Friday, January 29, 2021
On January 28 2021, the European Commission (Commission) amended its COVID-19 Temporary State aid Framework (Temporary Framework) for the fifth time. The Commission adopted the Temporary Framework at the beginning of the COVID-19 crisis (March 19 2020) to support the economy and help Member States set up various aid measures. Since the adoption of the Temporary Framework, the Commission has approved hundreds of national COVID-19 support measures.
Given that the COVID-19 crisis continues to affect the European economy, the European Commission adopted a fifth Amendment to the Temporary Framework, which includes the following changes:
Extension of the Temporary Framework until December 31 2021;
Higher aid ceilings regarding limited amounts of aid and support for uncovered fixed costs;
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Sean Kilpatrick/The Canadian Press
More than 100 licensed cannabis companies and their subsidiaries have received tens of millions of dollars in payments from the Canada Emergency Wage Subsidy program, raising new questions about the policy intentions of the program and whether it meant to subsidize a sector that was already in the throes of consolidation.
A Globe and Mail analysis of company filings and publicly available data from the CEWS registry shows at least 20 publicly traded cannabis companies cumulatively collected more than $40-million in CEWS payments, while dozens of others received the subsidy but chose not to disclose the amount in their financial filings.
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Thousands of companies that are part of large corporate groups with deep pockets have tapped into the Canada Emergency Wage Subsidy program, demonstrating that the coronavirus aid program is poorly targeted and has spent billions of dollars unnecessarily, says an analysis of recipient data.
The federal government has pointed to the CEWS program as a keystone in its effort to buoy employment during the pandemic, saying it preserves the connections between workers and their employers, and minimizes economic disruption.
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