Earlier, I wrote about how happy I was to live in Canada during this global pandemic. That hasn’t changed. The pandemic is changing almost at an hourly rate it seems. Our federal, provincial and municipal leaders are taking this seriously and addressing the crisis as I would expect them to.
Which brings me to today’s unique sitting of the federal government to pass legislation to tackle the economic downturn we are all facing. I’m pleased to see our legislative system still functions. The Liberals are smart to back down on taxation measures that go beyond the normal accountability process of parliament.
It’s understandable that in these trying times all measures are on the table, but sometimes you have to place your trust in your opponents. The opposition parties have signaled that economic aid is coming to Canadians and small businesses. Which is of course a good thing.
The question going forward then is how do we target our economic aid. As a former small business owner myself, the pressure to make rent to keep an office or storefront open is weighing on their minds no doubt. For many small businesses, especially new ones, not being able to pay rent could be a make or break propostion in the next month. Combined with the pressure to make payroll, with a greatly reduced revenue stream, we are looking at the possibility of a huge section of our economy closing within a month or two. The Canadian Federation of Independent Businesses, is estimating 1 in 4 small businesses may close as result of Covid-19.
It’s my hope that the federal government targets the small and medium sized businesses first in whatever financial aid package is put forward by parliament.