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Government of Canada Boosts Wage Subsidy to 75% for Small, Medium Businesses to Avoid Layoffs During COVID-19 Crisis

Covid 19 Economic Response PlanePrime Minister Justin Trudeau today announced more help for small and medium-sized businesses to keep employees on the payroll during the COVID-19 crisis, including a 75 per cent wage subsidy and guaranteed interest-free loans.

Covid 19 Economic Response PlanePrime Minister Justin Trudeau today announced more help for small and medium-sized businesses to keep employees on the payroll during the COVID-19 crisis, including a 75 per cent wage subsidy and guaranteed interest-free loans.

During a news conference outside his residence at Rideau Cottage in Ottawa, Trudeau called small and medium-sized businesses the “backbone” of the economy and said the new measures will help them avoid ordering layoffs or closing down because of the climate of uncertainty caused by the pandemic.