In this week’s Speech from the Throne, Her Excellency the Right Honourable Julie Payette, Governor General of Canada, opened the second session of the 43rd Parliament and outlined the government’s agenda, which included extensions to both the Canada Emergency Wage Subsidy and the Canada Emergency Business Account programs.
Extension to the Canada Emergency Wage Subsidy (CEWS) program
While the throne speech did not mention if the eligibility or access rules would change, but Payette said the government will work with businesses and labour to ensure the program “meets the needs of the health and economic situation as it evolves.” Program eligibility has been confimed until Period 9 (November 2020), but based on the throne speech, it can be expected to be available in some form until Summer 2021.
Expansion of the Canada Emergency Business Account (CEBA) program
Her Excellency stated that the federal government would expand the Canada Emergency Business Account (CEBA) to:
- help businesses with fixed costs;
- improve the Business Credit Availability Program; and
- “(introduce) further support for industries that have been the hardest hit, including travel and tourism, hospitality, and cultural industries like the performing arts.”
To learn more about the loan program, visit our program overview.