Help from the federal government will continue on. The Canada Emergency Wage Subsidy is being extended until the end of August. The Prime Minister wants businesses to rehire employees.
During his daily address on May 15, Justin Trudeau officially announced an extension of the wage subsidy that's meant to get people back on the payroll.
Now, the aid from the government will continue for another three months to the end of August.
Trudeau asked business owners to catch their breaths.
"Please bring back your employees," he said.
He also noted that the program needs to continue working for Canadians and encourages businesses to rehire staff.
The 30% revenue decline threshold for eligibility will be looked at along with other things that might need to be adjusted.
"Needing a decline shouldn't be a barrier to growth," Trudeau said.
Eligibility requirements have been changed so that more people can get back on the payroll.
"We're here for you now and throughout the summer," the PM said.
Since the subsidy was first opened, just over 132,000 applications have been received and 123,642 have been processed and approved as of May 11.
That equals $3.36 billion of funding paid out to businesses.
So far, 1,693,131 employees have been helped out by the wage subsidy.
"Business owners, please take confidence from this announcement. You now have some runway to catch your breath as y… https://t.co/HuqjOvNSrd— CPAC (@CPAC) 1589556627
When asked about employees not being rehired, Trudeau noted that there is a lot of uncertainty right now and businesses are trying to juggle a lot.
He said that the extension of the subsidy will "give businesses the certainty to know that we'll be there for them."
The prime minister first mentioned an extension of this help that pays 75% of wages for qualifying business just a week earlier but he didn't give details on just how long it would go for.
The Canada Emergency Wage Subsidy was introduced back in March as an increase from the previously announced 10% subsidy.
Of the approved applications so far, 117,972 are valued under $100,000.
Another 5,542 are for between $100,000 to $1 million, 115 are for between $1 million and $5 million and 13 are for more than $5 million.