Nearly 10,000 businesses apply for wage subsidy in first hours : Trudeau

Prime Minister Justin Trudeau says nearly 10,000 businesses have applied for the federal government's wage-subsidy program to help them deal with the COVID-19 pandemic.

The emergency measure will cover 75 percent of wages for employers that have seen sharp declines in revenue since the novel coronavirus hit Canada hard in March, up to $847 per worker.

Applications opened early this morning and payments can be retroactive to the middle of March.

Trudeau says money under the program will start flowing by May 7.

It may take longer for the money to arrive for companies that aren't signed up for direct deposit with the Canada Revenue Agency.

Officials have been unable to say how many workers currently receiving the Canada Emergency Response Benefit may be rehired through the wage subsidy, but Trudeau is reminding workers they can't receive financial help from both programs at the same time.