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Trudeau says details coming soon on help for households to access credit

Last Updated Apr 7, 2020 at 2:05 pm EDT

Prime Minister Justin Trudeau addresses Canadians on the COVID-19 pandemic from Rideau Cottage in Ottawa. THE CANADIAN PRESS/Sean Kilpatrick

OTTAWA — Prime Minister Justin Trudeau is raising anew his government’s promise to help hard-hit Canadians more easily access credit.

Speaking at his daily press briefing, Trudeau says moves by Canada’s big banks to reduce credit-card costs for those whose finances have been harmed by COVID-19 is a first step, but that they have to do more for more households.

The Liberals have talked since last month about helping people get loans, possibly federally backed so they can be offered at low rates and on favourable repayment terms.

Trudeau says it’s still a work in progress.

He also says the opposition parties now have a draft of the legislation that would create a 75-per-cent wage subsidy for businesses of all sizes to use to keep people on their payroll.

Parliament will have to reconvene to deal with the emergency spending measure.

This report by The Canadian Press was first published April 7, 2020.

The Canadian Press