Ottawa's $73 billion wage subsidy program, which covers 75 per cent of an eligible company's payroll, will be extended to the end of August, Prime Minister Justin Trudeau announced on Friday (May 15th).
The program aims to help businesses keep workers on the payroll during the COVID-19 pandemic - and as they re-start operations - by covering up to a maximum of $847 per week per employee.
“Business owners: please take confidence from this announcement. You have some runway to catch your breath as you get restarted, so please, bring back your workers,” Trudeau said.
Companies that saw their revenues drop by 15 per cent in March or 30 per cent in April and May are eligible for the program — but Trudeau suggested changes could be coming to that threshold.
"As businesses start up again, this shouldn't become a barrier to growth," he said.
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