The federal government is spending $7.4 billion to extend and create new COVID-19 supports for hard hit businesses and workers that will replace the broad Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS), which expire this Saturday. The new Hardest Hit Business Recovery Program, Lockdown Support Program and the Canada Worker Lockdown Benefit will start on Sunday, October 24, 2021 and run until May 7, 2022.
“The Surrey Board of Trade wants the application process for the new Hardest Hit Business Recovery Program to be simple for business,” said Anita Huberman, President & CEO, Surrey Board of Trade. “We do agree that targeted supports are needed to ensure full economic recovery.”
- The Hardest Hit Business Recovery Program eligibility will be a two-key system: First, the government will consider whether an employer has faced significant revenue loss over the course of 12 months during the pandemic. The second key is revenue loss in the current month of application.
- A Lockdown Support Program has been created in case the pandemic requires further local lockdowns in parts of Canada. For those businesses that face lockdowns, the federal government will make the wage and rent subsidy available up to the maximum amount for the duration of the shutdown.
- Like the Canada Emergency Response Benefit, the new Canada Worker Lockdown Benefit would provide $300 a week to workers who are subject to a lockdown, including those ineligible for Employment Insurance.
- The government is extending the Canada Sickness Benefit and Canada Caregiving Benefit until May 7, 2022 and will increase the maximum duration of each benefit by two additional weeks.