Prime Minister Justin Trudeau. (File photo by THE CANADIAN PRESS)

Revenue dip needed to qualify for wage subsidy drops to 15% in March: Trudeau

Wage subsidy would be over 75% of each employee’s salary for qualifying businesses

Businesses hoping to qualify for the federal wage subsidy will only need to show a 15 per cent drop in revenues for March, Prime Minister Justin Trudeau said Wednesday (April 8).

The subsidy will still cover up to 75 per cent of each employee of a COVID-19 affected businesses, up to $847 per week.

The federal program has gone through a variety of changes since it was first announced several weeks ago; initially it was a 10 per cent subsidy for small businesses and then was expanded to be a 75 per cent subsidy for businesses of any size who could show a 30 per cent drop in revenue, compared to the same time last year.

Trudeau also said charities and non-profits can choose to exclude government funding if needed to prove a revenue drop.

Businesses need to survive and workers need to get paid if the economy is to “come roaring back after this crisis,” Trudeau said.

He also announced the federal government will cover 100 per cent of wages for students hired under the Canada Summer Jobs Program. The government will also extend the time period for job placements to the winter, in recognition that many jobs will start later than usual due to the pandemic, and companies will be permitted to hire students part-time.

The hope is this will encourage businesses to hire students to allow them to get the work experience they need and earn incomes during the downturn, Trudeau said.

“Today we’re taking a step in the right direction to help young people find work during this difficult time, but I want to be clear, we will be doing more,” he said.

“Just like we will do more for those who need help but are not eligible to receive the benefits that we have announced so far.”

READ MORE: Canada’s 75% wage subsidy is coming, but not for several weeks


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Tlaoquiaht First Nation woman, 26, fatally shot by police in Edmundston, N.B.

Police were conducting a well-being check at the time of the incident

Vernon high school football stars ready for the next level

Four members of the VSS Panthers will be entering the University of Calgary football program

Vernon chamber pushes province for child care support in next budget

The chamber addressed the B.C. Select Standing Committee working on 2021 budget proposal

Revelstoke, North Okanagan RCMP team up to nab Alberta man, stolen BMW

Helicopter, dogs used in North Okanagan highway arrest

Vernon Walmart staffer finds $7K lost by Enderby business owner

Entrepreneur elated after Walmart worker, who lost his own business to COVID, returned lost deposit

22 new COVID-19 test-positives, one death following days of low case counts in B.C.

Health officials urged British Columbians to ‘stand together while staying apart’

‘We either make a difference or we don’t’: Revelstoke teen leads protest in support of BLM

Revelstoke joined cities across the world protesting against racism and police brutality

Cyclist ‘seriously injured’ after collision with dump truck in Kelowna

The woman sustained injuries to one of her legs, according to RCMP

Seniors to receive up to $500 in promised COVID-19 emergency aid in early July

The Liberal government first promised the extra help in mid-May, but had to create a new system to deliver the aid

Kamloops holds Black Lives Matter rally despite cancellation of protest

Organizers announced cancellation of the event after receiving criticism on social media

Undisclosed video evidence comes to light in West Kelowna murder trial

‘They’ve disclosed hundreds of pieces of evidence. Why would this have gotten missed?’ - defence lawyer

Summerland council to continue online meetings

Virtual meetings remain to comply with COVID-19 restrictions

Penticton RCMP arrest man found ‘unlawfully in home’

Police are asking anyone with information to contact them

Shuswap man hosting concert in his driveway

Lamenting the loss of Music in the Park events due to COVID-19, Shane McMahon is putting on a show

Most Read