Global News published this video item, entitled “Why big businesses haven’t touched Canada’s federal LEEFF program” – below is their description.
More than four months after the federal government announced its program offering emergency loans to the country’s largest businesses amid the novel coronavirus pandemic, none of the applications have been approved and no money has been allocated.
The Large Employer Emergency Financing Facility (LEEFF) was announced by the Liberals on May 11, as part of the federal government’s emergency economic response to the COVID-19 outbreak.
The loans, starting at $60 million, were to be made available to companies that employ large numbers of Canadians and have at least $300 million in annual revenue, to provide short-term assistance to help them weather the pandemic.
Mike Le Couteur explains why, and what critics say the government should focus on instead.
For more info, please go to https://globalnews.ca/news/7339272/canada-coronavirus-corporate-loan-ineffective-leeff/
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About This Source - Global News
Global News is the news and current affairs division of the Canadian Global Television Network, based in Vancouver, Canada.
Canada is a country in the northern part of North America. It extends from the Atlantic to the Pacific and northward into the Arctic Ocean, covering 9.98 million square kilometres (3.85 million square miles), making it the world’s second-largest country by total area.
Its southern and western border with the United States, stretching 8,891 kilometres (5,525 mi), is the world’s longest bi-national land border. Canada’s capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver.
Various Indigenous peoples inhabited what is now Canada for thousands of years before European colonization. The Canada Act 1982, which severed the vestiges of legal dependence on the British Parliament. Canada is a parliamentary democracy and a constitutional monarchy in the Westminster tradition, with a monarch and a prime minister who serves as the chair of the Cabinet and head of government.
As a highly developed country, Canada has the seventeenth-highest nominal per-capita income globally as well as the thirteenth-highest ranking in the Human Development Index. Its advanced economy is the tenth-largest in the world, relying chiefly upon its abundant natural resources and well-developed international trade networks.