SoVote

Context: House Hansard - 252 - Nov/21/23

Mr. Yves-François Blanchet (Beloeil—Chambly, BQ)

Nov/21/23 2:29:15 p.m.
Watch

Mr. Speaker, the economic stakes are high for Quebec and Canada, and that certainly justifies an economic update. However, before I go back to talk to Quebec's seniors in the coming days, or before I go back to talk to Quebec's chambers of commerce in the coming days, can the Prime Minister confirm that the economic update explicitly contains an increase in the old age pension for seniors, and that it explicitly contains an extension of the repayment deadline for the COVID loans granted to small and medium-sized businesses?

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Context: House Hansard - 252 - Nov/21/23

Mr. Charlie Angus (Timmins—James Bay, NDP)

Nov/21/23 2:53:39 p.m.
Watch

Mr. Speaker, we are getting the fall economic update from the government today. Let me give an update from small businesses in northern Ontario. First, they were hammered by the pandemic. Then they were hammered by high inflation. Now they are being hammered by Liberal indifference. If the Prime Minister does not change course on the CEBA repayments, many of our businesses are going to be forced to close their doors in January. Will the Prime Minister do the right thing and extend the loan repayment deadline so that our small businesses can get back on their feet?

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Context: House Hansard - 252 - Nov/21/23

Hon. Rechie Valdez (Minister of Small Business, Lib.)

Nov/21/23 2:54:21 p.m.
Watch

Mr. Speaker, we know times were tough and are still tough for small businesses. If they are unable to repay by January 18, they still have a full three years to repay their CEBA loan. We extended the term loan repayment deadline to make sure that small businesses are able to focus on navigating pandemic recovery. We are also cutting taxes for growing small businesses and lowering credit card fees by up to a quarter. We will always be there for small businesses. That will never change.

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Context: House Hansard - 252 - Nov/21/23

Mr. Daniel Blaikie (Elmwood—Transcona, NDP)

Nov/21/23 5:31:01 p.m.
Watch

Mr. Speaker, the NDP shares my colleague's disappointment about the Canada emergency business account. That was our position, and in letters and in conversations with the government, we repeatedly asked it to extend the deadline for repayment of the emergency account. What I do not understand is how the federal government can expect to receive more money by forcing companies to repay their loans when they are not currently in a position to do so. We know this will cause bankruptcies. Would my colleague care to comment on that?

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Context: House Hansard - 252 - Nov/21/23

Mr. Gabriel Ste-Marie

Nov/21/23 5:35:59 p.m.
Watch

Mr. Speaker, I thank my House leader for making this point again. This is basic economics. Are there any economists in the Liberal Party? Do they understand these notions? The government often gives the impression of nickel-and-diming, but by trying to save the grant part of the loan, it could cause so many bankruptcies and have such a wide-ranging impact that it could end up being more detrimental to society and the government's finances. When we discuss this informally with ministers, most of them agree with us. The problem is with the Minister of Finance. In that regard, I want to highlight the great work by my colleague from Terrebonne, who wrote the finance minister to make her aware of this. She also reminded her that the Quebec National Assembly unanimously demanded a one-year extension of the loan repayment deadline on September 26, well before this November economic statement that the minister just presented. Why are elected officials of all stripes in Quebec City asking for this? It is because they are just that little bit more connected to their community. They talk to their SMEs, they meet with them and they are worried about them. Like us, they are able to do the math and come to the conclusion that, even if the aim is to save a little money, there is a risk of losing a lot more in the end. Moreover, it will destabilize the economy. Really, the economic statement was the place for this kind of announcement. This is another missed opportunity, another disappointment. It is more proof that this government has grown out of touch, very out of touch, with the people and with SMEs.

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