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\n\t\t\t\tU.K. couple dies in Vietnam hotel after drinking possibly tainted limoncello<\/span>\n\t<\/p>\n<\/p><\/div>\n\t\t\t<\/a>\n\t\t<\/li>\n<\/ul>\n<\/section>\n
B.C. Premier David Eby said the impact of the tariffs could be as bad as the 2008 financial crisis.<\/p>\n
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Eby said relief measures could include pandemic-style employment insurance for people who may be laid off as their employers feel the pinch, as well as grants and loans for businesses.<\/p>\n
\u201cThese are the kinds of responses that we expect to see through this period,\u201d he said.<\/p>\n
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<\/p>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2:00<\/time>Canadian shoppers look to buy local as U.S. tariff threat looms<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<\/span>
As Canadians felt the economic strain of the pandemic, Ottawa rolled out the Canada Emergency Response Benefit (CERB), a measure introduced for Canadian businesses and self-employed workers affected by COVID-19.<\/p>\n
Eligible individuals and businesses received $2,000 every four weeks, which came to $500 a week.<\/p>\n
\u201cThe public service was kind of turned inside out to get this done quickly. And it was done fairly well. But it was a very broad stroke and $82 billion is not chump change,\u201d Fagan said, adding that relief for businesses could be more targeted this time around, being limited to sectors with vast exposure to the U.S. market.<\/p>\n
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\u201cYou could see support for companies as necessary in sectors that have been hit with tariffs.\u201d<\/p>\n
Lander said the list of industries that may need government support could be very wide.<\/p>\n
\u201cOil and gas, mining, lumber, fisheries, water \u2013 they\u2019re all going to be affected. They\u2019re all going to need support.\u201d<\/p>\n
He added that Ottawa could be a bit more discretionary on who to support than it was with the COVID-19 support programs, like the Canada Emergency Business Account (CEBA).<\/p>\n
CEBA gave eligible small businesses and not-for-profits \u201cup to $60,000 in emergency funding, in the form of loans that were initially interest-free and partially forgivable, to help cover a variety of expenses that could not be deferred during a period of shutdown, such as payroll, rent, insurance and utilities.\u201d<\/p>\n
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But in the 2023-24 financial year, Canada ran a budget deficit of nearly $62 billion, and both CEBA and CERB have come under scrutiny in the years since over what critics have called inadequate screening processes for applicants.<\/p>\n
\u201cIf they\u2019re otherwise viable businesses, then there\u2019s nothing wrong with offering them support to get through the tough times. The tariffs would eventually go away, we hope. If there are industries that are in terminal decline anyway and this is just accelerating it, then support shouldn\u2019t be offered,\u201d Lander said.<\/p>\n
Lander said Ottawa\u2019s pandemic response included some measures that propped up non-competitive businesses.<\/p>\n
\u201cTrying to prop up retail or trying to prop up movie theatres was one of them. Those were foolish dollars because they were already in decline. COVID just laid bare that they don\u2019t really have a long-term business model,\u201d he said.<\/p>\n
\u2013with files from The Canadian Press<\/em><\/p>\n<\/p><\/div>\n
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