Are the payments repayable?????

[bucket]

Here is a fact. ...

Peter Mackay isn't sharp enough to fix this listing ship. ....

That would be a job for Harper. ...

Don't like my analysis....fair enough ...but Harper does know how to bring things back level....with the right team....

[bucket]

Big Wheel, I meant that personally for Bucket, I don't want to see him stressed right out. Maybe I am looking at this wrong but what if the government instead of just handing out money, guaranteed loans to these small businesses so that they could make payroll even while they were closed. Then nobody would have to be laid off, would be less strain on the EI system and even if some of these loans are defaulted on it becomes the same as just handing out the money. The majority of people will try and pay it back and the government gets some of it's money back, now it is just gone

That is what the 300 billion was for when the government announced the initial 10 billion...

[Tucker]

The payments are just enough to prevent the peasants from rioting in the streets. Too much of a payment and the citiots would blow it on non-essentials. Be grateful for those payments, they are preventing truckloads of marauders from coming to see what you have stocked in your freezer/fuel tanks/bins. The economic devastation is going to be far worse than the risk of dying from this.

[farmaholic]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

[Sodbuster]

Anyone company on the receiving end of money from the government should be required to lower employees and CEO’s salaries to a max of $500,000 for at least 3 years or until they have paid back the money given to them, including stock options. We have seen in the past that a lot of money was funneled to the top end when government money was given to companies. If they want money they should become lean themselves.

[bucket]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Welcome back farmaholic..won't speak for others....i have missed your comments and levity on this forum...

[Horse]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Good to see you back, thought mabey you had gone to that eternal resting place (the civil service)

[jazz]

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Welcome back.

Anyway, its the same trend, loans for the west, cash with no strings for the east. The oil bailout package is all credit lines, maybe a bit of cash so oil worker go clean up wells or something.

I talked to FCC about the govt funding for farmers. Term loans repayable within 2-3yrs and you have to apply and justify how you were wronged by the virus.

[AlbertaFarmer5]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Welcome back.

I went through that yesterday and didn't see anything that would apply to our situation. But we aren't really in a situation either, looks to me like farmers are the least affected, and possibly stand to benefit from this in the end. Personally, having most of our crop out is a much bigger problem than the Covid 19, but farming in a high risk area as I do, I assume we will have catastrophe every year, budget accordingly, and in the rare event we don't have a disaster of some sort, it is a bonus.

Has anyone talked to their bank, do any of these mortgage and loan measures apply to farmers? And if they do, is it the bank taking the hit, or can they pass on the losses to the government( and back to us taxpayers)? Or is it just a chance to stop or reduce payments for a while, but interest keeps acrueing, being added on to the end of the loan instead?

[Guest]

https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Income_Support_for

Any relief for you?
Can imagine this is just the beginning, stay tuned, more to follow.

Nice to see you again !!!!

[farmaholic]

Quote from link I posted

"Supporting Financial Market Liquidity

As a further proactive and coordinated measure to bolster the financial system and the Canadian economy, the government announced on March 16 that it is launching an Insured Mortgage Purchase Program (IMPP). Under this program, the government will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market. Details of the terms of the purchase operations will be provided to lenders by CMHC later this week."

[AlbertaFarmer5]

It appears the new Farmaholic can be described this way:
edit, I seen he has lost his usual avatar May I suggest this one as a possible replacement.