The federal government is preparing to cover 75 percent of the wages of qualifying small and medium-sized businesses for three months, as well as extending these companies interest-free loans.
Prime Minister Justin Trudeau announced the measures at his Friday press conference in Ottawa, saying his government had decided to improve on a previous pledge to provide 10 percent of SMEs’ wages during the Covid-19 crisis.
“It’s becoming clear that we need to do more — much more — so we’re bringing that percentage up to 75 per cent for qualifying businesses,” said Trudeau. “This means people will