City Gives Downtown Victoria Business Association A Boost in Pandemic

For those who want to stay right up to date with what’s happening in the City on COVID-19, please join me daily on the City of Victoria’s Facebook page at 2:30pm. And please share this link and information with your friends and neighbours. We’re getting lots of emails with lots of questions and we’ll do our best to answer them and keep you and the media up to date with these live daily updates. I’ll also post the videos here from now on. This video is my address from Wednesday. We’ll be back Thursday at 2:30pm. 

News from the federal government

This morning the Prime Minister announced that the Canada Emergency Response Benefit will become available to Canadians who have exhausted their Employment Insurance (EI) benefits since January 1st, seasonal workers who can’t find work because of COVID-19 and those who earn up to $1,000 a month.

With these changes, Canadians will now be allowed to collect the CERB even if they still have some earnings, as long as their monthly income does not surpass $1,000. The new rules will likely extend CERB eligibility to an estimated 1.1 million Canadians who are still working but saw their hours drastically reduced amid COVID-19.

News from the City

As I shared last week, we’ve deferred property taxes by a month as part of Council’s suite of relief measures. That would have left the Downtown Victoria Business Association without their annual funding which usually comes in July. So Council has decided this year to help the DVBA out by paying them their levy in July anyway. This is so the organization can continue its important work in supporting local businesses through the pandemic.

The DVBA is supporting their 1,500 business members to ensure they have all the information they may need on emerging programs and resources that can support them in the near term. They are also promoting ways the public can support local businesses by way of online orders, and take-out and delivery options for restaurants.

Currently, the DVBA is partnering with the Greater Victoria Coalition to End Homelessness to help coordinate volunteers to distribute food at the temporary shelter at Topaz Park to help protect vulnerable populations

The DVBA Clean Team has also stepped up its efforts in helping keep downtown clean, sanitizing and cleaning all transit stops downtown, staying on top of graffiti, and being extra eyes on the street and looking out for downtown businesses now that there are currently few people downtown.

Today during my daily address, Jeff Bray the Executive Director of the Downtown Victoria Business Association joined me. This is some of what he said and the information he shared:

“Today is National Takeout Day. Check out your local restaurant online and order an extra take-out or delivery meal. You can also support local retailers by purchasing online gift cards now, putting much needed revenue into the pockets of businesses to help keep them going.

“You may even want to consider sending an email to your favourite retailer, to let them know you’ll be there for them. This will greatly help with the morale of downtown businesses that have had to let their staff go due to the pandemic.”

He also shared a range of online resources the community can access to support local businesses:

  • Gift cards for local businesses can be purchased online at Support Local Greater Victoria.
  • YYJLocalsForLocalsis a group of community-minded tech and marketing professionals offering pro-bono assistance to local small businesses, restaurants, and bars. Learn more at com.
  • Donate to Boxes of Hope. Every $10 donated provides a warm, healthy meal to someone in need and supports the local restaurant community by keeping staff employed.

The City’s Business Hub staff have compiled a comprehensive list of resources for businesses at victoria.ca/bizresources.

 

City of Victoria Artist in Residence Kathryn Calder Performs Live Concert – From Her Living Room to Yours

For those who want to stay right up to date with what’s happening in the City on COVID-19, please join me daily on the City of Victoria’s Facebook page at 2:30pm. And please share this link and information with your friends and neighbours. We’re getting lots of emails with lots of questions and we’ll do our best to answer them and keep you and the media up to date with these live daily updates. I’ll also post the videos here from now on. This video is my address from Wednesday. We’ll be back Thursday at 2:30pm.

With music venues closed and public events postponed due to COVID-19, musicians around the world are finding creative ways to perform and share access to live music. The City of Victoria’s Artist in Residence, Kathryn Calder, is no exception.

Kathryn will live stream a concert from her home in Victoria Friday, April 3 at 7:30 p.m. Tune in to Kathryn’s YouTube channel to watch live. The 30-minute solo set will include a selection of Kathryn’s own songs, as well as a couple of her favourites written by others.

Kathryn Calder was selected as the City’s Artist in Residence in 2019. For the past 15 years, Kathryn has been recording and touring as a vocalist and keyboardist with indie rock group The New Pornographers. She has also released three solo records, five albums with Immaculate Machine, and one album with her latest project, Frontperson.

So as you’re practicing social distancing or isolation, take the opportunity to tune into what is sure to be some great music. Thank you, Kathryn, for doing this!

News from the provincial government

Today, the provincial government announced a three-month credit on BC Hydro bills for individual customers, and a three month payment holiday for businesses. Premier Horgan asks that only people who need to apply for this do so.

News from the community

Today I want to tell you about a new initiative called supportlocalyyj launched this week by Think Local First. It’s a way you can support your favourite local businesses by buying gift cards. As we know, so many local businesses are shut because of emergency provincial health orders.

Any local independent business can join the supportlocalyyj initiative, no cost no membership required. And what’s so great about this is that supportlocalyyj takes on the admin and payment for the businesses. Any gift card value is 100% transferred to the business.

Vancity along with Think Local First is administrating and developed the platform including covering all payment processing costs. Shopify donated the webhosting and page. Each week the cash generated by gift card sales is sent right to the local business.

Please share this with businesses who might want to register. And here’s yet another way for those with the means to support our favourite businesses through this hard time while benefiting ourselves from credit at our favourite stores!

An update has come in from the Boxes of Hope program that is supporting local restaurants and feeding those in need at the same time. I’d like to give a shout out to Aryze, who donated 1000 meals and challenged others in their industry to do the same on Twitter – GMC Projects and Kang and Gill Construction are joining them in donating. Thanks to all, and keep it up!

What Eveliina shared with us on the Facebook live feed

Yesterday Eveliina wrote in about something she’s doing to spread joy in her neighbourhood. She says:

“I live along Fort St and have been periodically starting up my bubble machine during the day, as well as for the 7pm salute, to bring joy to neighbours and those who may be out walking. When the wind is with me they drift right down the street and out of view!”

Thanks Eveliina, that’s such a fun way to create joy with neighbours.

 

 

Now Is Not the Time To Party – Police Called to Nine Gatherings Over Weekend – Stay at Home!

For those who want to stay right up to date with what’s happening in the City on COVID-19, please join me daily on the City of Victoria’s Facebook page at 2:30pm. And please share this link and information with your friends and neighbours. We’re getting lots of emails with lots of questions and we’ll do our best to keep you and the media up to date with these live daily updates. I’ll also put the videos up here from now on. This video is my address from Monday. We’ll be back Tuesday at 2:30pm.

Chief Constable Del Manak is urging members of our Victoria and Esquimalt communities to continue to follow social and physical distancing orders from Provincial Health Officer Dr. Bonnie Henry after officers were called to multiple gatherings over the weekend.

Officers were called to nine noise complaints, including several parties and other gatherings, as well as to a group at Saxe Point Park over the weekend. Officers spoke with some attendees about the risks that violating Dr. Henry’s orders present to those gathering, to their loved ones and to the wider community. These gatherings also present additional, unnecessary risk of COVID-19 exposure to front-line officers responding to these calls.

“We need to do better,” Chief Del Manak said. “The first line of defense against COVID-19 is social and physical distancing. Please, think of the greater good. Think of our officers who are attending these calls. Think of the grocery clerks, the cleaners, the nurses, the doctors, the care workers and all the other front-line and essential service workers who cannot stay home, but who are putting themselves at risk for others. Please, stay home.”

News from the federal and provincial governments

This morning the Prime Minister announced more information regarding the wage subsidy for business and non-profits. Some important details: All businesses are eligible if business revenue has decreased by at least 30% due to COVID19; no business is too small to be eligible; the federal government will provide 75% of salary on the first $58,700 an employee earns; the program is retroactive to March 15.

On Friday, the provincial government announced new funding for arts and culture. They have developed a $3-million Arts and Culture Resilience Supplement which will be administered by the BC Arts Council. Those eligible will receive a supplement of up to $15,000 in early April to help them pay their bills.

And starting in April 2020, the BC Arts Council will provide eligible organizations a 50% advance on 2020-21 funding to help with cash flow. They are also extending application deadlines, relaxing reporting requirements and allowing organizations to use funding to cover immediate needs like rent and utilities.

This is so important to Victoria because our arts and culture events are a key part of what makes Victoria so amazing, vibrant and alive. AND they’re a key economic driver.

Small business, non-profits, and arts and culture are all areas that Council has been advocating for relief for, and I’d like to thank the federal and provincial governments for providing assistance to these important sectors in this challenging time.

News from the City

I’d like to address some of the questions that came in on Friday’s Facebook live about Topaz Park so first I’ll refresh you on what Island Health, BC Housing, the City, the Greater Victoria Coalition to End Homelessness and the Dandelion Society are working on together.

The Phase One shelter and service provision sites that are being put into place at Topaz and Royal Athletic Parks are temporary stopgap measures. These are needed to ensure social distancing is possible. The current situation on Pandora St. does not facilitate people following Dr Bonnie Henry’s orders.

The temporary park sites were chosen due to proximity to washrooms, appropriate space for social distancing, and because some, in the case of Topaz Park, people were already sheltering there. Phase Two, which will be underway as soon as possible, will move people to indoor shelters. And it’s already started. Over the weekend, 27 of the first 35 motel rooms were filled with people who were sleeping outdoors. Forty more motel rooms have been identified and social service providers will be out in the community identifying people who would be suitable to move in

It’s important to note that the Province is securing motel rooms across the island and around the Province. And I know that all mayors on the island are working hard with BC Housing and Island Health to provide the supports that people need in their own communities.

News from the community

I’ve been encouraging everyone to participate in the 7pm cheering for health care workers. And it’s working – last night the whole string of backyards along our street were out there banging pots and pans, and waving to each other as well. It feels like a good way to stay connected!

And today I learned of another way we can thank our local health care workers, and that’s the Hospital Heroes of Victoria campaign from the Victoria Hospitals Foundation. You can send a personal message to our frontline workers, our hospital heroes right here. This is a simple, heartfelt way you can boost the spirits of healthcare workers.

Feedback from the community

A resident got in touch after Friday’s address asking me to please remind everyone to help those who are vision impaired in our community; they can’t see appropriate social distances, so please be observant and move away. She wrote:

 “I’m just talking with a friend who is vision impaired with an assist dog. They are conscientious. They are adhering to the CoVid 19 safety guidelines. Today while walking the Dallas Road walkway, they did their best to HEAR where people were and to keep away from them. Yet, some people did not keep their distance from them and seemed unconcerned and indifferent. When they reminded them of the two metre distance, they didn’t care. In some cases, people were hostile when reminded.

“We think it is important for everyone to obey the physical distance rule. And, if everyone did so, then my friend could go for a CoVid safe walk which is important for their mental and physical health.”

We’re all learning lots about each other’s needs and points of view in this health emergency. Let’s keep each other’s needs in mind.

Please, let’s look after each other. And please continue to write to me in the comments or to mayor@victoria.ca to tell me what you’re seeing in our community. I’d love to share more of your stories about what you are doing to keep social connection while physically distancing.

Today Dr. Bonnie Henry told us that the next two weeks are our watershed moment. The things we are already doing are making a difference. But we are not through the storm yet, we have not reached our peak in cases.

She thanked people for taking the measures she recommends seriously – and I want to do the same – the health of our city and our community depends on it. Keep up those social distancing measure. Don’t gather in small groups inside. Keep your distances. Don’t play basketball, you could take something home and infect your parents or grandparents. Stay at home. And stay connected with your community and with the people you love! The next two weeks are make or break. Together, we’ve got this!

 

Boxes of Hope – Keep Restaurant Staff Employed and Feed Someone Who’s Hungry

For those who want to stay right up to date with what’s happening in the City on COVID-19, please join me daily on the City of Victoria’s Facebook page at 2:30pm. And please share this link and information with your friends and neighbours. We’re getting lots of emails with lots of questions and we’ll do our best to keep you and the media up to date with these live daily updates. I’ll also put the videos up here from now on. This video is my address from Friday. We’ll be back Monday at 2:30pm.

This morning, for the first time in a long time, 21 people woke up inside, in hotel rooms rented through Emergency Management BC. And when they did, there was a warm meal waiting for them from the Boxes of Hope Program.

I love this program and the innovative partnerships through which it was created. In the face of unprecedented challenges to their own businesses, several local Victoria restaurants, the Jawl Family Foundation, the Coalition to End Homelessness and the Downtown Victoria Business Association are pulling together to help others in need and to keep local restaurant kitchens open. And we need your help.

For every $10 you donate here you will be providing a warm healthy meal to someone in need, AND supporting our local restaurant community and helping to keep restaurant staff employed. We know there are many people in our community hit hard right now and who don’t have any funds to spare. We also know there are others who do. For those who can, please help us nourish Victorians one meal at a time.

Federal government news

On Friday the Prime Minister announced a new $40,000 loan for small business, interest free for one year, and up to $10,000 will be forgivable in some cases. In order to qualify, a business’s payroll must be between $50,000 and $1 million in 2019. This will help all businesses in Victoria, even really small ones – we’re so grateful to see this wide net cast. A lot of our businesses in Victoria are very small business. This loan also applies to non-profits of the same size.

Trudeau also announced a subsidy to cover 75% of wages for qualifying small and media businesses – this is up from the previously announced 10%. It’s great to see that the federal government is responsive to changing needs and to the advocacy of our very own Greater Victoria Chamber of Commerce, Downtown Victoria Business Association and Destination Greater Victoria.

GST and HST payments as well as duties for small and medium sized businesses have been deferred to June. The federal government will announce more details of new small business plan on Monday.

Provincial government news

On Thursday the provincial government announced expanded BC 211 services. If you are a senior, you can call 211 to be matched with a service or with a volunteer who can help you get groceries, medications, and stay connected. If there is a senior in your life that could benefit from this service, please pass on this new 211 information line. If you want to volunteer to help with these efforts you can call 211 or visit the BC 211 website.

On Friday Dr. Bonnie Henry told us if we keep following her orders, keep up the social distancing measures, stay at home, wash our hands, we’ll flatten the curve. She is cautiously optimistic. Victorians, let’s make her proud! Keep going! What we’re doing is working. I know it’s hard, but we’re flattening curve.

News from the City

Effective immediately, all Development and Building Permit Applications for the City of Victoria can now be accepted online. I am so impressed by our planning staff department for making this transition so quickly. This includes rezonings, development permit, heritage alteration permit, temporary use permit, and variance applications as well as building, plumbing, electrical and sign permit applications. More information here. This online processing of application will not only help building in the city continue, it will also help tradespeople to keep their jobs.

Feedback from you!

I received an e-mail from a community member who has been watching my daily updates. She wrote in response to the 7pm challenge to get out there and cheer for our front-line workers every night. She says:

“Thank you for the challenge at 7 PM every night to make a ruckus in tribute of our Frontline workers. I live on Foul Bay Road. Tonight is the second night I went out and both nights I have heard at least one other home joining me in making noise. (All The passerby’s think I am a nut case). I have faith in all of us – our greater community in the days to come.

If I was not on long term disability, I would be also one of those front-line workers so I am going outside of my door every night at seven in tribute to my colleagues. I would give anything to be able to be working right now.”

Thanks for writing in and sharing your story!

Please do get outside at 7pm and keep cheering on all our front line workers. Please share your stories with us on the Facebook video where our daily video is posted. And please look after each other, and stay connected over the weekend.

 

City Secures 35 Motel Rooms for Homeless in Pandemic – Small Start, Long Way to Go

So sorry to everyone who was tuned in at 3:30 today; Facebook broke and we couldn’t get the livestream connected. Bonus is the video is now on Facebook AND Youtube so I’ve linked it here for easy viewing. Tomorrow and beyond we’ll be doing the daily Facebook Live at 2:30pm here on the City’s Facebook page. We’ve moved the daily address to 2:30 to make it easier for TV media to tune in and then get their stories ready for the 5:00pm news. We rely on the media to help get the information and the stories out, and we thank them for doing so!

News from the province

Under the Emergency Program Act, Minister Farnworth today issued a series of ministerial orders to ensure a co-ordinated response to COVID-19 across all levels of government for the duration of the provincial emergency. These include:

    • Establishing a new Provincial Supply Chain Coordination Unit to co-ordinate goods and services distribution.
    • Banning the secondary resale of food, medical supplies, personal protective equipment, cleaning and other essential supplies; and restricting quantities of items purchased at point of sale.
    • Enabling municipal bylaw officers to support enforcement of the provincial health officer’s orders for business closures and gatherings
    • Ensuring all passenger and car-ferry services provide minimum service levels and priority access for residents, and essential goods and workers.
    • Making it easier to support critical services for vulnerable people, like food banks and shelters – the province can requisition any public facilities for these needs.
    • Suspending local states of emergency specific to the COVID-19 pandemic, giving municipal councils the ability to hold more flexible meetings to expedite decisions; and co-ordinating potential use of local publicly owned facilities, like community centres, for self-isolation, testing, medical care, warehousing and distribution.
    • Issuing a new order with respect to people who use substances and the provision of a safe supply to protect their health. Minister Dix called this a necessary public health practice given the two public health emergencies we are facing, the opioid crisis and the COVID pandemic.

What this means for the City is that our debate on declaring a local state of emergency was suspended, and we continue to work with the province on other aspects of emergency response.

News from the City

Today Council passed a motion to strongly advocate to the Province on behalf of small businesses and non-profits which have been affected by the pandemic in Victoria. We’re asking for rent relief and halting evictions during the state of emergency. April 1st is coming as quickly for small businesses with leases as it is for residential tenants. Council appreciates the actions the Province took to provide rent relief to tenants, which also puts money into the hands of landlords. We hope to see swift action from the Province to support small businesses in BC. In Victoria, these businesses are the lifeblood of our community.

Continuing to advance work on sheltering, the City has secured 35 motel rooms for people who are currently homeless. The rooms will be funded through Emergency Management BC (EMBC). Thanks to our hard working Emergency Operations Centre staff who secured these rooms. We’re working with the Coalition to End Homelessness and the Coordinated Assessment and Access process to get people inside as soon as possible. This is just the tip of the iceberg and there is much more to do. BC Housing is working hard to secure further rooms and indoor sheltering locations.

The people going to the motel rooms booked by the City through EMBC are healthy and not exhibiting symptoms they are just experiencing homelessness right now. This is part of the overall coordinated response to provincial direction for social distancing for everyone.

Yesterday we talked about some of the interim shelter options in parks that Island Health, BC Housing, the City, and service providers are working on. We’re guided in this effort by  Island Health Chief Medical Officer Dr Richard Stanwick, who has been closely involved in this process.

“In these extraordinary times extraordinary measures will be required to slow the transmission of Covid-19, said Dr. Stanwick. “These efforts will help enable our health care system to prepare for and to respond to the surge of cases expected with this pandemic. Some measures will be for the duration of the pandemic while others will be for staging prior to another measure. The use of our parks to improve physical distancing is one of these measures. Island Health is working with the Mayor, BC Housing and other community partners to identify additional approaches and methods to improve social distancing.”

This is a fast developing situation, and urgent response is needed. Things are changing daily, and we are working from the direct advice of health care professionals. In order to maximize efficiency and to get sites open as soon as possible we are now focusing on establishing two temporary outdoor sites – Topaz Park and Royal Athletic Park, not Beacon Hill Park at this time.

Indoor shelter options are coming soon. I’ve been asked over the last couple of days about self-isolation beds for people without homes. I’m pleased to say that Island Health has identified beds for members of the street community who may present as symptomatic.

Community feedback

After my daily Facebook live yesterday, we received an e-mail from a wheelchair user regarding the additional health risk at this time for wheelchair users caused by people spitting on the ground. Please don’t spit on the ground! It’s more important than ever to keep hands and wheels clean. Also, please do be aware that everyone is trying to practice social distancing. Wheelchair users cannot step off a sidewalk to provide distance. Please do be aware of others around you. Let’s try to keep everyone in our community well and safe.

 

Province Unveils COVID-19 Action Plan, City and Partners Take Steps Together to Address Health Needs of Unsheltered

Horgan-James
BC Government Photo

For those who want to stay right up to date with what’s happening in the City on COVID-19, please join me daily on the City of Victoria’s Facebook page at 3:30pm. And please share this link and information with your friends and neighbours. We’re getting lots of emails with lots of questions and we’ll do our best to keep you and the media up to date with these live daily updates. Here’s some of what I shared today. And more detailed information below from the Provincial Government’s important press conference.

We’re really encouraged to see the additional supports coming out from the Province this afternoon. Especially those supports for small businesses and people that work for them. And we’re  really happy to hear that more supports will be coming for renters, to be announced by the province on Wednesday. Premier John Horgan said today that no individual will be evicted due to COVID – 19. This is something that Council is very concerned about and I’m happy to see the Province take leadership. We hope the Province will do everything in their power to support renters – which comprise well over half of Victoria’s population.

We’re also happy to see the Province providing $500 million in tax deferrals. And creating a $1.5 billion recovery fund. At the beginning of an economic crisis is a good time to begin to prepare for recovery. I appreciate the Province’s foresight in this regard.

As for what the City is doing,  the City’s emergency planning protocol has kicked in, and our Emergency Operations Centre is up and running. This allows us to work closely with Emergency Operations BC, and respond to emerging needs. It also means the City can be reimbursed by the Province for expenses incurred to respond to the emergency.

We have closed all parks facilities, playgrounds in addition to skate and bike parks, basketball & tennis courts, sports fields, outdoor gyms.

The City has convened Island Health, BC Housing, the Greater Victoria Coalition to End Homelessness, the Dandelion Society and other local service agencies to identify and implement measures to help protect people who are experiencing or at risk of homelessness. These organizations will have additional supports for vulnerable populations including more places for people to shelter and self-isolate.

These measures include allowing temporary shelters at Beacon Hill Park and Topaz Park, where residents can access up to date health information, meals, washrooms and handwashing stations. BC Housing is working with Island Health to use the Royal Athletic Park as an outdoor shelter for the city’s most vulnerable residents. This location allows for social distancing measures. The Province has the power, under the provincial state of emergency, to use city facilities for emergency measures. In the coming days and weeks we may see more of this, as we work together to look after our residents.

Here is a powerful statement from Jim Swanson, General Manager of the Victoria Harbourcats who are the City’s main tenant at Royal Athletic Park. His response choked me up when I read it today. This is an example of true leadership:

“The Covid-19 pandemic is the most glaring example in history that we all, globally, need to stand together, and act together.

The Victoria HarbourCats fully support the measures so far being put in place by the Province of B.C., led by Dr. Bonnie Henry and Health Minister Adrian Dix. The HarbourCats also support the new development that areas inside Royal Athletic Park will be used by the City of Victoria to create appropriate social distancing for the city’s homeless population, with the 900 block of Pandora becoming a problem area for us all to maintain space and give the best chance of everyone coming out of this healthy.

This is bigger than any of us individually, as people or as companies or government departments. Working with Mayor Helps, and with key City staff, this is the right thing for all to do. We all must do our part to flatten the curve, so this can have the least impact on life and health, and allow us to recover sooner.

Baseball takes a back seat right now, that’s for sure — and let’s focus on the HarbourCats only after we focus on each other. Our season doesn’t arrive until June, we have the luxury of time, let’s deal with now and worry about later, later.

When it’s time to play baseball, we’ll play baseball. When we’re able to gather again, and cross borders, we’ll play. Until then, the people in our organization will be dedicated to being part of the solution.”

In addition to the three temporary outdoor sheltering sites, 938 Mason Street, the old Girl Guides building, which BC Housing recently purchased, will be temporarily used as a triaging and testing site for members of the homeless community. Island Health is still working out all the details.

Moving forward – because we can’t have people living in tents for four to six months in a health emergency –  the City and our partners are exploring indoor options for residents to be assigned a bed in addition to essential services this could include BC Housing providing hotel rooms, and/or using other public facilities to turn into temporary indoor sheltering areas.

We will update you on plans at details as they become available on the City’s Facebook page at 3:30pm every day. Please tune in!

Further Details on Provincial Press Conference

Premier Horgan

  • Action Plan is focused on: Protecting British Columbians, direct immediate economic relief, and planning/funding for long-term recovery.
  • $5 billion dollar plan for British Columbians and businesses. This is a starting point and there will be more support if needed.


Minister James

  • $1.7 billion in investments for critical services – to be allocated in weeks and months ahead as needed (including healthcare, shelters, rental support programs, extra disability assistance, and support for individuals/families and businesses).
    • $1.1. billion specifically for workers and families: Emergency Benefit for workers will provide a 1 time payment of $1000 dollar to anyone who cannot work because of COVID-19. This is a first step – other measures may be needed later. Even those not eligible for EI can claim the payment.
  • An enhanced BC climate action tax payment will occur in July. Need to file taxes to determine eligibility, in order to receive payment.
  • Looking at details for how to support renters – including increased support for seniors and the working poor. Requesting that landlords halt evictions.
    • $50 million in added funding for United Way.
  • As of March 30, all student loan payments will be paused until September 30.
  • BC Hydro will work with customers to defer bill payments or arrange for flexible payments without penalty. ICBC will offer more drivers license renewals online or on the phone and defer payments for 90 days with no penalty.
  • Deferring most Provincial tax filing deadlines (municipal and regional taxes, Provincial tax, carbon tax, and several others) until September 30
  • Delaying increase to carbon tax indefinitely, will review by September 30.
  • Establishing a recovery task force that will include members from business and labour. Have set aside $1.5 billion dollars for longer-term recovery – will be deployed when signs of recovery are apparent.

 

Q&A – Select Questions

  • What supports are there for renters and mortgage-payers? Is there a ban on all evictions in B.C.?
    • Premier Horgan: Nobody will lose their apartment because of COVID-19 (evictions for other reasons could occur). Further details on support for renters will be publicized on Wednesday. Joint Federal-Provincial support for mortgages are in place. We are working on common language for program delivery.
  • Is this package in addition to the Provincial budget and where is the deficit projection at?
    • Minister James: Yes, this spending is in addition to the budget – will be enacted by the legislation being passed today. Deficit will be impacted by COVID-19 spending undoubtedly. Right now we are focused on dealing with immediate impacts, but we will have a broader fiscal update in late summer/early fall.
  • How fast can you get the application process set up for COVID-19 funding and when will the money flow to citizens?
    • Minister James: We will get everything set up by May. The application process will be streamlined and as simple as possible.
  • Should small businesses stay open with bare bones staff or close completely and lay-off people so that they can collect EI?
    • Premier Horgan: It is a tough call. We’ve put in place as many incentives and supports as possible for small businesses, but each business needs to make their own call. I realize that is an imperfect message, and I sympathize with the predicament of these business owners. We will continue to monitor the situation and provide more support as needed.
  • Quebec and Ontario are going to a full shutdown of all non-essential services tomorrow. Are you considering that?
    • Premier Horgan: I’m considering it on some level, of course. But it’s easy to say “lockdown” or “shutdown”, but the lists of exceptions you end up seeing in those situations (i.e. in California) look similar to the limitations that we already have in place in B.C. I don’t want to create confusion by changing our terminology. We are taking a science-based approach to all this and also being mindful of the economy as well.
  • Do you see a need for municipalities or the Federal government to declare states of emergency to increase enforcement of social distancing?
    • Premier Horgan: They can do so if they want, but we have all the powers we need at the Provincial level to enforce social distancing. People need to do the right thing here.
  • How are you considering the impact of COVID-19 on other crises, like opioids abuse and homelessness?
    • Premier Horgan: I would also expand that to peoples mental health. We are putting more resources online.
  • Recession is virtually a given at this point? What are your projections saying?
    • Minister James: Right now we are focused on dealing with immediate impacts, but we will have a broader fiscal update in late summer/early fall – it’s too difficult to project at this point. That is also why we are setting aside funding for long-term recovery.

 

Laid Off and Looking For Work? Chamber Job Board Lists Employers Looking For Workers

Heart Pharmacy, Save on Foods, Island Health, Thrifty Foods, London Drugs – these are just some of the companies hiring right now.

Today the Chamber of Commerce repurposed their Jobs Board to serve the community. The Jobs Board connects employers looking for workers with workers affected by businesses that have closed in response to the shutdown of travel and the need for social distancing as mandated by government in response to the COVID-19 crisis.

After mandated restaurant closures today (now take out and delivery only) we know there will be more people looking for work. Pharmacies, grocery stores, island health and others are hiring right now. At time of this writing there are 37 jobs listed on the Jobs Board and more to come.

“There has been a lot of attention focused on layoffs but we’re also hearing from many employers who are struggling to fill positions in their organizations,” Chamber CEO Catherine Holt said. “The Chamber continues to call on all levels of government to provide immediate relief for businesses affected during this ongoing crisis. We also will do everything we can to continue connecting people to help sustain our economy and ensure all of us can recover quickly as soon as it is possible to do so.”

Workers in the hospitality industry have many transferable skills that are in demand during these extraordinary times. We need healthy people to help keep our grocery stores and pharmacies stocked and supplied, drivers to deliver goods to customers, cleaners to ensure our care homes and hospitals are safe. We are also seeing demand for people to assist accountants and financial institutions as they themselves try to help process a huge increase to their workload.

To access the Job Board as an employer in need of employees or as a worker able to fill a need, head here. At this time, employers are able to post at no charge by using the code SUPPORTYYJ.

Please share this post widely with anyone who needs a job or anyone who has a job to offer.

 

City Council Takes Local Action on COVID-19

If nothing else, please watch this video. There’s a moving moment in it where someone who is homeless comes to talk to me and asks the very same questions the media is asking. We are working as hard as we can and as fast as we can to address her concerns.

Today at City Council we passed a number of important measures to support residents, local business and the non-profit sector facing hardship during the COVID-19 pandemic.

To further protect residents and City staff from the current threat of novel coronavirus (COVID-19), Council also amended the way it will conduct Council meetings until the health emergency is declared over by the Provincial Health Officer.

I want to thank Council members and staff for their proactive leadership for bringing forward these measures today. And I’d like to thank staff in advance for their hard work on implementation.

Some of the measures outlined here have already been implemented by the federal government. I am grateful to both the federal and provincial governments for their financial assistance to residents and businesses and the guidance and advice of both the federal and provincial medical health officers.

In the coming weeks, Council will continue to take actions within our jurisdiction to help alleviate the suffering of our residents and businesses in these uncertain times. I also know that Victorians are working hard and displaying extraordinary generosity to help each other out and to get through these difficult times together.

Business
Council has directed staff to examine all of the City’s fiscal, legislative and legal powers to support small businesses and jobs, the non-profit sector, arts and culture and the tourism sector in order to sustain the local economy during the pandemic and recover stronger and more resilient than before.

Council has also authorized the City’s Real Estate staff to look at potential options to provide relief for businesses located in City-owned properties on a case-by-case basis, and encourages all landlords to work with their tenants to explore options that work for both parties.

Financial Hardship
The COVID-19 pandemic is causing substantial economic hardship for many people, businesses and community organizations in the City of Victoria as a result of reduced economic activity and compliance with directives of public health officials and government entities.

To support the well-being of individuals and safeguard the economic base of the community, Council is initiating the following actions:

  • Direct staff to prepare bylaw amendments to allow for the temporary waiver of financial penalties for non-payment of municipal utilities fees and taxes during provincially declared emergencies.
  • Direct staff to develop an Action Plan, without delay, identifying measures within municipal jurisdiction to reduce economic hardship on individuals and organizations impacted by COVID-19, including consideration of the following measures:
    1. Repurposing under-utilized facilities for emergency shelter and healthcare for the unhoused, to allow for social distancing, proper care, harm reduction, and recovery.
    2. Emergency regulations to restrict evictions of tenants who have suffered a loss of earnings due to quarantine, self-isolation, layoff or declining economic activity.
    3. Temporary deferral of fees, taxes and other payments owing to the City from those suffering hardship.
  • Advocate to the Governments of British Columbia and Canada for immediate action on:
    1. Emergency housing and healthcare for the unhoused through the retrofitting of underutilized facilities to allow for social distancing, proper care, harm reduction and recovery.
    2. Income support through Employment Insurance, statutory Paid Sick Leave provisions and/or other programs to replace earnings that have been lost as a result of COVID-19, with immediate and retroactive effect, including eligibility for precariously employed workers in the service sector and “gig economy”, self-employed workers and small business operators.
    3. A temporary moratorium on evictions, foreclosures and payment of debt and utility fees.
    4. Support for Indigenous communities that are particularly vulnerable to COVID-19 due to substandard health, housing, water and social service systems.
    5. Temporary deferral of payroll deduction remittances (i.e. EI, CPP, Income Tax) and income tax instalment payments where necessary to reduce pressure on business cash reserves and maintain payment to employees and suppliers.
  • Request that the Mayor write, on behalf of Council, to the Premier of British Columbia and the Prime Minister of Canada, requesting immediate action along the lines outlined above, and indicating the City of Victoria’s willingness to cooperate with those orders of government to ensure an integrated and effective response to COVID-19, including reducing economic hardship on individuals and organizations and safeguarding the economic base of the community.
  • Request that staff consider initiating emergency childcare services for essential services workers during the COVID-19 public health emergency, either as a City-operated service or in partnership with external childcare providers.
  • Request that the University of Victoria reconsider the displacement of students currently living in student housing who have no alternate housing options.
  • Council requests that landlords not increase rents at this time of crisis and defer rents for those in need.

Council Meetings and Public Meetings
To protect the public and City staff during the COVID-19 pandemic, City Council has adopted amendments to its Council Procedures Bylaw to adjust the way Council meetings are conducted.

Based on recommendations by public health officials, Council suspended the holding of public hearings in accordance with the Class Order on COVID-19 from the Office of the Provincial Health Officer until further notice. Council also suspended the question period sections of Council meeting agendas for in-person participation.

Requests to address Council will be limited to six delegations through either telephone participation, where possible, and the reading out of submissions and/or broadcasting of recorded submissions, if necessary.

 

Help on the Way for Businesses, Workers, Canadians

file8-1
Prime Minister Trudeau during his most recent visit to Victoria.

NB There is A LOT of detail below on the federal financial aid package for Canadians announced today. I wanted to make sure that people have all the information. Use what you need and feel free to share.

This morning Prime Minister Trudeau announced $82 billion in financial aid for Canadians. When he spoke following Trudeau, Bill Morneau said that as Finance Minister he’s used to worrying about macro economic factors and keeping the economy strong. But today he said, “Right now, I view my only job as being able to make sure that Canadians can keep a roof over their head and food in their fridge.”

I found my self choked up by this statement, listening to the announcements on my walk to City Hall this morning. All the way out here on the west coast I feel the care that the federal government is taking of Canadians, putting everything they’ve got into helping us get through this challenging time.

The financial support for Canadians announced this morning will help Victorians a lot. Importantly – and as City Council is calling for in a motion tomorrow – there is support for people who aren’t eligible for EI. CBC has put together a good piece on how to apply for COVID-19 Emergency Benefits. There are also tax relief measures, deferral of mortgage payments, increased funding for shelters and much more. We expect an aid package soon from the Province which will build on the federal measures and hopefully include support for renters and further relief for small businesses.

Here’s a full synopsis of the federal aid package. There will be more details in the days to come. As Deputy Prime Minister Chrystia Freedland said this morning, sometimes they won’t have all the details worked out when they share these big plans with us, but they want us to know what the plan is and that the details will come as soon as possible.

Key Details from Technical Backgrounder

  • The EI Emergency Care Benefit will be available through CRA beginning in April, and is worth up to $900/two weeks for up to 15 weeks. It will not require a medical attestation, application will be simple. Will have to attest to eligibility every two weeks.
  • The implementation timeline for the special COVID-19 Emergency Support Benefit is still unclear, but the value of the benefit will be the same as EI benefit and it will provide 14 weeks of support.
  • The GST credit increase for low-income earners will flow by early May, and is a one time payment to double the value of the program in fiscal year 2019/20.
  • The wage subsidy for small business employers is effective immediately. The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
  • The Reaching Home initiative will be topped-up with $157.5 million. The funding could be used for a range of needs such as purchasing beds and physical barriers for social distancing and securing accommodation to reduce overcrowding in shelters.
  • $50 million will be allocated to women’s shelters and sexual assault centres to help with their capacity to manage or prevent an outbreak in their facilities.
  • The Federal Tax Filing Deadline: is extended until June 1, for both individuals and businesses, and any money owed will not be due until September 1.
  • Many further details in the backgrounder below – particularly on monetary policy and business supports.

Minister Morneau Press Conference Summary

  • The Federal government has the fiscal space to support the economy and we are going to do so – $27 billion in direct support to Canadians and businesses and deferring $55 billion in Federal taxation, leaving that money in the economy.
  • The monthly minimum withdrawal from registered retirement income accounts will be suspended for six months and “I assure you” that social security payments will continue to flow.
  • We are prepared to provide more supports for small businesses as necessary. We have freed up a lot of lending capacity for small businesses through commercial banks and Export Development Canada and the Business Development Bank.
  • Emergency legislation will be tabled to enact these measures.
  • When the time is right, we will announce measures to help the economy bounce back in the long-term from the effects of COVID-19.

Minister Morneau Q&A (Relevant Questions)

  • Do you plan to provide support for self-employed people that wish to stay home to respect social distancing, but don’t have COVID-19?
    • Minister Morneau: Those people would be eligible for the special COVID-19 benefit. Details to come.
  • Some analysts talking about unemployment reaching 20%. Comment?
    • Minister Morneau: It’s difficult to forecast as the situation changes continually. We intend to provide broad support, and if people are facing challenges we will help them and their family.
  • What is the purpose of the Indigenous Community Support Program and how will it be broken down between communities?
    • Minister Morneau: More details to come.
  • Any specific measures for seniors – i.e. changes to OAS? Did you consider direct cheques to all Canadians? Allowing people to delay mortgage payments, but what about renters?
    • Minister Morneau: The measures we have taken will help all Canadians, while targeting those that are most vulnerable or lose their jobs due to COVID-19. We wanted to deal with vulnerable populations first – i.e. people who are not eligible for EI. We will continue to think about other ways to get money to people and who needs help?
  • Are you expecting a worse economic downturn than in 2008?
    • Minister Morneau: We can’t know that for sure. We are taking measures to bolster the economy, and we will always be telling Canadians exactly what we know and don’t know about the challenge at hand.
    • Bank of Canada Governor Stephen Poloz: The Minister is correct. We have a strong banking system. I have great confidence in our capacity to deal with this situation, and to be nimble to whatever we face. In 2008, we were not prepared for the other side of the crisis. Today, we know that this is temporary and that our economy was really strong going into the crisis – that will make a difference to the recovery.

Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses

FromDepartment of Finance Canada

Backgrounder

The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.

On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses.

Support for Canadians

Income Support for Individuals Who Need it Most

Flexibility for Taxpayers

Mortgage Default Management Tools

Role of Financial Institutions

Support for Businesses

Supporting Canadian Businesses Through the Canada Account

Helping Businesses Keep Their Workers

Flexibility for Businesses Filing Taxes

Ensuring Businesses have Access to Credit

Supporting Financial Market Liquidity

Economic Response Plan – Cost and Implementation

Temporary Income Support for Workers and Parents

For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children, the Government is:

  • Waiving the one-week waiting period for those individuals in imposed quarantine that claim Employment Insurance (EI) sickness benefits. This temporary measure is in effect as of March 15, 2020.
  • Waiving the requirement to provide a medical certificate to access EI sickness benefits.
  • Introducing the Emergency Care Benefit providing up to $900 bi-weekly, for up to 15 weeks. This flat-payment Benefit would be administered through the Canada Revenue Agency (CRA) and provide income support to:
    • Workers, including the self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI sickness benefits.
    • Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent, but do not quality for EI sickness benefits.
    • Parents with children who require care or supervision due to school closures, and are unable to earn employment income, irrespective of whether they qualify for EI or not.

Application for the Benefit will be available in April 2020, and require Canadians to attest that they meet the eligibility requirements. They will need to re-attest every two weeks to reconfirm their eligibility. Canadians will select one of three channels to apply for the Benefit:

  1. by accessing it on their CRA MyAccount secure portal;
  2. by accessing it from their secure My Service Canada Account; or
  3. by calling a toll free number equipped with an automated application process.

Longer-Term Income Support for Workers

For Canadians who lose their jobs or face reduced hours as a result of COVID’s impact, the Government is:

  • Introducing an Emergency Support Benefit delivered through the CRA to provide up to $5.0 billion in support to workers who are not eligible for EI and who are facing unemployment.
  • Implementing the EI Work Sharing Program, which provides EI benefits to workers who agree to reduce their normal working hour as a result of developments beyond the control of their employers, by extending the eligibility of such agreements to 76 weeks, easing eligibility requirements, and streamlining the application process. This was announced by the Prime Minister on March 11, 2020.

Income Support for Individuals Who Need It Most

For over 12 million low- and modest-income families, who may require additional help with their finances, the Government is proposing to provide a one-time special payment by early May 2020 through the Goods and Services Tax credit (GSTC). This will double the maximum annual GSTC payment amounts for the 2019-20 benefit year. The average boost to income for those benefitting from this measure will be close to $400 for single individuals and close to $600 for couples. This measure will inject $5.5 billion into the economy.

For over 3.5 million families with children, who may also require additional support, the Government is proposing to increase the maximum annual Canada Child Benefit (CCB) payment amounts, only for the 2019-20 benefit year, by $300 per child. The overall increase for families receiving CCB will be approximately $550 on average; these families will receive an extra $300 per child as part of their May payment. In total, this measure will deliver almost $2 billion in extra support.

Together, the proposed enhancements of the GSTC and CCB will give a single parent with two children and low to modest income nearly $1,500 in additional short-term support.

To ensure that certain groups who may be vulnerable to the impacts of COVID-19 have the support they need, the Government is proposing targeted help by:

  • Providing $305 million for a new distinctions-based Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities.
  • Placing a six-month interest-free moratorium on the repayment of Canada Student Loans for all individuals currently in the process of repaying these loans.
  • Reducing required minimum withdrawals from Registered Retirement Income Funds (RRIFs) by 25% for 2020, in recognition of volatile market conditions and their impact on many seniors’ retirement savings. This will provide flexibility to seniors that are concerned that they may be required to liquidate their RRIF assets to meet minimum withdrawal requirements. Similar rules would apply to individuals receiving variable benefit payments under a defined contribution Registered Pension Plan.
  • Providing the Reaching Home initiative with $157.5 million to continue to support people experiencing homelessness during the COVID-19 outbreak. The funding could be used for a range of needs such as purchasing beds and physical barriers for social distancing and securing accommodation to reduce overcrowding in shelters.
  • Supporting women and children fleeing violence, by providing up to $50 million to women’s shelters and sexual assault centres to help with their capacity to manage or prevent an outbreak in their facilities. This includes funding for facilities in Indigenous communities.

Flexibility for Taxpayers

In order to provide greater flexibility to Canadians who may be experiencing hardships during the COVID-19 outbreak, the Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals, including certain trusts.

  • For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020.  However, the Agency encourages individuals who expect to receive benefits under the GSTC or the Canada Child Benefit not to delay the filing of their return to ensure their entitlements for the 2020-21 benefit year are properly determined.
  • For trusts having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May 1, 2020.

The Canada Revenue Agency will allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

In order to reduce the necessity for taxpayers and tax preparers to meet in person during this difficult time, and to reduce administrative burden, effective immediately the Canada Revenue Agency will recognize electronic signatures as having met the signature requirements of the Income Tax Act, as a temporary administrative measure. This provision applies to authorization forms T183 or T183CORP, which are forms that are signed in person by millions of Canadians every year to authorize tax preparers to file taxes.

The Canada Revenue Agency is adapting its Outreach Program to support individuals during COVID-19. Through this service, the Canada Revenue Agency offers help to individuals to better understand their tax obligations and to obtain the benefits and credits to which they are entitled. Traditionally available in-person, this service is now available over the phone, and through webinar, where possible.

The Canada Revenue Agency fully expects that many community organizations are considering whether to significantly reduce or perhaps cancel the provision of services provided under the Community Volunteer Income Tax Program. Additional efforts to encourage individuals to file their tax and benefit returns electronically, or where possible, through the File My Return service, will be put forward.

Role of Financial Institutions

The Minister of Finance is in regular contact with the heads of Canada’s large banks, and continues to encourage them to show flexibility in helping their customers whose personal or business finances are affected by COVID-19. The Superintendent of Financial Institutions has also made clear his expectation that banks will use the additional lending capacity provided by recent government actions to support Canadian businesses and households.

In response, banks in Canada have affirmed their commitment to working with customers to provide flexible solutions, on a case-by-case basis, for managing through hardships caused by recent developments. This may include situations such as pay disruption, childcare disruption, or illness. Canada’s large banks have confirmed that this support will include up to a 6-month payment deferral for mortgages, and the opportunity for relief on other credit products. These targeted measures respond to immediate challenges being faced across the country and will help stabilize the Canadian economy.

Mortgage Default Management Tools

The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers offer tools to lenders that can assist homeowners who may be experiencing financial difficulty. These include payment deferral, loan re-amortization, capitalization of outstanding interest arrears and other eligible expenses, and special payment arrangements.

The Government, through CMHC, is providing increased flexibility for homeowners facing financial difficulties to defer mortgage payments on homeowner CMHC-insured mortgage loans. CMHC will permit lenders to allow payment deferral beginning immediately.

Support for Businesses

The Government of Canada is taking immediate, significant and decisive action to support Canadian businesses facing financial hardship as a result of the COVID-19 pandemic.

On March 13, 2020, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures to support the functioning of markets, the resilience of our financial sector, and continued access to financing for Canadian businesses. These actions will significantly increase the availability of credit to businesses of all sizes, sustain liquidity in key financial markets, and provide flexibility to businesses experiencing hardship.

On March 18, 2020 the government and its partners announced further measures to support businesses. These actions are part of Canada’s whole-of-government response to COVID-19, and the significant stimulus program developed to stabilize Canada’s economy, support businesses and to protect Canadians.

Supporting Canadian Business through the Canada Account

The government is changing the Canada Account so that the Minister of Finance would now be able to determine the limit of the Canada Account in order to deal with exceptional circumstances. The Canada Account is administered by Export Development Canada (EDC) and is used by the government to support exporters when deemed to be in the national interest. This will allow the government to provide additional support to Canadian companies through loans, guarantees or insurance policies during these challenging times.

Helping Businesses Keep their Workers

To support businesses that are facing revenue losses and to help prevent lay-offs, the government is proposing to provide eligible small employers a temporary wage subsidy for a period of three months. The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. Businesses will be able to benefit immediately from this support by reducing their remittances of income tax withheld on their employees’ remuneration. Employers benefiting from this measure will include corporations eligible for the small business deduction, as well as non-profit organizations and charities.

Flexibility for Businesses Filing Taxes

The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020.  This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

The Canada Revenue Agency will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

The Liaison Officer service offers help to owners of small businesses to understand their tax obligations. Traditionally available in-person, this service is now available over the phone and will be customizing information during these challenging times by ensuring small businesses are aware of any changes such as filing and payment deadlines, proactive relief measures, etc.

Ensuring Businesses Have Access to Credit

The Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses. This will be an effective tool for helping viable Canadian businesses remain resilient during these very uncertain times. BDC and EDC are cooperating with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation and tourism. The near term credit available to farmers and the agri-food sector will also be increased through Farm Credit Canada.

The Office of the Superintendent of Financial Institutions (OSFI) announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets, effective immediately. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy.

The Bank of Canada also took a series of actions to support the Canadian economy during this period of economic stress, enhance the resilience of the Canadian financial system, and help ensure that financial institutions can continue to extend credit to both households and businesses. This included cutting the interest rate to 0.75% as a proactive measure in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices.

Supporting Financial Market Liquidity

As a further proactive and coordinated measure to bolster the financial system and the Canadian economy, the government announced on March 16 that it is launching an Insured Mortgage Purchase Program (IMPP). Under this program, the government will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market. Details of the terms of the purchase operations will be provided to lenders by CMHC later this week.

The IMPP enhances the already substantial set of measures announced on March 13 to support the economy and the financial system. CMHC stands ready to further support liquidity and the stability of the financial markets through its mortgage funding programs as necessary.

Further, the Bank of Canada has announced that it will adjust its market liquidity operations to maintain market functioning and credit availability during the current period of uncertainty in which conditions are evolving rapidly.

The Bank of Canada also announced that it will broaden eligible collateral for its term repo facility to include the full range of collateral eligible under the Standing Liquidity Facility, with the exception of the non-mortgage loan portfolio. This expansion of eligible collateral will provide support to funding conditions for financial institutions by providing a backstop to regular private funding.

The Bank also announced that it stands ready, as a proactive measure, to provide support to the Canada Mortgage Bond (CMB) market so that this important funding market continues to function well. This would include, as required, purchases of CMBs in the secondary market. Similar to the increase in Government of Canada bond buybacks, this will support market liquidity and price discovery.

Economic Response Plan – Cost and Implementation

Economic Response Plan – Cost and Implementation
Measure 2020-2021 Cost/Impact Implementation
Emergency Care Benefit Up to $10 billion Early April
*requires Royal Assent
Emergency Support Benefit Up to $5 billion Early April
*requires Royal Assent
GST Credit $5.5 billion By Early May
*requires Royal Assent
Enhanced Canada Child Benefit $1.9 billion May
* requires Royal Assent
Temporary Business Wage Subsidy $3.8 billion Immediately
Supporting legislation to follow
Canada Student Loan Payments $190 million Early April
* requires Royal Assent
Support for Indigenous Communities $305 million April
*requires Royal Assent
Support for people experiencing homelessness (through Reaching Home) $157.5 million April
*requires Royal Assent
Support for women’s shelters and sexual assault centres including on reserve $50 million April
*requires Royal Assent
Lower Registered Retirement Income Fund Minimum Withdrawal Amounts $495 million Immediately
Supporting legislation to follow
Total $27.4 billion  
Other supports    
Flexibility for individual and corporate taxpayers (tax payment deferral until September) $55 billion Immediately
Business Credit Availability Program (BCAP) through BDC and EDC $10 billion + Immediately
Credit and liquidity support through financial Crown corporations, Bank of Canada, OSFI, CMHC and commercial lenders (e.g., Domestic Stability Buffer, Insured Mortgage Purchase Program, Banker’s Acceptance Purchase Facility) In the range of $500 billion Immediately

 

Our Local Businesses Need Us: Let’s Show Them Our Love

Screenshot 2020-03-14 12.25.50

NB We have received new information from the federal and provincial health authorities since this was posted originally on Saturday afternoon. Extraordinary social distancing measures should be put in place. The Prime Minister is encouraging people to stay home if possible to help flatten the curve.  Instead of visiting your favourite restaurant right now, considering buying a gift card (this can often be done on line) to help them through a cash flow crunch right now so they’ll be here for the long term.

NB This post was written after the update from Dr. Bonnie Henry, the Provincial Medical Health Officer at noon on Saturday. Her next update is at 10am Monday. We can adjust our behaviours then as needed according to her advice.

The City of Victoria has been following all the health protocols required by the Provincial government and keeping our residents up to date by email, website and social media. We hope that all Victorians are following the advice of Dr. Bonnie Henry to keep themselves, their families and our communities healthy. She’s calm, measured and thoughtful.

We know that in addition to worrying about the health of themselves and their employees, some of our small local businesses are starting to worry about their survival. We’re already seeing a massive slow down in visitors to Victoria. People aren’t traveling, conferences have been postponed, and the cruise season is delayed until July 1st at the earliest, taking another swath of potential customers away.

I’m starting to get emails from small businesses. I got this one just now:

“I am hearing a great deal in the media about the growing fear among the public.  This is despite the fact that there are currently no health advisories against participating in many of the tourist activities in Greater Victoria—only those of gatherings of greater than 200 people.  Yet, we are seeing the public reacting with fear and making irrational decisions, such as not patronizing local businesses or cancelling existing bookings for activities.

“What I am not hearing is any of our government officials or local community leaders using their voices to help calm those fears and encouraging individuals and local businesses to support one another in order to help us all weather this storm—particularly in light of the profoundly negative impact decisions, such as cancelling cruise ships, is having on the local tourism industry.”

Let’s support this business owner and others through these hard times. Let’s eat out. Let’s drink some great local beer. Let’s stop buying online. Let’s shop local. Heck, let’s even do some of our holiday shopping now, really, really early.

As a city government, we want to provide as much certainty and hope as we can to our small business owners. That’s why Councillor Loveday and I are bringing an emergency motion to Council this Thursday asking staff to “examine all of the City’s fiscal, legislative and legal powers to support small businesses and jobs, arts and culture, and the visitor economy in order sustain the local economy during the pandemic and recover stronger and more resilient than before.”

For sure, senior levels of government have more tools at their disposal to support jobs and workers and we will continue to advocate to and partner with them. However, it is also incumbent on local governments to take action to support our local economies. There may be small things the City can do – or not do – to stimulate and sustain the local economy so that we can prepare for economic recovery in a sustainable and resilient way.

While we’re debating these issues and looking for solutions at City Hall, I hope we see Victorians out in the city, enjoying all of the wonderful experiences our small businesses have to offer – of course practicing the social distancing that Dr. Henry recommends. Now’s the time to show them our love.