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Nov 2, 2021
COVID-19 Update - November 2, 2021
Federal Government Announces Targeted COVID-19 Support Measures
Recently, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the government is taking targeted action to create jobs and spur economic growth. This includes moving from the very broad-based support that was appropriate at the height of lockdowns to more targeted measures that will provide help where it is needed, while prudently managing government spending.
The government is proposing the following changes:
- Extend the Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10 per cent and increase the subsidy rate to 50 per cent.
- Deliver targeted support to businesses that are still facing significant pandemic-related challenges. Support would be available through two streams:
- Tourism and Hospitality Recovery Program, which would provide support through the wage and rent subsidy programs, to hotels, tour operators, travel agencies, and restaurants, with a subsidy rate of up to 75 per cent.
- Hardest-Hit Business Recovery Program, which would provide support through the wage and rent subsidy