Bloc Quebecois wants to expand wage subsidy to businesses
The Bloc Québécois is proposing to expand the 75% wage subsidy offered to businesses to help them get through the COVID-19 crisis.
In a letter sent to Prime Minister Justin Trudeau, the Bloc leader, Yves-François Blanchet, invited him to consider “adding a percentage to the wage subsidy” which would cover part of the fixed operating costs during the suspension of business activities.
“Indeed, Quebec and Canadian SMEs have to incur recurring expenses that the crisis has not stopped. This spending compromises the financial viability of many businesses, ”said Blanchet in writing.
In addition to the wage subsidy, the federal government has introduced the Emergency Account for Small Businesses and Non-Profit Organizations to help them cover their operating costs. Eligible organizations can obtain an interest-free loan of $ 40,000 – including $ 10,000 which may be non-repayable.
“The income that these industries, services and businesses lose during the crisis will generally not come back. It is therefore risky for these companies to replace liquidity generated by sales with liquidity obtained via credit “, notes Mr. Blanchet, who adds that this added burden when resuming activities can be” a real danger “.
A reduced parliament should be called again to adopt emergency measures for businesses. The wage subsidy program must be implemented within three to six weeks.