Canada has extended the wage subsidy until June 2021
On Friday, Prime Minister Justin Trudeau announced that the Canada Emergency Wage Subsidy would be extended until June 2021. The update came alongside new commercial rent subsidies as well, as part of a renewed effort to support Canadians and Canadian businesses throughout the pandemic.
In the press conference, Trudeau reframed the effects of lockdowns on the economy. Now, the Prime Minister believes that keeping Canadians safe and supporting Canadian businesses will reduce the long-term economic effects of COVID-19. The concept of ‘toughing through’ a virus is no longer a viable option.
We’ve just seen the latest projections from Dr. Tam and Dr. Njoo. The situation is serious. Tune in to my Friday update for the latest COVID-19 developments: https://t.co/ostwzEAfL9
— Justin Trudeau (@JustinTrudeau) November 20, 2020
The proposal for the wage subsidy extension was first announced on October 15th, but wasn’t made law until Thursday night. In addition to the wage subsidy, new rent subsidies are now available for businesses affected by COVID-19 and lockdowns. In a worst-case scenario, up to 90% of commercial rent will be covered by the government.
All of the new supports can be seen on the Government of Canada website. As case numbers continue to spike around Canada, we’re happy to see the federal government double down on supports for Canadians.