Letter: More information needed on financial matters

I applauded when this publication responded criticism on content not being broad enough. I agree the priorities of this virus and its impact on the health and welfare of its readership.

I would suggest that more needs to be researched and shared regarding information on people’s financial welfare.

People are making decisions based on headlines, but not always full information.

Questions need to be addressed.

Can a bank close and take away access to safety deposit boxes?

In a rural community, as discussion on our bus test shows, some people cannot access other branches.

As well, when you close branches, you create crowding in the branch you leave open.

What is the cost of deferring a mortgage, in interest, and your credit rating?

Deferring property tax, most people have given this money to the bank to pay. Ability to defer allows the bank to get interest from your money longer.

If you work reduced hours, will this reduce amount you can claim if the business is forced to close?

Is your ei taxed? ( be ready for it, your CPP will be unless you make noise now).

Should you take money from your investments while the market is low, and pay it back as the markets rise, or use a credit line?

I believe this publication, all media, needs to start addressing more of the welfare of the readership.

Alan Otway

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