The Canadian government has announced on Thursday that programs supporting companies and individuals affected by the pandemic will not be renewed on Saturday, when they are slated to expire.
"Our economy is rebounding, and we are winning the fight against COVID," she told reporters, said Finance Minister Chrystia Freeland on Thursday during a press conference.
"Canadians supported that unprecedented spending. ... It was the economically smart thing to do," Freeland went on.
"Today our support needs to be more narrow, more targeted and less expensive. And we need to look forward to the day, now not too far off, when we will be able to bring it to an end."
According to Reuters, "for the next few months, Ottawa will help hotels, restaurants and travel agencies that are still facing public health restrictions. It will also help cover the rent costs of employers who can show they have faced deep, enduring losses."
The Canadian federal government has already spend $289B in various COVID aid programs to date, and the further programs are expected to cost roughly another $8B on the new programs from this time through May 7, 2022.
The CERB program which has been paying out direct cash benefits to many Canadians, has come under fire many times throughout its short history. In one case, it appears that over half a billion dollars went directly to children.
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