Trudeau Government Announces New Measures to Help Small Businesses

written by

Energy Team

This morning, the Prime Minister announced additional measures to support small businesses during the COVID-19 crisis. The Prime Minister indicated that the details of these new measures are being finalized, and will become available between today and Monday, March 30.

These measures come on the same day that the Bank of Canada cut its benchmark interest rates by 50 basis points to 0.25%.

Actions include:

Increasing wage subsidy to 75% from the initial 10% for qualifying SME businesses. The subsidy will be backdated to Sunday, March 15.
Through a new Canada Emergency Business Account, banks will offer $40,000 loans to small businesses, interest free for the first year, and $10,000 will be forgivable for qualifying businesses.
$12.5 billion in additional loans through the Business Development Bank of Canada (BDC) and Export Development Canada.
Defer all HST/GST on import / export duties until June.

As this situation continues to evolve, we will keep you updated. For more detail, please reach out to your Sussex representative directly or to the Federal Government Relations Team.

No items found.

September 1, 2026

Quebec Election 2026: Change Started the Race, but Economic Leadership May Now Decide It

Earlier this year, the dominant political force in Quebec was a desire for change after eight years of Coalition Avenir Québec (CAQ) government. Today, however, the political environment has been transformed by escalating tensions with the United States, tariff uncertainty and broader concerns about economic security and political leadership.

September 1, 2026

Canada's Resource Advantage Is Only the Beginning

As Canada heads into a consequential fall, questions around trade, economic security and our relationship with the United States are taking on new urgency. Critical minerals offer an important window into what comes next. Even as Canada navigates one of the most difficult periods in its trading relationship with the U.S. in decades, the U.S. government continues to invest directly in Canadian critical mineral projects.

September 1, 2026

The U.S. Midterms Are Coming. Canada Is Already on the Ballot.

The 2026 U.S. midterm elections are increasingly shaping up as a referendum on the Trump Administration's economic agenda, and Canada is shaping up to be an integral part of that debate. While President Trump is not on the ballot this November, he remains the dominant political figure in the election, and current polling shows him running behind broader Republican support.

view all

RECENT POSTS

Quebec Election 2026: Change Started the Race, but Economic Leadership May Now Decide It

Canada's Resource Advantage Is Only the Beginning

The U.S. Midterms Are Coming. Canada Is Already on the Ballot.