LATEST UPDATE REGARDING THE CONSTRUCTION INDUSTRY HERE ON PEI
UPDATED MARCH 27/2020 – 4:30PM
BUILDING PEI ONE DAY AT A TIME
Please see the attached letter from the Land Division regarding the issuance of Development Permits and the upcoming implementation of the National Building Code and the National Energy Code for Buildings
Up to $500/week for self-employed Islanders with a significant or total loss of income between March 16-31, 2020
$250 weekly allowance for workers with a significant reduction in hours but not laid off between March 16-31, 2020
Applications come from the employer and then can be distributed to staff through regular payroll.
$100 Sobeys Gift Card (electronic) for workers laid off between March 13-31, 2020.
Applications come from the employer and then can be distributed to workers.
Up to $100,000 in financing; 12 month deferral on payments; 4% for 5 years
There has been some federal news since our call that will likely be of interest. The question of wage subsidies was mentioned. The federal government announced today they will increase their 10% wage subsidy to 75% for “small businesses.” We don’t have much clarity on their definition of “small business” yet but I’m sure this is welcome news for many of you.
A couple of other federal measures announced today that I don’t have details for yet:
· A guarantee on bank loans of up to $40,000 for small businesses which will be interest-free for the first year. Under certain conditions, up to $10,000 of the loans could be non-repayable.
· GST and HST payments, as well as duties and taxes owed on imports, will be deferred until June.
Canada Emergency Response Benefit will be available to many/most who find themselves unable to work because of COVID-19. It will provide $2,000/month for up to four months (March 15 – October 3, 2020). Applications are anticipated to be available early April 2020.
I will attempt to try to provide emails out of a regular basis to help you all informed. As mentioned on the call, you can subscribe to the provincial news releases here: https://www.princeedwardisland.ca/en/service/subscribe-to-government-subscription-service
General Manager CAPEI
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