The federal government has announced more details into the employee wage subsidy this afternoon (WEDS).
Finance minister Bill Morneau says the employee wage subsidy will be open to all businesses who lost at least 30 percent of their revenue as a result of the COVID-19 pandemic. The subsidy will help pay for 75 percent of impacted wages for those below the 58 thousand, 700 dollar threshhold.
Morneau says employers will need to show that they are doing what they can to pay the remaining 25 percent.
Morneau adds this program will cost the federal government 71 billion dollars. He adds the funding will be available in six weeks.
