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House Hansard - 275

44th Parl. 1st Sess.
February 5, 2024 11:00AM
Context: House Hansard - 275 - Feb/5/24
Mr. Jean-Denis Garon (Mirabel, BQ)
  • Feb/5/24 2:37:39 p.m.
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Mr. Speaker, there was a 41% increase in business bankruptcies last year, and 61% of those are in Quebec. It is the highest increase ever recorded. It is in that context that the federal government set the January 18 deadline for SMEs to pay back the emergency business account loan without penalty. In a Radio-Canada news report, trustee Stéphane Leblond warned that insolvency cases have been on the rise for the past month. Of course the Liberals just added $20,000 of debt to the SMEs most at risk. Why not show these businesses some flexibility instead of continuing to kick them while they are down?
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Context: House Hansard - 275 - Feb/5/24
Hon. Rechie Valdez (Minister of Small Business, Lib.)
  • Feb/5/24 2:38:18 p.m.
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Mr. Speaker, the purpose of the Canada emergency business account, or CEBA, was to help keep businesses afloat during the pandemic and give them some room to recover. Nearly 80% of small businesses have paid back the CEBA loan and were able to take advantage of the refundable portion of the loan. We are also reducing credit card transaction fees by up to a quarter to help small businesses keep more money in their pockets.
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Context: House Hansard - 275 - Feb/5/24
Hon. Soraya Martinez Ferrada (Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, Lib.)
  • Feb/5/24 2:39:42 p.m.
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Mr. Speaker, I thank my colleague for her question. I would like to remind her that this was not the first but the second extension that we gave to all businesses, and that there is no business that cannot get support from the government. If they cannot pay back their loan, we will guarantee that loan for three years at an interest rate of 5%, which means that they have to reimburse about $250 a month. Not only that, but Canada Economic Development is looking to the future. I just made announcements in Drummondville, Sherbrooke and a number of regions in Quebec. We will continue to support businesses in making the much-needed green transition.
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Context: House Hansard - 275 - Feb/5/24
Hon. Soraya Martinez Ferrada (Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, Lib.)
  • Feb/5/24 2:41:07 p.m.
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Mr. Speaker, once again, if the government had not been there to support them in the first place, these businesses would not have weathered the biggest pandemic crisis this country has ever known. It is now time to look to the future. We need to support companies in meeting the challenges of the future. What are the challenges of the future? It is all about starting the energy transition and improving productivity to counter labour shortages. That is exactly what we are going to do on this side of the House. We will continue to support all businesses.
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