Details of Canada’s COVID wage subsidy released

The Prime Minister has announced details of how the Canada Emergency Wage Subsidy will work, but was not able to say how much it will cost at this point.

Justin Trudeau said businesses that have seen their revenues decrease by at least 30 per cent due to Covid-19 will be eligible for the subsidy, regardless of how many employees they have

It will also apply to charities and non-profits.

The government will cover up to 75 per cent of the salary of each employee’s salary on the first $58,700 that they make, meaning up to $847 a week, back dated to March 15.

“This subsidy will make a real difference in your lives and help everyone affected bridge to better times,”: said Trudeau.

The PM also cautioned businesses that Ottawa is trusting them “to do the right thing.”

“If you have the means to pay the remaining 25 per cent not covered by the subsidy, please do so. And if you think this is a system you can take advantage of for gain, don’t. There will be serious consequences for those that do,” warned Trudeau.

When asked about the cost of the program, Trudeau could not provide any sort of figure, but said the finance minister will have more details tomorrow.

Canada has 6,671 cases of Covid-19 with 67 deaths as of Monday at 8 a.m..

Trudeau said the federal government hasn’t had any requests from the provinces to have the Armed Forces respond to the crisis, but says the force is prepared if that happens.

“Whether it is to bring medical equipment to those who need it, or to help with forest fires or flooding, our men and women in uniform are always there for you.”