Prime Minister Justin Trudeau reeled out more details on the government’s 75 per cent wage subsidy for Canadians during the COVID-19 crisis.
Trudeau announced Monday morning that the number of workers a business employs doesn’t matter, as long as it can show a revenue decrease of at least 30 per cent since the pandemic was declared.
Previously, it was thought the government’s aid package applied only to small to medium businesses.
Trudeau added that the government will pay 75 per cent of an employee’s wage up to $58,700, equivalent to $847 per week.
The subsidy, said the prime minister, would be backdated to March 15, as previously announced.
Non-profits and charities will also qualify
“This is about making sure people still get paid,” added Trudeau.
“If you work for a company that has been affected (by the pandemic), the government will cover up to 75 per cent of your wages.”
Trudeau, however, cautioned businesses by saying that the government is trusting them to “do the right thing” and asked them to top up the other 25 per cent of the wage if “they have the means.”
And he warned that if unscrupulous employers don’t play by the rules, there will be severe consequences.
Trudeau wasn’t able to elaborate on what those consequences were or how the government would know if a business was not “playing by the rules.”
“There will be more (information) on that tomorrow,” he added.
“For this to work, everyone has to do their part. You should do everything you can to top up their wages and re-hire those that were laid off.”
The prime minister said the government has been saving up for a “rainy day.”
“Well, it’s raining,” he said.
Asked how quickly the wage subsidy will be rolled out, Trudeau said it will be “soon.”
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