COVID-19: Economic Relief Measures Announced to Date

  • The Government of Ontario announced on May 1, 2020 that it is taking steps to defer a portion of Global Adjustment charges for industrial and commercial electricity consumers.
  • This initiative is intended to provide immediate financial support for more than 50,000 companies through immediate temporary relief on their monthly electricity bills.
  • For more information, see the Government of Ontario’s news release of May 4, 2020.[189]

Urgent relief for small businesses and landlords

  • The Government of Ontario announced on April 24, 2020 that it is partnering with the federal government to provide urgent relief for small businesses and landlords affected by the COVID-19 outbreak.

  • The Ontario-Canada Emergency Commercial Rent Assistance program (OCECRA) provide forgivable loans to eligible commercial property owners experiencing rent shortfalls because their small business tenants have been heavily impacted by the COVID-19 crisis. To receive the loan, property owners are required to reduce the rental costs of small business tenants by at least 75% and commit to a moratorium on evictions for three months (April to June 2020).

  • The support is retroactive to April 1, 2020, and the deadline to apply is August 31, 2020.

  • The Government of Ontario announced on July 31st, 2020 a one month extension to help eligible small businesses pay rent in August.

  • For more information, see the Government of Canada’s news release of April 17, 2020 and the Government of Ontario’s news release of May 29, 2020 and July 31, 2020. For detailed information about this program, also see our real estate group’s publication, here.[190][191][192][193]

Ontario Jobs and Recovery Committee

  • On April 9, 2020, the Premier announced that the Government of Ontario has launched a new Ontario Jobs and Recovery Committee. The committee will focus on economic recovery after the COVID-19 pandemic is over.
  • For more information, and to see the membership of the Ontario Jobs and Recovery Committee, see the Government of Ontario’s news release of April 9, 2020.[194]

Supporting businesses to improve cash flow

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113

Share