Canada legislators approve proposal to expand emergency wage subsidy program

Credit: REUTERS/Carlos Osorio

OTTAWA, July 21 (Reuters) - Canada's House of Commons elected chamber on Tuesday voted to approve the expansion of an emergency wage subsidy program so all businesses suffering losses from the coronavirus outbreak will benefit.

Finance Minister Bill Morneau last week said Ottawa would drop a requirement stipulating businesses needed to show a 30% drop in revenue to be eligible.

The upper Senate chamber is set to give its final endorsement later on Tuesday.

Some firms had complained the eligibility rules were too onerous and could prevent them from fully reopening for fear they would lose access to the subsidy. The changes will come into effect in July and will run to Dec 19.

Canada has provided more than C$212 billion ($158 billion) in direct COVID-19 aid for those hit by the outbreak and nearly 14% of gross domestic product in total support.

($1=1.3454 Canadian dollars)

(Reporting by David Ljunggren; Editing by Tom Brown)

((; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.