March 3rd, 2021
New Democrats announce plan to help save small businesses in our communities
ST. JOHN’S — Jagmeet Singh and the NDP fought successfully for small businesses by increasing the wage subsidy, delivering a rent subsidy and paid sick leave for workers who need it. New Democrats released a plan to continue delivering help for small businesses that have been hit hard by the pandemic.
“While small, local businesses in Newfoundland and Labrador are struggling, the Liberal government is letting big companies – like Bell and Imperial Oil – take public COVID relief and pay millions in dividends to their rich shareholders. And when the NDP asked Justin Trudeau to make sure big corporations that have been profiteering from this pandemic pay a little more so we can better support small businesses, he refused,” said NDP MP Jack Harris. “From the beginning of the pandemic, New Democrats have fought to ensure small business owners got the support they needed. They can count on us to have their backs during the financial recovery.”
“My office has received many distressed phone calls from owners of small shops, restaurants, bars, accommodation providers, and other businesses as well as performers and artists. The tourism and hospitality industry in our province has been especially devastated by the consequences of the pandemic,” said Harris.
New Democrats have proposed a plan to better support small businesses. The NDP will fight to extend both the rent subsidy program and the wage subsidy until the pandemic is over. This will allow business owners to pay their rent and maintain their workforce so small businesses can recover. In addition to extending these programs, the NDP plan includes a hiring bonus to pay the employer portions of Employment Insurance and the Canadian Pension Plan for new or rehired staff.
New Democrats have also proposed an excess profit tax on pandemic profits for large corporations who have made record profits during this public health crisis.
“Our announcement today provides solutions to help small businesses get back on their feet. An additional measure that we’re proposing is a hard cap on credit card transaction fees that have been gouging our local businesses for years,” said Harris. “Canadian small businesses are paying among the highest credit card transaction fees in the world. Capping these fees will help small businesses thrive – and that means stronger family businesses and stable, good jobs.”