Description: On April 22, the Prime Minister announced $9 billion in assistance for students who have found their summer employment options limited, or eliminated outright, by COVID-19. With summer camps shuttered, and traditional opportunities disappearing, students will be eligible to receive $1250 per month. While some will obviously appreciate the government’s action, others may question why the government did not just make students eligible for the $2200 per month Canada Emergency Response Benefit. https://www.cbc.ca/news/opinion/opinion-student-benefit-covid-cesb-1.5541522
Date: April 22, 2020
1) Are you planning to apply for this benefit?
2) Some people are suggesting that this would be a good time for Canada to move forward with the concept of a guaranteed annual income, rather than a suite of different benefit programs. What do you think of this concept?
3) Page 382 of Wiley’s Financial Accounting: Tools for Business Decision-Making, talks about cash budgeting, one of the important principles of cash management. Have you prepared a cash budget for the upcoming academic year? Have you factored in this new benefit?