Canadian Securities Exchange Applauds Federal Government for Making Publicly-Traded Companies Eligible for the Canada Emergency Wage Subsidy
Toronto, Ontario--(Newsfile Corp. - April 2, 2020) - The Canadian Securities Exchange ("CSE" or "the Exchange") today applauded the Government of Canada for making the Canada Emergency Wage Subsidy available to all employers that suffer a drop in gross revenues of at least 30% in March, April or May compared to the same month in 2019.
The CSE views the 75% subsidy as a very strong response to the economic disruption caused by the COVID-19 pandemic. It will ensure that many Canadian jobs are protected that would otherwise be lost.
When the wage subsidy program was first announced in March, access was limited to private corporations. Accordingly, publicly-traded companies on the CSE and other domestic stock exchanges were excluded, despite the fact that their need to access the program was equally compelling. The CSE is grateful that these firms are now eligible for the subsidy if they have suffered the indicated revenue decline. This creates an even playing field for all Canadian businesses and will minimize job losses during the health crisis.
The CSE urges market participants to learn more about the Canada Emergency Wage Subsidy. Information is available here:
Richard Carleton, CEO