Trudeau Unveils Fiscal Jolt Worth 3% of Canada’s Economy (5)

Prime Minister Justin Trudeau announced plans to roll out a fiscal package worth 3% of Canada’s economy as it grapples with fallout from the coronavirus pandemic.

The measures will be worth a combined C$82 billion ($56.7 billion), Trudeau said Wednesday in Ottawa. This includes C$27 billion in direct support for individuals and companies and C$55 billion in temporary tax deferrals for both households and businesses.

Justin Trudeau speaks outside his residence in Ottawa on March 16, 2020.

Photographer: David Kawai/Bloomberg

It’s a significant escalation in Canada’s stimulus package, and the urgency appears to be ramping up by the hour. Late Tuesday night, government officials were only talking about the direct stimulus aspect of the ...