By Emily Keller

COVID-19 UPDATE

Premier Kenney announces more financial supports, predicts peak of COVID-19 infections for late spring

Mar 18, 2020 | 5:48 PM

Premier Jason Kenney says that scientists are telling the provincial government that COVID-19 infections will peak around three to five weeks from now, and that the need for social distancing may not end until May.

Giving an update Wednesday, Premier Kenney also announced several new measures for financial support for Albertan’s during the COVID-19 pandemic.

Kenney says they will be putting $50 million to Emergency Isolation Support, which will include a temporary program for working adults who have self-isolated that can apply to receive a payment of $572 to bridge until the federal stimulus package is brought into place. This will also be available to those who are sole caregivers for a dependant who are also self-isolating. This will be for those who do not have another source of income or compensation during self-isolation.

The applications will be online next week.

There will also be a utility payment holiday, where residential, farm and small commercial customers will be able to defer bill payments for the next 90 days so they will not be cut off from services such as natural gas and electricity.

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There will also be a student loan repayment holiday, where the government says they will implement an interest-free, six-month moratorium on Alberta student loan payments.

ATB Financial customers are also now able to apply for deferrals on their loans, lines of credit and mortgages for up to six months.

Alberta credit unitions will also provide access to programs to help with potential difficulties with loan payments and short-term cash flow.

Earlier noting the sharp decline in oil prices during his announcement while also being quoted as saying the industry in Alberta is on “life support”, Kenney says the government will be deferring the collection of corporate income tax balances and instalment payments that are due after today, until August 31. The province says this will give businesses access to about $1.5 billion in funds during the pandemic.

“In these exceptional circumstances, having cash on hand is vital to families and employers and it’s critical we give Albertans this certainty and support,” said Finance Minister and GP-Wapiti MLA Travis Toews. “This tax measure will provide timely relief and additional runway for businesses to continue operating and compensating their employees during this difficult time.”

Premier Kenney says they will be continuing to announce more supports in the coming days.

“We will help shelter Albertans from the economic disruption of COVID-19 now, and position Alberta’s industry and businesses to bounce back when the situation stabilizes,” said Kenney. “This is an initial set of measures, and more will follow in the days to come.”