The federal NDP is pushing the Justin Trudeau Liberal government to extend the deadline for repayment of the Canada Emergency Business Account (CEBA) loan. The move comes after thousands of businesses asked the government for an extension. In a letter sent by over 250 Canadian chambers of commerce, they noted that 49 per cent of businesses are still making below-normal revenues and 50 per cent of Canadian food services are currently operating at a loss or breaking even, compared to 12 per cent pre-pandemic.
By DESIBUZZCanada Staff
PENTICTON – The federal NDP is pushing the Justin Trudeau Liberal government to extend the deadline for repayment of the Canada Emergency Business Account (CEBA) loan.
The move comes after thousands of businesses asked the government for an extension. In a letter sent by over 250 Canadian chambers of commerce, they noted that 49 per cent of businesses are still making below-normal revenues and 50 per cent of Canadian food services are currently operating at a loss or breaking even, compared to 12 per cent pre-pandemic.
On Thursday, NDP echoed their call for the Liberal government to support small businesses and extend the deadline for the CEBA loan.
“The pressure is growing for the Liberals to act and help small businesses get through these tough times,” said NDP critic for small business and tourism, MP Richard Cannings (South Okanagan—West Kootenay). “These businesses are getting squeezed, and the Liberals are leaving them to fend for themselves. Instead of ignoring these calls, New Democrats are here to help and secure an extension.”
The NDP is amplifying the call after over 30,000 small businesses in Canada signed a petition urging the government to extend the deadline, and 250 chambers of commerce and other small business organizations wrote to Minister Freeland directly asking for help.
“The Liberals and Conservatives have no problem catering to their ultra-wealthy friends and leaving small businesses behind. The Liberals recently backed up an additional three billion in loans to the Trans Mountain pipeline but they’re silent when it comes to supporting small businesses,” said Cannings. “Enough is enough. Summer tourism is almost over, and we need to have these businesses’ backs now more than ever. The NDP will keep standing up for those who have contributed so much to our country and keep pushing for an extension on repayment.”
Earlier in August, the Frontier Duty Free Association (FDFA), representing the small independently-owned, land border duty free businesses, also called on the federal government to drop its repayment requirement of the CEBA loan that the U.S./Canada 20-month long border closure forced them to take on.
“It is unreasonable for the government that put our stores in the position of requiring debt to expect repayment when the stores have yet to recover from the long-lasting impacts of the government’s handling of the border,” said Barbara Barrett, Executive Director, FDFA. “We did our part to keep Canadians safe at the land border and it seems a moral imperative for the federal government to acknowledge that and forgive our stores the CEBA loan.”
The border was only truly reopened as of May 11, 2023, when the U.S. dropped its requirement for proof of vaccination to enter. In addition, continued restrictions caused a change in rubber tire traffic over the border – an issue the new Minister of Tourism must address.
“Our stores had no way to pivot business during the border closure,” said Barrett. “And we continue to bear the brunt of these long-lasting impacts. We are asking for fairness from the government.”
Border communities and border businesses have been disproportionately affected by the border closure and subsequent restrictions. While life returned to normal everywhere else, government regulations prevented border communities from resuming their way of life and economic base.
