North Island – Powell River MP Rachel Blaney said the prime minister has just announced new measures to support small businesses through the COVID-19 crisis.
The measures include:
-
Adjusting the wage subsidy from 10 per cent to 75 per cent for small businesses to keep employees on the payroll during the downturn in business operations. This will be backdated to March 15.
-
A new loan program will be made available to small businesses. This will be an interest-free loan for six months of up to $40,000; $10,000 of that will be non-refundable for qualifying businesses. What businesses qualify will be announced in the coming days.
-
GST remittances are now on hold until June, to keep more cash within small businesses.
Blaney, in a media release, stated that she is glad to see these measures being announced.
"I and the entire NDP team have been calling for these measures to be implemented over the past weeks,” she stated. “I am happy to see the government taking our recommendations seriously, and even more happy for the small businesses in my riding who will now be able to keep their employees on the payroll and be ready to bounce back once we've weathered this crisis.
"Small businesses aren't just the backbone of the economy in our region, they're nearly the entire economy. North Island – Powell River residents are nothing if not resilient, and I know we will be back and better than ever at the end of these trying times."
Blaney stated a significant number of small businesses in the riding have been adapting to continue providing their services by delivery, and some have even shifted their production to necessary health products that are in short supply.
"It is the incredible sense of community that gives me hope right now,” stated Blaney. “Everyone is doing their best to take care of one another. If I have one thing to say to all of my constituents, it's please don't stop being the amazing people you are."
