44th Parl. 1st Sess.
January 29, 2024 11:00AM
SummarySpren for "Loans"
- • The government's economic statement does not provide enough urgent action to address the current economic challenges, particularly for small and medium-sized enterprises and the housing crisis.
• The Bloc Québécois has proposed solutions to address these issues, such as an emergency fund for homelessness and flexibility in the Canada Emergency Business Account, but the government has ignored these calls for action.
- • The federal government's inflexibility with the CEBA loans is leading SMEs into bankruptcy, with some losing their $20,000 subsidy since the January 18 deadline.
• The federal government can still help struggling businesses by letting them keep the $20,000 subsidy and guaranteeing their loan with their financial institution.
- • Small businesses have three years to repay their CEBA loans, and the deadline has been extended to support their post-pandemic recovery.
• The government is cutting taxes for growing small businesses and lowering credit card fees by up to a quarter.
- • Ms. Nathalie Sinclair-Desgagne (Terrebonne, BQ) criticized the government's approach to helping businesses affected by the pandemic, saying that the current plan is not enough and will lead to thousands of collection efforts.
• She suggested that the government should be more flexible and allow businesses to keep the $20,000 subsidy to help them stay afloat and reimburse their loans.
- • 80% of businesses have already reimbursed their loans in their entirety.
• The federal government invested in programs such as rent assistance and wage subsidies to help businesses during COVID-19.
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