Trudeau releases more details on wage subsidy program
Businesses that have lost at least 30 percent of their revenue because of COVID-19 will be eligible for the federal government’s wage subsidy program.
Prime Minister Justin Trudeau provided some details on the program he announced last week.
The government will cover up to $847 per week per employee at qualifying businesses, charities, and non-profit organizations.
The number of employees will not be a factor for eligibility.
“If you have the means to pay the remaining 25 percent that is not covered by the subsidy please do so. If you think this is a system you can take advantage of or ‘game’…don’t.” he said. “There will be serious consequences for those who do. This unprecedented situation calls for unprecedented action and it calls for good faith and trust between everyone involved.”
When asked to elaborate on the consequences he said there would be more to say tomorrow.
When asked about detecting people misusing the system, Trudeau said a verification system will be set up in the coming weeks.
The subsidy will be backdated to March 15th.