The world is going through a challenging and unpleasant time with restrictions being put on people and places, followed by a complete lockdown. As the people around the globe take a pledge to control the spread of the virus through social distancing and quarantined lives, there is a need to go beyond the typical measures if we really want to secure our future. As the efforts going on to tackle the issue and simultaneously handle the economy and livelihood of people, the time has come to take brave steps against this social and financial insecurity that many of us are facing in this unprecedented time.
With millions of job losses and pay cuts, the coronavirus has put our career and jobs in a very vulnerable state. So, what should be the life post-covid-19? What kind of future do you wish for your family once the pandemic ends? Have y0u ever thought if I were living in a country like Canada or Australia, my financial position would have been much better or completely different from what I am having now?
Make your family’s life Covid Ready
Post pandemic people will be more fearful and careful about their future. They no longer want to take any risks, especially when it is related to their health and overall well-being. Well, in the case migration to another country can be beneficial. And with country we mean- Canada and Australia.
Both countries are not only economically strong and developed, but their health systems and financial institutions responded positively to financial and psychological stress the covid-19 situation. Though, the two countries also have thousands of confirmed cases of the novel coronavirus, it’s quite impressive to see how the leaders of world’s powerful economies are injecting billions of dollars in emergency cash to support people and businesses to counter the impact of the crises.
Both, Canada and Australia, are taking every possible step to restart their economy and society while putting measures in place to ensure the health and safety of their citizens or residents.
A comprehensive view of measures taken by Canada and Australia to support individuals and businesses amid the covid-19 pandemic:
Canada
Prime Minister Justin Trudeau announced several relief packages, employment benefits, and several other economic measures to help individuals and businesses affected by the covid-19 spread. As per Canada’s economic response plan the government is taking decisive actions to help Canadians facing hardships due to the COVID-19 outbreak.
On March 18, 2020, the Prime Minister announced a set of measures to stabilize the economy by providing up to $27 billion to Canadian workers and small businesses. The government also introduced an Emergency Care Benefit with the aim of providing up to $900 bi-weekly, for up to 15 weeks to Canadian workers, including self-employed, or who are taking care of their families or who do not have paid leaves. This also includes workers who have been laid off by their employers.
Apart from this, there is a flexibility provided to taxpayers by allowing all taxpayers to defer, until August 31, 2020. Additionally, $55 billion will be used through tax deferrals to stabilize the economy.
The above ones are mere examples of what Canada is doing for its people and how the government is doing everything to not only boost the economy but also protect the physical and financial health of its people.
Australia
Australia is yet another country that puts the health and safety of its citizens first. Though, Covid-19 have a profound effect on numerous businesses in Australia, the federal government is constantly monitoring the situation and thus announced $17.6 billion stimulus package to help small and family businesses.
Apart from this, the government has invested $6.7 billion to boost the income of small businesses with a turnover of under $50 million. The package provides a temporary cash flow support to businesses that employ staff.
Not only this, there is $1.3 billion measure in place to help apprentices and trainees. The employers may apply for up to 50% wage subsidy, of up to $7,000 per quarter.
To Sum Up
Post Covid-19, people will be more concerned about securing a better future for themselves and living in a country where they feel Covid ready. They will no longer look for temporary measures, but rather something permanent. People who have the skills and abilities to migrate to developed economies will be tempted to do so. So, here’s a great opportunity when you can make a life-changing decision today and secure a financial secured future your loved ones.
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