The first program, the Canada emergency wage subsidy, the 10% one, applies to all small businesses, at least those businesses eligible for the small business deduction, as well as charities and non-profit organizations. All of those businesses are eligible for it. The mechanism of how that works is they deduct that 10% from the amounts they would otherwise remit to the Canada Revenue Agency on account of their employees' tax. Let's just say, it's targeted at small businesses regardless of whether or not they suffered a decline in revenues, but to help them manage in this unprecedented crisis.
The 75% wage subsidy applies only to those firms that have suffered a 15% reduction in revenues from March 2019 to March 2020, or 30% in April. It's targeted at those corporations regardless of their size, and charities and non-profits that have been specifically affected. One is offset by the other, so the maximum is 75%. If a small business is eligible for the 10% and the 75%, then the maximum is the 75%. They complement each other, but they are applied to different populations.
A projection of the cost estimate of the 75% wage subsidy is $73 billion over the course of the subsidy. We would reduce the estimate for the 10% wage subsidy when [Technical Difficulty—Editor].