By Greg Fry
Support for businesses

Trudeau announces subsidy for small businesses

Mar 27, 2020 | 8:28 AM

OTTAWA — The federal government has announced more financial assistance for small businesses hurt by the devastating effects of COVID-19.

Prime Minister Justin Trudeau says his government, which previously announced it would cover 10 per cent of worker wages, have upped that to 75 per cent.

“People will continue to be paid. We’ll keep workers on the payroll to help companies recover. The subsidy will be backed by us and be backdated to March 15.”

Trudeau also announced the government will launch a Canada Emergency Business Account.

Under the new plan, he says banks will offer $40,000 loans to qualifying businesses. He says the loans will be interest-free for the first year adding the loans will be backed by Ottawa.

DRIPA suspension
Private property concerns highlighted as province suspends parts of DRIPA
8h ago
Barry Seymour
Local First Nations leader will be missed
9h ago
Drought Conditions
Lowlands face drought despite snowpack
9h ago

Trudeau also announced the government will defer GST and HST payments due on imports until this June. He said this is the equivalent of a $30 billion subsidy for businesses.

“Our hope is businesses will think twice before laying off workers and if they’ve already been laid off, think about rehiring them.”

by Greg Fry

What's Trending

DRIPA suspension
Private property concerns highlighted as province suspends parts of DRIPA
8h ago
Barry Seymour
Local First Nations leader will be missed
9h ago
Drought Conditions
Lowlands face drought despite snowpack
9h ago
The stuff they learn here, they carry for life. Prince George swim coach hangs up his stopwatch after three decades
10h ago
Cougars
Cougars eliminate Chiefs in Game 6
Apr 06, 2026