TORONTO — Finance Minister Bill Morneau says the federal government will soon announce support for Canadians who have to be quarantined in order to prevent the spread of the new coronavirus.
He also says the government will increase the risk adjustment provision in its upcoming budget to ensure that it’s ready and able to respond to the impact of the virus known as COVID-19.
Morneau says Ottawa will continue to monitor the impact of the virus on businesses and workers and promises that the government has the tools to respond quickly.
The minister says the virus is already having an impact on commodity prices, travel and global supply chains as well as consumer and business sentiment.
Morneau’s announcement comes days after the Bank of Canada cut its key interest rate in hopes of helping the country’s economy cope with the impact of COVID-19.
The outbreak has caused dramatic drops in the stock market and has sickened dozens of Canadians and thousands more globally.
This report by The Canadian Press was first published March 6, 2020.