Announcement on March 21, 2025:

To support workers, the new government will:

• Temporarily waive the one-week employment insurance (EI) waiting period.
• Suspend rules around separation for a six-month period, so workers don’t have to exhaust severance pay before collecting EI.
• Make it easier to access EI by increasing regional unemployment rate percentages.

To support businesses, the new government will:

• Defer corporate income tax payments and GST/HST remittances from April 2 to June 30, 2025, providing up to $40 billion in liquidity to businesses.
• Deploy a new financing facility for businesses.
• Provide more funding to Canada’s regional development agencies, so they can better support businesses.

Announcement on March 7, 2025:

To support our businesses and ensure they have the liquidity they need through this turbulent time, the Government of Canada will be:

• Launching the Trade Impact Program through Export Development Canada. The program will deploy $5 billion over two years, starting this year, to help exporters reach new markets for Canadian products and help companies navigate the economic challenges imposed by the tariffs, including losses from non-payment, currency fluctuations, lack of access to cash flows, and barriers to expansion.
• Making $500 million in favourably priced loans available through the Business Development Bank of Canada to support impacted businesses in sectors directly targeted by tariffs, as well as companies in their supply chains. Businesses will also benefit from advisory services in areas such as financial management and market diversification.
• Providing $1 billion in new financing through Farm Credit Canada to reduce financial barriers for the Canadian agriculture and food industry. This lending offer will help address cash flow challenges so that businesses can adjust to a new operating environment and continue to supply the high-quality agricultural and food products that Canadians rely on.
• Introducing temporary flexibilities to the EI Work-Sharing Program to increase access and maximum agreement duration. The Work-Sharing Program provides EI benefits to employees who agree with their employer to work reduced hours due to a decrease in business activity beyond their employer’s control. This helps employers retain experienced workers and avoid layoffs and helps workers maintain their employment and skills while supplementing the reduced wages with EI benefits.