Patricia Lattanzio
Patricia Lattanzio
Member of Parliament for Saint-Léonard—Saint-Michel
Official statement by the MP on Small Business Week

Our government knows that the economy relies heavily on small and medium size businesses (SMB) and, for this reason we created a winning tax environment  for them last year by reducing their tax rate to 9%. With this reduction, Canada had the most beneficial tax rate for small businesses in the G7. Unfortunately, while our economy was thriving, the pandemic disrupted our activities as well as those for SMBs.

The COVID-19 pandemic has caused a lot of anxiety for small businesses across the country and especially for their employees. During this Small Business Week, it's important that we showcase the businesses that serve our communities and highlight our government announced programs that will support these businesses during the second wave of the virus.

The first of these programs is the new Canada Emergency Rent Subsidy (CERS). This innovative rent subsidy will help struggling businesses, charities and non-profits by subsidizing their rent expenses up to a maximum of 65%, until December 19, 2020. As promised in the throne speech, companies that must temporarily close their doors due to a mandatory public health ordinance can also receive an additional subsidy to the CERS at the rate of 25%.

This program is one of many initiatives put forth by our government to support our small and medium-sized businesses during this difficult time. Thanks to the Canada Emergency Wage Subsidy, the Canada Emergency Business Account, and the Canada Emergency Commercial Rent Assistance, several businesses continue to rehire their employees and resume their operations. These measures combined will undoubtedly set up small and medium size businesses in Saint-Léonard–Saint-Michel as well as those throughout Canada to be the major engines of our economic recovery.

 

Patricia Lattanzio
MP of Saint-Léonard–Saint-Michel

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