Calgary Chamber welcomes fixed-cost relief for business through new and expanded federal programs
Calgary, October 9, 2020 – “As we enter the second wave of the COVID-19 pandemic in many parts of the country, fixed-cost relief programs that are accessible and flexible will help give businesses and the people they employ much-needed certainty and safety nets in the months to come.
“Today, the Calgary Chamber welcomes the following new and expanded relief programs, which provide targeted and scalable support to businesses:
Launching a new Canada Emergency Rent Subsidy
By making rent relief directly accessible to tenants and scalable based on percentage of revenue loss, the federal government has addressed the concerns raised by the business community with the previous rent relief program (CECRA). The Calgary Chamber is pleased to see our policy recommendations directly reflected in this new program.
Extending CEWS to June 2021 and freezing the rate until December 2020
Covering a portion of employee wages allows businesses to retain and/or re-hire their employees, which helps Canadians get back to work.
Expanding CEBA by an additional $20,000
Ensures that businesses have access to capital and liquidity through interest-free, partially forgivable loans in order to help cover their fixed costs.
“The COVID-19 pandemic has had an enormous and negative impact on businesses in Calgary and across the country, and we know the pace of recovery will be slow and uneven. We urge everyone in our communities to stay vigilant and follow public health orders, so that we can flatten the curve and keep our businesses open.”
About the Calgary Chamber
The Calgary Chamber is an independent non-profit, non-partisan business organization. For 129 years the Chamber has worked to build a business community that nourishes, powers and inspires the world.
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