Prime Minister Justin Trudeau unveiled the Canada Emergency Commercial Rent Assistance program, designed to reduce rent by 75 per cent for small businesses affected by the COVID-19 pandemic. Federal and provincial governments will cover 50 per cent, while landlords absorb 25 per cent.
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Speaking outside his Ottawa residence, Canadian Prime Minister Justin Trudeau said Wednesday that businesses facing a rent crunch will need to hold on through the COVID-19 pandemic and help with an eventual economic recovery, instead of closing up and slowing the rebound.
He said the government “really hopes” commercial landlords will apply for a federal program launching next week that would give companies a break on the rent, warning that they may find themselves out of cash in the future if they evict tenants now.
Prime Minister Justin Trudeau today announced a new rent subsidy program to help businesses forced to shut down due to the global pandemic, as some provinces begin to lay out plans to reopen their economies.
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After physical distancing measures leave many Canadians without a job, advocates push government and landlords to help tenants unable to pay their rent.
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Calls for the government to step in and assist renters pay their rent and investors pay their mortgages increase as more stores close and jobs are slashed Subscribe: https://bit.ly/2noaGhv Get more breaking news at: https://bit.ly/2nobVgF
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Knocking on Strangers Doors in The Hood, Then Paying Their Rent
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