The local MP is welcoming a push by Canada's premiers asking for an extension on the deadline for small businesses to pay back the CEBA loan.
On Friday (Oct. 20), the premiers sent a letter to Prime Minister Justin Trudeau urging the federal government to extend the loan forgiveness option by a year.
"The Liberals have no problem giving favours and handouts to ultra-rich CEOs while leaving small businesses and their workers behind. We welcome the premiers' call on the feds to deliver relief for small businesses on their CEBA loan. New Democrats urge the federal government to heed this call, show leadership and act," said Timmins-James Bay MP Charlie Angus in a news release.
During the pandemic, the federal government rolled out the Canada Emergency Business Account (CEBA). It offered small businesses interest-free loans, including a $20,000 forgivable amount if the loan was repaid within a certain period. That deadline has been extended to Jan. 18, 2024.
In their letter to Trudeau, Canada's premiers said more time is needed to allow small businesses recover from the pandemic and the "cost shocks" that followed.
Angus said the NDP are calling the 18-day extension that the federal government announced recently a "cruel joke."
"Their measly extension doesn't cut it, and we all know that the Liberals would bend over backwards for big companies if they asked for it. It should have never come to this. The NDP will continue to fight for small businesses and their workers to get the relief they deserve," he said.
