Steven MacKinnon

The federal government has put together a $6.5 billion aid package and is making temporary changes to the employment insurance program to support Canadian businesses through the trade war with the United States. Ottawa’s new Trade Impact Program earmarks $5 billion over the next two years to help businesses cope with decreased U.S. sales and reach new global markets. It’s also making $500 million available for business loans of between $200,000 and $2 million at preferred interest rates, and another $1 billion for loans specifically for the agricultural sector. The government is also building new flexibility into the employment insurance program to help businesses retain workers by reducing work hours. “Employees can reduce their hours, spread the work across the same number of employees while compensating those employees through (employment insurance) for lost time or lost wages,” Employment Minister Steven MacKinnon said.