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House Hansard - 246

44th Parl. 1st Sess.
November 3, 2023 10:00AM
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?
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Context: House Hansard - 246 - Nov/3/23
Hon. Rechie Valdez (Minister of Small Business, Lib.)
  • Nov/3/23 11:47:09 a.m.
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Madam Speaker, I thank the hon. member for that question. That is why we are offering additional flexibilities for small businesses to repay their CEBA loans. This includes a full one-year extension on the term loan repayment deadline, more flexibility on refinancing and more time to access loan forgiveness, which is both balanced and fiscally responsible. We know times are tough, which is why our government is also cutting taxes for growing small businesses and lowering their credit card fees by up to a quarter. We will continue to listen to small businesses, and we will be there for all Canadians.
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