Speech from the Throne: What health science companies need to know
Yesterday, the federal government’s Throne Speech featured a number of announcements about new or expanded supports for businesses, amid the broad impact of COVID-19 on the economy.
Central to the speech was the government’s announcement of a campaign to create over one million jobs.
Highlights of that campaign include extending key COVID-19 business support measures like:
Extending the Canada Emergency Wage Subsidy (CEWS) to next summer
Expand Canada Emergency Business Account (CEBA) loan program, which enables financial institutions to issue loans of up to $40,000
Improving the Business Credit Availability Program (BCAP), which lets companies borrow up to $6.5 million, backed by EDC, or up to $12.5 million funded by BDC
More specific information about program details and funding amounts will be announced as part of the fall fiscal update from Finance Minister Chrystia Freeland.
OBIO Members who are subscribers to The Logic can click here for more analysis on the Speech from the Throne.
