Prime Minister Justin Trudeau on Friday unveiled a new plan to help businesses pay off amid a second wave of coronoviruses in Canada.
Canada will provide funds for emergency rent subsidy till 65% of rental or mortgage costs for businesses suffering revenue declines, depending on the scale of losses. Businesses forced to close due to local shutdown orders will get a 25% top up.
At a press conference in Ottawa, Finance Minister Christia Freeland said, “These measures are targeted to help those who need it.” The difficult reality is that we are looking to include Kovid-19 who Taking health measures means that there are some businesses that cannot run at full capacity. ”
The new fare subsidy will run until June 2021 and claims can be refunded on September 27. The government also announced that its salary grant program would be extended to June 2021, and said it would increase interest-free 50% of loans available to small businesses under the Canada Emergency Business Account.
Bloomberg reported Earlier this week the government was working on a new program to replace Canada’s Emergency Commercial Rental Assistance Program, which expired on 30 September. That program was distributed for less than $ 2 billion ($ 1.5 billion). Many businesses were not able to access the funding, as this required commercial landlords to apply on their behalf.
Case numbers have been rising in recent weeks, prompting some provinces to impose new restrictions on commerce.
Canada’s federal government on Friday announced C $ 41.4 million in new funding to regional airlines to support routes for remote communities, as well as $ 100 million for local food banks.
Is in canada 175,559 Kovid-19 cases were reported with 9,557 deaths.
(Updated story with details)