Calgary Chamber urges immediate extension of federal pandemic support programs

The following statement is attributable to Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce:

Calgary, October 15, 2021 – “The impending expiry of key federal pandemic support programs, including the Canada Emergency Wage Subsidy (CEWS), Canada Emergency Rent Subsidy (CERS) and Canada Emergency Business Account (CEBA) is of great concern to the Calgary Chamber of Commerce. These supports have provided vital stability for entrepreneurs, employees and businesses during the most difficult economic times in recent history.

“In a survey of the Calgary business community earlier this year, 70 per cent of businesses indicated they received at least one form of government support with federal supports among the most accessed. Though third quarter statistics on economic recovery mark an improvement from the previous quarter, the outlook for the coming months indicates continued economic uncertainty. Rising costs and continued restrictions have led to businesses, particularly small and medium sized operations, reporting expectations of decreased profitability along with concerns about prevailing financial constraints and inability to take on more debt.

“In anticipation of the upcoming expiration of key federal supports, the Calgary Chamber penned a letter to federal Minister of Finance, Hon. Chrystia Freeland, urging an extension of the support programs that have been so critical to business survival.

“Government supports have enabled businesses to withstand the financial impact of lockdowns and changing restrictions. Families and businesses alike have faced major economic headwinds over the past 20 months and, given the ongoing severity of the pandemic and associated public health measures, they cannot absorb additional costs and uncertainty. Ensuring people are able to maintain their employment helps accelerate our economic recovery; high workforce participation leads to higher spending and greater economic growth.

“The Chamber remains committed to working with the federal government and advocating for supports that meet current and ongoing needs of our business community so businesses can contribute to a successful economic recovery.”

About the Calgary Chamber

The Calgary Chamber is an independent non-profit, non-partisan business organization. For 130 years, the Chamber has worked to build a business community that nourishes, powers, and inspires the world.

For media inquiries, please contact Arianne Brady, Communications Manager, at media@calgarychamber.com or at 403-750-0414.