Type of Intervention: Financial and Economic
Sectors Involved: Private Sector and Businesses
Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: Prince Edward Island
Lead People/Agency: Minister of Social Development and Housing, Ernie Hudson and Minister of Economic Growth, Tourism, and Culture, Matthew Mackay
Overview: Prince Edward Island announced rental assistance for Islanders and commercial businesses impacted by COVID-19. $1,000,000 was announced as part of a Temporary Rental Assistance Benefit to assist Island households that are currently renting and have seen an unexpected loss of income due to COVID-19.
Landlords who defer rent payments from their commercial tenants for three months (May-July) could be eligible for financial assistance (up to a maximum of $50,000 per landlord and $15,000 per tenant) if the deferred rent can’t be recovered.
Full details here: https://www.princeedwardisland.ca/en/news/province-announces-rental-support-measures
Type of Justification: Perception of an increased threat
Evidence/Justification: Premier Dennis King has stated, “Islanders are facing financial pressures and uncertainty like never before. Right now, more than ever, we have to find ways to support one another. The Province of Prince Edward Island will continue to listen and quickly respond to the needs of Islanders.”