Volume 7 • 2020 • Issue 5

CDAatWork DuringThe Pandemic The CDA COVID-19 Response Team, established in February, continues to work on a range of fronts to help minimize and mitigate the impacts of COVID-19 on the dental profession. On July 8, FinanceMinister Bill Morneau released an “Economic and Fiscal Snapshot” providing information on the economy and government’s books as a result of the COVID-19 crisis mitigation programs. Top-line takeaways included: • The budget deficit is projected to be $343 billion for 2020–21 (compared to an anticipated $34.4 billion deficit before the crisis). Canada’s total debt will reach $1.2 trillion. • The deficit is driven in part by a $106 billion drop in government revenues. • The economy is projected to shrink by 6.8% this fiscal year. • Unemployment is projected to stay at around 10% for remainder of the year. • The economy is expected to rebound by 5.5% by 2021. The snapshot also indicated that an extra $50 billion will be allocated for the Canada Emergency Wage Subsidy (CEWS). This is a positive development since CDA had previously asked for an extension and for the revenue qualifiers to be reviewed. On July 14, it was announced that CEWS has been extended to December 31, 2020. If legislation passes, the wage subsidy would be accessible to employers with a revenue decline of less than 30%, andwill provide a gradually decreasing base subsidy to all qualifying employers. Dentists can call CDA’s Help Desk for more details on all federal government support programs at 1-866-232-0385 , M-F, 7:30 am–8:00 pm EDT. Economic and Fiscal Snapshot Review of PPE Stockpiles and COVID-19 Programs The Auditor-General (AG) of Canada, Karen Hogan, announced in July that her department will study the government’s management of PPE as part of her first round of audits on the response to the COVID-19 pandemic. The study would focus on how the stockpile of vital PPE was managed, as well as how it was procured and distributed during the pandemic. The first round of audits will also include reviews of the Canada Emergency Response Benefit (CERB) and CEWS programs. The audits will consider both the finances and management of these programs and whether the programs delivered based on their strategic policy goals. Unlike most audits conducted by the AG's office, the study of each area will be released as it becomes available. This is being done to allow the government to respond and react if needed should a second wave of the virus hit. CECRA Program and TripleGuard Insurance On June 30, the federal government announced that it was removing the claw-back of insurance proceeds and provincial rent supports from the Canada Emergency Commercial Rent Assistance (CECRA) forgivable loan amount for both existing and new applicants. This means that dental offices that were deemed ineligible for CECRA because of their TripleGuard TM pandemic insurance will be reassessed. Existing applicants who are affected will be notified and will have any previously clawed-back amounts restored to their forgivable loan. 16 | 2020 | Issue 5