COVID -19 Federal Government Support Measures
Posted on October 22, 2021 in Business
October 21, 2021, the Deputy Prime Minister and Minister of Finance launched new measures to help create jobs and grow the economy as we slowly come out of the pandemic. Each of the programs will be available until May 7, 2022.
Tourism and Hospitality Recovery Program
The Tourism and hospitality recovery program was created to support hotels, restaurants and travel agencies with wage and rent subsidies of up to 75 per cent until May 2022.
Hardest-Hit Business Recovery Program
This program aims to provide wage and rent subsidies of up to 50 percent to businesses with deep losses. This program will be available until May 7, 2022.
Businesses that choose to apply for either of the two programs listed above will be required to use a new “two key” eligibility system whereby they will be required to provide significant revenue losses over the course of 12 months and revenue losses in the current month.
Lockdown Recovery Programs
Canada Worker Lockdown Benefit
The Federal government announced the launch of the “Canada Worker Lockdown Benefit,” identical to the Canada Emergency Response Benefit announced last year. Individuals eligible for Canada Worker Lockdown Benefit will receive a sum of $300 per week subject to provincial lockdowns, including those ineligible for EI. This program is available until May 7, 2022.
In addition, the government announced the extension of the Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10 per cent and increased the subsidy rate to 50 per cent. This program aims to help businesses to continue hiring workers and creating more jobs
For more information on the new COVID-19 supports, click here.