Large corporations in Canada collected an average of a quarter-million dollars in pandemic relief, says Blacklock’s Reporter..And applicants had a 99% chance of being approved under a program Finance Minister Chrystia Freeland called essential to recovery, Canada Revenue Agency documents reveal..“That program has been an essential part of our federal government’s work during this unprecedented pandemic,” Freeland earlier told the Commons..Freeland at various times credited the subsidy with saving “more than 3.9 million jobs” (on December 10, 2020), “helping more than four million jobs” (January 28, 2021), “5.3 million jobs” (May 26, 2021), and “more than 5.3 million jobs” (May 26, 2021)..The Revenue Agency in an Inquiry Of Ministry tabled in the Commons said a total 413,600 incorporated businesses applied for wage subsidies. Of those, fewer than 1%, a total 3,450 applications, were rejected..The Canada Emergency Wage Subsidy ran from March 15, 2020 to last October 23 as one of the first and most costly pandemic relief programs passed by Parliament. Subsidies totalled $100 billion. Payouts to corporations averaged $226,162 said the Inquiry..“That has been one of the most important measures, which has led to a much stronger jobs recovery in Canada than, for example, in the United States,” said Freeland..An additional 20,830 sole proprietorships applied for wage subsidies. All but 5,120 were approved, wrote staff. Payouts averaged $37,522..Large corporations accounted for a disproportionate share of successful applications, according to a February 23 Statistics Canada report..“The smallest businesses have the lowest usage rates,” wrote analysts..Only 29% of small operators with fewer than five employees received subsidies under the program, StatsCan said..A total of 13% of small businesses closed..By comparison, 61% of large corporations with more than 100 employees received subsidies. Only 2% of them closed..Prime Minister Justin Trudeau at the time said cabinet did not want to disqualify large businesses..“We have always been grounded in help for workers,” Trudeau told reporters..“We didn’t want to judge.”
Large corporations in Canada collected an average of a quarter-million dollars in pandemic relief, says Blacklock’s Reporter..And applicants had a 99% chance of being approved under a program Finance Minister Chrystia Freeland called essential to recovery, Canada Revenue Agency documents reveal..“That program has been an essential part of our federal government’s work during this unprecedented pandemic,” Freeland earlier told the Commons..Freeland at various times credited the subsidy with saving “more than 3.9 million jobs” (on December 10, 2020), “helping more than four million jobs” (January 28, 2021), “5.3 million jobs” (May 26, 2021), and “more than 5.3 million jobs” (May 26, 2021)..The Revenue Agency in an Inquiry Of Ministry tabled in the Commons said a total 413,600 incorporated businesses applied for wage subsidies. Of those, fewer than 1%, a total 3,450 applications, were rejected..The Canada Emergency Wage Subsidy ran from March 15, 2020 to last October 23 as one of the first and most costly pandemic relief programs passed by Parliament. Subsidies totalled $100 billion. Payouts to corporations averaged $226,162 said the Inquiry..“That has been one of the most important measures, which has led to a much stronger jobs recovery in Canada than, for example, in the United States,” said Freeland..An additional 20,830 sole proprietorships applied for wage subsidies. All but 5,120 were approved, wrote staff. Payouts averaged $37,522..Large corporations accounted for a disproportionate share of successful applications, according to a February 23 Statistics Canada report..“The smallest businesses have the lowest usage rates,” wrote analysts..Only 29% of small operators with fewer than five employees received subsidies under the program, StatsCan said..A total of 13% of small businesses closed..By comparison, 61% of large corporations with more than 100 employees received subsidies. Only 2% of them closed..Prime Minister Justin Trudeau at the time said cabinet did not want to disqualify large businesses..“We have always been grounded in help for workers,” Trudeau told reporters..“We didn’t want to judge.”
