Dear Members,
Today, the Deputy Prime Minister and Minister of Finance, Hon. Chrystia Freeland and the Hon. Carla Qualtrough, Minister of Employment, Workforce Development and Disability Inclusion, announced the extension of several COVID-19 support programs, including the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS). You can access the announcement by clicking here.
Key details include:
- The CEWS and CERS eligibility period has been extended until October 23, 2021.
- The maximum rate for the wage and rent subsidies would be set at 40 per cent in Period 20 (August 29 to September 25) instead of being reduced to 20 per cent, as announced in Budget 2021.
- A maximum rate of 20 per cent will be applied in Period 21 (September 26 to October 23)
- The Canada Recovery Benefit, the Canada Recovery Caregiving Benefit, and the Canada Recovery Sickness Benefit are also extended until October 23, 2021.
This is good news, as we have been calling for an extension of these critical support programs. While we welcome today’s announcements - which undoubtedly correspond with speculated election timing – and are happy to see the extension and rate freeze of these supports, this will not be enough to ensure the survival of our industry come the fall and winter. After 18 months of unprecedented losses in the industry, we will need a tailored solution for the hardest hit.
We continue to press Government and are working on a proposal to ensure continued survival funding for the sector. We will be sharing more details on this in the coming days. Meantime, please continue to meet with your Member of Parliament to help get our message across (guidance available here)! A strong grassroots push in the ridings will be critical to our success.
