The federal government is revamping the employment insurance program to give more people access to financial relief during the COVID-19 pandemic.
The government announced on Thursday that the Canada Emergency Response Benefit has now been extended until September 27 to help with the transition from CERB to EI.
Changes to the EI benefits include more flexibility in the number of hours needed to qualify. There will be a one time top-up of up to 300 insurable hours for those applying for regular benefits and 480 hours for those applying for specialty sickness benefits or parental leave benefits.
The government also announced a new Canada Recovery Benefit of $400/week for the self-employed who are not eligible for EI.
A caregiving benefit of $500/week for 26 weeks will also be introduced for those who are unable to go to work because COVID-19 is keeping their kids at home.
Finally, the government has also introduced the Canada Recovery Sickness Benefit for those who cannot work because they are ill due to COVID-19. That benefit is $500/week for two one week periods over the year.
The income support plan, including EI and the three recovery benefit programs, will cost the government an estimated $37 billion.