Prime Minister Justin Trudeau. (File photo by THE CANADIAN PRESS)

Prime Minister Justin Trudeau. (File photo by THE CANADIAN PRESS)

Revenue dip needed to qualify for wage subsidy drops to 15% in March: Trudeau

Wage subsidy would be over 75% of each employee’s salary for qualifying businesses

Businesses hoping to qualify for the federal wage subsidy will only need to show a 15 per cent drop in revenues for March, Prime Minister Justin Trudeau said Wednesday (April 8).

The subsidy will still cover up to 75 per cent of each employee of a COVID-19 affected businesses, up to $847 per week.

The federal program has gone through a variety of changes since it was first announced several weeks ago; initially it was a 10 per cent subsidy for small businesses and then was expanded to be a 75 per cent subsidy for businesses of any size who could show a 30 per cent drop in revenue, compared to the same time last year.

Trudeau also said charities and non-profits can choose to exclude government funding if needed to prove a revenue drop.

Businesses need to survive and workers need to get paid if the economy is to “come roaring back after this crisis,” Trudeau said.

He also announced the federal government will cover 100 per cent of wages for students hired under the Canada Summer Jobs Program. The government will also extend the time period for job placements to the winter, in recognition that many jobs will start later than usual due to the pandemic, and companies will be permitted to hire students part-time.

The hope is this will encourage businesses to hire students to allow them to get the work experience they need and earn incomes during the downturn, Trudeau said.

“Today we’re taking a step in the right direction to help young people find work during this difficult time, but I want to be clear, we will be doing more,” he said.

“Just like we will do more for those who need help but are not eligible to receive the benefits that we have announced so far.”

READ MORE: Canada’s 75% wage subsidy is coming, but not for several weeks


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Pitt Meadows council has approved building a new RCMP detachment on Harris Road. (Special to The News)
Pitt Meadows council approves RCMP detachment at art gallery site

Building at Harris Road location would cost approximately $18.3 million

COVID-19. (Pixabay)
COVID-19 exposures at three Maple Ridge and Pitt Meadows schools

Virus at Meadowridge, Pitt Meadows secondary and Highland Park elementary

Dr. Sabrina Bhatti managed to keep her new dentistry practice open during a pandemic. (Special to The News)
Maple Ridge dentist battles through pandemic in first year of business

Dr. Sabrina Bhatti kept her new practice open for emergencies during worst months of COVID-19

Maple Ridge Secondary students Nana Yamamoto, left, and Tayah Bitter, center, along with teacher Maria Trudeau, organized a Mental Health and Wellness Week for the school. (Special to The News)
Maple Ridge high school promotes mental health during COVID

Maple Ridge Secondary will be holding a Mental Health and Wellness Week

Submit letters to the editor through our website, via email or in writing.
LETTER: Grieving Pitt Meadows mom shares insights into son’s overdose death

The War on Drugs has been a failure and society needs to tackle drug use differently, mother says

(The Canadian Press)
‘Worse than Sept. 11, SARS and financial crisis combined’: Tourism industry in crisis

Travel services saw the biggest drop in active businesses with 31 per cent fewer firms operating

Montreal Canadiens right wing Paul Byron (41) fights for control of the puck with Vancouver Canucks defenceman Quinn Hughes (43) during first period NHL action in Vancouver, Monday, March 8, 2021. THE CANADIAN PRESS/Jonathan Hayward
Captain Clutch: Horvat nets shootout winner as Canucks edge Habs 2-1

Vancouver, Montreal tangle again on Wednesday

A special committee has been appointed to look at reforming B.C.’s police act and is inviting the public to make submissions until April 30, 2021. (Black Press media file)
Have thoughts on B.C.’s review of the provincial Police Act?

Submissions will be accepted until April 30

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Cottonwoods Care Home in Kelowna. (Google Maps)
New COVID-19 outbreak at Kelowna care home includes fully vaccinated seniors: Henry

Two staff and 10 residents tested positive at Cottonwoods Care Centre

Excerpts from a conversation between Bria Fisher and the fake truLOCAL job. Fisher had signed a job agreement and was prepared to start work for what she thought was truLOCAL before she learned it was a scam. (Contributed)
B.C. woman warning others after losing $3,000 in job scam

Bria Fisher was hired by what she thought was a Canadian company, only to be out thousands

Some of the hundreds of pounds of trash removed by divers last month from Abbotsford’s Walmsley Lake.(Henry Wang photo)
VIDEO: Divers remove 462 pounds of trash from Abbotsford lake

Walmsley Lake dive uncovers several tires, hundreds of drink containers and a tent

Trent Miner is returning to the Vancouver Giants, the team announced. He has been released by the Colorado Eagles of the AHL.(Rik Fedyck/Vancouver Giants)
Trent Miner returns to play goal for Vancouver Giants

Netminder was part of epic 11-game winning-streak by Langley-based team

Most Read