WINNIPEG, Manitoba (Reuters) - Canadian government and opposition legislators approved a wage subsidy worth C$73 billion ($52 billion) on Saturday to support the ravaged economy, in an emergency sitting in the House of Commons.
The subsidy covers 75% of a worker’s wages. Finance Minister Bill Morneau said the government may send payments within two to five weeks. The economy lost a record 1 million jobs last month.
As of Friday, more than 5.85 million Canadians had applied for federal emergency unemployment help since March 15, government data showed.
APT Price at posting:
$22.00 Sentiment: Buy Disclosure: Held
