While several existing federal COVID-19 support programs have now ended, the Government of Canada has proposed new, targeted programs to support hardest-hit businesses, including those in the tourism and hospitality sector.
As outlined in a corresponding news release, the proposed support will be available in two streams:
- Tourism and Hospitality Recovery Program, which would provide support through the wage and rent subsidy programs, to hotels, tour operators, travel agencies, and restaurants, with a subsidy rate of up to 75 per cent.
- Hardest-Hit Business Recovery Program, which would provide support through the wage and rent subsidy programs, would support other businesses that have faced deep losses, with a subsidy rate of up to 50 per cent.
Once approved, the proposed subsidy rates will be available to eligible businesses until March 13, 2022. From that date until May 7, 2022, the subsidy rates would be decreased by half.
In addition to the two new programs, the government has also proposed the introduction of a new Canada Worker Lockdown Benefit to support those who would be unable to work in event of a local lockdown. An extension of the Canada Recovery Hiring Program until May 7, 2022, along with an increase of its subsidy rate to 50 per cent, as well as extensions of the Canada Recovery Caregiving Benefit and the Canada Recovery Sickness Benefit have also been proposed.
Read the entire Government of Canada press release for more information on the proposed changes.
For additional information on available COVID-19 support programs, click here, or connect with the Thompson Okanagan Tourism Association (TOTA) who is providing one-on-one support for tourism businesses who have questions about available government support related to COVID-19.