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What you need to know about the new COVID-19 emergency wage subsidy

Ottawa to offer a 75 per cent wage subsidy to all businesses that have lost 30 per cent of their revenue

Finance Minister Bill Morneau announced Wednesday a plan to backstop much of the Canadian economy through wage subsidies to prop up struggling businesses — and the workers they employ — during the COVID-19 crisis.

The wage support program, called the Canada emergency wage subsidy (CEWS), is designed to discourage companies from laying off workers at a time when social and economic life has ground to a halt, crippling nearly every industry and pushing millions onto government income replacement programs.

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Source: CBC News

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