Prime Minister Justin Trudeau announced a three-month extension of the Canada Emergency Wage Subsidy Friday.
Under the program, the federal government is currently picking up the tab for 75 per cent of an eligible company's payroll, up to a maximum of $847 per week per employee.
Trudeau says the federal government will be working with business stakeholders and workers over the next month in order to assess the wage subsidy program for potential adjustments, including modifications to the elgibility threshold for businesses.
The $73-billion wage subsidy program was initially slated to run until June 6.
Trudeau also announced $450 million in financial aid for researchers and research institutions Friday, in an effort to provide temporary wage support for researchers.
Although the federal government is asking Canadians to file tax returns by the June 1 deadline, the prime minister says those receiving the Canadian Child Benefit and GST/HST benefits will continue to receive those benefits until September if the tax return deadline is missed.
- with files from The Canadian Press
Prime Minister Justin Trudeau is slated to provide his daily COVID-19 update at 11:15 a.m. today in Ottawa.
Trudeau is expected to announce an extension to the federal government's 75 per cent emergency wave subsidy. The $73-billion wage subsidy program initially started on March 15 and was to expire June 6.
The extension Trudeau will announce today is expected to last for at least another month.
He is also expected to announce financial support for medical researchers whose work is unrelated to COVID-19.
Village Media will carry the livestream, so stay tuned.