Federal government announces expanded support for businesses.
Covid-19 has surged once again, causing stricter restrictions for businesses.
We want to make sure that our commercial insurance customers and business owners across the province are aware that the federal government temporarily expanded the lockdown supports from December 19, 2021, to February 12, 2022, for businesses facing a 50% capacity restriction to assist with wage and rent payments. This is great news for businesses who are still feeling the pressure and impacts of COVID related restrictions. We encourage our customers and business owners to explore their options and how they can take advantage of this expanded support.
Critical emergency lockdown support will help workers and businesses that work or do business in sectors effected by COVID-19, should the public health situation necessitate future lockdowns. This financial support is designed to help businesses who are facing these challenges:
- employers subject to capacity-limiting restrictions of 50 percent or more will be eligible for CEWS and CERS;
- the CEWS and CERS current-month revenue decline threshold requirement is reduced to 25 percent compared to 2019 revenue numbers,
- workers experiencing capacity-limiting restrictions of 50 percent or more will be eligible for the Canada Worker Lockdown Benefit.
These new changes are a welcomed relief to many of our hardest-hit businesses and those who they employ. These benefits will also provide:
- Expanded Canada Worker Lockdown Benefit to include workers where capacity restriction of 50% or more has been imposed.
- Workers are eligible if they are directly affected by COVID-19 capacity restrictions and have lost 50% or more of their income as a result.
- The benefit provides $300 per week in income support.
For more information, please visit the Canadian Federation of Independent Business by clicking https://www.cfib-fcei.ca/en/covid-19-faq-financial-support or visit the Government of Canada at https://www.canada.ca/en/department-finance/economic-response-plan.html.
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