Wage Subsidy Program Changes
The Prime Minister announced a few tweaks to the wage subsidy program which the opposition is currently reviewing prior to parliament resuming to pass the legislation:
- The first is that revenue for March will only have to had drop by 15% from the previous year rather than 30%.
- They can also use January and February of this year as reference points to demonstrate revenue loss.
- Charities and non-profits can include or exclude government funding when calculating revenue loss.
- The government will give up to $847 a week per employee retroactive to March 15.
- Companies will be allowed to use a cash accounting method instead of accrual accounting method.
Further, he announced that cabinet is looking at solutions for those who have lost significant income but are not technically unemployed such as gig workers. Cabinet will also be exploring how to help seniors who have seen a significant loss of retirement savings due to market volatility.
Canada Summer Jobs Program
The Prime Minister announced some temporary changes to the Canada Summer Jobs program to help students secure employment including:
- An increase to the wage subsidy, so that private and public sector employers can also receive up to 100 per cent of the provincial or territorial minimum hourly wage for each employee.
- An extension to the end date for employment to February 28, 2021.
- Allowing employers to adapt their projects and job activities to support essential services.
- Allowing employers to hire staff on a part-time basis.