Jul 20, 2020, 10:31 AM by Mortgage Professionals Canada

Changes to the CEWS program to provide more employers with access to subsidy funds.

Finance Minister Bill Morneau has proposed changes to the CEWS program to provide more employers with access to the funds who are impacted by COVID-19.

The program was open to businesses and non-profits that saw a revenue drop of at least 30%. However, the proposed changes will open up the subsidy to "employers with a revenue decline of less than [30%]" and provide a "gradually decreasing base subsidy" to those who qualify.  

In addition to broadening the reach of the program, the government will also provide a "top-up subsidy of up to an additional [25%] for employers that have been most adversely affected by the pandemic".

"The adjustments we are proposing would ensure that the CEWS continues to address Canadians’ needs while also positioning them for growth as economies continue to gradually and safely reopen", said Morneau.

Complete details can be found within the Government of Canada's official announcement HERE.

In a previous announcement, the wage subsidy program was extended until December 19.