Canada Wage Subsidy Special Report
Emergency Economic Packages to Bolster Struggling BusinessesAnd Keep Employees on Payrolls
New policies offer relief for workers and business owners. In response to the severe economic impact of the COVID-19 pandemic, the government has rapidly implemented a series of emergency programs to help companies and their employees through the rapid economic slide. The Canada Emergency Wage Subsidy and Canada Emergency Business Account will be vital over the coming weeks in shoring up businesses to maintain operations and keep workers on payrolls, reinforcing the economy. Many of the nation’s small and medium-sized enterprises have had to close doors, impacting cash flow and businesses’ ability to pay April bills, including rent or mortgage payments. The loans and subsidies provided through the emergency government policies offer a buffer to many companies affected by COVID-19, while also supporting property owners faced with a growing risk of tenant defaults.