Canada’s government is expanding a wage-subsidy that is pandemic-related that has been tapped by more than a dozen federally regulated cannabis producers.
The Canada Emergency Wage Subsidy (CEWS) program, which subsidizes wages for employers that have lost revenue because of the crisis that is COVID-19 ended up being set to expire March 13.
The system was extended to June 5.
“Our company is expanding the Canada crisis Wage Subsidy while the Canada crisis lease Subsidy and lockdown support at their present amounts until June,” Prime Minister Justin Trudeau stated Wednesday.
To qualify for the CEWS system, businesses must show a drop in qualified income throughout the crisis in comparison to income from a previous duration.
Finance Minister Chrystia Freeland stated organizations may use revenue that is pre-pandemic when applying for the subsidy in the coming months.
However, despite having access to the subsidy year that is last big cannabis manufacturers slashed 1000s of jobs.
Aurora Cannabis cut deeply into its workforce while getting 23.7 million dollars that are canadian$18.7 million) in federal government funds, as first reported by the world and Mail.
More information in regards to the CEWS system is available right here.