The parliamentary secretary to the federal finance minister says they’re working to do what they can to mitigate the economic impacts of COVID-19.
Sean Fraser, the Member of Parliament for Central Nova, says members of the finance minister’s team have been working hard on measures announced recently.
Fraser told The Hawk Morning Show federal officials are trying to make sure all families get through this pandemic.
“If you compare this to the 2008 (financial) crisis you saw in the US, banks were treated as being too big to fail,” he said. “Well, our guiding principal is that households are too big to fail- we’re going to have the support that’s needed to make sure people can weather this storm.”
Fraser said it isn’t enough to get money into people’s hands.
He said health restrictions mean little is available to buy.
“The local businesses that provide services- whether it’s a restaurant, or nail salon, or a barbershop- are all closed down for public health reasons,” he said. “This is a once-in-a-century event, and I certainly hope I don’t live to see a second one.”
Fraser said they’re trying to make sure communities still have those services after the crisis has passed.
