Apr 1, 2020 8:14 PM -
Finance Minister Bill Morneau says wage subsidies for large and small businesses will cost about $71 billion.
The program is expected to offset the cost of emergency benefits for workers, and reduce spending on those benefits to $24 billion.
The wage subsidy will be available to large and small businesses who have lost significant revenue due to COVID-19.
Morneau has encouraged businesses to rehire employees they may have laid off in the wake of COVID-19, and says the wage subsidy will be available in six weeks.