WHAT TO KNOW
Globally there are 2,173,432 cases of COVID-19, up from 2,101,164 yesterday. Canada is now reporting 31,642 cases, up from 29,925 cases of COVID-19 yesterday. As Global News reports, Canada is flattening its curve with all provinces trending in the right direction. Ontario is now reporting 9,525 cases, up from 8,961 cases up yesterday. The province has now tested 136,992 individuals and reports 5,993 tests are currently under investigation. More information here. The City of Toronto
During his daily briefing, Prime Minister Trudeau announced a range of measures aimed to help specific sectors of the economy and regions hard hit by the COVID-19 outbreak. Among the initiatives announced today, the government will:
- The federal government will help small businesses in rural areas access funds through $962 million to regional development agencies
- Provide $270 million to Futurpreneur and the Industrial Research Assistance Program to support innovators and other early stage development firms that don’t qualify for the wage subsidy
- Support workers in the arts, culture, and sports sectors by providing $500 million to Heritage Canada
- The government will spend $1.7 billion to clean up orphan wells in Alberta, B.C. and Saskatchewan
- Support at-risk medium-sized energy companies by expanding credit support
The Prime Minister also said to date, 220,000 loans worth $8.8 billion have been approved and more than 7.5 million payments have been made through Canada Emergency Response Benefit. The government will publish the latest CERB figures on its open data portal three times per week.
The Ontario government is enabling auto insurance companies to provide temporary insurance premium rebates to drivers during the COVID-19 pandemic. The province has amended a regulation under the Insurance Act to help ease the financial pressure on working people and families during this public health crisis. More information here.
Premier Ford announced that the government is also expanding the list of essential workers eligible to receive emergency child care. An emergency order was issued which will offer support to those providing a variety of critical services including people who assist vulnerable communities, emergency response and law enforcement sector staff, more health and safety workers, and certain federal employees. More information here.
Premier Ford also told reporters that Finance Minister Rod Phillips is working on an assistance plan for municipalities, but did not provide further details.
This morning Mayor Tory told CP24 that the city will hold an important meeting over the weekend with City staff to discuss how to reopen businesses and city services. More information here.
This afternoon the Mayor provided an update on the City’s fiscal position. The City projects an operating shortfall of up to $2.76 billion, with a best-case scenario of $1.5 billion based in a three-month lockdown followed by a six-month recovery. The city estimates it has been losing around $65 million per week during the crisis, including a $20 million drop in TTC fares.
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