Montréal, March 27, 2020 ‒ The Chamber of Commerce of Metropolitan Montreal is delighted with the Government of Canada’s decision to implement a wage subsidy program for businesses during this time of crisis.
“The rapid deterioration of economic conditions brought about by the health emergency is unprecedented in Canada,” said Michel Leblanc, president and CEO of the Chamber of Commerce of Metropolitan Montreal. “Virtually all of the city’s businesses, particularly SMEs, have been seriously affected.”
“Over the past few days, we repeatedly asked the Government of Canada to implement significant wage subsidies to transfer cash to SMEs so they can keep their employees working,” Michel Leblanc said. “We applaud the rapid action of the federal government, which this morning announced it would finance salaries for eligible SMEs at the level of 75%. This is what was missing from the emergency economic plan announced a few days ago. These wage subsidies provide an immediate response to the needs of SMEs and their employees, and they will facilitate the recovery once the crisis is over.”
“We are also pleased with the announcement that GST and import duty payments will be postponed to June 1 and the introduction of guaranteed loans for SMEs in the amount of $40,000, interest free for the first year,” Michel Leblanc said. “These measures will provide businesses greater cash flow to help them keep their heads above water.”
“I would like to commend Prime Minister Justin Trudeau and his cabinet ministers, particularly those from our province,” Michel Leblanc said. “They listened, and they reviewed their decisions to respond effectively to the crisis. I also want to point to the leadership of the business community representatives who rallied around prominent Quebec entrepreneur Serge Godin to explain the issues and promote this essential solution to help local SMEs. Your cooperation has been incredible.”
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.
-30-
Source:
Julie Serero
Advisor, Media Relations
Chamber of Commerce of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
jserero@ccmm.ca
Facebook: www.facebook.com/chambremontreal
Twitter: @chambremontreal
To continue the discussion: #ccmm