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Decentralized Democracy

House Hansard - 245

44th Parl. 1st Sess.
November 2, 2023 10:00AM
Context: House Hansard - 245 - Nov/2/23
Ms. Nathalie Sinclair-Desgagné (Terrebonne, BQ)
  • Nov/2/23 3:00:21 p.m.
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Mr. Speaker, the Canadian Federation of Independent Business has been warning us since June that hundreds of thousands of business could go bankrupt. The CFIB's updated numbers are no better. Right now, 220,000 businesses are in danger of going bankrupt if the federal government does not let them defer repayment of Canada emergency business account loans without losing the subsidy. Those 220,000 businesses say they have neither the cash nor the ability to borrow more to repay the loan. When will the government understand that these businesses may well go bankrupt if they are not given enough time to pay back their loans?
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Context: House Hansard - 245 - Nov/2/23
Hon. Soraya Martinez Ferrada (Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, Lib.)
  • Nov/2/23 3:02:31 p.m.
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Mr. Speaker, I thank my colleague for her question. I would remind her that over 900,000 businesses have been saved by our government. If we had not stepped in, these companies would have been shuttered. Today, we are offering a second loan repayment extension. We are offering more flexibility to refinance and have the loan forgiven. We will continue to be there for businesses.
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