Senator Martin: In addition to higher costs caused by inflation and higher interest rates, the government will hurt small businesses by increasing energy costs and payroll taxes. It seems the government is either deaf to the demands of the business community or has no interest in helping small businesses.

Leader, why won’t the government cancel its planned hikes of carbon and payroll taxes that will hurt small businesses?

Hon. Yonah Martin (Deputy Leader of the Opposition): My question is for the Government Leader in the Senate.

Last week, the Senate Banking Committee heard from Kevin Page, the former Parliamentary Budget Officer, who told the committee that an expected winter recession will hurt small businesses significantly. In fact, the combination of three factors will hurt small businesses, the backbone of the Canadian economy: a recession, high interest rates and inflation. Those mean higher costs for businesses and less money for consumers.

Mr. Page confirmed this, saying:

. . . That will hurt small businesses significantly because, with these higher interest rates, people will not want to use credit to go out and spend.

This recession will be caused by high interest rates, which are the direct result of the reckless spending by the Liberals. Leader, what is the government’s plan to help small businesses that will suffer in 2023?