Minister Rodriguez highlights significant investments in small and medium-sized businesses in budget

From: Leader of the Government in the House of Commons

Today, the Honourable Pablo Rodriguez, Leader of the Government in the House of Commons and Quebec Lieutenant, and Soraya Martinez Ferrada, Member of Parliament for Hochelaga and Parliamentary Secretary to the Minister of Transport, met virtually with the director of Cuisine collective Hochelaga-Maisonneuve to discuss investments from Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience.

The COVID-19 recession is the steepest and fastest economic contraction since the Great Depression. It has disproportionately affected low-wage workers, young people, women, and racialized Canadians. For businesses and organizations, it has been a two-speed recession. Some, like Cuisine collective Hochelaga-Maisonneuve, are finding ways to prosper and grow thanks to Government of Canada programs like the Canada Emergency Wage Subsidy. Cuisine has adapted and found other ways of providing its services during the pandemic. It has opened a permanent solidarity grocery store and is getting its urban farm/greenhouse project under way.

Unfortunately many others-especially small businesses-are fighting to survive. That’s why we will extend business and income support measures through to the fall. In addition to that, we will make investments to create jobs and help businesses across the economy come roaring back.

The Government of Canada’s top priority remains protecting Canadians’ health and safety. Vaccine rollout is under way across Canada, with federal government support in every province and territory. Budget 2021 has plans to invest in Canada’s bio-manufacturing and life sciences sector to rebuild domestic vaccine manufacturing capacity.

Budget 2021 aims to help Canadians and Canadian businesses through the crisis and towards a quick and robust recovery. In addition to proposing to extend business and income support measures through to the fall and make investments to create jobs and help businesses across the economy come roaring back, it will support almost 500,000 new training and work opportunities, including 215,000 opportunities for youth; support businesses in our most affected sectors such as tourism and arts and culture; and accelerate investment and digital transformation at small and medium-sized businesses. Budget 2021 puts Canada on track to meet its commitment to create 1 million jobs by the end of the year.

Canada entered the pandemic in a strong fiscal position. This allowed the government to take quick and decisive action, supporting people and businesses, and put it in the position to make historic investments in the recovery.

Quotes

“Organizations like Cuisine Collective Hochelaga-Maisonneuve are part of the backbone of our communities. Budget 2021 proposes several measures to support main streets and help businesses get back on their feet. Since the beginning, we have been there to help our small businesses, and we will continue to be there to help them benefit from the recovery.”

– The Honourable Pablo Rodriguez, Leader of the Government in the House of Commons and Quebec Lieutenant

“Community organizations like Cuisine Collective Hochelaga-Maisonneuve are essential for maintaining the social fabric of Hochelaga. With its social reintegration work, its urban agriculture projects and its affordable catering service, CCHM meets real needs in the community. Our government has listened to small and medium-sized businesses and put in place the measures needed to help them get through this crisis. With the 2021 budget, we are committing to supporting them through numerous investments.”

– Soraya Martinez Ferrada, Member of Parliament for Hochelaga and Parliamentary Secretary to the Minister of Transport

Quick facts

  • Budget 2021 includes $101.4 billion over three years in proposed investments as part of the Government of Canada’s growth plan that will create good jobs and support a resilient and inclusive recovery. Key measures include:

    • Establishing a Canada-wide early learning and child care system, in partnership with provincial, territorial, and Indigenous partners, which will help all families access affordable, high-quality, and flexible child care no matter where they live, and no longer shoulder the burden of high child care costs. The budget proposes new investments totaling up to $30 billion over the next five years. Combined with previous investments, a minimum of $9.2 billion per year ongoing will be invested in child care, starting in 2025-26.
    • Extending emergency supports to bridge Canadians and Canadian businesses through to recovery, including:
      • Extending the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support until September 25, 2021.
      • Extending important income support for Canadians such as a 12-week extension of the Canada Recovery Benefit and 4-week extension of the Canada Recovery Caregiving Benefit.
    • Enhancing Employment Insurance sickness benefits from 15 to 26 weeks.
    • Supporting small and medium-sized businesses through several transformative programs, such as:
      • A new Canada Digital Adoption Program that will assist over 160,000 businesses with the cost of new technology. And it will provide them with the advice they need to get the most of new technology with the help of 28,000 young Canadians who will be trained to work with them.
      • Allowing Canadian small businesses to fully expense up to $1.5 million in capital investments in a broad range of assets, including digital technology and intellectual property. This represents an additional $2.2 billion investment in the growth of Canada’s entrepreneurs over the next five years.
    • Revitalizing Canada’s tourism sector through $1 billion to help tourism businesses recover and support festivals and cultural events that provide jobs and growth in many of our cities and communities.
    • Supporting women, Black Canadians, and other underrepresented entrepreneurs who face barriers to launching and owning businesses through $300 million to enhance initiatives like the Black Entrepreneurship Program and the Women Entrepreneurship Strategy.

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