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LIVE: Businesses now have to show 15 per cent drop in revenue for wage subsidy

Prime Minister Justin Trudeau announces loosened eligibility requirements for businesses applying for wage subsidy; Feds now covering all costs for Canada student job program

Update:

Prime Minister Justin Trudeau announced Wednesday that small businesses impacted by COVID-19 will now be required to show a 15 per cent drop in revenue during the month of March in order to qualify for the previously announced 75 per cent wage subsidy. 

Businesses will also have the option of using the months of January and February as a reference point in terms of showing a drop in revenue, and can also choose to either include or exclude the wage subsidy when calculating losses. 

Prior to Wednesday's announcement, businesses had to show a 30 per cent drop in revenue when compared to the same month of the previous year. 

The wage subsidy - which will provide eligible employers 75 per cent of wages to a maximum of $58,700 or $847 per week for up to 12 weeks - is retroactive to March 15. 

In other federal news, the Canada student jobs program will now cover 100 per cent of the costs associated with hiring students, with an option for students to be hired in a part-time capacity. 

Trudeau announced Wednesday that the federal government has received a shipment of 500,000 N95 masks from 3M. 

The masks are expected to be distributed to provinces soon. 

Original Story:

Prime Minister Justin Trudeau is scheduled to brief Canadians on COVID-19 at 1:00 p.m., in what has become his daily address from Rideau Cottage.

Village Media will carry the livestream.