Canada expands wage subsidy well-liked by cannabis manufacturers

Canada’s government is expanding a wage-subsidy that is pandemic-related that has been tapped by more than a dozen federally regulated cannabis producers.

The Canada Emergency Wage Subsidy (CEWS) program, which subsidizes wages for employers that have lost revenue because of the crisis that is COVID-19 had been set to expire March 13.

The system is extended to June 5.

“Our company is expanding the Canada crisis Wage Subsidy together with Canada crisis lease Subsidy and lockdown support at their present amounts until June,” Prime Minister Justin Trudeau stated Wednesday.

To qualify for the CEWS system, businesses must show a drop in qualified income through the crisis in comparison to income from a previous duration.

Finance Minister Chrystia Freeland stated organizations may use revenue that is pre-pandemic when applying for the subsidy in the coming months.

The CEWS program has been utilized by most of Canada’s top cannabis producers, including Aphria, Aurora Cannabis, Canopy Growth and Tilray.

However, despite having access to the subsidy year that is last large cannabis manufacturers slashed a huge number of jobs.

Aurora Cannabis cut deeply into its workforce while getting 23.7 million dollars that are canadian$18.7 million) in federal government funds, as first reported by the world and Mail.

More information in regards to the CEWS system are present right here.

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