Atlantic Chamber Applauds Government’s Phase I COVID-19 Economic Measures But Ask for Clarity Surrounding Access
Measures Align with Atlantic Canadian Business Needs Identified in Recent Survey
Windsor, NS (March 18, 2020) – The Atlantic Chamber of Commerce applauds the Federal government for today’s announcement of a new set of economic measures to help stabilize the economy during a challenging time for people, business and communities across the country.
The measures announced today align with the call for support the Chambers in Atlantic Canada are hearing from members. Interim results from a survey conducted over the past few days reveal that 82% of businesses in Atlantic Canada are reporting they are currently being impact by COVID-19 and more than 95% anticipate they will be impacted in the near future.
Both urban and rural businesses across all sectors were asking for immediate relief in the form of EI or wage replacement program enhancements (60.9%); flexible tax remittances or elimination of late penalties (60.3%); 0% loans, guarantees, deferrals or lines of credit (59.3%); payroll tax breaks (57%); general tax credits (43.7%); as well as resources for employees who must self-isolate (40.6%) or who get laid off (39.8%) and a bigger economic stimulus program (32%).
“We are pleased with what we heard today from Prime Minister Trudeau and Minister Morneau. From an Atlantic Canadian business perspective, the Government of Canada has stepped up to the plate for our citizens and businesses with its Phase 1 measures,” says Sheri Somerville, CEO, Atlantic Chamber of Commerce. “What we’re hearing though is there is great need for clarity about how people and businesses can access this support as quickly as possible. There is a lot of uncertainty these days and knowing how and when income assistance and support will be available is critical.”
As the Government moves toward Phase 2 support, ACC is hearing from business that other types of assistance would be necessary if these challenging conditions continue. Atlantic Canadian businesses would also like to see:
- Increased processing of government payments to vendors, contractors, etc.;
- Funding and incentives for technology support for remote working;
- Business advisory and technical guidance programs;
- Support for highly impacted sectors (e.g., airlines, tourism, hospitality);
- Elimination of taxes on medical equipment and supplies; and
- Incentives for importation/exportation of essential supplies.
“These are unprecedented times for both citizens and businesses in Atlantic Canada, changing daily, if not hourly. We appreciate the efforts of government at all levels and to all of those behind the scenes and on the front lines delivering critical care and support these past few weeks,” adds Somerville. “I think we all recognize the seriousness of the situation and the need to safeguard our personal and economic health.”
Atlantic businesses are also taking measures to ensure safety, well-being and cessation of COVID-19. More than 66% have cancelled meetings, events and gatherings, 65% have increased cleaning and sanitation of facilities, 45% limited employee travel and more than 25% have asked and 17% have required employees to work from home, as well as more than 28% implementing reduced hours and operations.
-30 -
About the Atlantic Chamber of Commerce
As the strong, credible and unified voice that influences an environment where business in Atlantic Canada succeeds, the Atlantic Chamber of Commerce (ACC) represents more than 16,000 businesses through its network of 93 chambers of commerce and boards of trade in the four Atlantic provinces. ACC is a catalyst to influence, educate and advocate on policy related issues to support business, deliver high-value services and opportunities to our members, and to support and promote initiatives that contribute to sustainable economic growth in the region.
For more information:
Patti Colson
patti@atlanticchamber.ca
902-694-2210
