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Canada extends pandemic wage and rent subsidies until Oct 23

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There will be an election before then

Freeland

Canadian finance minister Freeland says the government will extend wage and rent subsidies until October 23.

“These subsidies have been a lifeline” for thousands of businesses and workers, she said.

The Canada recovery benefits (CRB) are also extended until Oct 23 at current rates.

The Liberals are gearing up to call an election at any moment and they don’t want these benefits to expire during the campaign.

In terms of markets, this should be a tailwind that extends until then, though it could add more wage inflation as it keeps workers out of the workforce.

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