The Canada Emergency Wage Subsidy is getting extended by another three months until the end of August.
Today Prime Minister Justin Trudeau said this extension to the subsidy, which provides employers with up to 75 percent of an employee’s wages during the pandemic, will help bring back more workers and help hire new ones.
“Business owners, please take confidence from this announcement,” said Trudeau. “You now have some runway to catch your breath as you get restarted, so please, bring back your employees.”
The PM also said the program’s 30 percent revenue decline threshold shouldn’t be be a barrier to new growth and will be restudied.
Eligibility for the subsidy will also be broadened.
The subsidy is on the first $58,700 of an employee’s salary, giving up to $847 per week per employee.
It was retroactive to March 15th and was initially to have covered only 12 weeks of work.
Today, the Prime Minister also announced $450 million in wage aid for the some 15,000 health researchers and lab technicians at hospitals and medical institutes across Canada who have had to cease work during the crisis.
We’re fortunate to have some of the brightest researchers right here in Canada. Today, we’re announcing new supports for them so they can keep doing their critical work. Tune in now for the details: https://t.co/9iYFXR1uVl
— Justin Trudeau (@JustinTrudeau) May 15, 2020
To watch Justin Trudeau’s full May 15th address, see below.
https://www.cpac.ca/en/direct/cpac2/457138/pm-justin-trudeau-provides-update-on-federal-response-to-covid-19-34/