Vote 2021: Vaughan-Woodbridge candidates pitch ideas for helping small businesses recover after COVID-19

Yorkregion.com
Sept. 10, 2021

We’ve asked Vaughan-Woodbridge’s federal election candidates this question:

What are three concrete steps your party would take to help small businesses impacted by the COVID-19 pandemic to recover?

Liberal candidate Francesco Sorbara’s answer:

Since the beginning of the COVID-19 pandemic, we’ve fought for Canadian businesses, protecting millions of jobs and putting Canada on the fast track to recovery. But while some businesses are ready to open their doors, others are still reeling from the impacts of the pandemic. Many businesses in hard-hit sectors won’t be able to open as quickly, and still need our help.

That’s why we are maintaining or creating COVID-19 relief programs that support businesses and our hardest-hit sectors. We’ll extend the Canada Recovery Hiring Program to make sure businesses can keep hiring more employees, and Canadians can get back to work.

As for our hardest-hit sectors, we’ll protect Canada’s tourism industry with temporary wage and rent support to help them get through the winter. We’ll launch the Arts and Culture Recovery Program to match ticket sales for performing arts, live theatres and other cultural events to make up for reduced capacity.

And we’ll protect our vibrant film and television production sector with COVID-19-related insurance coverage, supporting 150,000 Canadian jobs.

The Conservatives have made it clear: they think it’s time to wind down COVID-19 relief spending, even as some of our hardest-hit industries still need it to stay afloat.

Conservative candidate Angela Panacci’s answer:

Conservatives understand that small businesses are the bread and butter of the Canadian economy and our economic prosperity is based on the success of the small businesses. Through Canada’s Recovery Plan, Conservatives will help small businesses by:

1. Launching the Main Street Business Loan to provide loans of up to $200,000;

2. Making the first $25,000 of our Canada Investment Accelerator refundable for small business, providing a five per cent investment tax credit for any capital investment made in 2022 and 2023;

3. Launching the Rebuild Main Street Tax Credit, which will provide a 25 per cent tax credit on amounts of up to $100,000 that Canadians personally invest in a small business over the next two years. This will give a strong incentive for Canadians to invest their money to help entrepreneurs rebuild our country.

4. Help small businesses hire back workers that have been unemployed long-term; our plan will cover up to 50 per cent of the salary for those who have been unemployed for six months or more.

It was a Conservative government that got us out of the 2008 recession. Canada was the only G7 nation that avoided a financial crisis. It was because of the Conservative government’s sound policy-making.

NDP candidate Peter Devita’s answer:

Small businesses are key to job creation. Local shops keep our communities running.

New Democrats believe that small businesses must be supported now to get through this crisis. The NDP track record shows support for:

1. Emergency small business aid during COVID-19;

2. Lower small business taxes;

3. Opposed unfair merchant fees; and

4. Fought to make it easier to pass on small businesses to the next generation.

There’s more to do. New Democrats will:

1. Make sure that small business wage and rent subsidies continue until small businesses are able to fully reopen;

2. Add a long-term hiring bonus to pay the employer portion of employment insurance (EI) and CPP for new or rehired staff; and,

3. Put an end to gouging by capping high credit card merchant fees to one per cent.

Our universal pharmacare will save about $600 per employee. This means that all small businesses and their employees are able to access prescription drugs.

Green Party candidate Muhammad Hassan Khan’s answer:

1. Higher wage subsidy. The higher subsidy would mean that employers do not have to temporarily lay off the workers, significantly reducing the numbers applying for employment insurance (EI).

2. Financial supports for local businesses.