Charlottetown, PE – The Greater Charlottetown Area Chamber of Commerce was encouraged by investments announced in the federal government’s budget address. Of significance is the extension of COVID-19 business support programs, including the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) until September 25, 2021.
“Given the challenges and uncertainty that our hardest-hit sectors, particularly tourism and hospitality, continue to face, we were pleased to see the extension of the federal wage and rent subsidies into this fall,” said Penny Walsh-McGuire, CEO of the Greater Charlottetown Area Chamber of Commerce. “While this will provide some security in the coming months, the government must ensure that support is not removed too early and that its level does not decrease too quickly.”
Several other key investments in supporting our economy and its recovery were noted:
- $500 million Canada Community Revitalization Fund over the next two years through Atlantic Canada Opportunities Agency to support main street revitalization.
- $1 Billion package of tourism supports for local tourism businesses, festivals, and cultural events.
- $424 million in 2021-22 to ensure the safe reopening of Canada’s borders.
- The Canada Recovery Hiring Program, for businesses to hire new workers or increase the hours of existing employees and continue to operate without the fear of not being able to pay staff.
- Reskilling and upskilling to get Canadians back to work, as well as producing better data on labour market demand in individual communities and building talent pipelines based on employer needs.
- The commitment to a national $10-a-day childcare program by 2026 supporting Canadian parents to save on childcare costs and draw more women into the workforce, countering gender disparities in the labour market.
- $300 million in funding to support Black Entrepreneurship and other underrepresented entrepreneurs.
- Investments in green recovery, including the establishment of a Natural Infrastructure Fund to support conservation and biodiversity, while mitigating the impacts of climate change.
“Our members want to be part of Canada’s economic recovery and an encouraging business environment will be needed for this to happen,” said Walsh-McGuire. “Today’s budget provided necessary supports and investments for many Island businesses’ survival and future growth.”
To view the 2021-22 federal budget themes, click here.
Policy and Communications Manager