OLDS — Last week’s speech from the throne was so vague, it’s hard to tell what effect it will have on local businesses, Olds & District Chamber of Commerce president Clare Janitz says.
The speech from the throne outlines in general terms what the federal government wants to accomplish.
However, Janitz is encouraged by one line in the speech; the plan to extend the Canada Emergency Wage Subsidy (CEWS) until at least next summer.
In an email, Jantiz said that move will “really benefit the small business owner, as well as loosening the restrictions that will allow more businesses to qualify for it.
“The actual subsidy will be based on revenue drop and will include businesses that may have had less than a 30 per cent drop, which was the criteria originally,” she added.
Janitz said that move, along with the Canada Emergency Business Account (CEBA) and Business Credit Availability Program (BCAP), announced this spring, should provide much-needed help to businesses suffering from lost income due to the COVID-19 pandemic.
Janitz was also pleased with the announcement that the federal government plans to create taskforce which will hammer out a national action plan to get women back into the workforce.
She noted the Canadian Chamber of Commerce has “advocated for support for women entrepreneurs.”
However, Janitz worries about what all these programs will mean for taxpayers in the future.
“At the end of the day, while the COVID financial assistance is desperately needed, the concern is are we leaving future generations with a massive debtload and does our federal government have a plan on how that will be dealt with,” she asked.
