Prime Minister Justin Trudeau is revealing the details of a previously announced wage subsidy Monday morning.
Trudeau said the program will cover all businesses whose revenue has dropped by at least 30 percent because of economic fall outs due to COVID-19.
TUNE IN: I’m giving an update on the COVID-19 situation and talking about the benefits available to small business owners and entrepreneurs across the country. Watch my update here: https://t.co/nIBattq2IK
— Justin Trudeau (@JustinTrudeau) March 30, 2020
There is no restriction on the number of employees a company must have in order to qualify.
“The number of employees you have will not determine whether or not a business get this support,” Trudeau said Monday morning. “It will apply to non-profit organizations, and charities, as well as companies both big and small,” Trudeau added.
The government will cover 75 percent of salary on the first $58,700 a person earns.
