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Mar 24, 2020

NMMA Canada logoNMMA Canada recently sent out an excellent summary of the novel coronavirus (COVID-19) situation that has been rapidly evolving in Canada and across the world.

In the best interests of the industry, NMMA Canada has graciously agreed to allow Boating Industry Canada News Week to share this information with Canada’s marine business.

GOVERNMENT RESPONSE TO DATE

The federal government has committed to support businesses and workers in the face of the economic threat of COVID-19. Some steps the government has taken to date include:

FUNDING RELIEF FOR BUSINESSES

On Wednesday, March 18th, the Prime Minister announced a relief package — Canada’s COVID-19 Economic Response Plan — for individuals and businesses affected by COVID-19. The package includes $27 billion in direct support to Canadians and businesses, and a further $55 billion to meet liquidity needs for businesses and households through tax deferrals. Some of the business-focused highlights include:

A full list of the measures, including funding and timelines, can be found here. (https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html)


FURTHER EXPECTED ACTIONS BY GOVERNMENT

Last week, the Canadian Parliament adjourned until April 20th. This means that the federal budget will likely be postponed until then, although Minister Morneau would not confirm a date when asked by reporters. However, the Minister did say parliament could reconvene before then to pass emergency measures to stimulate the economy and support Canadians. 

Minister Morneau also signaled there would be more targeted supports announced in the days ahead for the tourism and hospitality sectors, which could be especially hard-hit by the quarantine measures being brought in by municipal, provincial and federal authorities. NMMA Canada will be advocating on behalf of our members to ensure the voice of the recreational boating sector is heard as the government develops its response.

RESOURCES FOR YOUR BUSINESS

Click here to read more (http://nmma.net/assets/cabinets/Cabinet486/Coronavirus%20Update%20for%20NMMA%20Canada%20Members.pdf)

NMMA Canada is here to serve as a resource for the marine industry throughout this crisis. Please let us know of any changes or ways that we can further support your business over the course of the next few months. If you have questions, you can contact Sara Anghel (This email address is being protected from spambots. You need JavaScript enabled to view it.) or Jim Wielgosz (This email address is being protected from spambots. You need JavaScript enabled to view it. ).