The Prime Minister describes the latest roll out of financial aid, this time for Canada’s largest employers, as a bridge loan not a bailout. And it is available only if they are unable to obtain financing through other means.

Justin Trudeau announced the Large Employer Emergency Financing Facility today in order ultimately, he says, to keep millions of Canadians employed.

The PM indicated it would be guided by several basic principles in addition to certain expectations of the companies which receive the financing: maintaining jobs and investment; respecting collective agreements and pension obligations; respecting environmental and climate commitments; companies must share with the federal government their complete financial structure.

And Justin Trudeau says there is another stipulation for companies which want to access this taxpayer funded financing for large employers.

“The money has to go to support those employers and not high-paid executives. That’s a condition that they will have to abide by if they want to access this financing.”

Trudeau also announced they are expanding the business credit availability program to keep small businesses solvent, to mid-size companies.

The Prime Minister closed his daily COVID-19 briefing by strongly urging Canadians, as the country works on re-opening the economy, to let caution and medical advice be their guides. He notes the country is not out of the woods yet and Canadians can’t squander the sacrifices made over the past two months so he says if you can stay home then do so, avoid gatherings, wash your hands frequently and thoroughly, and maintain social distancing guidelines.