World News

Canada to cover 75% of small business payroll wages: Trudeau

OTTAWA (Reuters) – Canada will cover 75% of payroll wages for small businesses and give those companies access to one-year interest free loans so they can avoid laying off employees, Canadian Prime Minister Justin Trudeau said on Friday.

Trudeau said the wage subsidy for small- and medium-sized businesses will be backdated to March 15, adding he hoped companies would rehire workers they had laid off.

(Reporting by Steve Scherer and Kelsey Johnson)