Federal Government Announces 75% Wage Subsidy for SMEs

March 27, 2020 – Prime Minister Trudeau has announced that the federal government will be increasing its wage subsidy for small and medium-sized business to 75% to avoid layoffs. It is especially encouraging to hear that this new wage subsidy will be backdated to March 15, which will allow some small business that have had to lay off staff, the ability to rehire them quickly. This will ensure that as many workers as possible remain connected to and paid by their employers by reducing the financial and mental stress on workers and ensure that Canada’s economic recovery will begin the day after this public health emergency comes to an end.