The Canadian government reported on Tuesday that nearly 44,000 businesses have applied for the Canada Emergency Wage Subsidy (CEWS) program to help them deal with the COVID-19 pandemic.
The emergency measure will cover 75% of wages for employers that have seen sharp declines in revenue since the novel coronavirus hit Canada hard in March, up to $847 per worker. Applications opened Monday morning and payments can be retroactive to the middle of March.
Trudeau said money under the program will start flowing by May 7. It may take longer for the money to arrive for companies that aren’t signed up for direct deposit with the Canada Revenue Agency.