(Image Credit: CFJC Today / Kent Simmonds)

By Dylana Kneeshaw

COVID-19 ECONOMIC RELIEF

Kamloops businesses showing keen interest in federal government wage subsidy program

Apr 27, 2020 | 4:34 PM

KAMLOOPS — Businesses in Canada were able to begin applying Monday (Apr. 27) to receive part of the federal government’s $73 billion wage subsidy program.

Qualifying companies will get a subsidy worth 75 per cent of each employee’s wages — up to $847 per week.

Thousands of businesses around the country applied this morning, and in Kamloops, Chamber of Commerce President Tyson Andrykew says the interest was high.

“The Chamber had sent out a weekly update this morning in an email. It had a variety of information and we send it out every week. And the one link about the wage subsidy obviously received a ton of click-throughs this morning, so businesses are keeping it top of mind and applying.”

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For some businesses that closed permanently, the subsidy comes too late. The Chamber of Commerce says while it is unfortunate, this pandemic is unprecedented, and governments have been figuring out responses and support programs as they go.

“With that, sadly there’s some delays that arise, and businesses that had to make some pretty rapid decisions before measures like this could be announced,” he notes. “My hope is that businesses will have the opportunity to re open, look at the measures that are out there, look at the programs and subsidies that are available.”

First payments are expected to arrive by the end of next week, and the hope is businesses will be able to afford to keep operating, and keep employees working.