44th Parl. 1st Sess.
November 16, 2022 02:00PM
- Nov/16/22 2:40:30 p.m.
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Mr. Speaker, I thank the member for his question. What we have heard from business groups in Canada, including the Canadian Federation of Independent Business, is that we have to support our small and medium-sized businesses.
In the fall economic statement, we announced plans to work on the credit card system to support small and medium-sized businesses by lowering credit card transaction fees charged by big institutions and big banks.
If we cannot negotiate a solution to this situation, we will introduce legislation. That is how we are supporting small and medium-sized businesses here in Canada.
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- Nov/16/22 2:41:10 p.m.
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Mr. Speaker, that is one thing the Canadian Federation of Independent Business is calling for, but there are other things as well. Are members aware that of the 4% of SMEs with an average debt of $150,000, 78% are experiencing persistent stress and 17% are thinking of closing permanently?
Small and medium-sized businesses are the heart of the Canadian economy, and they are clearly asking the Prime Minister to not increase Canada pension plan premiums and EI premiums, as well as other planned federal tax hikes.
Will the Prime Minister listen to Quebec entrepreneurs and businesses? Will he listen to them?
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- Nov/16/22 2:41:44 p.m.
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Mr. Speaker, what we are hearing about over and over again from small and medium-sized businesses is the issue of supply chains, which the member opposite mentioned. The Minister of Finance announced how we plan to address that in the fall economic statement. As she said, we will support our small and medium-sized businesses.
We will, for example, use an investment tax credit for clean technologies. We will also ensure that there are new sustainable jobs under the union training and innovation program.
The last part is critical to enterprises. What we are doing, by getting tough on share buybacks, is ensuring that people are supporting their employees and not their board of directors.
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Mr. Speaker, Quebec has given federally regulated businesses until December 1 to comply with the new Bill 101.
Unsurprisingly, Air Canada has not complied, and neither have CN, Via Rail and many others. They are waiting for Bill C‑13 to pass so they can be off the hook. That works out well. The Liberals and the NDP want to impose closure on Bill C‑13 to end the debate on December 1. What a coincidence. Michael Rousseau should buy a lottery ticket.
Seriously, why are the Liberals and the NDP scheming to allow these businesses to keep anglicizing Quebec?
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- Nov/16/22 3:14:30 p.m.
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Mr. Speaker, Izabela and many other parents from my riding are worried about the proliferation of illegal cannabis shops in our community, which specifically target children. They are selling copycat pot edibles that doctors say look like candy, but are poisoning kids.
I also recently met with the Cannabis Council of Canada. It feels that a lack of enforcement on the many regulatory rules that legitimate businesses must follow allow black market operators to flourish. The millions of dollars gained from illegal cannabis selling is known to be used to buy firearms and fund organized crime.
What is the government doing to stop these illegal pot shops?
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Madam Speaker, I thank my colleague for the question.
There is a balance to everything. There needs to be balance when it comes to taxes, both for individuals and businesses. However, let us not forget that businesses are wealth creators. Without businesses, there are no jobs.
We have to ensure that there is balance and no abuse. We also need to ensure that companies that make a profit reinvest in effective measures to build their business capacity while offering greener solutions for the environment.
Criteria need to be established and put in place. We cannot simply say that businesses are not paying enough taxes. There needs to be a balance. We need to see what we can do to make things better for businesses, individuals and the environment.
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- Nov/16/22 7:09:23 p.m.
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Madam Speaker, let me outline some of the measures that we are taking to address supports for restaurants and the tourism industry and in terms of addressing the inflation that is affecting all Canadians, including people outside Canada. It is, indeed, a global phenomenon.
We know that Canadians and Canadian businesses, along with those in countries around the world, are dealing with inflationary pressures and increasing interest rates. Things like high oil prices and global supply chain disruptions are leading to a scarcity of goods and to rising prices. Those are a serious concern for the member who raised this question, and they are a serious concern for the government.
We also understand the important role that restaurants play in communities from coast to coast to coast. In fact, we were there to support them through the pandemic and provided direct support to the hospitality and tourism industry. During the past two and a half years, our government introduced financial support for employees' wages, subsidies for rent, and loans to provide liquidity relief to ensure businesses' survival through the recovery period.
We took those actions because small businesses are indeed the heart of Canadian communities and the engine of Canada's economy. This was highlighted by the member for Spadina—Fort York. Small businesses contribute 55% of Canada's GDP and employ 10.8 million Canadians across the country. That is an astounding number, and that is why they deserve our support.
What budget 2022 outlined was a range of incentives to help small businesses remain strong through the economic uncertainty that was highlighted by the member who raised this question. We have cut the small business tax rate from 11% to 9%, which is essential to support businesses coming out of the pandemic. We are working to deliver lower credit card fees to reduce this burden on small businesses. We have stated quite clearly in the fall economic statement that if a negotiated solution is not reached, we will table legislation to regulate that sector and regulate those fees. We have also enhanced the small business financing program by increasing annual financing to small businesses by an estimated annual $560 million, helping businesses and their owners access liquidity for start-up costs and intangible assets.
Tourism is very vibrant in the riding of Spadina—Fort York. I know this quite well as the member for the riding just adjacent to Spadina—Fort York. We know that virtually all tourism businesses are small businesses themselves, and those tourism businesses employ two million people across this country. Hospitality and tourism is an inclusive industry that provides jobs and opportunities to newcomers, women, youth and indigenous people. These are specific groups that have experienced some of the worst impacts of the global pandemic.
We have been supporting these businesses in their efforts to strive for even greater inclusivity, with things like the women entrepreneurship program, the Black entrepreneurship program, and targeted supports for indigenous businesses. Returning to budget 2022, we outlined a proposal for $20 million over two years to support a new indigenous tourism fund to help indigenous tourism recover from the pandemic and position itself for long-term sustainable growth.
We also announced a commitment to develop a new federal tourism growth strategy focused on recovery and civility and growth in the long term. To further spur the recovery, jobs and growth of small businesses, we have launched the Canada digital adoption program. CDAP is a $4-billion program that will help restaurants grow their online presence and boost online ordering. These are targeted supports to help the small businesses that the member for Spadina—Fort York is outlining.
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