Federal government introduces the Canada Emergency Rent Subsidy

Federal government introduces the Canada Emergency Rent Subsidy
In a press conference this afternoon, Prime Minister Justin Trudeau announced a new round of COVID-19 financial relief in light of the pandemic’s second wave, beginning with the Canada Emergency Rent Subsidy, which replaces the Canada Emergency Commercial Rent Assistance.

“We are updating support for commercial rent and mortgage payments with the new Canada Emergency Rent Subsidy. This will provide support for businesses directly, not through landlords. For businesses who have seen their revenue drop, the new rent subsidy can support up to 65 per cent of eligible expenses, and up to 90 per cent for businesses temporarily shut down by a mandatory second wave public health order.”—Prime Minister Justin Trudeau

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