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Canada to cover 75% of small business payroll wages: Trudeau

Published 03/27/2020, 11:47 AM
Updated 03/27/2020, 11:50 AM
© Reuters. Canada's Prime Minister Justin Trudeau speaks to news media outside his home in Ottawa

OTTAWA (Reuters) - Canada will cover 75% of payroll wages for small businesses and give those companies access to one-year interest free loans so they can avoid laying off employees, Canadian Prime Minister Justin Trudeau said on Friday.

© Reuters. Canada's Prime Minister Justin Trudeau speaks to news media outside his home in Ottawa

Trudeau said the wage subsidy for small- and medium-sized businesses will be backdated to March 15, adding he hoped companies would rehire workers they had laid off.

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