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LIVE: Federal government increases COVID-19 wage subsidy to 75 per cent

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Prime Minister Justin Trudeau announced that wage subsidies for qualifying businesses struggling with COVID-19 have been increased to 75 per cent.

Trudeau said the measure is meant to ensure "workers are supported and the economy is positioned to recover," while businesses slow down or stop.

The subsidy will be retroactive to March 15. Trudeau said further details will be released soon.

He said the unprecedented measure is meant to encourage employers to continue their relationships with employees during the "coming months" of restricted activity.

The Prime Minister said he hopes hopes that employers feeling pushed toward layoffs will reconsider, and that those who have laid off staff will consider rehiring.

For small storefront business, the government is also working with banks to provide $40,000 loans guaranteed by the government. The loans will be interest-free for a year and if certain conditions are met, $10,000 will be forgiveable.

Also, GST, HST and certain duties and taxes paid on imports will not be due until June.

Trudeau said for youth, marginalized Canadians, and people who live in poverty he will have "more news to share with you very soon"

Original story:

Prime Minister Justin Trudeau will hold his daily briefing outside Rideau Cottage at 11:15.

Village Media will carry the PM's livestream