March 27, 2020 / 3:49 PM / 2 months ago

Canada to cover 75% of small business payroll wages: Trudeau

Canada's Prime Minister Justin Trudeau attends a news conference at Rideau Cottage as efforts continue to help slow the spread of coronavirus disease (COVID-19) in Ottawa, Ontario, Canada March 27, 2020. REUTERS/Blair Gable

OTTAWA (Reuters) - Canada will cover 75% of payroll wages for small businesses and give those companies access to one-year interest free loans so they can avoid laying off employees, Canadian Prime Minister Justin Trudeau said on Friday.

Trudeau said the wage subsidy for small- and medium-sized businesses will be backdated to March 15, adding he hoped companies would rehire workers they had laid off.

Reporting by Steve Scherer and Kelsey Johnson

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