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Decentralized Democracy

Member of Parliament

Richard Cannings

  • Member of Parliament
  • Member of Parliament
  • NDP
  • South Okanagan—West Kootenay
  • British Columbia
  • Voting Attendance: 61%
  • Expenses Last Quarter: $128,729.57

  • Government Page
Context: House Hansard - 258 - Nov/29/23
Mr. Richard Cannings
  • Nov/29/23 7:48:56 p.m.
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Madam Speaker, I recently asked the Parliamentary Budget Officer to calculate the cost or benefit to Canada of a one-year extension to the CEBA loan deadline. I knew there would be a financial cost for the government to carry $40 billion in loans for another year. The PBO said that it would be close to a billion dollars, but I also know that many businesses will go under if they do not get the extension. A recent CFIB survey found that 28% of businesses strongly question whether they could remain in business if they lose the forgivable portion of the CEBA loan. If those businesses go bankrupt, the government could lose over $10 billion in loans it cannot recover. Unfortunately, the PBO told me he could not use the CFIB data and could not find any other data to calculate that loss. However, even if only 10% of businesses go under, we would lose over $4 billion in unpaid loans. More importantly, we would lose tens of thousands of businesses and hundreds of thousands of jobs across this country.
180 words
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  • Rabble!
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Context: House Hansard - 246 - Nov/3/23
Mr. Richard Cannings (South Okanagan—West Kootenay, NDP)
  • Nov/3/23 11:46:30 a.m.
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Madam Speaker, small businesses need a real extension to repay the CEBA loans that they used to survive the pandemic. The Liberals' solution is an 18-day extension. That is a cruel insult to businesses in my riding, which are facing a perfect storm of postpandemic recovery, high inflation and, now, impacts from wildfires. The Penticton and Wine Country Chamber of Commerce is calling for action. Will the minister listen and give small businesses the one-year extension to the CEBA loan deadline that they need to survive?
88 words
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  • Rabble!
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