The Trudeau government has unveiled the details of its $71 billion wage subsidy program for companies to help prevent worker layoffs because of the pandemic.
Finance Minister Bill Morneau says it will be provided to employers who have seen at least a 30 percent drop in revenues.
“The decline of 30 percent or more will be determined by comparing your revenues, if you’re in a business, to the same month last year for March, April, or May and you will need to re-apply each month,” explained Morneau.
The finance minister adds the program is also open to non-profit groups and charities which have seen a similar drop in revenues.
It will come with some employer responsibilities. Morneau notes, “As an employer, you’ll need to attest that you are doing everything you can to pay the remaining 25 percent of your worker’s income. We know this may not always be possible. The system will be flexible because what’s most important is that Canadians can come back to work.”
