OTTAWA – On Friday, the NDP welcomed Canada’s Premiers’ call to extend the CEBA loan forgiveness deadline for small businesses until the end of 2024. The support comes in response to a letter sent to the federal government signed by all Premiers urging relief for small businesses.
For months, New Democrats have been calling for a year-long extension so small businesses can have time to re-pay their loan and keep up to the $20,000 loan forgiveness the Liberals promised—but the Liberal's 18-day extension announced earlier this fall is what the NDP is calling a "cruel joke".
“Small businesses are integral to communities across Canada, and the federal government has failed them in so many ways,” said NDP critic for Small Business Richard Cannings (South Okanagan – West Kootenay). “The Liberals have no problem giving favours and handouts to ultra-rich CEOs while leaving small businesses and their workers behind. We welcome the Premiers’ call on the feds to deliver relief for small businesses on their CEBA loan. New Democrats urge the federal government to heed this call, show leadership and act.”
A recent report from the Competition Bureau found that over the last twenty years, competition has decreased due to consecutive Conservative and Liberal governments standing by while big companies concentrate their market power. Small businesses have suffered immensely as a result, and in addition to a call to extend the CEBA loan forgiveness deadline, Canada’s NDP Leader Jagmeet Singh has put forward a bill to increase competition so small businesses have a chance to survive and get into the market.
“This letter from all Premiers only indicates how much the Liberals have let small businesses down. Their measly extension doesn’t cut it, and we all know that the Liberals would bend over backwards for big companies if they asked for it. It should have never come to this,” said Cannings. “The NDP will continue to fight for small businesses and their workers to get the relief they deserve.”