Montréal, November 30, 2020 – The Chamber of Commerce of Metropolitan Montreal has studied the Government of Canada’s Economic Statement presented today by Minister of Finance Chrystia Freeland. The Chamber notes the government’s commitment to support a number of sectors that have been hit hard by the pandemic, but is concerned that the Statement sets out no additional aid for the aerospace sector and is vague about possible aid for air carriers.
“Nine months into the pandemic, the recognition is long overdue that a number of key sectors of our economy urgently need aid,” said Michel Leblanc, president and CEO of the Chamber of Commerce of Metropolitan Montreal. “Today’s Economic Statement announces the bases of aid for a number of sectors, particularly tourism, arts and entertainment, hotels and restaurants. We also understand that aid to regional economic development agencies could support the downtown areas of major Canadian cities hit hard by the crisis. That’s good news.”
“However, we are disappointed that the government still hasn’t made a decision about critical aid for the aerospace sector and that it is still vague on support for air carriers,” Michel Leblanc said. “The clock is ticking if we want these economic pillars to be part of the recovery.”
“The Chamber applauds adopting an investment strategy for the country’s strategic infrastructures,” Mr. Leblanc said. “We welcome the decision to devote $500 million to accelerate the realization of infrastructure projects in airports and to make the construction of the REM station at Montréal-Trudeau Airport eligible. Postponing the ADM’s rent payment was also necessary. Investments in green infrastructures, in particular the deployment of new electrical charging stations, is also good news and will help accelerate the energy transition.”
“The Chamber welcomes the announcement of $100 billion for the economic relaunch,” Michel Leblanc said. “While the government believes it is still too early to detail its efforts, it is sending a signal that it will be ready to invest. The Chamber and the city’s business community have already mobilized through the Relaunch MTL movement to propose concrete efforts. We are in contact with decision makers and have sent them the analyses of issues and solutions proposed by the community. We will do the follow-ups necessary to ensure that the federal relaunch plan reflects the needs of the city’s business community.”
About the Chamber of Commerce of Metropolitan Montreal (CCMM)
With a network of over 8,000 members, the CCMM is active on two fronts: being the voice of the Montréal business community and delivering specialized services to businesses and their representatives. With its finger on the pulse of current events, it acts on issues that are decisive for the prosperity of the city’s businesses. With the support of the Acclr experts, the CCMM’s goal is to accelerate the creation and growth of businesses of all sizes, at home and around the world.
Advisor, Media Relations
Chamber of Commerce of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
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