Canada coronavirus measures worth 5% or more of GDP: finance minister

FILE PHOTO: Canada's Minister of Finance Bill Morneau speaks in the House of Commons as legislators convene to give the government power to inject billions of dollars in emergency cash to help individuals and businesses through the economic crunch caused by the novel coronavirus outbreak, on Parliament Hill in Ottawa, Ontario, Canada March 25, 2020. REUTERS/Blair Gable

OTTAWA (Reuters) - Canada’s measures to help people and firms deal with the effects of a coronavirus outbreak is equivalent to 5% or more of the country’s gross domestic product, Finance Minister Bill Morneau said on Wednesday.

Morneau also told reporters that in terms of direct spending alone, the total will be in excess of C$105 billion ($73.8 billion). Ottawa is also offering C$85 billion in tax referrals.

($1=1.4226 Canadian dollars)

Reporting by David Ljunggren; Editing by Chizu Nomiyama