COVID-19 Update for April 1, 2020 – 12:00pm
In his daily briefing, Prime Minister Justin Trudeau provided more details on Canada’s economic stimulus plan to help Canadians and Canadian businesses.
Canada Emergency Wage Subsidy (CEWG)
Trudeau kept tight-lipped on details surround the CEWG, noting that Finance Minister Bill Morneau, Minister of Small Business, Export Promotion and International Trade Mary Ng and Minister of Innovation, Science and Industry Navdeep Bains will hold a press conference later this afternoon on the subsidy. Enterprise will be covering the conference and will provide a summary of the details released.
The PM took a moment to address business owners directly, saying that, “this money is for workers” and promised stiff and severe penalties for those trying to take advantage of the program. Employers who sign up for the subsidy will need to attest that they are doing everything they can to pay the remaining 25 per cent of their employees’ salaries.
Team Canada Effort
The PM called the federal government’s measures to-date the largest economic program in Canadian history and, as a result, has asked the House Leader and the Deputy Minister to reach out to other parties and bring back Parliament. The government’s decision to recall Parliament was likely triggered by the expansion of the CEWG program; which has grown from 10% to 75% of salary coverage.
If you have any questions about this update, please let us know.
The Enterprise Team