Coronavirus Canada updates: Trudeau ‘feeling pressure’ to reopen Canada correctly

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Coronavirus Canada updates: Trudeau ‘feeling pressure’ to reopen Canada correctly
Coronavirus Canada updates: Trudeau ‘feeling pressure’ to reopen Canada correctly

With Quebec schools outside of Montreal resuming on Monday, Prime Minister Justin Trudeau was asked at a press conference about his confidence in reopening plans across Canada.

“I think we’re all feeling pressure from Canadians to get this right,” Trudeau said, adding that being “cautious and gradual and vigilant” is an essential component to any resumption of businesses and services.

“We’ll be there to support provinces in their reopening plans,” the prime minister said.

Trudeau said the COVID-19 situation is different across the country and every jurisdiction needs to make decisions related to reopening and COVID-19 testing that is right for them.

‘Lender of last resort’

The prime minister also provided more details on the Large Employer Emergency Financing Facility (LEEFF) and Business Credit Availability Program (BCAP), saying that the federal government is the “lender of last resort.”

He stressed that these are bridge loans, not bailouts, and the federal government will not be fixing any preexisting insolvencies or restructurings.

Companies must also share their complete financial structure to receive this additional financial aid, and there will be certain environment and climate obligations.

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