Trudeau promises 75% wage subsidy for businesses hit by coronavirus

Posted March 27, 2020 11:28 am 2:20Coronavirus outbreak: Trudeau says Canada working with G20 nations to conta…

Posted March 27, 2020 11:28 am

2:20Coronavirus outbreak: Trudeau says Canada working with G20 nations to contain COVID-19

Prime Minister Justin Trudeau said Thursday that he in conferring with leaders of the world’s biggest economies about the global impact of the COVID-19 pandemic via a video conference with leaders of the G20. The leaders spoke about co-ordination of international efforts to contain the deadly virus and cushion the devastating blow to the world’s economy.

The federal wage subsidy for small and medium-sized businesses hit by the coronavirus pandemic is jumping up to 75 per cent, the prime minister announced on Friday.

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

[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]

READ MORE: Canadian unemployment could hit 15 per cent amid coronavirus pandemic, deficit to $113B

Last week, Trudeau announced a 10 per cent wage subsidy but admitted Friday it’s not enough.

“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.”

Advertisement

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-2199808-26’);  » READ MORE FROM GLOBAL NEWS

Do you have a news tip or a story idea?

Send it our way!

This site uses cookies to provide you with a great user experience. By continuing to use this website, you consent to the use of cookies in accordance with our privacy policy.