Saturday, July 5, 2025

Latest

Canadian Federal Government Extends Wage Subsidy to December

As many Canadians return to work following the easing of restrictions across the country, the federal government has decided to extend the duration of its wage subsidy program to December.

On Monday, Prime Minister Justin Trudeau announced the federal government’s extension of the wage-subsidy program, after boosting its budget to $82.3 billion last week. The wage subsidy program covers up to 75% of an employee’s wages, up to a maximum of $847 per week for companies and non-profits which meet the eligibility criteria.

Initially, the wage subsidy program was rolled out in order to mitigate the economic fallout faced by many Canadian businesses amid the mandatory shutdowns stemming from the coronavirus pandemic. However, more Canadians opted for the Canada Emergency Response Benefit (CERB) instead, and the demand for the wage subsidy program declined as a result.

As of July 5, the CERB has paid out nearly $54.8 billion to 8.25 million eligible Canadians, with the budget being boosted to $80 billion. Given that the CERB is slated for phase-out by the fall, the wage subsidy program will likely see an increase in applications as many Canadians are looking to return to work, according to Finance Minister Bill Morneau.

Information for this briefing was found via Bloomberg and Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Bank of Canada Sees It’s Balance Sheet Balloon To Over Half A Trillion

The Bank of Canada this morning filed with Statistics Canada its latest balance sheet data,...

Tuesday, August 4, 2020, 11:29:35 AM

Canada’s Federal Government Allocates $3.3 Billion Towards Pandemic Resistant Infrastructure

The Liberal government has made available a total of $3.3 billion in funds for provinces...

Wednesday, August 5, 2020, 05:57:03 PM

American Airlines Receives $5.5 Billion Taxpayer-Funded Loan from US Treasury as Air Travel Demand Remains Subdued

It appears that more government bailouts are en route for embattled airline companies, as the...

Sunday, September 27, 2020, 03:39:00 PM

Biden Administration Proposes $1.52 Trillion Budget to Address Inequality, Climate Change

In a broader attempt to redefine the federal government’s role in America, the Biden administration...

Sunday, April 11, 2021, 04:17:00 PM

Federal and Ontario Governments Commit $2 Billion Towards EV Mass Production at Ford Oakville Plant

It appears that the federal government has given a boost to Canada’s economic recovery by...

Thursday, October 8, 2020, 11:49:42 AM