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Another program, the Canada Recovery Caregiving Benefit (CRCB) supports Canadians that have been working but have to take a break to care for dependents (a child below 12 years of age or a disabled family member). The benefit only applies if schools and care centres are closed, or the dependent fell sick, or contracted COVID-19. [41]
The Wilson Center claimed that Canada's productivity challenges were exacerbated by various structural factors which included geographic and climate-related challenges due to the country's vast size and harsh climate conditions affecting transportation and infrastructure, widespread provincial regulations creating interprovincial trade barriers ...
The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
Bankruptcy is a legal process that provides relief from overwhelming debt by liquidating assets or creating a repayment plan. Chapter 7 bankruptcy is used for unsecured loans (such as credit card ...
Debt settlement is a process that lets you settle large amounts of debt for less than you owe, and it is offered through for-profit debt settlement companies. Typically, these programs ask you to ...
As part of the student loan forgiveness plan, there is a clause specifying: “If you made voluntary payments during the payment pause — from March 13, 2020, through Dec. 31, 2022 — and your ...
The Financial Crisis and the COVID-19 Pandemic In 2010, Canada's debt-to-GDP ratio was 77%. [27] During the period that included the 2008 financial crisis and the Great Recession , Stephen Harper 's CPC government reported six straight years of budget deficits. [ 28 ]
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