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Yesterday in his Throne Speech the Prime Minister announced the extension of the Canada Emergency Wage Subsidy (CEWS) through the summer of 2021. The program reimburses up to 75% of the salaries if your sales are down due to pandemic. This extension is important because it provides the funding option to those businesses that are not impacted by the pandemic yet, but may be impacted in months to come.
However, before the extension becomes a law it has to be passed by the Parliament. And last night the opposition leaders clearly demonstrated that it won’t be an easy vote. So be patient and stay tuned to our updates.
If you missed the speech and curious what else is there, check out this link.