The federal government confirmed COVID-19 subsidies will extend until June 2021 at the very least
Prime Minister Justin Trudeau stated that the government will extend COVID-19 subsidies until June of 2021. The Canada Emergency Wage Subsidy and the Canada Emergency Rent Subsidy first appeared in October of last year. They replaced more direct assistance programs which ended in September 2020. And now, as the country yet to overcome the second wave of the pandemic, they might be as important as ever.
Both subsidies will continue to cover previous amounts. The wage subsidy will still cover 75 percent to eligible employers, with the rent subsidy also staying at 65 percent coverage. Nonetheless, such measures will provide a safety net to hundreds of thousands of Canadians. Trudeau reiterated his optimism in economic recovery. He said that there are already encouraging signs that the economy is rebounding. But support is still needed, especially as the federal government rolls out vaccines in the next, crucial months.
Justin Trudeau is also confident that the new Canada Foundation for Innovation will be able to kickstart new jobs. With over $500 million at its disposal, the Foundation aims to fund hundreds of researchers and their projects. Feds will therefore directly fund projects aiming to study viruses and providing vaccines. This is not necessarily to combat coronavirus but to create a reliable and efficient network of medical laboratory excellence in Canada.