COVID-19 message to members: federal and provincial government updates for March 30

Dear Members,

Today, Monday, March 30, the federal government announced further details on its 75 per cent wage subsidy program:

• Businesses and non-profit organizations seeing a drop of at least 30 per cent in revenue due to COVID-19 will qualify.
• The government will cover up to 75 per cent of a salary on the first $58,700, or payments up to $847/week.
• Wage subsidies will be retroactive to March 15, 2020.
• More details are expected tomorrow, Tuesday, March 31.
• In case you missed it, view our webinar held today with MP Sean Casey and MP Sean Fraser, Parliamentary Secretary to the Minister of Finance, on federal government resources and supports for businesses during the COVID-19 crisis.

This evening, the provincial government announced:

• The Commercial Lease Rent Deferral Program to support small and medium-sized businesses that have closed due to the impacts of COVID-19.
• The Premier’s Economic Recovery Council, a strategic business working group for government to gain input, advice and discuss options as to how best to navigate our economy through these unprecedented times. I, Dawn, as your Chamber President am pleased to be part of this council and share your concerns and ideas for the future.
• PEI Sourced Solutions, an online portal to help Island residents and businesses meet the challenges of the pandemic, including the need for medical supplies, virtual care services, or to share ideas on how the province can help businesses and industries weather the impacts of COVID-19. This portal can be accessed starting tomorrow, March 31, at 8 AM.

As your Chamber, we are here for you and will continue to share relevant information as it becomes available. Please continue to reach out with your questions, comments and concerns.