Finance Minister Bill Morneau is proposing sweeping changes to the federal pandemic wage subsidy that would extend the program until the end of the year and open it up to more businesses. Previously, the wage subsidy covered 75 per cent of the wages of workers at companies and non-profits that had experienced a 30 per cent drop in revenue. WATCH: Finance minister announces changes to wage subsidy programThe federal government's wage subsidy program will be extended until December. As of July 13, the wage subsidy had paid out $20.3 billion to 262,200 companies. In a "fiscal snapshot" released last week, Morneau revealed the amount budgeted for the wage subsidy program has increased to $82.3 billion from $45 billion.

Source: CBC News July 17, 2020 17:41 UTC