Canindia News
BUSINESS / ECONOMY COMMUNITY HEADLINE

Trudeau hikes 75% wage subsidy for small businesses hit by coronavirus pandemic

Prime Minister Justin Trudeau has announced a major increase to the wage subsidy for small- and medium-sized businesses, boosting it to 75 percent, up from the 10 percent previously promised.

This decision, to help “qualifying businesses” keep employees on staff, is being back-dated to March 15, with more information coming over the weekend.

Prime Minister Justin Trudeau spoke with reporters at his daily update from Rideau Cottage, where he remains in isolation, as cases of the new coronavirus continue to spread across the country.

“It’s becoming clear that we need to do more — much more — so we’re bringing that percentage up to 75 per cent for qualifying businesses,” he said. “This means people will continue to be paid even though their employers have to slow down or stop their businesses.”

Related posts

India’s April core industrial output rises 4.7%

Markets gloom to be short-lived as fiscal measures expected

CanIndia New Wire Service

Agarwal’s investment firm not to pursue Jet’s EoI

Leave a Comment