$7.4B in new COVID-19 supports
This is in light of returned jobs (creation of 1,000,000 million job target), children are back in school and the economy is rebounding. The 4th wave is getting under control.
The government is extending the Canada Recovery Hiring Program until Nov. 20 and will increase the subsidy rate to 50 per cent. The government also plans to extend the program to May 7 through legislation. It will also seek authority to make further amendments to the programs through July 2.
The Hardest Hit Recovery Program will replace the current measures on October 24th for the hardest hit sectors (where help is still needed).
For employers: Wage and Rent subsidy (of 10% for a loss of 50% revenue and a 50% subsidy for businesses with 75% loss in revenue)
The Tourism and Hospitality Recovery Program will provide help through a wage and rent subsidy programs for hotels, tour operators, travel agencies and restaurants with a subsidy rate of up to 75 per cent.
A new lockdown support program is available in case of local lockdowns, activating the Wage and Rent subsidies for businesses affected by the local lockdowns if they prove necessary.
The government plans to introduce regulations to create the Canada Worker Lockdown Benefit to provide $300 a week to workers who are subject to a lockdown, including those ineligible for employment insurance. The program will be available until May 7, with retroactive applications starting Sunday.
ELIGIBILITY PERIOD AND CONDITIONS
Benefits will be available from October 24, 2021 to May7, 2022 with a decrease in benefits by half, from March 13, 2022 to May 7th, 2022, as the recovery is expected to take place.
Eligibility has 2 keys: 1) facing a significant revenue loss in 12 months of the pandemic. 2) revenue loss in the current month
Courtesy Global News