTINUE LENDING IN
CHALLENGING SITUATIONS.
THAT'S WHAT WE'RE TRYING TO DO.
THE DETAILS ARE BEING WORKED OUT
AS WE SPEAK AND SO THERE WILL BE
MORE OPPORTUNITY TO TALK ABOUT
THAT SHORTLY.
ADDITIONALLY, WE'RE IN
DISCUSSIONS WITH A NUMBER OF
AIRLINE COMPANIES BECAUSE WE
KNOW THAT THAT SECTOR HAS BEEN
PARTICULARLY BEEN HARD HIT AND
THOSE DISCUSSIONS ALSO ARE
PROGRESSING IN A WAY THAT IS
GETTING US TO HAVE OPPORTUNITIES
TO ANNOUNCE THINGS IN THE NOT
TOO DISTANT FUTURE.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION -- PLEASE GO
AHEAD.
[Speaking French]
>> Question: (Voice of
Translator): GOOD AFTERNOON.
MR. MORNEAU, IN BILL 13, A
PROVISION INDICATES THAT THE
EMERGENCY BENEFIT, IN FACT, DOES
NOT APPLY TO A WORKER WHO HAS
NOT STOPPED WORKING VOLUNTARILY.
SO I NEED TO HAVE A CLEAR
ANSWER, MR. MORNEAU, BECAUSE WE
ARE BEING ASKED VERY SPECIFIC
QUESTIONS.
FOR EXAMPLE, IF A NURSE DECIDES
TO LEAVE HER JOB BECAUSE SHE
DOESN'T FEEL COMFORTABLE 
WORKING, OR A CASHIER WORKING IN
A PHARMACY DECIDES TO
VOLUNTARILY LEAVE THEIR
EMPLOYMENT, WILL THEY ALSO BE
ELIGIBLE FOR THE $2,000 PER
MONTH?
THANK YOU.
>> The Hon. Bill Morneau:
(Voice of Translator): I KNOW
THAT IT'S VERY IMPORTANT TO BE
CLEAR.
THERE ARE REALLY TWO VERY
IMPORTANT CONDITIONS.
IF SOMEONE EARNED OVER $5,000
OVER THE PAST 12 MONTHS AND IF
SOMEONE IS IN A SITUATION IN
WHICH THEY HAVE NO OTHER SOURCE
OF INCOME AT THIS TIME -- SO
THAT MEANS THAT IF THE PERSON IS
ILL, IF THE PERSON IS
QUARANTINED, IF THAT PERSON'S
EMPLOYER IS UNABLE TO PAY THEM A
SALARY, THESE ARE CONDITIONS.
THERE DOESN'T HAVE TO BE A
SEPARATION BETWEEN THE EMPLOYEE
AND THE EMPLOYER.
IT MEANS THAT THOSE WHO FIND
THEMSELVES IN A SITUATION IN
WHICH THEY'RE UNABLE TO WORK
BECAUSE OF COVID-19 ARE IN A
SITUATION IN WHICH THEY CAN
RECEIVE THIS BENEFIT.
>> Question: (Voice of
Translator): ALL RIGHT, WELL, I
DON'T QUITE UNDERSTAND.
LET'S SAY A CASHIER WORKING IN A
PHARMACY IN WHICH MANY PEOPLE
WHO ARE POTENTIALLY INFECTED ARE
ENTERING, THAT PERSON MAY NOT
CONTINUE TO WORK BECAUSE SHE
FEARS FOR HER OWN HEALTH AND
SAFETY.
IF SHE RESIGNS CAN SHE STILL
RECEIVE THIS BENEFIT?
>> The Hon. Bill Morneau:
(Voice of Translator): WHAT I'M
SAYING IS THAT WE MUST ASSURE
PEOPLE THAT IF THEY CANNOT WORK,
IF THEY DON'T FEEL COMFORTABLE
IN THEIR WORK, IF THEY DECIDE TO
STAY HOME, THAT THEY CAN APPLY
FOR THE BENEFIT.
THE TWO IMPORTANT CONDITIONS ARE
WHETHER OR NOT THEY EARNED
$5,000 OVER THE PAST 12 MONTHS
AND IF THEY FIND THEMSELVES IN A
SITUATION WHERE THEY CANNOT EARN
INCOME RIGHT NOW BECAUSE OF
COVID-19.
>> Question: (Voice of
Translator): OKAY, SO WHAT I
UNDERSTAND IS THE ANSWER IS YES.
ON ANOTHER SUBJECT, MR. TRUDEAU
SAID YESTERDAY THAT YOU'RE
NEGOTIATING WITH THE MAJOR BANKS
TO ENCOURAGE THEM TO REVIEW
THEIR INTEREST RATES WHICH ARE
USUALLY 19%, 20% FOR CREDIT
CARDS.
WHAT ARE THE BANKS TELLINGOW
TELLING YOUON THAT SUBJECT, MR.?
>> The Hon. Bill Morneau: TO
BE VERY CLEAR, I HAVE BEEN
NEGOTIATING WITH THE BANKS OVER
THE PAST WEEK AND AN IMPORTANT
THING IS TO FIND A WAY FOR
PEOPLE TO HAVE ACCESS TO CREDIT
IN ORDER TO IMPROVE THEIR
SITUATION, VIS-A-VIS THEIR
LOANS.
MEANING MORTGAGE LOANS, AUTO
LOANS.
SO I DON'T HAVE ANYTHING TO SAY
ON THAT TODAY.
BUT OUR DISCUSSIONS CONTINUE.
IN ORDER TO ENSURE THAT EVERYONE
CAN HAVE AN IMPROVED SITUATION.
ALSO I HAVE ALSO DISCUSSED WITH
THE BANKS WHO ASSURED ME THAT IF
SOMEONE FINDS THEMSELVES IN
DIFFICULTY, THAT THEY MAY MISS A
MONTHLY CREDIT CARD PAYMENT OR A
CAR LOAN, FOR EXAMPLE.
SO THERE ARE PROGRAMMES ALREADY
WITH THE BANKS TO DO SO.
AND THOSE ARE ALREADY IN PLACE.
>> THANK YOU.
COMING BACK TO THE ROOM.
THERE YOU GO.
GO AHEAD, PLEASE.
>> Question: SO I'M JUST
WONDERING IF YOU THINK THAT
FEWER PEOPLE ARE GOING TO APPLY
FOR THE EMERGENCY BENEFIT NOW
THAT YOU'VE GOT THAT WAGE
SUBSIDY IN PLACE?
THAT'S MY NUMBER ONE QUESTION.
AND THEN IN TERMS OF TALKING TO
THE BANKS, WHAT ARE YOU ASKING
THEM TO DROP THEIR RATES TO AND
ARE THEY LISTENING, WILL THEY DO
SOMETHING?
AND THEN I HAVE A QUESTION FOR
GOVERNOR POLOZ.
>> A TRICKY WAY TO GET MORE THAN
TWO QUESTIONS IN, IS THAT THE
IDEA.
OUR SENSE IS THAT FOR -- FOR A
LARGE NUMBER OF ORGANIZATIONS
THAT ARE FACING SIGNIFICANT DROP
IN REVENUE, THAT THEY WILL
FURLOUGH THEIR EMPLOYEES AND
THOSE EMPLOYEES WILL GET A
DIRECT PAYMENT FROM THE
GOVERNMENT.
IT WILL BE $2,000 PER MONTH FOR
UP TO FOUR MONTHS.
WE DO KNOW THOUGH THAT THERE ARE
MANY EMPLOYERS OUT THERE WHO
NOTWITHSTANDING THEY HAD A
SIGNIFICANT DROP IN THEIR
REVENUES WOULD LIKE TO KEEP ALL
OF THEIR EMPLOYEES ON AND KEEP
PAYING THEIR EMPLOYEES IN FULL.
THAT IS A SUB-SET OF EMPLOYERS.
I CAN'T TELL YOU THAT I KNOW HOW
LARGE EITHER SUB-SET IS, BUT I
SUSPECT THAT THERE'S FIRMS THAT
WILL AVAIL THEMSELVES OF THAT
OPPORTUNITY.
WE WANTED TO MAKE SURE THAT IS
THERE FOR THEM AND THAT IS
IMPORTANT, BUT PRIMARILY WHAT
WE'RE SAYING TO CANADIANS IS
THAT WHETHER YOU'RE IN THE FIRST
CATEGORY OR THE SECOND CATEGORY
THAT WE HAVE YOUR BACK DURING A
DIFFICULT TIME AND THAT'S
CRITICALLY IMPORTANT.
WITH RESPECT TO OUR DISCUSSIONS
WITH BANKS, I THINK THAT WHAT
WE'RE TRYING TO SAY IS NOT THAT
WE'RE NEGOTIATING ON PARTICULAR
RATES.
THE BANKS WILL CONTINUE TO ACT
IN A COMMERCIAL WAY THAT IS
APPROPRIATE.
BUT WHAT WE'RE TRYING TO MAKE
SURE IS THAT INDIVIDUALS, THAT
SMALL BUSINESSES, HAVE ACCESS TO
CREDIT AND, OF COURSE, HAVING
ACCESS TO CREDIT IS A WAY FOR
PEOPLE TO LOWER THEIR OVERALL
COSTS IN THEIR FAMILY BECAUSE IF
THEY HAVE ACCESS TO LOW-COST
CREDIT.
THE EXAMPLE THEY WOULD GIVE YOU
IS THE APPROACH THAT WE'VE TAKEN
TODAY ANNOUNCED THAT SMALL
BUSINESSES CAN GET ACCESS TO
$40,000 OF INTEREST-FREE DEBT.
SO INTEREST-FREE LOANS FROM THE
BANK.
SO IT REALLY MEANS FOR A SMALL
BUSINESS THEY CAN NOW GET THAT
$40,000, THEY CAN MAKE THEIR WAY
THROUGH A CHALLENGING TIME AND
IF THEY PAY BACK THAT AMOUNT BY
THE END OF THE FIRST PART OF THE
TERM, BY DECEMBER 31, 2022, THEY
WILL HAVE UP TO 25% OF THEIR
LOAN FORGIVEN.
SO IF IT'S A $40,000 LOAN
THEY'LL HAVE $10,000 FORGIVEN.
SO A VERY GOOD POSITION FOR THEM
BECAUSE, OF COURSE, WE DON'T
WANT BUSINESSES TO BE SADDLED
WITH DEBT AND THIS WILL HELP
THEM TO GET THROUGH A TOUGH 
TIME.
>> Question: IN TERMS OF THE
FACT THAT THE COUNTRY MAY WELL
BE IN A RECESSION BUT IT'S
DIFFERENT THAN A USUAL RECESSION
BECAUSE THE ECONOMY IS SOUND.
IS THAT HOW YOU SEE WHAT IS
GOING ON ON WITH CANADA?
AND IS THERE ANY LIMIT TO HOW
MUCH MONEY YOU'RE WILLING TO
PRINT?
>> SO --
>> Rosemary: WE'LL BREAK INTO
OUR COVERAGE HERE ON CBC NEWS
NETWORK AND cbcnews.ca WITH A
MESSAGE FOR PEOPLE WATCHING IN
ONTARIO BECAUSE AROUND -- NOT
AROUND -- AT 2:00 p.m.
EASTERN, YOU WILL GET SOME
EMERGENCY ALERTS SENT TO BOTH
YOUR CELLPHONE AND YOUR RADIO,
OR IF YOU'RE WATCHING HERE ON
TELEVISION.
IT WILL BE AN ALERT THAT LOOKS
VERY MUCH WHAT YOU WOULD KNOW TO
BE AN AMBER ALERT BUT THIS WILL
BE A SPECIAL MESSAGE FROM THE
ONTARIO GOVERNMENT TELLING
TRAVELLERS THAT THEY ARE
REQUIRED TO SELF-ISOLATE FOR 14
DAYS BECAUSE OF THE PANDEMIC.
THE MESSAGE WILL ALSO TELL YOU
NOT TO VISIT STORES, FAMILY OR
FRIENDS.
BUT YOU CAN EXPECT THAT IN 10
MINUTES' TIME ON YOUR CELLPHONE
AND RADIO AND ON YOUR TV SCREENS
IF YOU'RE WATCHING HERE.
WE WANTED TO GIVE YOU A WARNING
THAT IS COMING AND THAT'S WHAT
IT IS, AND IT IS AN AUTHORIZED
MESSAGE FROM THE ONTARIO
GOVERNMENT THAT WILL BE SENT TO
EVERYONE HERE IN THE PROVINCE OF
ONTARIO.
LET'S GO BACK NOW TO OUR PRESS
CONFERENCE WITH THE GOVERNOR OF
THE BANK OF CANADA AND THE
FINANCE MINISTER.
>> I START THIS STORY THOUGH
WITH THE CANADIAN ECONOMY,
BEFORE ALL OF THIS HAPPENED WE
WERE ABOUT A 40-YEAR LOW WITH
EMPLOYMENT AND INFLATION ON
TARGET AND THE ECONOMY IN VERY
GOOD SHAPE AND WAS DEMONSTRATING
RESILIENCE ALL LAST YEAR,
DESPITE THE TRADE WARS THAT WERE
UNDERWAY.
SO WE WERE FEELING PRETTY
CONFIDENT THAT ACTUALLY THIS
YEAR WITH NAFTA AND SO ON THAT
WE WOULD HAVE -- WE WOULD HAVE
THE MAKINGS OF A VERY SUSTAINED
OUTPUT PATH.
WELL, OKAY, NOW WE DON'T HAVE
THAT.
SO SINCE I CAN'T REALLY COMMENT
ON HOW BEHAVIOUR IS BEING
AFFECTED BY ALL OF THIS, OUR
CONSUMER CONFIDENCE AND BUSINESS
CONFIDENCE, WHAT MATTERS THERE
ARE THE POLICIES BUTTRESSING
THAT CONFIDENCE AND THIS IS WHAT
YOU'RE SEEING IS THAT THOSE ARE
MAJOR FISCAL EFFORTS TO DO THAT.
IN THE MEANTIME OUR PART IS TO
MAINTAIN THE FLOW OF CREDIT SO
THE SYSTEM IS WORKING SO THAT
BANKS CAN FUNCTION IN THEIR
USUAL WAY.
INDEED, RIGHT NOW IN
EXTRAORDINARY WAYS, RIGHT, BANKS
ARE DOING THINGS LIKE DEFERRALS
OF MORTGAGES AND SO ON WHICH,
YOU KNOW, IT'S ALMOST LIKE
POLICYMAKING, ISN'T IT?
IT'S VERY HELPFUL ASPECT.
SO ALL OF THAT TO SAY THAT I
DON'T THINK THAT IT'S RELEVANT.
I MEAN, HOW MUCH OF A -- HOW
MUCH DOES -- HOW MUCH DOES IT
CONTRACT IS HOW WE WOULD MEASURE
WHETHER OR NOT WE WERE IN A
RECESSION.
IT'S ALMOST IRRELEVANT.
IT'S JUST A NUMBER.
WHAT MATTERS IS WHAT IS GOING ON
UNDER THE SURFACE AND IF WE
MANAGE TO BUFFER CONSUMER
CONFIDENCE AND BUSINESS
CONFIDENCE, I THINK THAT WE
WILL, AND IF THE POLICIES THAT
WE TALK HERE, IF THEY WORK AS
INTENDED, I THINK THAT WE'LL
MAINTAIN THOSE LINKAGES BETWEEN
THE COMPANIES AND THEIR
EMPLOYEES.
AND THAT MEANS THAT WE'LL HAVE A
VERY ROBUST RETURN TO WHERE WE
WERE.
WE WILL HAVE LIMITED OR POSSIBLY
AVOIDED PERMANENT DAMAGE TO THE
ECONOMY.
THAT'S WHAT THAT IS ALL ABOUT.
YOUR OTHER QUESTION IS ABOUT
Q.E.
YOU POSED IT IN A WAY THAT I
THINK IS INTENDED TO BE A LITTLE
BIT PEJORATIVE PERHAPS.
SO WE AS WE SAID WITH Q.E. --
Q.E., THE SHORT FORM FOR Q.E. IS
YOU'RE PRINTING MONEY.
IT'S TRUE THAT THE CENTRAL BANK
BALANCE SHEET IS INCREASING,
THAT'S EXACTLY HOW WE DO PRINT
MONEY.
BUT WHEN WE THINK OF -- WHEN WE
WERE FIRST DOING OUR ECONOMIC
CLASSES WE THINK OF PRINTING
MONEY AS PRINTING MONEY AND
GIVING IT TO PEOPLE IN AN
ENVELOPE AND THEY SPENT IT.
SO IT'S OUT THERE PERMANENTLY.
SO THE OLD THING ABOUT TOO MUCH
MONEY CHASING TOO FEW GOODS,
PRINTING MONEY IS NOT A
SUSTAINABLE POLICY.
THAT'S BEEN PROVEN MANY TIMES IN
HISTORY.
WHAT WE'RE DOING TODAY IS THAT
WE'RE DOING Q.E. IN ORDER TO
ACCOMMODATE THE DEMANDS FOR
LIQUIDITY BY ALL SORTS OF
PEOPLE, NOT JUST MARKET
PARTICIPANTS.
NOT JUST BY BANKS, BUT BY
COMPANIES AND INDIVIDUALS.
SO COMPANIES WITH, YOU KNOW,
LARGE CREDIT LINES AT THEIR
BANKS WHICH ARE THERE FOR A
RAINY DAY ARE PULLING THEIR
ENTIRE CREDIT LINE, SO THEY HAVE
THE CASH IN HAND.
WHERE DOES THE CASH GO?
THEY'LL PUT IT, YOU KNOW, THEY
DON'T TAKE IT OUT PER SE BUT
THEY KNOW THAT THEY HAVE EVEN
MORE READY ACCESS TO IT NOW THEY
HAVE PULLED IT DOWN THEIR LINE.
WELL, IT'S GOING BACK INTO THE
SYSTEM BUT IT'S BEING HELD FOR
PRECAUTIONARY REASONS, NOT IN
ORDER TO GO OUT AND TO SPEND IT
THE WAY THAT YOU THINK OF AS
MONEY PRINTING.
SO I'M TRYING TO DRAW AN
IMPORTANT DISTINCTION HERE WHEN
I HOPE THAT YOU APPRECIATE THE
DEMAND FOR LIQUIDITY RISES, AS
THE CENTRAL BANK EXPANDS TO
ACCOMMODATE IT.
AND SOMEDAY WE WON'T NEED AS
MUCH LIQUIDITY IN THE MARKETS IN
ORDER TO KEEP THEM FUNCTIONING.
BUT IN ORDER TO MAKE SURE THAT
THE MARKETS UNDERSTAND THAT
THERE'S -- THIS Q.E. PROGRAMME
IS THERE TO STAY, WE'VE SAID
EXPLICITLY TODAY THAT WE'LL
CONTINUE TO BUY GOVERNMENT OF
CANADA DEBT UNTIL SUCH TIME AS
WE HAVE A RECOVERY IN THE
ECONOMY WELL UNDERWAY.
AND WE CAN FUSS ABOUT THOSE
DETAILS AT A FUTURE DATE.
BUT THE MAIN THING IS THAT
ESSENTIALLY WHEN YOU ASK HOW BIG
CAN IT BE -- THERE'S NO
THEORETICAL LIMIT TO THIS.
AND I'M HOPEFUL THAT IT'S TOO
BIG.
YOU KNOW, THAT THE -- IN FACT,
THE FISCAL ACTIONS ARE
SUFFICIENT YOU WOULD EXPECT TO
BE A LOT OF CUSHIONING TO WHAT'S
GOING ON.
AND THAT'S FINE, AS I SAID THIS
MORNING THAT NO FIREFIGHTER EVER
GOT CRITICIZED FOR USING TOO
MUCH WATER.
>> THANK YOU.
>> RACHEL HAINES FROM CTV.
>> Question: FOR MR. MORNEAU,
TODAY THE WAGE SUBSIDY PLAN SAYS
THAT SMALL BUSINESSES CAN ACCESS
IT FOR THREE MONTHS.
BUT EARLIER DR. NJOO SAID THAT
THIS COULD GO ON FOR MANY MONTHS
IS WHAT WE'RE LOOKING AT.
ARE YOU WILLING TO EXPAND THIS
PROGRAMME AT THE RATE OF 75% FOR
AS LONG AS THIS CRISIS
CONTINUES?
>> The Hon. Bill Morneau: I
THINK WHAT WE'RE POINTING OUT IS
THE REALITY OF THE SITUATION
THAT WE FIND OURSELVES IN.
WE CAN'T -- NOBODY CAN REALLY
PREDICT -- THE DEPTH OR THE
DURATION OF THIS CHALLENGE.
YOU HAVE SEEN US RESPOND, I
WOULD ARGUE, AS FAST AS WE CAN
TO THE CHALLENGES THAT WE'RE
FACING TO CHANGE OUR APPROACH IN
A WAY THAT PROTECTS CANADIANS.
WHAT WE'RE TALKING ABOUT TODAY
IS MAKING SURE THAT PROTECTING
BUSINESSES THAT WANT TO TAKE THE
COURSE OF KEEPING THEIR
EMPLOYEES ENGAGED.
I THINK THAT WE'LL BE OPEN TO
RESPONDING TO THE CHALLENGES
THAT WE FACE.
SO WE AREN'T THERE YET.
SO I DON'T NEED TO YET COME TO
THAT CONCLUSION.
BUT WHAT WE'VE DEMONSTRATED IS
THAT WE DO WANT TO ADDRESS THIS
ISSUE AND WE ABSOLUTELY BELIEVE
THAT IT'S IMPORTANT TO PROTECT
CANADIANS, TO MAKE SURE THEY
HAVE MONEY FOR WHAT THEY NEED
AND TO PROTECT BUSINESSES SO
THEY CAN COME OUT OF THIS
CHALLENGE.
AND IF THE CHALLENGE IS LONGER,
OR DEEPER, THEN WE'LL RESPOND
ACCORDINGLY.
>> Question: THE WAGE SUBSIDY
CAME A BIT LATE BECAUSE OTHER
COUNTRIES HAD BEEN IMPLEMENTING
IT AND THERE WERE CALLS IN
CANADA TO HAVE IMPLEMENTED A 75%
WAGE SUBSIDY.
MORE THAN A MILLION PEOPLE HAVE
APPLIED FOR E.I. AND THERE ARE A
LOT OF LAYOFFS.
SO ARE BUSINESSES IN A TOUGHER
SITUATION THAN WHAT IT WOULD
HAVE BEEN HAD THIS MEASURE BEEN
PREVIOUSLY ANNOUNCED AND COULD
MORE LAYOFFS BEEN ANNOUNCED IF
THIS LAYOFF HAD COME SOONER?
>> The Hon. Bill Morneau: I'LL
NEVER BE ABLE TO KNOW WHAT MIGHT
HAVE HAPPENED "IF."
WHAT I KNOW IS THAT WHAT WE'RE
FOCUSED ON FROM DAY ONE.
WE HAVE LOOKED AT WHAT IS THE
BEST WAY THAT WE CAN GET FUNDS
TO CANADIANS WHO ARE IMPACTED BY
THIS REALLY IMPORTANT CHALLENGE.
IN OUR SITUATION, IN OUR
ECONOMY, WE HAVE ABOUT
5.7 MILLION PEOPLE OUT OF THE
19 MILLION PEOPLE WHO WORK EACH
DAY AND ARE NOT EMPLOYED BY AN
EMPLOYER.
SO WE WERE VERY FOCUSED ON HOW
DO WE MAKE SURE THAT EVERYBODY
GETS ACCESS TO FUNDS.
SO IT MEANT FOR THE, YOU KNOW,
THE PERSON WHO IS A PERSONAL
SUPPORT WORKER WHO WORKS ON
THEIR OWN OR SOMEBODY WHO DRIVES
AN UBER, ALL OF THESE PEOPLE WHO
AREN'T NECESSARILY ATTACHED TO
AN EMPLOYER AND WE NEED TO
FIGURE OUT HOW TO GET MONEY TO
THEM AND TO GET MONEY WHO MIGHT
BE OFF WORK, AT HOME SICK, AND
TO DEAL WITH PEOPLE WHO MIGHT
NOT BE GETTING INCOME BECAUSE
THE EMPLOYER SAID THAT WE CAN'T
PAY YOU ANYMORE.
SO WE REALISED THIS IS THE MOST
IMPORTANT CHALLENGE.
YOU HAVE SEEN US REACT QUICKLY.
THAT TO ME WAS THE MOST
IMPORTANT ISSUE THAT WE NEED TO
GET ON VERY RAPIDLY AND IT'S A
BIG CHALLENGE.
BECAUSE WE NEED TO MAKE SURE
THAT WE CAN SUPPORT ALL OF THOSE
PEOPLE AND WE HAD TO LOOK AT OUR
SYSTEMS TO MAKE SURE THAT WE CAN
DELIVER.
I'M NOW EACH DAY WE'RE GETTING
MORE AND MORE DETAILS OF EXACTLY
WHEN WE CAN DELIVER.
SO PEOPLE AS OF THE WEEK OF
APRIL 6th, DURING THAT WEEK,
WE'LL BE ABLE TO GO ONLINE AND
IN A SIMPLE WAY TO GET ACCESS TO
MONEY THROUGH THE C.R.A.
THAT WE THINK IS REALLY
IMPORTANT.
THIS PROVIDES ANOTHER CHANNEL.
SO WE'RE GOING TO KEEP
RESPONDING APPROPRIATELY AND WE
WON'T ALWAYS GET IT RIGHT.
THIS IS MOVING SO FAST THAT WE
WON'T ALWAYS GET IT RIGHT BUT WE
WILL KEEP WORKING AT IT TO MAKE
SURE THAT WE DO GET IT RIGHT AND
THAT WE DO SUPPORT PEOPLE AND
THAT WE DEAL WITH CHALLENGES
THAT COME UP TOMORROW AND THE
DAY AFTER AND THE WEEK AFTER
THAT
>> DO WE HAVE ANOTHER QUESTION
IN THE ROOM?
OKAY, WE'LL GO BACK TO THE
PHONE, MODERATOR, UP TO YOU.
>> THANK YOU.
OUR NEXT QUESTION [Speaking
French]
FROM TERESA WRIGHT WITH THE
CANADIAN PRESS.
PLEASE GO AHEAD.
[Speaking French]
>> Question: HELLO, MR. MORNEAU.
WE HAVE HEARD EVOLVING SPENDING
MEASURES THAT WERE ANNOUNCED AS
OF THE LAST COUPLE DAYS.
YOU SAY THAT THERE'S MORE
SUPPORT COMING FOR DIFFERENT
INDUSTRIES.
HOW MUCH SPENDING OVERALL ARE
YOU CONSIDERING?
AND WHAT ARE ALL OF THE -- ALL
OF THE OTHER MEASURES THAT ARE
UNDER CONSIDERATION RIGHT NOW?
>> The Hon. Bill Morneau:
WELL, THANK YOU.
I THINK THAT THE FIRST THING TO
FRAME MY RESPONSE TO YOUR
QUESTION IS THAT WE START WITH A
VERY GOOD FISCAL POSITION.
SO KNOWING THAT THAT IS A REALLY
GOOD STARTING POINT MEANS THAT
WE ARE FORTUNATE IN CANADA.
WE ACTUALLY HAVE THE CAPACITY TO
DEAL WITH THIS IN A WAY THAT WE
NEED TO.
SO WE HAVE THE CAPACITY TO DEAL
WITH THIS IN THE WAY THAT WE
NEED TO.
I WILL TELL YOU THAT WE HAVE NOT
PUT A CAP ON WHAT WE MIGHT NEED
TO INVEST TO SOLVE THIS PROBLEM,
TO MAKE SURE THAT WE PROTECT
CANADIANS.
IT CONTINUES TO EVOLVE.
SO WE'RE GOING TO RESPOND
APPROPRIATELY.
THE MEASURES THAT WE HAVE PUT
OUT SO FAR MEAN THAT WE ARE --
WE ARE PUTTING OUT 5% OF OUR
OVERALL ECONOMY OR MORE.
AND THAT'S BEFORE WE START
THINKING ABOUT THE CREDIT THAT
WE'RE PUTTING IN PLACE FOR
BUSINESSES TO GET THROUGH THIS
TIME PERIOD.
SO IT'S VERY SIGNIFICANT AND IT
IS ENTIRELY POSSIBLE THAT WE
WILL NEED TO MAKE -- IT WILL BE
MORE SIGNIFICANT AND WE'LL DEAL
WITH THOSE THINGS AS WE GO
ALONG. AS FOR NUMBER MEASURES WE
CONTINUE TO LOOK AT -- NEW
MEASURES WE CONTINUE TO LOOK AT
HOW TO SUPPORT PEOPLE TO GET
THROUGH THIS TIME.
AS WE HAVE NEW THINGS THAT WE
NEED TO INTRODUCE, PEOPLE WHO
ARE FACING CHALLENGES, WE NEED
TO SUPPORT VULNERABLE CANADIANS
WHO MIGHT FIND THEMSELVES IN A
PARTICULARLY DIFFICULT
SITUATION.
SO WE'RE GOING TO BE TALKING
MORE ABOUT THOSE THINGS IN THE
DAYS TO COME AND WE'LL DO IT AS
SOON AS WE HAVE MORE DETAILS FOR
CANADIANS.
>> Question: I CAN APPRECIATE
THAT YOU'RE SAYING THAT THERE'S
NO CAP, BUT IS THERE A NUMBER
THAT YOU HAVE IN MIND IN TERMS
OF RIGHT NOW WHAT THE OVERALL
SPENDING THAT THE ECONOMY CAN
TAKE RIGHT NOW AND WHAT THE PLAN
IS THERE?
>> The Hon. Bill Morneau: NO,
THERE'S NOT A CAP.
THERE'S A REALIZATION THAT WE
NEED TO SUPPORT CANADIANS AND
WE'LL DO WHATEVER IT TAKES TO
SUPPORT CANADIANS.
THERE'S A REALIZATION THAT WE
NEED TO COME OUT OF THIS STRONG
SO WE NEED TO SUPPORT BUSINESSES
SO THEY CAN ACTUALLY BRIDGE THE
GAP.
WE'RE ALWAYS GOING TO
RESPONSIBLY LOOK AT WHAT THESE
PROGRAMMES COST, BUT THAT IS NOT
THE KEY ISSUE RIGHT NOW.
WE'VE GOT LITERALLY MILLIONS OF
PEOPLE WHO ARE WORRIED ABOUT
WHETHER THEY'RE GOING TO HAVE
THE MONEY TO SUPPORT THEIR
FAMILIES IN THE COMING WEEKS.
THAT IS FIRST PRIORITY.
AND THAT'S WHERE WE'RE GOING TO
CONTINUE TO PLACE OUR FOCUS.
THOSE BUSINESSES THAT ARE REALLY
THE PLACE WHERE PEOPLE GET THEIR
JOBS, THOSE INCLUDING
NOT-FOR-PROFITS WHERE PEOPLE GO
TO WORK EVERY DAY, WE WANT THEM
TO BRIDGE THIS GAP.
WE EXPECT THAT THIS WILL BE
DIFFICULT.
BUT RELATIVELY SHORT IN TERM.
SO WE NEED TO FIND A WAY TO
BRIDGE THAT.
WE'RE NOT GOING TO PUT A CAP ON
IT, WE'RE GOING TO DO WHATEVER
IT TAKES TO SUPPORT PEOPLE.
>> THANK YOU.
MERCI.
OUR NEXT QUESTION, [Speaking
French]
FROM DILLON ROBINSON WITH THE
WINNIPEG FREE PRESS.
PLEASE GO AHEAD.
[Speaking French]
>> Question: THE PREMIER OF
MANITOBA HAS ASKED FOR EMERGENCY
LOANS FOR PROVINCES.
AND I'M JUST WONDERING IF YOU
HAD THAT REQUEST FROM ANY OF THE
PROVINCES AND IF YOU'RE PLANNING
TO DO ANYTHING LIKE LOOK INTO
THAT REQUEST?
>> The Hon. Bill Morneau:
WELL, THANK YOU FOR THAT
QUESTION.
I THINK THAT -- THAT'S A
QUESTION THAT MAY BE WELL
ADDRESSED BY THE GOVERNOR.
I CAN SAY FROM MY PERSPECTIVE
THAT WE ARE IN REGULAR CONTACT
WITH THE PROVINCES AND I'M
HOLDING DAILY CALLS WITH MANY OF
THEM.
WE HAVE A REGULARLY SCHEDULED
WEEKLY CALL.
WE KNOW THAT THE CHALLENGES ARE
PLACING PRESSURES ON PROVINCES.
WE KNOW THAT WE NEED TO WORK
TOGETHER AROUND THE HEALTH
CHALLENGES FIRST AND FOREMOST.
AND TO MAKE SURE THAT THEY'RE
RESILIENT ALSO IN THE FACE OF
THIS ISSUE.
SO THAT'S OUR CONTINUING GOAL.
AND I KNOW THAT THE GOVERNOR HAS
LIKELY SOME THINGS TO SAY ABOUT
THE OVERALL MARKETS.
GOVERNOR?
>> YES, THANKS, MINISTER.
I MEAN, OF COURSE, IF THERE WERE
TENSIONS OR STRESSES, I GUESS,
IS A BETTER -- A BETTER WORD --
IN THE GOVERNMENT OF CANADA
MARKET, THERE'S EVEN BIGGER
STRESSES IN THE PROVINCIAL BOND
MARKET.
THIS IS TOTALLY UNDERSTANDABLE
WHEN LIQUIDITY IS IN SHORT
SUPPLY.
AND SO WHAT WE'VE DONE IS THAT
LAST WEEK WE STARTED A PROGRAMME
TO PURCHASE PROVINCIAL
SECURITIES THAT ARE AT ISSUE.
SO WE ARE TAKING 40% OF EACH
SHORT-TERM -- OR SHORT-TERM
ISSUE FROM PROVINCES.
WE'RE WORKING WITH THE
TREASURERS ACROSS THE COUNTRY TO
CREATE PREDICTABILITY ALONG THAT
FINANCING SCHEDULE.
AND SO THEY DON'T ALL COME THE
SAME DAY.
WE'RE ORGANIZING OURSELVES SO
THERE'S ONE OR TWO IN EACH
TRADING DAY AND SO THAT'S
WORKING WELL, IT'S ALREADY HAD
AN IMPACT ON SOME OF THE
INDUSTRY.
SPREAD.
SO WE KNOW THAT PEOPLE HAVE
NOTICED THAT WE'RE THERE.
SO THIS SHOULD EASE THE
FINANCING CONSTRAINTS FOR THE
PROVINCES AND AT LEAST GIVE THEM
PREDICTABILITY FOR THEIR
NEAR-TERM CASH FLOWS.
I MEAN, AT THIS STAGE WE'RE
FOCUSING ON SHORT-TERM PAPER
PRECISELY BECAUSE WE ALL BELIEVE
THIS IS A SHORT-TERM SHOCK THAT
WE'RE DEALING WITH.
THE IDEA IS TO GET US -- TO
BUILD A BRIDGE TO NORMALCY AND
ALTHOUGH, OF COURSE, THERE'S
UNCERTAINTY HOW LONG THAT WOULD
BE, WE ARE ALL HOPING THAT IT'S
NOT VERY LONG.
YOU KNOW, IT'S, SAY, THREE
MONTHS, FOUR MONTHS, THAT WOULD
BE WELCOME IF IT WORKS OUT THAT
WAY.
AND SO THE FINANCING THAT WE PUT
IN PLACE IS MEANT TO HAVE THAT
AS A VISION, BUT, OF COURSE, AS
I SAID IN THE ANSWER TO THE
PREVIOUS QUESTION THAT WE CAN
RAMP UP ANY ONE OF THESE
PROGRAMMES IF NEED BE, IF THE
SITUATION TAKES LONGER OR
BECOMES MORE SEVERE.
>> Question: AND JUST A
FOLLOW-UP FOR GOVERNOR POLOZ.
I APOLOGISE, THE PROPOSAL IS FOR
AN EMERGENCY CREDIT AGENCY, NOT
LOANS.
I MISSPOKE.
THE BASIS OF THAT WOULD BE THAT
OTTAWA WOULD LIKELY HAVE A
CHEAPER INTEREST RATE THAN SOME
OF THE PROVINCES.
AND I'M JUST WONDERING IF
PURCHASING PROVINCIAL SECURITIES
IS A BETTER OPTION THAN HAVING
SOMETHING LIKE AN EMERGENCY
CREDIT AGENCY?
>> WELL, THE OBVIOUS ADVANTAGE
IS THAT WE CAN DO IT AT THE DROP
OF A HAT WHICH IS WHAT WE DID.
WE ANNOUNCED IT -- AT THE
BEGINNING OF THE WEEK AND WE DID
DEALS THIS WEEK.
AND SO THERE'S NOTHING TO SET UP
EXCEPT A BIT OF STRESS IN OUR,
FRANKLY, OVERWORKED TRADING
OPERATIONS, WHICH IS THREE
GROUPS OF PEOPLE SCATTERED SO
THEY DON'T ALL BECOME ILL
TOGETHER.
AND THEY'RE DOING A REMARKABLE
JOB OF EXECUTING AS I SAID THAT
WE HAVE ACCUMULATED OVER
$90 BILLION IN TWO WEEKS ALREADY
OF ADDITIONAL ASSETS ON OUR
BALANCE SHEET DOING PROGRAMMES
THAT WE HAVE NEVER DONE BEFORE
FOR THE MOST PART.
SO IT'S QUITE A TRIBUTE TO FAST
ACTING.
SO, I MEAN, THAT I THINK -- WHAT
IS HAPPENING THERE IS, OF
COURSE, THERE'S ALWAYS A MODEST
SPREAD BETWEEN THE GOVERNMENT OF
CANADA AND PROVINCIAL INTEREST
RATES, BUT INTEREST RATES ARE
ALL LOW.
SO, I MEAN, NONE OF THIS IS
EXPENSIVE FINANCING.
EVERYBODY IS BORROWING VERY
INEXPENSIVELY AT THIS STAGE.
SO I DON'T REALLY THINK THAT THE
COST OF FINANCING IS THE ISSUE.
IT'S THE AVAILABILITY, GIVEN
THAT MARKETS ARE DEMANDING
LIQUIDITY.
AND SO WE'RE IN THERE TO MAKE
SURE THAT THE MARKET FUNCTIONS
IN BOTH DIRECTIONS AND APPEARS
TO BE THAT WE'RE OFF TO A GOOD
START.
I WON'T DECLARE VICTORY, OF
COURSE, BECAUSE WE HAVEN'T DONE
SOMETHING FOR EVERY PROVINCE 
YET.
WE'LL KEEP DOING IT UNTIL THE
CONDITIONS ARE NORMALIZED, IT'S
AS SIMPLE AS THAT.
AND, AGAIN, THE SIZE IS WHATEVER
MARKET CONDITIONS DEMAND.
>> THANK YOU.
WE'LL TAKE ONE LAST QUESTION.
>> THANK YOU.
MERCI.
OUR LAST QUESTION IS FROM
MICHELIN AVLAGNE.
>> Question: (Voice of
Translator): THANK YOU.
MR. MORNEAU, I WOULD LIKE TO
HEAR YOUR THOUGHTS ONCE AGAIN ON
WHAT ALL OF THIS MEANS, THAT
THIS IS THIS MORNING'S
ANNOUNCEMENT FOR SMALL
BUSINESSES.
WHAT THAT ANNOUNCEMENT MEANS FOR
EMPLOYEES WHO WERE ALREADY LAID
OFF AND HOW THIS IS ALL GOING TO
WORK.
WILL THEY STILL RECEIVE THE
EMERGENCY BENEFIT?
OR IS IT NOW UP TO THEIR
EMPLOYERS TO PAY THEM?
AND DO WE EXPECT TO SEE SUCH
MEASURES FOR MEDIUM-SIZED
BUSINESSES TOO?
YOU TALKED ABOUT BIG COMPANIES
AND SMALL COMPANIES BUT WHAT
ABOUT MEDIUM-SIZED BUSINESSES?
>> The Hon. Bill Morneau:
(Voice of Translator): THANK
YOU.
FOR THOSE WHO NOW FIND
THEMSELVES IN A SITUATION
WITHOUT INCOME BECAUSE OF
COVID-19, IF SOMETHING HAS
ALREADY BEEN DONE WITH THEIR
EMPLOYER, THEY WILL HAVE THE
OPPORTUNITY TO RECEIVE THE
EMERGENCY BENEFITS.
WHICH WILL BE THERE FOR THEM.
SHOULD THEIR EMPLOYER DECIDE TO
RECONSIDER THEIR OPTIONS, THERE
ARE OTHER WAYS TO GO ABOUT
THINGS, MEANING THAT THEY CAN --
THINGS CAN HAPPEN WITH THE
EMPLOYER.
BUT I THINK THAT MOST OF THE
PEOPLE WHO FIND THEMSELVES IN
SUCH A SITUATION NOW WILL HAVE
AN OPPORTUNITY FOR EMERGENCY
BENEFITS FOR THE MONTH OF APRIL.
BUT NOW EMPLOYERS HAVE A CHOICE
AND THAT'S AN IMPORTANT THING.
WE BELIEVE THAT THIS WILL MAKE
PEOPLE FEEL MORE SECURE.
AND WITH THE EMERGENCY BENEFIT,
THEY CAN CONTINUE THAT
RELATIONSHIP WITH THE EMPLOYER
AND STILL COLLECT THE EMERGENCY
BENEFIT.
TODAY WE HAVE ALSO ANNOUNCED
THAT IT WILL BE EASIER FOR SMALL
AND MEDIUM-SIZED BUSINESSES TO
ONTAIN CREDIT.
SO WE -- OBTAIN CREDIT.
SO WE ARE THERE FOR BIG
BUSINESSES.
BUT WHAT WE DID AT THE VERY
BEGINNING WAS FOR SMALL AND
MEDIUM-SIZED BUSINESSES AND
THAT'S PARTS OF THIS MORNING'S
ANNOUNCEMENT.
THAT IS, THE POSSIBILITY OF A
LOAN UP TO $40,000 FOR SMALL AND
MEDIUM-SIZED BUSINESSES AND
THAT'S VERY IMPORTANT BECAUSE
IT'S AN INTEREST-FREE LOAN AND
IF THE SMALL AND MEDIUM-SIZED
BUSINESSES REPAY THE LOAN BEFORE
DECEMBER 31st, 2022, THEY WILL
RECEIVE -- THE LOAN WILL BE
FORGIVEN OF UP TO 25%, SO THAT
CAN GO UP TO $10,000.
THAT'S A VERY IMPORTANT WAY FOR
THEM TO BE ABLE TO BE CONFIDENT
THAT ONCE THESE CHALLENGES HAVE
PASSED THAT THEY CAN RECOVER
THEIR BUSINESS AND CONTINUE
OPERATIONS AND THAT'S VERY
IMPORTANT FOR THEM AND IT'S VERY
IMPORTANT FOR OUR ECONOMY TOO.
>> (Voice of Translator):
THANK YOU.
>> Question: (Voice of
Translator): SOME COUNTRIES
HAVE ANNOUNCED HELP FOR SMALL
BUSINESSES FOR SOME TIME NOW.
FOR EXAMPLE, IN DENMARK.
HERE, THINGS ARE MOVING, BUT DO
YOU BELIEVE THAT YOU IMPERILED
OR, RATHER, THAT YOU MADE THE
SITUATION WORSE FOR BUSINESSES
BY DELAYING THIS ANNOUNCEMENT?
>> The Hon. Bill Morneau:
(Voice of Translator): I KNOW
THAT THINGS ARE CHANGING
QUICKLY.
WE DECIDED AT THE BEGINNING THAT
THE MOST IMPORTANT THING TO DO
WAS TO PROTECT PEOPLE WHO WILL
FIND THEMSELVES WITHOUT INCOME.
THAT'S WHY WE CREATED THIS
EMERGENCY BENEFIT.
AN APPROACH THAT IS GOING TO
ASSURE ALL CANADIANS THAT THEY
FIND THEMSELVES IN DIFFICULTY
BECAUSE OF COVID-19, WHETHER
THEY HAVE A RELATIONSHIP WITH AN
EMPLOYER OR WHETHER THEY ARE
SELF-EMPLOYED OR WHETHER THEY
WORK AS FREELANCERS OR WHETHER
THEY ARE UBER DRIVERS, THAT THEY
WILL HAVE ACCESS TO MONEY THANKS
TO OUR APPROACH AND OUR
BENEFITS.
THAT IS VERY IMPORTANT.
OTHERWISE, IN TWO WEEKS, WE WILL
FIND OURSELVES IN A SITUATION IN
WHICH PEOPLE DON'T HAVE ENOUGH
MONEY FOR FOOD AND MEDICINES AND
SO FORTH.
SO I THINK THAT WE FOUND A GOOD
APPROACH, BUT NOW WE'RE GOING TO
OPEN UP ANOTHER -- ANOTHER
APPROACH FOR OTHER COMPANIES.
BUT IN THE END THE IMPORTANT
THING FOR ME WAS TO HAVE AN
APPROACH THAT PROTECTS PEOPLE,
THAT PROTECTS BUSINESSES, AND
WITH THE EMERGENCY BENEFIT AND
THE LOANS NOW AVAILABLE FOR
SMALL AND MEDIUM-SIZED
BUSINESSES, THAT WE ARE THERE.
>> (Voice of Translator):
THANK YOU.
THIS ENDS THE PRESS CONFERENCE.
>> Rosemary: OKAY, THAT IS OUR
THIRD FEDERAL PRESS CONFERENCE
TODAY, BRINGING US UP-TO-DATE ON
THE ECONOMIC MEASURE THIS IS
TIME THAT THE GOVERNMENT IS
TAKING TO HELP CANADIANS DEAL
WITH THE PANDEMIC.
BOTH THE GOVERNMENT AND THE BANK
OF CANADA AND THE FINANCE
MINISTER THERE BILL MORNEAU ARE
ANSWERING QUESTIONS.
LET'S BRING IN DAVID COCHRANE TO
GO THROUGH THE SIGNIFICANT
ANNOUNCEMENT FOR PEOPLE TODAY
THAT THEY NEED TO SORT OF START
WRAPPING THEIR HEADS AROUND, THE
INFORMATION THAT THEY'LL NEED
AROUND THE SMALL AND
MEDIUM-SIZED BUSINESS WAGE
SUBSIDY.
DAVID, WALK US THROUGH THAT IN
PLAIN LANGUAGE SO THAT EVERYBODY
CAN UNDERSTAND BECAUSE THIS WAS
A LOT THERE.
>> Reporter: WHO IS READY FOR
SOME MATH?
OKAY, SO HERE'S THE NEW STUFF
ANNOUNCED TODAY.
I'LL START WITH THE WAGE SUBSIDY
FOR SMALL AND MEDIUM-SIZED
BUSINESSES.
AND THE MEASURE TO DEAL WITH THE
STRUGGLES OF THE SMALL COMPANIES
HAVING IS A 10% WAGE SUBSIDY TO
10 MONTHS AND THAT'S NOW JACKED
UP TO 75% FOR THREE MONTHS.
AND LIKE ANYTHING RIGHT NOW THAT
LENGTH OF TIME IS PROBABLY
NEGOTIATABLE, DEPENDING HOW LONG
THIS GOES.
THIS WILL APPLY TO SMALL AND
MEDIUM-SIZED BUSINESSES AND
APPLY TO NON-PROFITS.
IF YOU NEED MORE SPECIFIC
INFORMATION THAN THAT, YOU HAVE
TO WAIT AND STAY TUNED, THAT
WILL COME ON MONDAY.
MY SENSE, ROSIE IS THAT WE'RE
GOING TO ANNOUNCE THE BIG NUMBER
AND THE BIG BROAD INTENTION AND
FIELD QUESTIONS ABOUT WHAT ABOUT
ME AND USE THAT TO TWEAK THE
CRITERIA TO MAKE IT APPLY AS
BROADLY AS POSSIBLE.
IF THE WAGE SUBSIDY ISN'T ENOUGH
FOR YOU AS A SMALL BUSINESS, YOU
CAN NOW QUALIFY FOR A $40,000
LOAN THAT WOULD BE INTEREST-FREE
FOR THE NEXT YEAR, AND IF YOU
PAY IT ALL BACK BEFORE DECEMBER
OF 2022, YOU GET TO KEEP
$10,000.
SO 25% OFF IF YOU PAY IT BACK
OVER A SET PERIOD OF TIME.
THIS WILL BE RUN THROUGH YOUR
REGULAR FINANCIAL INSTITUTION
AND THE LOAN WILL BE COMPLETELY
GUARANTEED BY THE GOVERNMENT OF
CANADA.
SO THAT THE CANADIAN GOVERNMENT
IS USING ITS CREDIT RATING AND
ITS CREDIT LINE TO EXTEND
INDIVIDUAL LOANS TO SMALL
BUSINESSES TO GET EXTRA CASH TO
OPERATE AND TO MANAGE INVENTORY
AND SUPPLIES AND PAY RENTS AND
BILLS ON TOP OF PAYING
EMPLOYEES.
THERE'S A SEPARATE SERIES OF
CREDIT PROGRAMMES FOR THE EXPORT
DEVELOPMENT CANADA AND BUSINESS
DEVELOPMENT CANADA THAT CAN GIVE
LOANS TO I GATHER LARGER
COMPANIES.
ONES THAT MAYBE DON'T HAVE A FEW
EMPLOYEES AND MAY HAVE A FEW
HUNDRED EMPLOYEES, AND THEY NEED
CREDIT THAT GOES BEYOND $40,000
AND YOU CAN GET LOANS UP TO
$6.5 MILLION THAT WILL BE
BACK-STOPPED BY THESE AGENCIES,
FEDERAL AGENCIES.
AND, AGAIN, THE GOVERNMENT OF
CANADA'S CREDIT.
SO A BROADENING OF THE CREDIT
AVAILABLE FOR THE SMALL AND THE
MEDIUM-SIZED COMPANIES.
ALSO IF YOUR COMPANY THAT OWES
G.S.T. AND H.S.T. OR HAS IMPORT
AND EXPORT DUTIES THAT YOU OWE
THE GOVERNMENT, THEY ARE
DEFERRING THIS TO THE END OF
JUNE.
SO PAYMENTS THAT WERE DUE IN
MARCH, APRIL OR MAY, THOSE ARE
NOW BEING PUNTED DOWN THE ROAD
OF THE SO THAT YOU CAN HOLD ON
TO THAT MONEY AND KEEP THAT CASH
AND MAYBE USE IT TO PAY THE RENT
BILL UNTIL THINGS GET BACK TO
NORMAL OR WHATEVER YOU NEED TO
DO AND START PAYING THAT BACK TO
THE GOVERNMENT AT THE END OF
JUNE.
THE TOTAL VALUE OF THE MEASURES
OUTLINED TODAY, ROSIE, ARE ABOUT
$95 BILLION.
THIS IS ON TOP OF WHAT WAS
ANNOUNCED AND PASSED IN
PARLIAMENT THIS WEEK --
>> Rosemary: THIS WEEK, YES.
>> Reporter: SO ANNOUNCED LAST
WEEK AND PASSED THIS WEEK AND
YOU'RE NOW NORTH OF $200 BILLION
IN DIRECT PAYMENTS AND EXTENSION
OF CREDIT AND DEFERRAL OF TAXES
AS THE ECONOMIC RESPONSE FROM
THE FEDERAL GOVERNMENT TO THE
ECONOMIC CHALLENGES POSED BY
COVID-19.
THAT IS NOT AN INSIGNIFICANT
DOLLAR AMOUNT AND IT IS NOT EVEN
CLOSE TO BEING THE END.
YOU NOW HAVE WAGE SUBSIDIES, YOU
HAVE INCOME SUPPORT FOR PEOPLE
WHO DO LOSE THEIR JOB OR LOSE
THEIR INCOME, AND YOU HAVE
CREDIT EXPANSION THAT IS
AVAILABLE.
WHAT IS STILL TO COME, IN
ADDITION TO ANY INCREASES OR
EXPANSION OF THOSE MEASURES, ARE
SPECIFIC TAILOR MADE BAILOUT OR
ASSISTANCE PACKAGES FOR THE
ACUTELY AFFECTED SECTORS SUCH AS
AIRLINES AND TOURISM AND THE
ENERGY SECTOR.
WHICH IS SUFFERING A DOUBLE
WHAMMY OF A PRICE WAR BETWEEN
SAUDI ARABIA AND RUSSIA THAT IS
HAPPENING RIGHT NOW AND
HAMMERING THE OIL-PRODUCING
PROVINCES, EVEN BEFORE THE
PANDEMIC FLATTENED THE ENTIRE
ECONOMY.
SO WHAT YOU HAVE THERE IS THE
SECOND WAVE OF DIRECT FINANCIAL
AID.
ON TOP OF THAT, ROSIE, IT'S
STEPHEN POLOZ.
THIS IS JUST WHAT BILL MORNEAU
IS DOING.
STEPHEN POLOZ CUT THE RATES
AGAIN, ANOTHER HALF A PERCENTAGE
POINT.
THIS IS WHERE THE WORLD IS
GOING, DOWN TO .25% OF THE MAIN
LENDING RATE AND SAYING THAT'S
ABOUT AS LOW AS WE'RE GOING TO
GO.
AND OFFERING NEWS ON OTHER
DETAILS THAT THEY'RE GOING TO
USE QUANTITATIVE EASING TO
INJECT MONEY INTO THE ECONOMY TO
BUY $5 BILLION OF CANADA BONDS A
WEEK -- NOT JUST UNTIL THIS IS
OVER -- BUT UNTIL THE RECOVERY
IS TAKING HOLD AND THINGS GET
BACK TO NORMAL.
SO THAT'S A LOT OF MONEY GOING
INTO THE FINANCIAL SYSTEM TO
KEEP IT AFLOAT AND ON TOP OF
THAT THEY'RE BUYING PROVINCIAL
BONDS.
WHILE THE FEDERAL GOVERNMENT HAS
AN EXCELLENT SHEET TO SURVIVE
THIS, THEY HAVE MORE FUNDAMENTAL
CHALLENGES NOW, ESPECIALLY
OIL-PRODUCING ONES AND THEY
WEREN'T ABLE TO GET BUYERS TO
BUY THEIR DEBT AND CREDIT AND
THEIR BONDS, SO THE BANK OF DAN
IS GOING TO BUY 40% OF THE
SHORT-TERM BONDS TO MAKE SURE
THEY HAVE THE PAYMENTS NEED TO
MAKE PAYROLL WHILE THIS IS GOING
ON.
>> Rosemary: THE GOVERNOR OF
THE BANK OF CANADA SAID THEY'RE
THROWING EVERYTHING AT IT AND IN
HIS EVALUATION HE THINKS THAT
IT'S ENOUGH WHICH I THINK THAT
IS NOTEWORTHY.
AND THEN JUST BECAUSE WE HAVE
BEEN GETTING A LOT OF QUESTIONS
ABOUT IT, THE ISSUE OF CREDIT
CARDS AND THE CREDIT CARD
INTEREST RATES WHICH REMAIN VERY
HIGH.
AND I UNDERSTAND THAT PEOPLE
ARE, YOU KNOW, MAYBE USING
CREDIT CARDS NOW TO MAKE ENDS
MEET.
THE FINANCE MINISTER IS SAYING
THAT HE CONTINUES TO NEGOTIATE
WITH THE BANKS OVER THE PAST
WEEK SO HE DOESN'T HAVE ANYTHING
SPECIFIC ON THAT POINT TODAY.
>> Reporter: WE GOT A
STATEMENT FROM THE BANKERS'
ASSOCIATION SAYING THEY'D BE
THERE TO HELP CANADIANS AND THE
SAME ASSURANCES FROM BILL
MORNEAU AND HE AND STEPHEN POLOZ
AND THE SUPERINTENDENT OF
FINANCIAL INSTITUTIONS HAD THEIR
NEWS CONFERENCE TWO FRIDAYS AGO
SAYING THAT THE BANKS WOULD BE
HELPFUL AND COOPERATIVE.
THERE'S A LOT OF ANECDOTAL
STORIES AND SAYING THAT MY BANK
ISN'T BEING SO HELPFUL OR
COOPERATIVE.
THE FEDERAL GOVERNMENT TO THIS
POINT IS ASKING THE BANKS TO
HELP.
IF THE CRITICAL AMOUNT OF THESE
PROBLEMS STARTS STACKING UP TOO
HIGH THAT THE FEDERAL GOVERNMENT
STARTS TELLING THE BANKS WHAT
THEY HAVE TO DO.
BECAUSE YOU CAN'T HAVE EVERY
INSTRUMENT OF MONETARY POLICY
FROM THE BANK OF CANADA AND
EVERY FISCAL INSTRUMENT FROM
SPENDING CAPACITY FROM THE
GOVERNMENT OF CANADA GOING IN
ONE DIRECTION.
MANY MEASURES ARE DESIGNED TO
KEEP THE BANKS WITH CASH AND TO
KEEP THEM RUNNING AND NOT TO
HAVE THE BANKS NECESSARILY
LIVING UP TO THE SPIRIT AND THE
INTENT OF WHAT CANADIAN
EXPECTATIONS NEAR THIS
UNPRECEDENTED TIME.
>> Rosemary: THE GOODWILL I
THINK WILL EVAPORATE FAIRLY FOR
BANKS IF THAT DOESN'T CHANGE
QUICKLY.
DAVID COCHRANE, THANK YOU FOR
YOUR COVERAGE THROUGHOUT THIS
SPECIAL AND SEE YOU ON "THE
NATIONAL" TONIGHT.
AND MY THANKS TO VASSY KAPELOS
ON "POWER & POLITICS" TONIGHT AT
5:00 p.m. EASTERN.
AND TODAY THERE'S 10 MORE DEATHS
OVERNIGHT IN QUEÉBEC.
THE QUEÉBEC PREMIER SAYING THAT
HE KNOWS THAT IT'S HARD, HARD TO
DIGEST THAT, AND THE NUMBERS ARE
HAPPENING IN QUÉBEC BECAUSE
THEIR SPRING BREAK, THEIR
TRAVEL, HAPPENED ABOUT TWO WEEKS
BEFORE ELSEWHERE IN THE COUNTRY.
SO I'LL LEAVE WITH YOU THAT
THOUGHT.
AND ONE MORE -- THAT THE B.C.
HEALTH OFFICER, DR. BONNIE
HENRY, WILL BRING YOU THAT
INFORMATION LATER.
BUT SHE SAYS THAT THERE'S SOME
HOPEFUL SIGNS IN BRITISH
COLUMBIA.
WE'LL LEAVE YOU ON A POSITIVE
NOTE AS WE BRING YOU TO NOVA
SCOTIA WHERE THE OFFICIALS ARE
PROVIDING AN UPDATE ON COVID-199
CASES.
MY COLLEAGUE, THERE ARE 17 NEW
CASES IN THAT PROVINCE AND I
WILL SIGN OFF FROM HERE AND
ROSEMARY BARTON HERE.
AND JENNIFER HALL WILL PICK UP
THE COVERAGE HERE ON CBC NEWS
NETWORK.
WE'LL SEE YOU TOMORROW.
>> THAT IS INAPPROPRIATE.
THESE PEOPLE NEED YOUR SUPPORT
AND THEY NEED YOUR LOVE AND
CARING.
SO I'M IMPLORING EVERYBODY THAT
WE ALL NEED TO BE AT OUR BEST
HERE.
WE NEED TO BE KIND, WE NEED TO
BE CONSIDERATE AND BE THERE AND
BE A FRIEND.
WE'RE THREE WEEKS INTO THIS AND
I KNOW THAT PEOPLE ARE GETTING
TIRED.
I CERTAINLY AM
