Monday, October 6, 2025

Trudeau Begins Plans for CERB Phase-Out, Government Aid To Be Replaced by Employment Benefits

The Canadian federal government has stated it will begin to phase out the Canadian Emergency Response Benefit (CERB), and will instead transition those in need of income support to employment benefits.

On Friday, Canadian Prime Minister Justin Trudeau unveiled his plan to begin winding down the CERB benefits that over 8.5 million Canadians have been receiving since the the program was first introduced. As some of the recipients of the benefit will lose their eligibility come the end of August, they will be redirected to employment benefits, while those that do not qualify will receive some form of a stipend in the meantime.

The latest CERB phase-out plan is part of the federal government’s efforts to get Canadians back into the workforce and off of monthly aid. However, the transition is not an easy task, given that a sudden lack of income aids could further impede economic recovery; conversely, the slow phase-out could deincentivize the need to get back to work. The CERB program has so far delivered a total of $63 billion in benefits to over 8.5 million Canadians. As of June, almost 40% of the 3 million lost jobs due to the pandemic have been recovered.

Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

US Federal Reserve: A Top Holder of the Largest Corporate Bond ETFs

As the US economy continues to be battered down by the coronavirus pandemic, the Federal...

Sunday, July 5, 2020, 05:29:00 PM

Biden Administration Proposes $1.52 Trillion Budget to Address Inequality, Climate Change

In a broader attempt to redefine the federal government’s role in America, the Biden administration...

Sunday, April 11, 2021, 04:17:00 PM

It’s A Coronavirus Economy, We’re All Just Planning In It

It’s been a few hours now since Canada’s Federal government announced a plan for $82...

Thursday, March 19, 2020, 09:00:29 AM

S&P 500 Soars To 4,000 Following Biden’s Infrastructure Spending Plan Unveiling

Technology shares were sent soaring to new highs as investors’ optimism lifted amid increasing confidence...

Friday, April 2, 2021, 04:40:00 PM

Canada Revenue Agency Fires Over 200 Employees for Improper CERB Claims

The Canada Revenue Agency has terminated 232 employees to date for improperly collecting the Canada...

Wednesday, March 27, 2024, 08:13:32 AM