Skip to main content

COVID-19 and the Economy


Bill C-4

  • Part one of this bill enacts the Canada Recovery Benefits Act, which allows for the authorization of payments for the Canada recovery benefit, sickness benefit, and caregiving benefit, in order to support the recovery of the economy.
  • Part two amends the

Bill C-15

  • This bill allows Canadian students who are out of work or lost income opportunities during the COVID-19 pandemic to receive authorized payments.

COVID-19 and the Early Economic Impacts

  • This document illustrates how the Canadian gross domestic product (GDP) has been affected during times of financial crisis, from as early as 1900, to projections in 2020.
  • The projection of Canadian GDP growth from 2019-2020 due to the COVID-19 pandemic was calculated by using forecasts from the major banks like the Royal Bank of Canada, the Toronto-Dominion Bank, Scotiabank, and the Office of the Parliamentary Budget Officer.

Canada Enterprise Emergency Funding Corporation

  • The Canada Enterprise Emergency Funding Corporation (CEEFC) was developed to administer the Large Employer Emergency Financing Facility (LEEFF) as part of the federal government's COVID-19 Economic Response Plan.
  • This page discusses the LEEFF program, which will give financial assistance to large Canadian corporations who need aid due to challenges posed by COVID-19 and who benefit the Canadian economy, have large operations in Canada and support a large workforce.

Bill C-14

  • This bill was developed to implement measures such as the Canadian Emergency Wage Subsidy by amending the Income Tax Act and to amend the Financial Administration Act in order for provisions enacted by Bill C-13 (the COVID-19 Emergency Response Act) to cease in effect.

Bill C-13

  • This 18-part bill enacts income tax measures that help the Canada Child Benefit and smaller employers, the Canada Emergency Response Benefit Act (CERB) to support workers as a result of loss of work due to COVID-19 and the Public Health Events of National Concern Payments Act.
  • Additionally, the bill amends the Canada Deposit Insurance Corporation Act, the Canada Mortgage and Housing Corporation Act, the Export Development Act, the Federal-Provincial Fiscal Arrangements Act, Part IV and IV.1 of the Financial Administrat

Bill C-12

  • This Act was the first of many federal legislations enacted to protect Canadians during the COVID-19 pandemic.
  • This Act amends the Financial Administration Act in order to allow a special warrant, which permits payments out of the Consolidated Revenue Fund when Parliament is not sitting, but is still in session.
  • This Act also deals with the repeal of the amendment on June 24, 2020, which states that special warrants can be issued when Parliament is not in session.