The federal government has announced billions more dollars for businesses which it hopes will help keep people employed.

Prime Minister Justin Trudeau launched the Canada Emergency Business Account.

It provides: $40,000 loans to businesses guaranteed by the federal government. There will be no interest the first year, and $10,000 of it will be forgivable.

As well, small and medium-size businesses will get $2.5-billion to help with their cash flow. And, wage subsidies will be increased to 75 per cent to allow companies to keep their employees on. He encourages those who have already let employees go to hire them back.

GST and HST payments have been deferred until June.