Canadian businesses looking for recovery support in throne speech

by Stephen Dafoe
With an estimated one in seven Canadian businesses at risk of closing permanently, the Canadian Federation of Independent Business (CFIB) says its membership is looking for recovery support in Wednesday’s Speech from the Throne.
A recent member’s survey found 74 per cent of members looking for a more competitive tax environment, and 69 per cent seeking a broad-based recovery plan promoting economic growth. Members also called for red tape reduction (53%) and keeping non-COVID-19 government spending in check (65%).
“Business owners have endured a lot over the past six months, from closures to devastatingly low sales and new costs, and now they’re facing a long and uncertain winter. They need to know the government is behind them with policies that will support their survival, not just in the short term, but long term as well,” said CFIB Executive Vice-President Laura Jones in a Sept. 17 media release.

CFIB is calling on the Liberal government to delay all federal tax increases, including CPP and its carbon tax. They are also asking the government to consult with businesses before making permanent changes to Employment Insurance.

“Small businesses understand the need to have larger than normal deficits to deal with COVID-19 but don’t want to see extra spending outside of that,” Jones said. “They want a strong focus on economic recovery, which includes keeping today’s and tomorrow’s taxes reasonable. Now is not the time to put in place costly new programs that will result in tax hikes down the road.”

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